city bonus

[bigbaddom]

Hi,

As I see there are quite a few traders on these boards, I was wondering if anyone had a guideline of what 1st year traders where being paid.

I'm currently trading in a hedge fund, and wanted to know what was a reasonable amount of comp to expect.

any links, or PM's would be greatly appreciated, as I am pretty sure I am going to be asked a figure in a couple of days.

I want to be realistic, but also not be taken advantage of.

Thanks

[GT196]

how much did you make?

[Vesuvius 996]

Don't bank on anything.

Plenty of donuts* being handed out here.





Donut = zero

Edited by Vesuvius 996 on Monday 17th December 16:47

[houlbt]

GT196 said:

how much did you make?

Precisely... I mean what kind of question are you asking here. It's a function of what you do, how much you made and I mean how much did you really make/what was your contribution to that P&L etc etc.

So far as what the banks are paying - somewhat irrelevant. If you work for a fund then in theory you are top of your field and they will pay to keep you if you are making returns or have a bright future ahead of you.

PM me if you want...

[WTD]

bigbaddom said:

I'm currently trading in a hedge fund, and wanted to know what was a reasonable amount of comp to expect.

as an execution guy, or do you run your own book?

[bigbaddom]

execution only... unfortunately

[Vesuvius 996]

Depends hwo much you make for the company.

Could be 10m or could be 10p.


Need more information.


Which shop you at? Most have declared and paid now.

[bigbaddom]

well as i said it is exectution only it is quite difficult to tell you how much I made..

But I am good enough to be their only trader, and the bosses travel the whole time and just send orders through.

maybe if there is a way to quantify the contribution of an exec trader then I could answer your question.

[clubsport]

Execution bonus is hard to quantify, no one quite realises the value of potential slippage to adequately compensate....to be honest your bonus is effectively staying on and getting the chance to work your way closer to a revenue generating seat...good luck!

[bigbaddom]

Hey Tearz,

I guess that is a fair enough point really, not alot I can say to defend it apart from

a) my post count is hardly stratospheric, so I cant be that bored

b) it was the 2nd of jan and I was awake enough to tell you that volume was about 50% of normal so not really a proper trading day.

c) as I said I am exec only. no orders no trading. Yeah sure I pay attention, but tv is on and 4 screens are on

thats about it really but very valid point.

[Olf]

Tearz said:

bigbaddom said:

Hi,

As I see there are quite a few traders on these boards, I was wondering if anyone had a guideline of what 1st year traders where being paid.

I'm currently trading in a hedge fund, and wanted to know what was a reasonable amount of comp to expect.

any links, or PM's would be greatly appreciated, as I am pretty sure I am going to be asked a figure in a couple of days.

I want to be realistic, but also not be taken advantage of.

Thanks

See this thread you posted a while ago..... http://pistonheads.co.uk/gassing/topic.asp?h=0&amp...

Bored at work? Don't you work hard to acheive your goal to get the fat bonus?

Don't you deserve the bonus???

What a tossy thing to post. Have you ever worked on the 2nd of January? The business environment busy on that day is the shop floor at Next and BHS. If you're working in a professional environment on the 2nd of Jan it'll almost definitely be dead... very dead.

[NewNameNeeded]

don't execution-only guys get commission on each trade? Just asking as no idea how compensation works in that kind of role.

As for a trading desk: Bonus = (PnL - costs) * percentage

And the percentage number can be pretty variable, plus other factors in the business will shrink or grow the bonus pot (such as the recent sub prime mess).

But this is all speaking from a bank, not hedge fund, perspective.

I'd also suggest that, again from a banking perspective, you've only really "made it" when your bonus is > 100% of your basic salary. I know of plenty of junior trading roles where the bonus seems capped at 0-50% of basic. Although at least all that can be paid as cash, not deferred shares.

[bigbaddom]

Olf, thankyou for the support, I thought the same but decided that I would answer in a civilized manner.

Topman!

[stimmers]

Tearz said:

bigbaddom said:

Hi,

As I see there are quite a few traders on these boards, I was wondering if anyone had a guideline of what 1st year traders where being paid.

I'm currently trading in a hedge fund, and wanted to know what was a reasonable amount of comp to expect.

any links, or PM's would be greatly appreciated, as I am pretty sure I am going to be asked a figure in a couple of days.

I want to be realistic, but also not be taken advantage of.

Thanks

See this thread you posted a while ago..... http://pistonheads.co.uk/gassing/topic.asp?h=0&amp...

Bored at work? Don't you work hard to acheive your goal to get the fat bonus?

Don't you deserve the bonus???

I agree, what seriously pathetic post the above is

Edited by stimmers on Sunday 20th January 12:57

[matrignano]

Actually, something I was wondering...what type of role can get you more bonus?

Sales, Trading, IBD/DCM, M&A, Portfolio Mgt etc?

[WTD]

on a different note Dom, do you ever have interest in JPY or USD interest rate options? If so, drop me an email through my profile!

[bigbaddom]

Thanks WTD unfortunatly not, but thanks for the offer.

I only trade pure equity.