Trader Monthly is no more, so Wall Street Cheat Sheet took over the list, I only wish they had done the full Top 30 under 30 instead of only 3...
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Number 3 actually posted in this epic thread: http://www.wallstreetoasis.com/forums/racing-towards-excellence-by-muza…
What's with the cheesy BBall references?
PS, and this may be an amateurish question, but why did Trader Monthly stop publishing? Were they hedged with the housing market or something? I mean of all the sectors of Finance Traders have made the most off this volatility and stand to loose the least with the new reform.....
I think their publisher went bust. They had a whole line of douchey Trader Monthly, Rainmaker etc. publications. When bonuses started crashing in '08 and conspicuous consumption was deemed uncouth, they got hit pretty hard.
Just read that epic thread.....pretty ironic to think that all those guys were comparing wang size with this kid for no reason, and now look where he is? Making millions for a Financial Juggernaut in one of the Greatest cities in the world....
He's not making millions. He hasn't even been trading for a year. I don't want to take anything away from him, but he's not on the list because of his trading acumen.
Let's see how he's doing 2 years from now.
Jan seems like a pretty level headed guy from his posts
@mc trader I actually think it's a good idea to compare these hotshots to NBA hotshots so aspiring traders can get a dose of reality. For every one NBA player who makes 7 figures a year there are probably 500 who will die trying.
The first guy is 23. That is ridiculous. My dad sent me this and told me I've got 2 years to beat the youngest on the list. No way I'll even be close.
Technically, "all you need to do" is get onto the EM trading desk at GS. The guy is probably making analyst comp at this point.
This guy is legit.
I have about half a decade's time to one-up him funster.
he is a 23 year old market maker. he's not making millions and making money in that seat ain't hard...he gets to rip off clients all day long in very illiquid markets. Not knocking the kid but he shouldnt be compared to a prop traders or hedge fund people.
Of course he is not making millions.. Are you out of your mind, people? He joined the analyst programme a year ago - and you think GS would trust him enough capital to be able to "make millions?" His team is making millions for GS, sure and he probably looks after a huge book together with 5 or so other people, which includes managing directors, VPs etc. Anyone who thinks a 23yo analyst could make millions at GS after 1st year doesn't understand how banks work. He might be making millions 5-7 years down the line though but not in his 1st year.
According to my friend who knows him, he joined in as an associate not an analyst. He also has p/l responsibility.
Take it for what its worth.
He completed summer analyst programme in aug 2008 and joined as a first year analyst in summer 2009. This info is 100% correct.
Everyone on the trading floor has pnl responsibility, even analysts - I did not say that he didn't have one. But newbie individual traders don't have individual books to manage - usually there is one huge book that is managed by the team.
Sometimes, there is also smth that is called a "back book" where you can play a little yourself, but even for associates the size of this book is tiny. Certainly not enough to make millions out of it.
In fact, any analyst can claim he is making millions for their bank as part of a group - cause there is their input in any M&A deal. But those who do that sound like Mr. Alex Vayner.
Puzich, I agree with you for the most part. But there are exceptions to this rule across the street. Jason Strasser single-handedly manages the technology single-name options book at MS. He's considered a 3rd year analyst, but he is in fact the primary for market making of names in that book.
I reiterate, he is the exception and not the rule, but I don't want prospective analysts to get the idea that they have to wait till their senior associate years to be given control of an entire book.
CD~
Impressive. Jason Strasser must be making around $500K/year.
Sure, there are exceptions. But to reiterate, he is a first year analyst - anyone who has been with a bank for less than a year is extremely unlikely to be given a book to manage, especially of such a huge size. I am not sceptical about his abilities - no doubt this guy is extraordinary and might be making millions by the age of 27-30, but he has been with GS for too short time.
Those lists are pretty much BS. There are many more guys under 30 that could get on those lists. But, they don't have any interest in telling the world about their income. The old Trader Monthly lists were constructed from info that people submitted to the magazine. There is no central list of traders and their incomes.
Unless these traders are showing their tax returns to their friends, i don't know how these guys can estimate how much these traders are making. I'm sure there are some young superstars at places like citadel and GETCO who are bringing home seven-figures but have no desire to be featured in a cheesy magazine.
This is my favorite Trader Monthly moment: http://www.nypost.com/p/pagesix/item_qxHXKGSnI3Bifa36DkuUUL;jsessionid=…
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