Whats' it like working on a trading desk at a buldge bracket Ibank??

O

OTCkrak

what kind of salary is a trader getting and what kind of commission or bonus does the trader earn? how is compensation structured for a trader on wall st. I'm assuming if you last more than a year, you know what your doing... so why "work" for a firm and not just go independent?

What division/department or position/title/role has the highest earning potential on wall st... as a trader or as an "ibanker"..

i want to know how i can earn the most amount of money working on wall st in salary or commission.. within one of the top 5 firms... so dont include boutiques
 
Bulge bracket I banks are snake pits full of overgrown children. The managers are all 5 feet tall napoleons who make there living by kissing there bosses butts and selling out there staff every time a trade goes against them. They hold meetings on how they can mimic Goldman Sachs. When the market is bad like now it's all about survival to the next bull. Every guy working there is afraid of the women, who in the drop of a dime will sue if they feel they have a shot. HR will not touch women or minorities because prior lawsuits have shown monetary damages in the multi millions. Thats why there is a severe brain drain at these I banks.
 
Quote from RockMachine:

Bulge bracket I banks are snake pits full of overgrown children. The managers are all 5 feet tall napoleons who make there living by kissing there bosses butts and selling out there staff every time a trade goes against them. They hold meetings on how they can mimic Goldman Sachs. When the market is bad like now it's all about survival to the next bull. Every guy working there is afraid of the women, who in the drop of a dime will sue if they feel they have a shot. HR will not touch women or minorities because prior lawsuits have shown monetary damages in the multi millions. Thats why there is a severe brain drain at these I banks.
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I have to admit, most guys on prop desks in NY are short and ugly, and as a result, extremely insecure. I was at a cocktail party in NY full of Ivy alumni, and that was my read. The cool, good looking, smart talking sales and marketing guys were way cooler, and had much more enviable lives. They still made mid to high six figures, and didn't need to make more to compensate for never getting laid until they were in their 30's.

Too bad I'm in the former category. To Wharton and a prop desk it is! At least I really, genuinely love the markets....
 
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