Trillium Trading Salary
I know this is a hotly debated topic, but I'd like to ask a very specific question to see if we can nail down an answer. Also, when you post, can you please provide your source of information (e.g., first-hand experience, know a friend that works for them, etc.).
The question is: What is the base salary at Trillium Trading?
I know that total compensation can vary widely since it is highly dependent on performance, but I need to know how much I am guaranteed to make so that I can make the appropriate cuts in my lifestyle and budget accordingly to my income.
A little background:
I'm at a BB right now, with a great salary, but I am very unhappy at my current job. I am interested in trading, but due to the market dislocation last year, I got placed in a position that I don't want (in a word - marketing).
I want to move to a prop trading firm like Trillium that will give me a lot of responsibility quickly.
I know that this is very risky, and the chances that I will be a good trader are slim, but I have to give it a try. (I can't resign myself to be a paper-pusher for the rest of my life w/o giving this a shot).
Also (this is very important): I have already been accepted to a top 5 MBA program. I have the option to start MBA in one more year, or in two more years.
Basically the trade-off that I am making is 2 years of living very frugaly for a chance to be a trader. My worst case scenario is that I am not a good trader, and I go to business school. Best case scenario is... well that I am a good trader.
It's very low, friend of a friend got like $27K
Posting this isn't going to draw in any more credible responses than all the other threads about this.
So to sum them up:
Base is like 30k and bonus is usually done in three pools based on performance that differ in value based on your year/record.
I would say get the job, then ask this question to HR. Just getting the gig doesn't mean you have to accept and you may be able to use it as leverage at your Bank where the salary is probably much better.
Though I dono if prop trading at BB is something you want to get into right now.
Interested to hear more about your b-school deferral program as I am fairly certain that such an offer does not exist unless you have a serious medical issue or military requirement. You dont get into a school like H/S/W and then decide to tell admissions that you'll begin when you feel like it (i.e. Let me see if I can become a highly levered speculator for a year and if that doesnt work out then I guess ill attend your b-school).
I am going to assume you were admitted to MIT
@ junkbondswap
This is not the program I was accepted to, but just to show you that even the most respected b-schools offer this:
http://www.hbs.edu/mba/admissions/2+2/
@m.c. trader
You are probably right. I keep hearing the ~26K number, and also heard $500 / week more than once (not sure if that's before or after taxes). I'll post what I learn from HR.
I would like to go to prop trading an IB, but I don't think my chances at that are very high.
Does anyone know if they have a good training program ? I heard it 's only about a week, which is a joke. The turnover rate is very high there as well.
Base salary is 500/week pre-tax for the first year only . After that, salary is drawn against performance earnings. This is from HR.
@tradinglife
Is the bonus a certain percentage of your p&l? Are you eligible for this during your first year?
Yes the bonus is around 40% of P/L + another 8% deferred for the first year. After the first year, or hitting 100k in p/l (whichever comes first), the bonus jumps to about 50% +8% deferred. Why not send a resume and see what happens from there. You can probably ask them all the questions you want.
Thanks everyone for their comments / info. Tradinglife, I actually have an interview with them upcoming.
I will post what I find out, as I mentioned before.
To sum it all up:
It's truly a high risk (in that you never know what you'll get paid at the end of the month) / high reward (not only the p&l, which will do a novice little good at the beginning, but the opportunity to learn how to trade) opportunity.
Thanks!
Youre going to Wharton. They asked a large % of last year's admits to defer.
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