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Note that this is not guaranteed or even expected at a prop shop or hedge fund either. I know of a very large hedge fund where pay is not as good as you think.
by vostok 10y ago
Note that this is not guaranteed or even expected at a prop shop or hedge fund either. I know of a very large hedge fund where pay is not as good as you think. I will just say that I have never seen a trader who makes $1 million per year claim that this is a good way of doing it.
You're probably better off as a SWE at Google than as a trader at this hedge fund.
- nvarsj 10y agoYeah it's not guaranteed at all. You have to be at a profitable desk to make it happen. I don't want to give any numbers since it's too variable, but I would guess it would still be a minority of the traders who pull 1 million+ even at the most successful firms. But I think if you are aiming for that number it's the most straightforward way - it has the least amount of variability and just relies on your own personal skill generally.
- vostok 10y agoHaving worked as a trader, a lot of it comes not from personal skill, but just from being in the right product, at the right firm, at the right time. Even at firms/desks that are in the right products at the right time, few people actually make 7 figures. If I'm not mistaken, you should be aware of this for a variety of reasons. I'm not convinced that making this kind of money is easier or more likely in finance than in tech.
- nvarsj 10y agoThanks for the insight! My experience is, admittedly, based on a limited sample size. I think you're right though, there is still huge variability for traders, and a lot of it is luck.
- vostok 10y agoI think that a sufficiently motivated person could find a leaked list of bonuses from that firm and check for themselves if there were any new grads that made $1 million+ and also check how many such persons there were.