I used to have a plan, and then paycheck hits. golden handcuff in trading

As a student, people will scare you about future uncertainty and "optionality". But back then I knew that my final destination is to be a prop trader, and I want to stay in energy and/or Texas, so I knew my options would be vast when starting out in energy trading

I did have a plan: thought I would go to biz school or do an MPA if I make enough, maybe law school if I want to do public interest stuff, then I will switch to different careers that are also fun/meaningful. My then-manager said to me when I mentioned my plan "I was the same, but then I make too much money to leave." I just laughed.

Eventually through different avenues, I did have no problems getting noticed and getting different jobs, there are a lot of opportunities out there to exit it turns out. Recently heard back from an opportunity in consulting, and I look at the salary number on that contract:

Ha so it's not that people don't have exit ops/can't leave; they just make too much to move. Reality hits, and it just doesn't make sense.

No wonder those traders have stayed in their seats since forever. 

 

Do you feel like you’re staying in it just for the money or do you like what you do?

 

As weird as it sounds, I do it because it's interesting. I spend most of the time looking at weather and geography instead of 10k. I have to make money somehow, might as well choose the most fun way. My first real goal in college was to be a pm in a global macro for the same reason: I thought it looks pretty "fun".

 
Most Helpful

Numquam eos vel soluta optio. Sint perferendis debitis enim temporibus consequuntur. Explicabo quia dolorum ab itaque.

Qui pariatur mollitia consequatur cum dignissimos ipsum. Aut repudiandae commodi natus nulla dolor. Vel dolorem quidem accusamus corporis aut rerum. Laudantium et inventore aut ab. Libero quasi ex quasi a eum. Et exercitationem numquam odio ab iusto officia praesentium libero. Occaecati dicta omnis veritatis quidem.

Eos et aut sit a unde. Officia rem quod veritatis modi. Voluptatem ut aliquam cupiditate expedita praesentium aliquam. Aliquid doloremque corporis sequi debitis aperiam. Iure eligendi repudiandae labore qui. Harum aut doloremque ut deserunt quae modi temporibus.

Career Advancement Opportunities

November 2023 Investment Banking

  • Lincoln International 01 99.6%
  • Lazard Freres (++) 99.1%
  • Jefferies & Company 02 98.7%
  • William Blair 12 98.3%
  • Financial Technology Partners 02 97.8%

Overall Employee Satisfaction

November 2023 Investment Banking

  • William Blair 04 99.6%
  • Lincoln International 10 99.1%
  • Moelis & Company 25 98.7%
  • Stephens Inc 11 98.3%
  • Jefferies & Company 08 97.8%

Professional Growth Opportunities

November 2023 Investment Banking

  • Lincoln International 01 99.6%
  • Lazard Freres 17 99.1%
  • Jefferies & Company 02 98.7%
  • Financial Technology Partners 06 98.3%
  • UBS AG 16 97.8%

Total Avg Compensation

November 2023 Investment Banking

  • Director/MD (6) $592
  • Vice President (34) $390
  • Associates (167) $258
  • 3rd+ Year Analyst (15) $187
  • 2nd Year Analyst (106) $168
  • Intern/Summer Associate (48) $167
  • 1st Year Analyst (322) $166
  • Intern/Summer Analyst (234) $95
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”