I'm simply pointing out to you, in very clear terms, that both your education and trading experience will not qualify you to even send a resume to a top tier firm to get a job which allows for significant salary or career growth. The other polite answers you're getting here are creating the sense of false hope many college grads have. If you could be bothered reading, you'd see my prior post said you should go to your college and beg for help getting a job - maybe some regional firm needs someone like you. Also, expect to spend lots of time running errands, photocopying and probably being treated very poorly because there is no shortage of kids with below average grades from state schools. Facing the above reality, your time may be better spent trading one lot of some mini and hoping it works out. You cant be wrong on every trade, and if you lose all your money, your parents will still support you. Whats the downside?
huh. wall street was founded by high school and college dropouts. proof that your degree is highly overrated. I'd try to get my money back if I were you.
False. It amazes me how many people on this board think that you have to go to an Ivy League school to land a challenging role (not to be confused with back office) at a "top tier firm." Sure, it takes more time and effort if there's a state school on your resume but it definitely happens more often than many people, like Tom Cole, assume. My first job out of school was on the IR option desk at well respected bank. Just to name a few of the "state schools" represented on the trading floor at said bank: Vermont, Texas A&M, Wisconsin, Ohio, South Carolina, Oklahoma State, etc... If you want to work for a bank or fund you can most likely make it happen if you are willing to put in the time and effort. Oh, and don't discount the regional firms such as A.G. Edwards, Piper Jaffray, Stephens, First Albany, Janney Montgomery, Morgan Keegan, etc.
one of cool subleties of "Trading Places" is that Winthorp Louis III was a blue-blooded stooge of the bookies. reflect on that for a time.
You guys miss the point 200%. A good entry level job for an Ivy grad, with grades above 3.5, is about $100Gs plus bonus of $25-50Gs, depending upon the firm. Hes a state college kid with a B average - they wont even consider him. My point is simply this - trading his $5Gs, he can make $200-300 a day..$200x20 days a monthx12 months = $48000 a year. He can live at home, pocket what he makes and he has his freedom to pursue a better degree from a more competitive school - which is what he needs. If he is as bright as he says he is, he loses nothing in trying. If he gets a job with a third rate broker, his career choices are limited to competeing with other average kids from state schools.
What are you smoking, Tomcole? No top tier firm is going to pay 100k for someone with a BA/BS right out of college. This ain't 2000 anymore, starting salary for one of the top name i-banks is 55k + bonus. Even if you get in with a top tier hedge fund out of college you'll be making about the same.
Tom, I am not sure that this is realistic for a kid with little or no experience but perhaps as a project, you should take him under your wings and teach him. I agree that he is in a great position to do something like that, but his odds of survival are much better with "some" profesional guidance. It's too bad they don't actually teach you how to make money, or keep it for that matter, in college. IMHO
jond83....I just fired the guy who cuts my grass. Normally, I would look for someone with a little better academic credentials but I am in a bind. Let me know if your interested.
Top tier firms hire from top tier schools. GPA of 3.5+ starting salary is US$100G, with no experience, although many returning intern, do a bit better. FYI, GS sent their #2 vice chairwoman and about 50 traders, salespeople and others to get Columbia juniors & seniors interested in GS this fall. About 30 Columbia kids showed up, mostly to eat the free food though. So, it is kinda like 1999 again. As for our young friend, it is his assertion that he knows how to trade, not mine. Thats why I suggest he try it on his own and if it works, tell people like me to go to hell. Otherwise, getting a degree from a competitive school is a good idea.