Salary - Average pay of a trader
Does anyone know what the average pay of a trader is for the first 5 years? (base + bonus) (and assuming one is good enough to keep the job for >= 5 years)
My impression is 100,150,200,250,300K with the ith number corresponding to the ith year. But more experienced people, please correct me.
Also, what products correlate to higher/lower salaries? i.e. options, fixed income, etc...
A trader where? At a bank? A hedge fund? A prop shop? An asset manager?
All?
You're basically talking about a poisson distribution. I'm sure there are a few traders who live under a bridge, log on to their $500 brokerage account at internet cafes, and make $16.47/year. There are others who are multi-millionaires their first year on the job (Chicago prop shops). Most fall somewhere in between.
"You're basically talking about a poisson distribution."
my stats teacher back in the day referred to poisson as the "probability of imminent death". could be pretty apt actually for traders.
100k your first year is definitely not realistic. I think most prop shops in Chicago or New York start with a salary around 50k. And even then you aren't a trader for about 2 years. If you manage to land a job for a BB in S&T you might be able to make 100k via a 70k salary with a 30k first year bonus.
your numbers are pretty high...
i would say something like this
year 1 45-75 year 2 55-85 year 3 65-85 year4 70-100 year 5 80 - 120
keep in mind most of your comp will come in a bonus
Yeap for the first couple of years an assistant trader is not usually allowed to have a book with multimillion dollars. And if you don't have a book you can't make a multimillion bonus either.
It really, really, depends. At firms like Rosenthal-Collins and Jump Trading in Chicago, first-year traders can get multi-million dollar books. It's not incredibly common, but I've definitely heard of it.
at a bank, those numbers seem pretty reasonable. and then depending on the year, you could be flat, down, or exponentially up
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