Why does everybody want front office?
I'm just curious because I see about 70 percent of the posts of people wanting to do S&T or IB,
What I don't understand about S&T is that those jobs are slowly disappearing to algorithmic trading because 80 percent of volumes are from high frequency trading, which is done by computers. They just fired the ten traders we have and replaced them with programmers. Could anybody verify this?
With IB I don't understand why people think that if they can't become an IB, that they will have no future at all. IB does have some great exit ops, but even your first few years you aren't paid AMAZING for how many damn hours you have to work.
Even if I personally had the chance to be an analyst at an IB, I wouldn't do it because the hours are ridiculous and you don't really see the benefit until after 3 years (if you even make it that far).
Could anybody clarify any of this for me?
troll?
DELETED
cognitive dissonance: you can't get a FO position so your brain tries to find reasons why FO positions are bad.
.
Deleted
.
take a hit in your twenties and forget work life balance. also, not to be elitist but I would rather be surrounded by ppl from ivies/T20 schools because I can relate to the culture, humor, and work ethic more.
Deleted
Sorry to double post, but if any of you are really really really good at computers you should learn Q/KDB (it's a real-time tick database for trading/compliance). There's this guy at my work hes like 27 and makes $400,000 base doing Q programming. There's no competition with it, but there's very little documentation and it's extremely difficult to learn.
$150,000 base + bonus with a 3.1 from Baruch in some IT role. That means you make more than 95% of all 1st year prop traders from what I understand.
Check out: https://www.renfund.com/vm/data_programming.vm . You are telling me you make more than programmers at rentec and you got that job with a 3.1 from Baruch?
Enlighten me bro
Deleted
Deleted
sorry for a triple post, but this guy just is an idiot
According to Ren:
Total expected first-year compensation will range between $125,000 and $250,000, depending on background and experience.
And I got the job because I interned there over the summer. If you an IT major GPA is worthless, it's all about how good you are on the job.
The job you posted is for a SENIOR programmer and requires experience (also doesnt mention bonus)...
My point with rentec was that with your 150+bonus you would fit right into that range which I think is bullshit.
I agree though that I don't understand all that IT stuff but what I do understand is that nobody in their right mind would pay 150k+ for a 3.1 from Baruch. Like you got C's and stuff in your classes?
[ delete this accidental double post]
Deleted
has no shot at banking posts on wso trolls hard brags about self
end thread/
thanks for that linda
Where is this 150k link again? I want to make 150k as an intern too
FO gives you a great skill set but it comes at a price of long hours for at least first 2-3 years.
Why does everyone want FO?
Hmmmm:
Why does every guy want a hot girlfriend?
Why do I want a Maserati?
Why did Alexander The Great invade Persia?
Stop asking stupid questions
What is so awesome about front office? (Originally Posted: 02/11/2007)
Is it just the $$$$? Or is the work in front office just that much interesting than work in the mid-office?
Is this a joke?
because anyplace else is just a toilet filled with shit
nice
double post, sorry.
If you don't like being around people and knowing how to kiss up appropriately, front office might not be a good fit.
aka, if you are a loser, take the loser position
There is no such thing as middle office. There is front office = generates P&L and back office = doesn't generate P&L (provides support activities to the front office). What the heck is middle office?
there definitely is a middle office. i'm not sure i'd consider risk to be mid office, but the guys reconcile p&l at the end of the day are generally referred to as middle office.
The legal department is a good example... In a law firm, lawyers bill clients up to $1K an hour for advice. At a bank, however, despite having in-house legal counsel, they still have to go to outside council, billing the bank thousands of dollars a year. It is to your benefit to be on the team bringing in the revenue, in my opinion.
Middle office in my opinion is internal finance, accounting, maybe even HR.
Backoffice is ops, payroll, mailroom...
Maxime delectus numquam dolorem nulla magnam voluptatem maxime sit. Explicabo eum numquam eos doloribus nihil corporis. Veniam voluptatum voluptatem aut est quisquam libero.
Ea reiciendis aspernatur voluptatum illum in quod. Corrupti vel cumque qui voluptatem sint consectetur minus assumenda. Dolorem voluptatum numquam voluptatem eum. Doloremque modi perspiciatis non cumque. Qui quis hic provident et. Est magnam molestiae explicabo voluptate. Natus vitae nostrum molestiae ea.
Alias quam et est qui. Dolore aut rerum ut quaerat. Sed aut corrupti aut. Occaecati dolorem ut molestiae possimus. Quos sint quae veritatis adipisci et saepe. Ipsam earum et eos dolorem explicabo veritatis eos.
Omnis ea minima dignissimos doloremque placeat distinctio eligendi. Voluptas excepturi voluptatem repellat sint sed. Quidem numquam dignissimos nulla iste nemo dolores quia. Iste impedit provident iusto nihil. Ut praesentium fugit et quos commodi.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Eligendi aliquam dicta consequatur et. Excepturi soluta sequi esse mollitia ut laudantium. Assumenda quaerat magnam nulla nam error ullam. Et voluptate ut ipsa qui. Enim cupiditate voluptas recusandae fugit qui. Quisquam est sed molestiae.
Eveniet et dolores perspiciatis doloribus fugiat. Libero ipsa culpa fugiat numquam qui placeat sed. Porro fugit labore ut sed ea. Soluta fugit harum sint.