New York IB Salaries

Discussion in 'Professional Trading' started by Dinolovin, May 30, 2008.

Annual Salary

  1. 60,000 - 69,999

    7 vote(s)
    38.9%

  2. 70,000 - 79,999

    1 vote(s)
    5.6%

  3. 80,000 - 89,999

    4 vote(s)
    22.2%

  4. 90,000 - 99,999

    6 vote(s)
    33.3%
  1. Dinolovin

    Dinolovin

    I work at a large IM firm in California and am planning to move to New York by the end of the year b/c my wife is going to school in Manhattan. What type of salary should a OTC derivatives trade processor (settlements/trade booking) with 3 years experience expect in NY? Any advise trom people in the industry would be great! Thanks!
     
    #1     May 30, 2008
    Share
  2. Korchnoi

    Korchnoi

    neither will you without multiple offers (read bids). i'd guess there's at least a 20% chance you fall out of the ranges you've listed.
     
    #2     May 30, 2008
    Share
  3. Dinolovin

    Dinolovin

    Very true...I already have multiple interested parties. Just wanted to know what is reasonable/unreasonable for NY. Thanks though!
     
    #3     May 30, 2008
    Share
  4. Hyudra

    Hyudra

    prob around 80k-90k plus 20-50% bonus. also that is if ur manager level.
     
    #4     May 30, 2008
    Share
  5. Dinolovin

    Dinolovin

    Thanks for the response Hyudra. A little higher than I thought...must be because of the cost of living. Anybody else agree/disagree?
     
    #5     May 30, 2008
    Share
  6. 2ez

    2ez

    and Bonus' are taxed 50% in NY
     
    #6     May 31, 2008
    Share
  7. Dinolovin

    Dinolovin

    So in conclusion I assume all trade processors in NYC should make 77,500.00 USD or your getting screwed?
     
    #7     May 31, 2008
    Share
  8. demoship

    demoship

    You got 3 yrs experience, and want to work for a NYC IB for under 100K?

    I got 1 yr experience and have offers from hedge funds/IBs for 80K for tech positions (the one I'm trying to take right now is for arbitrage technology), and that money's barely enough, and I'm single. (And I'm contributing 0 to a 401k/IRA)

    Good luck supporting a wife in Manhattan w/ under 100K salary.
     
    #8     May 31, 2008
    Share
  9. MandelbrotSet

    MandelbrotSet

    Here's a linke to the backpage ... an apartment locating service also available at www.villagevoice.com.

    You should:

    1. Start pricing aparments.
    2. Add in the price of a garage and parking if you plan on driving around the city.
    3. Add in food and entertainment.
    4. Don't forget your special needs if you have a pet.
    5. Make sure you also have all of your benefits covered.
    6. On top of that are the student loans your wife will incur.
    8. You can add-in anything I left out ...

    Demoship is correcty, it's going to be an expensive proposition maintaining a family with just your income in a quality environment.

    GL
     
    #9     May 31, 2008
    Share
  10. demoship

    demoship

    If you're under 100K, you shouldn't bother pricing parking for a car, you won't have a car.

    Trust me, it's for the best. If you work in manhattan and live in manhattan, it's NOT WORTH HAVING A CAR, all it's going to do is cost you $500 a month for parking and insurance and you'll get very little usage out of it.

    I'd also avoid having a pet, a lot of places dont allow pets, and a lot of places will charge you to keep a pet.
     
    #10     May 31, 2008
    Share