I'm in the wrong line of work... 900k salary 3 years after undergrad....

[skim milk]

I wonder if anyone from here has been there done that and made that sum of cash.

I worked as a trader at a global bank similar to BoA but didn't make that kind of cash. My base was six figures though. That type was cash was during the good years before the financial crisis and pre-volcker rule which really limits many of the proprietary trading activities. The girl who sat behind me (one of few women in the trading industry) made about 650k per year and the guy next to me made about 350k but this is after the desk dialed back on risk and became conservative so less profit to share for everyone. They were in their mid 30s. However, there are many downsides such as having to be in at work by 5-5:30 am if you work at a west coast office and having lack of transferable skills. If you have any questions, I'd gladly answer.

 

[mikegg]

He is completely right about one thing:

All those morons inventing shit to trade like derivatives could vanish right now and the world would be fine.

Our economy, in fact our entire country, is a joke because people who simply engage in a glorified form of gambling can make so much money while people who actually change, improve, and save lives get scraps.

This isn't a cry for socialism or some other form of economy, I'm simply pointing out the travesty that is the human propensity for extreme greed.

Damn right.

I remember hearing this quote that goes something like this:

"Wallstreet workers build pits and holes. Engineers build bridges."

We won't miss anyone if all wallstreet workers disappeared overnight. All they do is create fake, ponzi scheme like "products" and steal from the world. They bring nothing to society. They are far worse than lawyers.

 

[Aldon]

I worked as a trader at a global bank similar to BoA but didn't make that kind of cash. My base was six figures though. That type was cash was during the good years before the financial crisis and pre-volcker rule which really limits many of the proprietary trading activities. The girl who sat behind me (one of few women in the trading industry) made about 650k per year and the guy next to me made about 350k but this is after the desk dialed back on risk and became conservative so less profit to share for everyone. They were in their mid 30s. However, there are many downsides such as having to be in at work by 5-5:30 am if you work at a west coast office and having lack of transferable skills. If you have any questions, I'd gladly answer.

What made you get the job? Degree? Friends with benefits?

 

[dr150]

he got married. he'll lose 50%.

They all get eventually divorced and they will take a huge hit.

In the old days, the guys would hoard the cash and put it into a Swiss bank under a single name. That shit won't fly any more with the evolving new Swiss law treatments.


Btw....nobody should be impressed by this. These guys are largely unhappy, paranoid, coked, and unhealthily competitive. My advice to all of you is to find a gratifying job, save, and you'll have enough money when you're old.

 

[alkemyst]

Damn right.

I remember hearing this quote that goes something like this:

"Wallstreet workers build pits and holes. Engineers build bridges."

We won't miss anyone if all wallstreet workers disappeared overnight. All they do is create fake, ponzi scheme like "products" and steal from the world. They bring nothing to society. They are far worse than lawyers.

You forget the basis of this enterprise is to get corporations the needed money for them to grow and put that in the form of stock into the people's hands so they can own a piece of a corporation as well as profit from it.

 

[alkemyst]

They all get eventually divorced and they will take a huge hit.

In the old days, the guys would hoard the cash and put it into a Swiss bank under a single name. That shit won't fly any more with the evolving new Swiss law treatments.


Btw....nobody should be impressed by this. These guys are largely unhappy, paranoid, coked, and unhealthily competitive. My advice to all of you is to find a gratifying job, save, and you'll have enough money when you're old.

The problem is in the old days most didn't know about swiss accounts...once they become known (like real estate flipping) the gig is up.

There are plenty of countries willing to take our money and that will not reciprocate with the US. The problem is your money is carried at a higher risk and chances are if the shit really hit the fan and you will pretty destitute those countries may tell you to go pound sand.

 

[mikegg]

You forget the basis of this enterprise is to get corporations the needed money for them to grow and put that in the form of stock into the people's hands so they can own a piece of a corporation as well as profit from it.

You forget that you can do that without lying to people, making millions in incentives, and causing a world wide economic collapse.

 

[skim milk]

What made you get the job? Degree? Friends with benefits?

My degree. They were only hiring at 4 select universities and I was graduating from one of those schools. Getting the interview is the first hurdle. Passing the rigorous interview process is the real filter.

 

[Aldon]

My degree. They were only hiring at 4 select universities and I was graduating from one of those schools. Getting the interview is the first hurdle. Passing the rigorous interview process is the real filter.

Was it a bachelor's and which one, if it was?

 

[alkemyst]

You forget that you can do that without lying to people, making millions in incentives, and causing a world wide economic collapse.

You are delusional at best.

 

[brianmanahan]

You are delusional at best.

but but but occupy wall street!!!!

lol

 

[skim milk]

Was it a bachelor's and which one, if it was?

It was a M.S. degree in Industrial Engineering. But you can still get an interview with just a Bachelor's as long as it's somewhat quantitative (Math, Engineering, Stat, Econ, etc) and from a good brand name school.