Say goodbye to the dream

[fish2plus2]

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7figures per year > 60-100k per year

lol

but I guess its whatever makes you sleep better at night

my expenses >100k per year
so I dont have a choice, I got to hustle

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If you add up all the hours, first year trading comes out to something like $15/hour, which is obviously not a great number! However, when you have bosses that are 27 and are making close to 8 figures (The fairly standard number is 15% of your total profit in bonus), the implied odds are pretty good.

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Can you expand on this? $10million/year at 27 is Professional Sports money.

You only have a BA right? You get a job as a trainer working 70hr weeks at $15/hr. How do you go from that to $10m/yr in 5 years(?)?

[Jason Strasser (strassa2)]

First year you get trained. So for 1-2 months you go to a classroom like setup to learn stuff. Then you go on desk rotation where you spend 5 weeks at a desk and rotate through something like 4-5 desks. Then by the end of the year, you get your feet wet trading. By your second year you probably are getting comfortable with a book and are starting to trade, but the amt of capital they give you is limited. By the end of your second year, the firm will either let you go if they don't want you, or promote you from analyst to associate. Then you get a higher base salary and higher levels of capital to invest. Then, if you do well, you start looking at 7 figure bonus checks.

-Jason

[fish2plus2]

So they keep eliminating those who dont perform well on a yearly basis? That is pretty cool. I never heard of anything like that before.

[Jason Strasser (strassa2)]

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So they keep eliminating those who dont perform well on a yearly basis? That is pretty cool. I never heard of anything like that before.

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If you dont perform they either move you around to different desks or they fire you, after a while.

[SlowHabit]

Exactly what job did you apply for?

[fsuplayer]

[ QUOTE ]
First year you get trained. So for 1-2 months you go to a classroom like setup to learn stuff. Then you go on desk rotation where you spend 5 weeks at a desk and rotate through something like 4-5 desks. Then by the end of the year, you get your feet wet trading. By your second year you probably are getting comfortable with a book and are starting to trade, but the amt of capital they give you is limited. By the end of your second year, the firm will either let you go if they don't want you, or promote you from analyst to associate. Then you get a higher base salary and higher levels of capital to invest. Then, if you do well, you start looking at 7 figure bonus checks.

-Jason

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any idea what % of noobs are able to stay on at the end of second year?

also, what % of those that do make 7 figures in the next couple years?

im also interested, bc this is higher $$ figures from what ive heard from friends who work on wall street. maybe they have different gigs though.

[fish2plus2]

So are the majority of traders young guys <35 since it seems like there is a very high burnout factor?

[Jason Strasser (strassa2)]

yes most are on the young side. Most that are successful at 35 also have plenty of money to retire.

[g-p]

jason,
im interested in this because i am in the process of getting a computer engineering degree, but i dont want to do anything related to that. could you elaborate more on how these firms like engineering backgrounds? i have no experience in investing besides helping my dad look up info on stocks when i was a kid that was good with computers. you didnt have a minor in finance or anything?

[Jason Strasser (strassa2)]

trading jobs have sick amounts of upside.... Its just that it takes a certain type of mentality to enjoy the everyday pain. I think most people do end up being invited to stay after 2 years--largely because the firm invests so much into training and unless you really arent good or cut out for it, they want to give you a shot.