income >= $0.00 on a good year (graduate student…this year is not a good year)
$6.53/hour here.
mumukada Wrote: ------------------------------------------------------- > ^^ haha…exactly! > > I think he meant Liras…
if you mean Lires, like the Italian Lire, then I will surely take that; that is still 8 figures; at $1 USD = 1200 Lires
how can we earn more money? is trader a good position to make more $ ?
More money and no life at all.
This morning I found 2 bucks under my couch, things are looking up.
doworkson Wrote: ------------------------------------------------------- > This morning I found 2 bucks under my couch, > things are looking up. And then you realized they were Vietnameze dong and burned them.
maratikus Wrote: ------------------------------------------------------- > doworkson Wrote: > -------------------------------------------------- > ----- > > This morning I found 2 bucks under my couch, > > things are looking up. > > And then you realized they were Vietnameze dong > and burned them. Don’t burn the couch.
Smarshy, BC? Low 6 figure base comp, with 10% of annual profits.
I have been a net taker from this site…and appreciate following all the posts. anyway, thought this was a chance for me to contribute: 1 - i have a professional accounting designation, 5 years at big accounting firm, and 8 years at an investment bank (2 in equity research; 6 in equity sales [current role]). my pay is similar to smarshy. 2 - the reason i am getting CFA…given that i have a 13 year career mixed between accounting and equities have realized…is that i think ultimately i would like to do something that is a little more intellectually honest while maintaining my current rate of pay. cost of admission to any buyside firm seems to be CFA as a minimum and for me to get to that side of the street i felt this was a necessary (and useful) step.
I’m seriously debating finishing a designation that seems to now only be the price of admission, as I’ve already snuck pass the doorman. I think it’s only my ego driving me now…but as it gets in the way of work during very busy time of year(s), the cost/benefit is out of whack.
I’m suprised that people won’t say how much they make. I could really care less, I make 32k, yeah it sucks to live on but I’m sure I’ll move up soon, hopefully break 40k within a year or two… I have more dedication and drive than anyone I know and I’m up for promotion after being at my current employer after only 5 months. They see me study and see my dedication. I’m sure more than half of the people on here make less than 50k, if I am wrong than I am my own world.
crap, I make 50k and I’m not even in the industry.
I don’t mind either. I make 50k as well but I also live in Florida so there’s a bit of a COL difference. I have been in the industry for 3 years + 1 year of accounting and started out at around 35k. Then again, I also only deal with mutual funds, so its not nearly as complex or involved as what many of you probably deal with…
Hey Smarsh…where did you get the “explanations” for the mock exams. I must not have seen that option.
They are available on the internet.
I have what may be an extremely dumb question, but I live in Texas and it definitely is not the finance capital of the world. But what exactly does a “trader” do. I always see that job title. Where I work the traders just process the clients orders, which seems kind of mundane and boring… Is there more to it at the big investment banking firms? I know this probably isn’t just a simple answer either, I’m sure it varies from place to place, and to tie it into this forum, do they make a lot of money?
Lance, are you even joking? Isn’t Houston or Austin filled with financial companies?
Dude, you can’t be serious
Sell side (investment bank traders)…in very basic terms, three types: 1) sales-trader - bascially you get to know the buy-side traders, know what positions they have in their portfolio and then try and generate orders based on your relationship with them (and providing them services, like firm research)…this is perhaps a step above what you describe as filling client orders as there is relationship building and service involved; 2) trader - this role supports the sales trader and actually works the order (tries to find a buy, when your firm has a sell), acts as a market maker to get trades done, works with the exchange to find/place liquidity (trades); 3) Principal traders - actually using firm capital to make trades, place bets on market direction, perceived valuation mismatches. Caveat to all this is that each sell side firm is a bit different, and may increase/decrease responsibilities of each role within some measure. Also, you would have these sets of roles for each type of product: equities, corp bonds, currencies, converts, etc.