Best job for intraday downtime?
I am perusing the WSO compensation report and i’m am entirely underwhelmed by the salary + bonus figures across the entire industry. Not just IB, but all the other categories as well. I will throw out a number to anchor the discussion: 150k. I would rather not work at all than make anything less than 150k per year for 60 hours of work per week (scale accordingly). I’m sure I’m missing something when everyone wants to do banking when an engineering manager at Apple makes $350k.
Question But I have only one question for you: what role (IB, PE, VC, Equity Research, Corp Finance, Consulting) has the most downtime during the day? I want to squeeze in as much daytrading time as possible into my day job.
Please understand, I don’t care about hours; I don’t understand people who want to do anything other than make money. I certainly have nothing better to do. And I don’t give a shit about prior networking; I call the director and if I can’t get an interview in 2 minutes, then I don’t deserve that job. I don't want to go into trading because there's no future in that, there's no exit opportunities, and it doesn't build the skills needed to be CEO.
>>>All I’m asking from you is to draw on your experience and tell me on what area I should focus my efforts for my next job after I graduate with my Master's.
If you work in finance, you won't be able to day trade. All trades must have prior approval from compliance (the process is not quick) and you'll be heavily restricted in terms of what you can trade and the length of the holding period.
Your best bet is to work as a prison security guard.
Yes as advised above due to compliance you'll be heavily restricted in what you can trade. Best bet is to skip the IB step and just launch your own hedge fund. No compliance and plenty of time to day trade. I'm sure you'll be a booming success.
I don't trade equities and I don't trade under my name. This is a non-issue.
Let's focus on getting information out into the open on which of the above industries offer the best "slacktime" before 10am ET and in the one hour before market close.
So you're trading fraudulently under someone's name? Even if you are not, and are trading on someones behalf but you are a beneficial owner, you have to report those trades. Options on restricted securities are not allowed either, and would need to be reported, and potentially would need approval on non-restricted securities if it is allowed.
Why not just apply for a ceo job instead and save yourself years of work? Or play the lottery.
Go into consulting. Specifically, all privately held consulting companies (McK, Bain, BCG, PwC to name a few) all do not have trading restrictions. And consulting work can/could lead to you being a CEO of something while you finding the work somewhat interesting compared to be a prison security guard.
Food for thought.
Your OP literally said "I want to be paid more than 150k first year out of college while being a liability."
Do you really think first year bankers (or any profession) have all the skills developed to contribute that much worth to a company so quickly?
go for the engineering manager gig at Apple... I am surprised a person as confident and talented (apparently) as you is even considering a sub-300K job in your first year.. Doesn't matter if you are not studying engineering, I am sure a 2 minute call with Tim cook will get you in...
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