I was looking at my old bookmarks, and I found this article. Its about David Berry, he was the highest paid trader in Canada in the early 2000's, before he was was fired. Toronto Life wrote a really good article about him a couple years back. you should all check it out.
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Yeah I read this a while back. Cool story, I wonder how the lawsuit is coming along.
Btw, there are other traders here who make more than 15MM a year now. I've heard of some 20MM+ bonuses on Bay Street (granted these could also be grossly exaggerated).
Thats interesting. I was always under the impression that although bay street traders make good money, they don't make 10 MM+. I know that that RBC has some rock star traders but that make that much but I heard there all in NYC.
From what shops lol!? thats fucking grotesque
Cool story
Good article and seems this case is still ongoing
great article, thanks for posting
Like I said, I haven't seen any pay stubs. This is all stuff I heard through the grapevine. But I heard that a trader at TD Securities got a 18MM bonus last year, and someone at RBC got over 20MM. I just assumed that they were on Bay St, but who knows, they could be NYC guys.
If this is true. I am guessing the RBC guy was probably working in the global arbitrage trading desk. The TD guy was probably on bay street. I don't think TD is that big in NYC.
@jimz
Believe me it's not for a lack of trying. I've been trying to break into Sales/Trading/Structuring for two years. I've met a lot of people along the way but haven't had any luck converting to an offer. Came pretty close this year, but now I feel like I'll have to take too much of a hit in base comp to make the switch, since I highly doubt anyone would hire me as a VP (even Associate is doubtful). And I honestly cannot imagine getting paid 70K base as an analyst any more, regardless of how big the bonus may be.
At the firm that I interned for. The students that were doing there MFE/MSF got paid 105K pro-rated and they had no previous experience (did there masters right after undergrad). You with experience even though its not trading I would assume would be an associate.
just some helpful advice. i work on a trading desk at a bulge bracket and i've seen a few different areas in my time. there is zero shot you will come in as a VP. associate is unlikely unless it is sales and someone very sr pushes hard for you. analyst is most likely -- if you're serious about getting in this business, suck it up and take 70k base. i cannot understand how to reconcile you saying "i've been trying so hard, i really want to do it" and "i don't even care what the bonus is, 70k is too low."
Tarueeee!
I've heard of a few people at cannacord and cormark who also make it rain on that caliber. I think the biggest bucks get grabbed at the BBs
Off topic, but manbearpig I am surprised that you work at Deliote. I would have guessed that you were a trader for a Canadian bank.
$20m? pff... This is why people should not give up on NY/the US yet. Can someone find the article with the quote, "I personally know at least a hundred traders who made $100m last year."
APPARENTLY NOBODY REALIZES CANADA IS A JOKE. SEE BELOW...
...found it: "I can list a hundred people I know personally who made over $100 million last year," attests a trader at a big hedge fund. It takes your breath away. http://anderson-real-estate.com/PDFs/ArticlesonGreenwich/Vanity%20Fair%…
Great article thanks, definitely rooting for the guy
In his Prime hunter made way over $15mm a year, 2006-2008 I am sure energy traders made more than bay street guys easily.
I do agree with your statement above. However are you taking about energy traders in Calgary? Hunter was working for amaranth at that time. Although he had an office in Calgary, he was still working for a hedge fund based in the US.
By the way is your compensation figure for Brian Hunter is way off. He made $75 MM just in 2005.
Here is the link:
http://www.canada.com/nationalpost/financialpost/story.html?id=7dbce877…
Yes I am talking mainly calgary energy traders. I said way over...did you want an exact figure? Also I am talking about before he went to Amanrath or so. In early 2000s, power traders at TransAlata, TransCanada energy making 7-10 million a year was not unheard of as one example.
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