this is a no branier...imagine the career prospects at goldman. u may even be able to pursue every trader's dream to start a hegde fund. and 500k a yr? that's supergood money fellas, and guaranteed...most of us cant make those figures in 5-10yrs and with the ever loomin' prospect of seein' our edge goin' down the toilet.
You also have to factor in the giant sized bonuses given by Goldman and you can't forget about the possible contacts you make while working there. Work there for a few years and then open up your own shop under your own circumstances. That would be the way to go IMO.
These comments are irrational. The objective is to compound wealth, the pleasure of working in your underwear from home should be a somewhat distant secondary objective. If your said 100,000 in trading profits comes as a result of compounding 50% on 200,000 then if all goes well you're looking at the following schedule 200,000 300,000 450,000 675,000 1,012,500 ignoring taxes if instead you swallowed your pride, bought a suit and went to work at the said 500,000 a year job, you're looking at the following schedule 200,000 700,000 1,200,000 1,700,000 2,200,000 again ignoring taxes You should be able to conclude that your optimal decision is to work for 2 years and then resign to trade from home at the said 50%, in which case you get the following schedule 200,000 700,000 1,200,000 <quit> 1,850,000 2,700,000 All this is a long winded way of saying most people work until they can save enough to trade on to make it worth their while.
Don't be naive. Not everyone gets a fat bonus. You don't get a fat bonus by just being there. You work for it. You earn it. Just like any profession, the top 5% of the people take home the trophy. The loser gets the boot. What you don't hear about is how most of the people left with ulcer, depression, hair loss, insomnia, marriage break down. They spent their off hours in the bar getting drunk to get relief. Others spent so much of their money on stupid purchases (e.g. Ferrari, etc.,) because they were so stressed out. Sure you might envy them when you see them in their Ferraris, but there is a dark side to it that you don't see. Obviously you have never traded with real money. Once you got off the paper trading account and became successful, you might think differently. You'd then say: Who needs a big firm? I could do better on my own. But until you are profitable, the grass on the other side is always greener.
If your a good trader -- my guess is you'll make a good bonus end of story (I was not implying that the secretary would make a $500K bonus). I am well aware of the stresses and pitfalls of this profession. I am not arguing this point. You also have stress trading at home by yourself trying to learn the game. At least at one of these firms you might have a mentor teaching you the ropes. I stand by my previous post. Out of school its best to work for a big I-Bank for a few years -- learn the ins and outs of the business and then go out on your own (if you like). My last post on this thread.
um...well i will be making 100k this year.....and if GS or any other huge firm needs to pick my brain they got alot of problems.......but im here offering my brain to be picked!!!! and i can always learn from anybody...even somebody makin 1/2 of what i make or even someone who is just starting out but has some idea that nobody has thought of yet.....there are a zillion ways to take money out of the market and i know about 3 of them so if i can learn even one more out of the others (zillion - 3) that i dont know then im there! and if you think one person has more to offer a team of 500 or how ever big the firm is youd be going to you are highly over estimating the power of one.
speaking of goldman.....i have a friend that i grew up with that graduated from fordham.......upon graduation,his first interview was with goldman...............17,that`s right....seventeen interviews later he was hired & now heads the derivatives desk in london......always nice to see a friend & a guy from the blue collar neighborhood make it somewhat big.he definitely had the traits of a winner his whole life from little league on up....& always managed to one up me........if i put 4 balls(homeruns) in the street....he did 7 that year & we always had a healthy competetive rivalry that brought out the best in each other while coming up............that GS job was a great thing for him & took him places he`d never thought he`d see or do.....met pres clinton at several events,a 4000sqft apt in manhattan provided by GS,before he was groomed for london......GS does everything on the highest scale of operation possible that blew my mind....very happy for my friend but,imo,you can`t put a price tag on freedom....that`s always been my motto all thru life.i`m definitely a freedom seeker...always have been,always will be.i`m confident the best days are ahead of me but it`s more important to me to go get a massage, sit in the steam & sushi for lunch.....if i choose ,when i choose & for as long as i choose. however, i would`nt rule out accepting enormous sums of stupid money & get treated like royalty from the #1 players on the street if the opportunity presented itself for a year or two.
all that money obviously doesn't stop you from chatting with all these losers. Mr. Billionaire, do you need to talk to losers to make yourself feel better? That insecure? You may have money, but your ego is poor. (and you probably don't have money either) PS. Original Post of mine: You're an asshole. Then I realized... it'd be more fun to come to these boards and take out some frustration on these assholes... I'm snapping!!! [and laughing at the same time]
Now this is fascinating.....I am trying to stay out of the fighting though. Why did you guy chose to fight. No reason. Is there hostility just based from the trading competition. Your Ego is working in order to prove that you are the best. Calling some one names and making one be less than you are makes you superior. Very interesting. Just like politics and corporate world. But this is electronic, nothing face to face.