D- I realize what you are saying, and I agree. In my opinion the real money is made as an Institutional Sales Trader. I had an interview recently with an I-Banking firm pretty well known. The weren't offering any base. However, of those that were decent producers I was shown documents as to their sales results. Stepping on aboard with a jr. level book of clients one could expect to take home a min. of 1.2m Of those that seemed to be in the middle range were doing 4m+ per year. Even in this market. I wasn't shown anything past these numbers. However, I myself am jr. So, I could very well imagine what those in the business for sometime with a sizable book of Institutional Clients could be bringing down. Just sharing what I've been exposed to. -momo
These "Senior Market Maker" and IB salaries being talked about do not represent the bulk of salaries in financial services. Sure a few people do make these numbers: very few. Most people inhabit other rungs of the ladder for the bulk of their careers.
I love message boards... if your girlfriend gets hungry, I'll give her a few hundred k - I'm so rich I don't even bother to count it. oh, when you stop by to pick it up you can see the cold fusion reactor I have running in my basement. I used to use it to power my 747 (it's portable of course), but flying got boring - now I just hop in the teleporter and off I go...
What's the real job title for an institutional trader and what kind of experience/education is necessary to get hired? Somewhat ironic , as the best traders that I know are college drop outs with no applicable professional experience.