| Topic Name: |
sales and trading |
| Message Name: |
$$$ |
| Date Posted: |
01/21/2000 |
| In Reply To: |
I am also keen on finding out what the guy is asking below.
I can undertstand that a star prop. trader might make big $$$, but what about the average trader or salesperson?
If you actually can make more $$$ than bankers, why not go for Sales/Trading given the better work hours?
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| Message: |
In general, institutional salesman do not make what i-bankers make. An i-banker with six years of experience at a good firm can make $800,000 to more than one million. Institutional salesman with the same experience at a top firm make around $400,000. Of course, these are averages and everything depends on the person and firm.
The compensation for an i-banker will increase from the above amounts with more experience. However, institutional salesman top out at around $400,000. In other words, the upside is far greater in i-banking.
It is important to remember that you will actually have a life in sales. Depending on which office you are in, you get into the office at 7:30 a.m. NYC time for the morning call. You finish at 6:30 p.m. NYC time (4:30 on Fridays). Plus, you never work on the weekends. Of course, this time does not include the nights you are out with clients at Bulls, Cubs, and Blackhawks games(if you live in Chicago) or evenings out of town (generally a couple of days per week). Although attending these events is fun if you like your clients, it really sucks when you have to entertain some loser for an entire evening.
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