Discussion in 'Professional Trading' started by garfangle, Aug 17, 2003.

  1. Quote from NYT about research analysts:

    --For many analysts, it's a little hard to swallow. Having tasted the fruits of the 1990's — fame, television, deals and money — some are beginning to wonder if the 100-hour weeks are worth the effort.

    "There is just nothing attractive about the job anymore," said one former research analyst who is now contemplating whether to return to the business." Everyone is cracking down on you, and these days you don't even get paid. You can't even be on the same golf course with an investment banker anymore. In many ways they are treating you as if you were an inmate."

    Of course, not being paid is a relative concept. According to an analysis by David Trone, a brokerage analyst at Prudential Securities, the average research analyst with five or more years of experience will make $650,000 to $800,000 this year.

    But these figures pale in comparison with average total compensation of more than $2 million during the boom. Estimates show that no more than 25 out of 700 or so Wall Street analysts will make more than $1 million this year, whereas more than 200 brought in seven figures during 2000, the stock market's peak year. Pay levels could well decline further as firms continue to question the relevance of highly paid analysts to their core businesses.--

    I cannot believe they still pull in this kind of wonder Wall Street is the only legalized "cartel" in the US. :D