A very bright, energetic, and disciplined young friend, who recently graduated from a top college, is considering applying for a job in proprietary trading with First New York Securities in New York. She has been successful in trading stocks for a stock market club. If hired, she understands that she would earn an annual salary of $45,000 during the required fifteen month training program. Upon satisfactory completion of the training program, she would then be allowed to start trading. During the first year of trading, she would continue to receive $3750 per month as a draw against her share of her trading profits. She understands that within a couple of years of starting to trade, if she performs up to their average, she will be generating at least $500,000 annually in trading profits. She would be allowed to keep half of these profits as her compensation for her trading success, so she would be expecting to have personal income of at least $250,000 annually at that time. She would be trading the firm's capital only, so she would be risking none of her own capital. Is it realistic that she could earn this much money for herself this soon? Should I encourage her or discourage her from pursuing this? If hired, how likely is it that she would succeed and enjoy this? Is there some hidden flaw in this arrangement?