20mm is crazy for an ethanol dude. Sounds about right for a top tier macro guy 

but why would he send the pic to all his brokers? Seems like a stupid thing to di

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Hedge funds, then trade shops, then majors, then refiners/producers/midstream, etc. at least generally when it comes to earning potential.  Though there are exceptions and the gap between some companies in different buckets may not be large.  There is also a general inverse relationship between pay potential and job stability, which goes with the territory.  And the highest payers may not be the best places to start. 


This is pretty much correct.  One thing to also point out is that the distribution of comp is really skewed.  For every fund guy taking home 8 figures, there are a lot of guys who either blew up (esp since most commod fund jobs nowadays are pod shops, with relatively tight draws), or weren't able to put on enough size for trades that worked.

I think the median fund guy is maybe slightly under TC for what they could make at a bank, but people go to HFs as a terminal job in the space.  


I feel like different shops' setup, comp structure differs too much to generalize; be sure to get a better idea of the place you are going to. That said, if we have t generalize, hedge fund and then prop shops probably the highest maximum. and then major (even then being trader is Exxon and BP are different, and being in Shell for longterm vs for TDP are different things as well)


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