No way each person will get anywhere near that amount! why would they give the low lifes 420,000.00 of there money?
there are cleaners getting paid less then $8 x hour, good programmers making $50k and traders making $70k $420k is just a pure dream pipe for many P.S. I was in the $225k+ per annum...
If you are bragging about your compensation on The Internet, you are a tad insecure Bro! I would guess $22,500 is closer to the truth!
I have never been jealous or envious I have just wanted to know what it takes to get in the place...and clearly the answer is your school and internships and maybe who you dad knows. I work at an interbank and we deal with the GS traders for the Interest Rate Swaps and the head of that desk made between 20-25 million last year. went to Duke was the baskeball team manager. BA only in Mathematics. this guy is just brilliant and I know he would not hire a guy like me because I do not think the way he and his team do. I am smart but I am not that smart and I have the sense to admit as much to myself. I think a backoffice person that creates value, like the example of the guy who helped save the 5-6 million that the desk was writing off, is worth his money. a lot of back office people just dont give a shit about how there products work or do not think of ways to protect the company and save them money. if they did they would also know how to negoiate raises and bonuses based on that. I have wanted to be a trader or the broker that the trader deals with but the entry is almost impossible as there are thousands of 'little brohers/sisters' waiting in the wings of the top guys. we have interns every summer at my company and this year we had a kid come in because his uncle is the head swap trader at Bear! dude just surfed the internet all day and left whenever he wanted...I was dumbfounded and JEALOUS at the same time. here is a kid that will graduate next year and literally just walk back into Bear and sit down as a swap trader trainee. and I cant even get an interview at Bear to work in there back office. I go the extra mile for the brokers that I work for and at the same time try to trade my pennies on the side...I save them money all the time when it comes to settlements and details on the trades that the other back office people just dont care to look for...my reward 5,000.00 from a desk of 15 brokers. the reward is doing my job great each time not how much they givee me because I am worth more than that.