Who makes more money? Stock trader or Investment banker?

Who makes more money? Stock trader or Investment banker?

I'll be starting on a phd in financial economics this upcoming fall from a non-target. And i'm looking for advice on what I should be doing to make myself a better trader.

In the past, I have taken C++ (2 courses), SQL (1 course). I plan to take level 2 of SQL over the summer, and visual basic (1-2) eventually. My math background is typical, calc1-3, linear algebra, and differential equations.

My phd program comprises of the following coursework for 2.5 years.
1. Advanced Microeconomics
2. Advanced Macroeconomics
3. Seminar in Microeconomics
4. Corporate Financial Theory
5. Investments
6. Financial Markets & Institutions
7. Mathematics in Financial Economics
8. Econometrics I
9. Econometrics II
10. Seminar in Econometric Methods
11. Seminar in Corporate Finance

I was looking at some alumni that got into some canadian banks as traders and most of them actually started out doing something else related to S&T or a certain tech role pertaining to derivatives lets say and a few years after graduating they would apply to a different bank as a trader for the area they are working in. Is it easier to break in this way as an experienced hire versus as an intern?

Some of these people worked in s&t at american banks then applied as traders back in Canada, so was the reason they got in because of this foreign experience?

I'm considering joining a prop trading firm (of course after obtaining my Series 66), but what can I expect to pull out yearly? If you could give me ball park figures from lower tier(the type that make you pay a down payment) to upper tier that be cool. I know it's based on your performance, but on average?

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I don't understand how trading can produce consistent profits. Where does one's "edge" come from? I am a fundamentals guy (long time horizon), so please excuse the ignorance.

Hiya,
I read the other day about something referred to as a convex trade, seems as if that is a good thing, but could someone explain a bit more?
Thanks

Is a trade finance internship worth it with CIT as a sophmore?

What are your thoughts on an internship at a Financing and financial services company such as GE Capital or CIT working in their Corporate Finance or Trade Finance groups?

Would this be a good way to start your career?

Is it good leverage to intern at a better place next year?

CIT has a healthcare IB group- thoughts?

Typical compensation for a FT corpfin or trade finance role?

Thanks?

We've all heard of the massive deficits in America and how much we owe to the rest of the world. So here's a simple solution. Borrow all the money for our entitlement programs from foreigners and when it's time to pay up, we say "What money?" It's not like anyone has the balls go to war with a country that has 5,000+ nukes (that we know about.) What are they gonna do cut us off of trade? The United States is a very domestic based economy and it seems like every time we trade, we end up with a trade deficit, so why bother? If someone threatens to cut off the oil supply, we send in the troops and kill everyone that is screwing up the supply line. While at the same time staying far away from humanitarian aid missions.

American Empire restored.

So Knicks fans, you got your Carmelo Anthony. I have a feeling there's going to be a sharp divide between you guys as to how you feel about this.

I must say, as somebody who has always had a large amount of dislike (hatred) for both the Knicks (no offense to you guys, of course) and the Nuggets, I'm pretty happy about this deal...

Interested in hearing what you guys have to say.

I received a free $100 with a promotion to UWCFX and selected to leverage my account 500x.

I made a play on the EURUSD last night and the trade moved against me .003 before being sold off. However, today it soared to 1.33 and would have made a nice penny with this trade if the account was not sold off.

I did not put any stop loss on my account, would brokerages usually sell off my positions like this?

Background:
I’m a 23 yr old recent college graduate (University of Miami 2010) BBS Major: Finance, Minor Management (Cum GPA 3.6, 3.8 major/ minor GPA (sociology, geography, and sports injuries B-‘s really put a damper on my cum)
Brief Past experience:
Brief 2 month B2B sales job for at&t solution provider (made around 1k/week in commission that I never ended up seeing (only got paid first $100 of each commission) b/c of home office pulling some out of territory illegal sales… lawsuit pending… not expecting anything to come of it)
Internship at Brightstar Corp. Miami FL (5 months as assistant to chief of staff, 1 day a week)
Worked for my dad’s company (General contractor high end homes in Central NJ) for two summers.
Situation:

Hey guys,

just curious to see what everyone view is on how to look for specific stocks to trade with.

Sometimes i use stock screeners or just go with "a feel"

lately ive been looking at natural gas, but it seems a bit to high at the moment.

something else ive been looking at is companys who lease commercial jets, repair engines etc... i.e. Aercap

look forward to hearing

So do you want to make a million dollars today?!

HERE IS THE TRADE!!

The second round of mortgage problems are here!!! So simply short the financials.

Buy 1,000 calls of of the ETF - SKF (ProShares UltraShort Financials).

November 10, 2010 Calls, $22 strike price

Initial cost:
(100 x $0.46) = $46.00 (current price of option as of October 20 6:38am NY)

$46.00 x 1,000 = $46,000

Then sit back and watch the second wave of housing fat get served

We'll check back on Friday to see the trade.

Just saw that China is starting to embargo rare earth metals from being shipped to the US (they started with Japan back in September). In addition to being important because the metals are used in most electronics, apparently China mines 95% of them.

http://www.nytimes.com/2010/10/20/business/global/...

Any thoughts on what the US is going to and more importantly what they should do?

In preparation of S&T interviews, I've seen many examples of equity trade ideas that are commonly asked in interviews. If I am interested in Fixed Income, is it probable that they could ask for a FI only trade idea?

If so, can you provide an example to illustrate what depth of explanation I need... For instance, for an equity, you could reference current prices and ratios, indicate corporate actions to potentially cause price movement, and/or general macroeconomic shifts.

How would I do this for an FI idea?

Thanks!

I am looking for starting salary figures for equity traders in chicago. I already have my liscenes and 3+ years trading brackground., and trade life cycle.

I am looking for starting salaries at BOA, and JP Morgan. Any help is great.

I know that a common question in interviews is: What is the biggest risk you've taken? Do you have your own trading account?

I have been debating whether or not I should open a real account, but was wondering if anyone new of any useful "play" accounts that are respected and accurate.

Also, what are interviewers looking for specificallywhen asking this question?

I see this subject come up a lot on here so i just wanted to address this issue in case any newbies out there are considering a "position" at one of these arcade shops ... a little word of wisdom in life: A job is supposed to pay you, not the other way around. any firm that requires you to contribute capital without a salary of any kind is BULLSH*T. they are simply trying to make money off of transaction fees, and you will find yourself broke within 3 months or less. so do yourself a favor and search out the more legitimate shops in nyc and chicago. they are out there, you just have to look. and dont settle for an arcade, they are honestly pathetic and they would hire an infant if they had the capital to put forth. hope this helps ...

Anyone know some names of European prop shops. Lets say firms similar to fny, sig, trillium, js...but that are based in Europe. Thanks

I'm currently at a boutique s&t firm (sell side fixed income firm) and although the experience is decent, I really want to get into a mm or bb s&t program. I've got a bunch of reasons but im wondering how to express this while trying to network and any potential interviews.
The pay is well below st. The pay is very much a kill what you eat making it extremely difficult to do well for awhile. They are a completely risk averse shop meaning straight market making (i am aware of possible banking legislation and dont need to hear it here) Although not expecting any "legit work" being that im a first year, im getting little formal training and no opportunities to do anything analytical. Being that my main concern is pay (now and in the near future) and I don't feel like this is a great reason to tell people why I want to leave, what other reasons have ppl used why they wana move from a boutique to a bigger shop in the same sector, specifically s&t?

Hi,

I have 8 years of experience as a reverse engineering for ABS/MBS securities and 2 years as a content operation manager for ABS/MBS securities. Our product is normally called 'Structured Products', but I realize that Structured Products cover a wide range of securities - ABS, MBS, CDO, CMO, ILN, CLN, Structured Notes and etc.

Recently I saw a posting for 'Trade and Securitization Finance'. Does anyone know what it is and what requirement for this type of job? Initially I thought my backround is related to it, but after reading the posting, I found that 'my experience' is quite limited... lol...

Any idea? Really appreciate your help!

Fortunes come and go, but the lessons you learn last forever....and are worth more than their weight in gold.

Disagree? Discuss

What trading desk requires the most math? That doesn't revolve around HFT? For example: Structured Credit Trading, derivatives, , etc!

Oh, also that would require only major in Math+ Economics major with a few Master level classes. Thus, none of the Ph.d in XXXXX,YYYYYYYY,ZZZZZ kind of jobs!

Is BB sales and trade worth doing in SF?

Has anyone had experience in sales and trade in San Francisco? Did you end up in NY later on?

What is the typical perception of west coast sales and trade?

So this is just a forum to help decide which online broker is the best, i've done some research have personally decided TradeKing is the way to go, but I'm looking for some insight into your opinions and your reasons, any horror stories? amazing successes? which ones offer the best software and research programs? go at it