real-time trading / hourly trader salary
i was pretty surprised to see that entry level real-time trading jobs annual compensation is only around $40-45k. does anyone else think that this is really low?
also, how long does it typically take for a real-time trader to become day-ahead trader?
if you're a prop trader you start at around 60-70k
If you make money. Most prop shops I've spoken to give salaries of around 30k and anything above that is a percentage of your PnL.
First years at top prop shops get more than those at BB. I heard SIG increased to 100K, JSC is 100K, IMC, DRW, Optiver are all paying over 80K.
You sure about that? I'm pretty sure DRW has a base of 70 (at least for its Chicago office). Don't know about IMC, the other numbers look right.
Bump. Does anyone else have more info specific to real time trading?
Real Time traders are essentially babysitters making sure the day ahead positions don't get blown out in the RTM, but do have the opportunity to optimize position by the swings... it takes a really good RT guy to make good money for his desk and in return he gets a raise, bonus, etc. Just like gas schedulers, for every true trading spot on the desk, there are a hundred RT Traders (many with 5+ years of exp.) chomping at the bit. Last I heard entry level RT traders at the banks were getting 55-60 and not many true "spec" shops screw around in the RTM... get into risk (may not be as sexy as BSD* trading) but you'll learn 100x's more about how money flows and is made/lost 100x's faster, and you can use those skills to build a better trading desk/strategy for yourself.
*ask some of the other contributors what it stands for
Every "top" Chicago prop pays 60K+. Getting those jobs is not easy though. Just as competitive as any BB job.
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