| Topic Name: |
mobility at gs |
| Message Name: |
you're contradicting yourself |
| Date Posted: |
03/15/2006 |
| In Reply To: |
Actually most strats do become traders down the line. That their career advancement.
:) no offense, but you should eating a crow by now.
Also, saying finance had a great year explains the high bonus for a strat and a lower one for ibd analyst is a little weird.
Everyone makes a lot of money after 4 years not just ibanking people. while it is true that ibanking is less riskier than trading in terma of job security,
The name goldman is golden on the resume not so much ibanking from goldman
You can confirm this from any wise person on the street.
I guess when you work with the firm yourself you would better know what i am taking about. I am pretty sure, you dont work there.
Meanwhile, good luck with your future endevors. I guess i have made my point well and people have enough info to analyze and extract the right info.
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| Message: |
i like your confidence. good luck. i like that you are loyal to goldman. goldman is a great firm. and yes, the name is very attractive. i had a very very hard time saying no last year, they gave me a very attractive offer for my experience level.
as i said earlier, i will eat the crow if and when u start managing your own p&l book in FICC/Eq. yes quant->trader is a common progression on the street, but if u have to move away from goldman to do it, that's not really lateral mobility, is it? of course if you're working closely with a good trader and he likes you a lot, that's a different story in fact that's how most quants go into trading.
WRT that, your arguments dont really make sense. on one hand you talk about how strat is a great long term career, on the other you say the career progression of a strat guy is to be a trader eventually. make up your mind.
btw, i know how it works, just want to play some semantics with you :).
OP was talking about moving from a cost center ( research ) to a revenue center. be honest here, have u seen people move like that?
you said that u were very happy with your bonus. i was just saying that last year was great for finance, 100% for first year analysts was not uncommon in most banks, the range was 50-100 for first years last year i believe, and to 130% for second years.
btw, analyst compensation is relatively similar wherever you go, that's because you're a source of cheap labor for the bank while u get experience. no harm in that, everyone has to start from the bottom.
if u made more than your peers, you're a good analyst then, more power to you.
the topic has kind of moved from mobility to defending the quant's role, i won't go into that as i myself have a high respect for the mathematicians and physicists on the street, some of the most brilliant people i've met, bar none.
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