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Do Investment Bankers make a lot of money compared to traders

  • #21
  • Aug 3, 2010 2:57pm Aug 3, 2010 2:57pm
I don't know where this guy came up with 4 mil. but i can tell you that Clintons got the money from kosovo albanians-narko dealers and they are receiving it now also, until they finish their separation process.
Funny thing,it is called LOBBING, in normal world it is corruption and illegal.
  • #22
  • Aug 3, 2010 3:55pm Aug 3, 2010 3:55pm
Quoting Leonlorenzo
Originally Posted by fugly http://cdn.forexfactory.com/images/buttons/viewpost.gif
tell me mfoste1, what are there qualifications like?

Most have achieved top grades all the way through their schooling, they are also in most part privately educated. They then go on to take quantitative degrees at top universities and get on to sought after internships.

The degree's they get in to the field with? Physics, Engineering, Maths, Finance, Economics......
thx for the reply, so for guys without an ivy league/lse degree its a difficult profession to get into I suppose. Probably privileged for the upper classes?

This ivy-league really does seem to tilt the balance in life. They seem to have occupied most of the top jobs and top positions in most of the top organisations.

Well anyway thx for the info leon.
  • #23
  • Aug 3, 2010 4:47pm Aug 3, 2010 4:47pm
Quoting fugly
thx for the reply, so for guys without an ivy league/lse degree its a difficult profession to get into I suppose. Probably privileged for the upper classes?

This ivy-league really does seem to tilt the balance in life. They seem to have occupied most of the top jobs and top positions in most of the top organisations.

Well anyway thx for the info leon.
most of the guys that get in are from ivy league and they are the best from ivy leagues........so they were top students from the top and then some. If youre not from ivy, you better have a good network. Im trying to get a spot in s&t right now on an fx desk at an institution, and I can tell you that being from a non-target, it is extremely difficult......The only things I have going for me right now are my skills and my network, because if you are from a non-target (like me), no matter how good your grades are even if you have a 4.0 gpa it doesnt mean much when competing against target kids. Youre basically an idiot to them, no matter how intelligent you may actually be. Its depressing.
  • #24
  • Aug 3, 2010 5:00pm Aug 3, 2010 5:00pm
Quoting fugly
thx for the reply, so for guys without an ivy league/lse degree its a difficult profession to get into I suppose. Probably privileged for the upper classes?

This ivy-league really does seem to tilt the balance in life. They seem to have occupied most of the top jobs and top positions in most of the top organisations.

Well anyway thx for the info leon.
I'd say those who get there are mostly upper class, but only because they are the ones who are best prepared. If a working class person had enough emphasis placed on education throughout their younger years, had (somehow) developed confidence in professional settings, and had correct career guidance, then they could get there too. The question is... how can one be brought up to be the type of person that they have never met? Social mobility (the upward kind) is a difficult thing to achieve and anyone who tries to move up from the class they were born and initially socialised in to has some catching up to do.
Living the adventure in my head.
  • #25
  • Aug 3, 2010 5:21pm Aug 3, 2010 5:21pm
Can't say I really understand the education system in the US but I think there are some exceptions of people who 'made it', how about Mack the Knife ex-CEO of Morgan Stanley? Son of immigrants, no silver spoon, he just worked his way up the ranks.

Maybe it's more competitive nowadays and a 'closed shop' where education background and paper qualifications count for more than practical experience, hard work, and street savvy?
  • #26
  • Aug 3, 2010 5:50pm Aug 3, 2010 5:50pm
I can see mfoste1, leonlorenzo and pipmutt interviewing the candidates right now - god help em !
  • #27
  • Edited 6:03pm Aug 3, 2010 5:51pm | Edited 6:03pm
Quoting pipmutt
Can't say I really understand the education system in the US but I think there are some exceptions of people who 'made it', how about Mack the Knife ex-CEO of Morgan Stanley? Son of immigrants, no silver spoon, he just worked his way up the ranks.

Maybe it's more competitive nowadays and a 'closed shop' where education background and paper qualifications count for more than practical experience, hard work, and street savvy?
A growing population doesn't require a proportional increase in the number or size of institutions. Assuming that the ratio to each class is roughly the same as it used to be, it stands to reason that these institutions have a larger choice of highly educated employees, and therefore don't need to look at those without a conventional background.

Just an idea.

Edit: Globalization... Highly paid labour is more mobile than it used to be. Not uncommon for those with a relevant degree from a top UK university to fly over to the good old US of A for an internship and vise versa. It's probably happening for top students from top universities all over the world, not only in the west. No settling for second best now... the big companies don't need to settle for anyone but the best.
Living the adventure in my head.
  • #28
  • Aug 3, 2010 6:02pm Aug 3, 2010 6:02pm
Quoting pipmutt
Can't say I really understand the education system in the US but I think there are some exceptions of people who 'made it', how about Mack the Knife ex-CEO of Morgan Stanley? Son of immigrants, no silver spoon, he just worked his way up the ranks.

Maybe it's more competitive nowadays and a 'closed shop' where education background and paper qualifications count for more than practical experience, hard work, and street savvy?


hopefully ill be in that category
  • #29
  • Aug 3, 2010 6:04pm Aug 3, 2010 6:04pm
Quoting Leonlorenzo
A growing population doesn't require a proportional increase in the number or size of institutions. Assuming that the ratio to each class is roughly the same as it used to be, it stands to reason that these institutions have a larger choice of highly educated employees, and therefore don't need to look at those without a conventional background.

Just an idea.
Makes sense, I guess employers are spoilt for choice, why consider anyone but the best of the best.....

edit: ha, as I was typing you were editing, we agree!
  • #30
  • Aug 3, 2010 6:06pm Aug 3, 2010 6:06pm
Quoting cohiba pips
I can see mfoste1, leonlorenzo and pipmutt interviewing the candidates right now - god help em !
lol

Me, I'd give the underdog the job just for the hell of it!

(Bribery would probably also play a part)
  • #31
  • Aug 3, 2010 6:08pm Aug 3, 2010 6:08pm
Quoting mfoste1
hopefully ill be in that category
I hope you are, you can remember us little guys and come back with some 'inside info'

Seriously though good luck, the sky's the limit, aim high!
  • #32
  • Aug 3, 2010 6:18pm Aug 3, 2010 6:18pm
Quoting pipmutt
lol

Me, I'd give the underdog the job just for the hell of it!
If I could tell that 'the underdog' was just as capable in every way as the one who had attended the top university then I'd take him on too. But could he ever be as good for the business? For starters, he wouldn't have a social network as affluent as the one who attended the top uni; Someone said "it's not what you know it's who you know". This one consideration would put me off the candidate unless I knew he was equally well connected, which isn't likely.
I read once that "Bosses employ and promote people who are like themselves"... that means that if an institution is made up of LSE grads, it will continue to be.

You have two children, a boy and a girl, all being equal between the two if you could pass your business on to only one of them which one would it be? It's probably the boy, because he is more like you.
Living the adventure in my head.
  • #33
  • Aug 3, 2010 6:25pm Aug 3, 2010 6:25pm
Quoting Leonlorenzo
If I could tell that 'the underdog' was just as capable in every way as the one who had attended the top university then I'd take him on too. But could he ever be as good for the business? For starters, he wouldn't have a social network as affluent as the one who attended the top uni; Someone said "it's not what you know it's who you know". This one consideration would put me off the candidate unless I knew he was equally well connected, which isn't likely.
I read once that "Bosses employ and promote people who are like themselves"... that...
Yep, and that's probably why I'd never be any good at recruitment, I'm a sucker for warm and fuzzy over cold and calculated when it comes to people!

But you know for all these Ivy League geniuses (genii??) we still ended up in a big mess, it makes you wonder if the lesser mortals could have done much worse!
  • #34
  • Aug 3, 2010 6:39pm Aug 3, 2010 6:39pm
Quoting pipmutt
But you know for all these Ivy League geniuses we still ended up in a big mess, it makes you wonder if the lesser mortals could have done much worse!
Society is still intact and someone has made money from the losses people have experienced. What is a mess to one man is an opportunity for another.
Living the adventure in my head.
  • #35
  • Aug 3, 2010 6:46pm Aug 3, 2010 6:46pm
Quoting Leonlorenzo
Society is still intact and someone has made money from the losses people have experienced. What is a mess to one man is an opportunity for another.
The people who could least afford it got screwed....again. There's something fundamentally wrong with that scenario but as the wealthy make the rules in order to get wealthier I doubt it will ever change.

Joe Average is getting just a little pissed though, we saw it at the G20 riots in London, it kinda reminded me of the Thatcher Poll Tax riots of the 90's.....

I'm no socialist but the divide is getting way out of control in my opinion, and what makes it worse is it's so blatant!
  • #36
  • Aug 3, 2010 10:15pm Aug 3, 2010 10:15pm
Quoting pipmutt
But you know for all these Ivy League geniuses (genii??) we still ended up in a big mess, it makes you wonder if the lesser mortals could have done much worse!
They're not as smart as they like to think, and those that are would have only seen opportunity in the GFC.

Quoting Pipmutt
Joe Average is getting just a little pissed though
Understandable. We're taught since childhood to believe in freedom, democracy and equality, where there was none. Those beliefs are tested in times like these. The reality doesn't actually matter, what matters is how it is perceived.
  • #37
  • Aug 4, 2010 1:14am Aug 4, 2010 1:14am
Successful trading is 'undoubtedly' highest paid profession in world. With experience, growing capital and additional leverage, curve grows in gigantic shape.

IBs are 'salary class' intellectual people who work quite hard (+ 90-100 hrs a week) and make few million dollars.
  • #38
  • Aug 4, 2010 2:56am Aug 4, 2010 2:56am
Quoting fugly
to get 10mil under management you have to be an exceptionally good trader. you have to be among the top of that 5% that are successful.
i don't think so....

The Currency Kid: living at home and accused of losing $6m on markets

August 4, 2010 - 2:33PM
A 25-year-old currency trader who lives with his parents on Sydney's north shore has been charged with fraud after allegedly losing $5.9 million worth of his clients' savings.
Police will allege the Seaforth man told them he was making them significant amounts of money over a five-year period, while he actually lost the lot.
Catching a falling knife, no, I'm just trading the Gartley!
  • #39
  • Aug 4, 2010 3:40am Aug 4, 2010 3:40am
Quoting ChinaWombat
i don't think so....

[b]The Currency Kid: living at home and accused of losing $6m on markets...
Ooops, lol.

I blame the investors as much as the trader, some people buy into the whole HYIP thing and then act surprised when it all goes belly up!

Any link to the whole story?
  • #40
  • Aug 4, 2010 3:44am Aug 4, 2010 3:44am
Quoting Mr J
They're not as smart as they like to think, and those that are would have only seen opportunity in the GFC.
Before, during, and after it I imagine. I think what annoys people the most is they all get to keep their ill-gotten gains, they created a crisis in order to make money and they got to keep the spoils. I dunno, never mind the morality of it, should it even be legal?


Quoting Mr J
The reality doesn't actually matter, what matters is how it is perceived.
Totally agree, and it doesn't help their cause when people like Fuld come on TV!
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