London Trader's Chime in
Read an article today randomly:
http://www.nytimes.com/2008/02/06/greathomesandde…
It caught my eye on the NYtimes.com website, near the bottom. The story is about a couple who buy a 2.15 million pound townhouse in Primrose (London). The article lists the guy as a FX Options Trader, and puts his age at 30.
I'm at a loss as to how he can afford a 2.15 million pound home (4+ million USD). Are FX traders earning compensation that allows them to afford 2 million pound flats by age 30?
depends on the person obviously. In fact there's got to be FX traders in their mid 20s making tens of millions. And many others who live in $1-2k ghetto apartments.
This isn't surprising at all. I can't speak particularly for traders, but I can speak for sales. Some european equity salesguy at GS was 28 and made around £400 000 in bonus last year, that's already enough for a downpayment. You get paid more in London than in New York, because you always have to consider the cost of living; but no matter what you will get paid a lot if you are succesful in banking.
Remember, you will always be a salesman, no matter how fancy your title is. - My ex girlfriend
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