salaries in the financial market

[momotrdr]

D-

I realize what you are saying, and I agree.
In my opinion the real money is made as an Institutional Sales
Trader. I had an interview recently with an I-Banking firm pretty well known. The weren't offering any base. However, of those
that were decent producers I was shown documents as to their
sales results. Stepping on aboard with a jr. level book of clients
one could expect to take home a min. of 1.2m

Of those that seemed to be in the middle range were
doing 4m+ per year. Even in this market. I wasn't shown anything past these numbers. However, I myself am jr. So, I could very well imagine what those in the business for sometime with a sizable book of Institutional Clients could be bringing down.


Just sharing what I've been exposed to.


-momo

Originally posted by danielc1
MOMOTRDR:

"Several of their senior traders make over half a million dollars a year."
"Salary Survey: A typical Senior Market Maker working in New York, NY is expected to earn a median base salary of $210,060. Half of the people in this job are expected to earn between $154,086 and $277,487 (i.e., between the 25th and 75th percentiles). These numbers are based on national averages adjusted by geographic salary differentials. (This data is as of December, 2000:anytime)"


You can live with that kind a salary? My girlfriend alone will "eat" the whole year salary...

 

[CalTrader]

These "Senior Market Maker" and IB salaries being talked about do not represent the bulk of salaries in financial services. Sure a few people do make these numbers: very few.

Most people inhabit other rungs of the ladder for the bulk of their careers.

 

[Madison]

Originally posted by danielc1

You can live with that kind a salary? My girlfriend alone will "eat" the whole year salary...

I love message boards...

if your girlfriend gets hungry, I'll give her a few hundred k - I'm so rich I don't even bother to count it. oh, when you stop by to pick it up you can see the cold fusion reactor I have running in my basement. I used to use it to power my 747 (it's portable of course), but flying got boring - now I just hop in the teleporter and off I go...

 

[prox]

What's the real job title for an institutional trader and what kind of experience/education is necessary to get hired?

Somewhat ironic , as the best traders that I know are college drop outs with no applicable professional experience.