Don't mean to be rude but you got that survey from www.careers-in-business.com and it is for corporate finance you can never state figures for sales and trading as it is so performance based. For trading it is profit and loss how much you make or contribute, in institutional sales it is how many clients you bring and the value of trades made from the clients you brought in.
I think you're the one talking crap. And you get your indepth knowledge from where ? School ? TV ? When you grow up, you'll see how things work in the real world. I spent 5 years at GS and previously worked at Lehman and CSFB, initially as a fixed income trader and subsequently as a quant. Yes it is a meritocracy, but if a 22 year old associate were to make a ton of money in his first year, no, he wouldn't get paid a percentage of that PnL. More likely, he'd be paid the maximum he could be paid given he was an associate, and be promoted to VP\Director etc.
You were 5 years at Goldman fixed income trader then quant why? What happened did you not cut it as a fixed income trader? Most people if they are good stay traders. I don't know if the system is different here I would not of thought so but at the bank I interviewed with they had one superstar prop trader who had his own book after three weeks joining the firm after university, they ddin't mess about with analyst crap and associates, he was just a fully wualified trader on the prop desk no stupid title he was only 24 but was puling 7 figures a year. What about when a trader is exceptionally good but does not want managerial responsibilities there are plenty of traders recruited who get percentage of profit and loss and are just senior dealers they don't have a directorship.
Any firm which gives a guy his own book within 3 weeks of leaving school obviously isn't a major player. And just because someone is a partner\director, doesn't mean he is a manager. In fact, 90% of them won't be. And fyi, I chose to be a quant because I enjoy it more than trading. I've made enough money to be comfortable, so why not do what I enjoy and pick up 500K in the process.
why did you leave GS? sounds like you were at the top of the food chain. So if there's any reason why I shouldn't get in line and try to get a job at BB firm like everyone else, please tell me.
I went to work for a friend at another firm, plus with a two year guarantee (you'll find this happens a lot on Wall St. after a couple of years work experience, most subsequent jobs will be through contacts you make). I still think GS is a great firm though, probably the best on the street in terms of the qualtity of people, professionalism etc. If you get the chance to join an major firm, I'd jump at it.
If the guy is talented he is talented and of cousr determined, it is top ten fx in world the bank so it is a major player. 500K is nothing major at all but I do have a lot of respect for you for doing what you enjoy he who compromises enjoyment for want of money has lost his path in life.
dude, if the firm is in the top 10 for fx, it probably european and\or a commercial bank. in my mind, a major player means goldman, merrill, jpm, morgan stanley etc. i agree, there are a lot of traders making way more than 500K, but then again, it's way more than you're ever likely to see. i've probably interviewed over 100 undergrads and grads for trading program positions in recent years, and there are some seriously smart kids out there. so keep on deluding yourself that you'll be running a book, making millions someday, because in all probability, you'll never get the opportunity. the guys which get the offers are almost always the ones who have done there research properly, which you clearly haven't.