trading desk compensation ranking
I've heard that general comp levels at trading desks vary widely by the product, i.e. cash equity is the least compensated, whereas credit derivatives has been the highest paid group at most BBs, and of course there is a range in between. Would anyone be able to put together an approximate ranking of desks by compensation? also is the compensation gap very wide (>10%) or narrow?
You really can't do this, you can see what's happened in the past but the future its just impossible. It depends entirely on how you're desk is doing throughout the year, which is a function of many things including amount of flow, ability to capture that flow, risk management, prop positions, etc, etc. And as much as this can vary by product, it can vary between firms, so its really impossible to say.
http://www.wsren.org/wallstreetsalarysurvey
It´s 2007 statistica( High wages, suprime bets), Credit Derivatives trader were paid 2011 lower than in 2007.
basically what Revsly said, waaay too many variables affecting the overall level of comp.
However, an equities MD said this to me: "to make a lot of money in equities you have to be ridiculously fucking smart, whereas to make a lot of money in FICC you just need to be fucking smart"
Derivs, is that not an equities guy patting himself on the back for how much money he has made though?
The MD sounds like a real douchebag. Why isn't he in FICC then, making tons of money?
Comeon it's a joke, have a sense of humor people!
it was said in a much more casual manner than I think it comes off as when written. The concept has a lot of truth to it though, because compensation is lower in equities compared to FICC on average.
Exchanges tighter spreads etc
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