So you want to work on Wall Street; but you have a terrible gpa from a non target school?
A six month slavery stint is calling your name! Today I came to find out there is people in retail making seven figures a year. That's more than your MD at Goldman's TMT top bucket bonus. Forget about the private equity MD. The only thing that makes more money is a hedge fund.
Essentially this is what you need to do.
Connect for your boss boiler room style (Remember this is all legal; don't get stupid ideas now).
Get licensed and SELL stock a lot of it and all day long. Have someone dial all day for you all day long and sell good stock (that goes up).
Call all your accounts and tell them to buy more stock (Stock that goes up is the most important factor here). If you are making money for them they will have no problem doing that.
Take gains before institutions and introduce equity derivatives to the client ( warning get the proper license to trade options) make them more money and everyone is happy.
If you charge them the maximum legal amount of every trade for comissions and you are running at least 10 million. You could be taking at least $500,000.00 per month. (provided you sell the sizzle and not the steak). Do not churn and burn!
There is more to it and its hard work but that ivy in PE could be shining yiur shoes in less than 2 years; provided you are a good sales man.
This being said im quitting investment banking to be a stock jockey.
There is a couple of firms where you can have a mixed book of clients (institutional and high networth individuals).
What is the point of working in I banking?!
Im jumping to the sales side.
"Take gains before institutions" Could you explain this aspect of your strategy? You lost me here...
That's how we all did it in the old days.
The G.O.D. of WSO has spoken. ^^^
I had no clue. And to think I actually wanted to stay in corporate finance...
With $10 million AUM, are you joking ?
PWM, stockbroker?
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