How to become a superstar in finance nowadays and what does it take to make to $100 million?
In reference to this article: https://www.forbes.com/sites/nathanvardi/2017/02/…
There is an article about a fellow in the 30's named James Levin who graduated from Harvard and works at Och-Ziff. He was recently given $250 million (couple years ago he was given $119m compensation package) even though OZM going through difficult times because the firm apparently doesn't want him to leave. Obviously, this guy is an outlier in finance but I'm curious what does it take for someone to become an extraordinary. Levin made a bet on structured credit that netted OZM $2 billion back when he was 29. He was apparently recruited back when he was teaching skiing to OZM founder's son.
Before 2008 (and esp. in the 70s-90s), firms like Drexel, Enron, and Gruntal offered a lot of opportunity for young guys to make their names on Wall Street by making a lot of money for their firms (usually through prop. trading). Those were the good days when star traders and bankers racked up million dollar salaries in their 20s. Even Goldman and other BB's used to give employees greater autonomy to bring in the dough. Top traders racked in a lot of money. Now it seems, these types of opportunities are not available anymore (w/exceptions like the Levin guy). I assume regulations post-2008 played a large role.
My questions are: Is it still possible to mimick what James Levin did and rack up millions like Wall Street dogs did back in Drexel days? How do you become a rockstar earner for your firm at such a young age (ie. how does one gain so much decision-making power, responsibility, and money at one's helm nowadays)?
Are there still opportunities to become a superstar on Wall Street and if so, how?
PS: I'm a hs student so don't take any assertions too seriously
Success is for the most part a combination of hard work , luck and intuition. You can't do anything about luck, so work hard and be on the lookout for good opportunities and you might get lucky.
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