|
|
#61
10-16-2006, 09:51 AM
|
|||
|
|||
Re: Say goodbye to the dream
[ QUOTE ]
"The hours are something like 6:30am to between 5-8pm at night, so serious hours." I missed this the first time around. [/ QUOTE ] And thats likely 6 - 7 days a week. Your hourly is actually pretty low in a relative business sense for your first few years. Honestly strasser, congrats. I really respect this kind of ambition because it's something I lack right now. I'm at one of the best business schools in Canada and am currently being recruited by the same companies you're talking about, but am extremely unmotivated to actually sign a contract. I-banking and the like seems especially tough because you are literally working 80-90 hours every single week. Something I just couldn't do, but something I wish I could. In any case, good luck. 
|
|
#62
10-16-2006, 10:03 AM
|
|||
|
|||
|
Re: Say goodbye to the dream
"And thats likely 6 - 7 days a week. Your hourly is actually pretty low in a relative business sense for your first few years."
What are you talking about, people are making 7 figures after 2-3 years.
|
|
#63
10-16-2006, 10:22 AM
|
|||
|
|||
|
Re: Say goodbye to the dream
[ QUOTE ]
There are certainly more interesting things to do with your life than to play poker. I'm not sure that trading financial securities is one of them. [/ QUOTE ] They seem like almost identical careers for me in a lot of ways. Not that I disagree with your decision, I just don't see what you will get from trading that you don't get from poker besides maybe more $$$.
|
|
#64
10-16-2006, 10:25 AM
|
|||
|
|||
|
Re: Say goodbye to the dream
[ QUOTE ]
"And thats likely 6 - 7 days a week. Your hourly is actually pretty low in a relative business sense for your first few years." What are you talking about, people are making 7 figures after 2-3 years. [/ QUOTE ] He's not talking about overall EV gained in the first few years, he's talking about take home $/hour. And working 70 hours a week for 50 weeks of the year on a $100k take home is only 30-something bucks an hour. Factoring in the potential income possibilities it's obviously more.
|
|
#65
10-16-2006, 10:25 AM
|
|||
|
|||
|
Re: Say goodbye to the dream
[ QUOTE ]
Strassa, I always got the impression that trading is a long term -EV method to invest in stock that vast majority of people lose money becaues they can't eat the fees in the long run. [/ QUOTE ] AllinLife, Who do you think pockets the fees? Morgan Stanley, JP Morgan, Goldman Sachs.....
|
|
#67
10-16-2006, 10:26 AM
|
|||
|
|||
|
Re: Say goodbye to the dream
Smart choice, Jason. It's what I'd expect from a fellow Trinity alum [img]/images/graemlins/wink.gif[/img] Hopefully, others will be inspired by your post and choose wisely as well.
|
|
#68
10-16-2006, 10:33 AM
|
|||
|
|||
|
Re: Say goodbye to the dream
[ QUOTE ]
[ QUOTE ] "And thats likely 6 - 7 days a week. Your hourly is actually pretty low in a relative business sense for your first few years." What are you talking about, people are making 7 figures after 2-3 years. [/ QUOTE ] He's not talking about overall EV gained in the first few years, he's talking about take home $/hour. And working 70 hours a week for 50 weeks of the year on a $100k take home is only 30-something bucks an hour. Factoring in the potential income possibilities it's obviously more. [/ QUOTE ] So you make $30/hr for three years, and then you make 7 figures/year?
|
|
#69
10-16-2006, 10:38 AM
|
|||
|
|||
|
Re: Say goodbye to the dream
Jason,
If you accept any one of the trading positions offered to you, then you will be making a very wise choice. For a number of years I was a member of the American Stock Exchange and made markets in equity options. There were quite a few bridge, backgammon, and chess players on the floor in those days, including Jason Lester and Paul Magriel (on the COMEX I think). I know that a lot of the floor traders would envy the training and support that you will receive from the big firms. Trading a desk on Wall Street is infinitely more interesting and complex than poker. You will meet very interesting people, you will learn a great deal more about the world than you could spending all day at the Bellagio, and your expected lifetime earn is much much greater than it would ever be at poker.....even for someone with your skills and prior record of success. Which job to take? They are all top firms with top training programs. My own inclination would be to choose an equity options job over a commodity trading desk. Its more mathematical and broader based, with broader applications throughout finance. Goldman is the premier firm, but all three are first class. Good luck and congratulations on making a very very wise move. Suerte, Jonathan
|
|
#70
10-16-2006, 10:41 AM
|
|||
|
|||
|
Re: Say goodbye to the dream
I have a few friends who work trading for GS and love it. However I think the culture of the office may really suck for you compared to JPM and MS - very fratastic, jewish and yuppie. I had a friend who was in final rounds of ibanking interviews for them and they strung him along for so long that other offers expired as he was waiting to here from them. Im not sure if GS trading will be the same way (my other friends who do work there all had offers after summer internships), however it is something to look out for.
In terms of the work, trading derivs sucks however at least theyre based off stocks so that wont be nearly as bad.
|
 |
|
|
Linear Mode
