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entry level trader salary, need advices??

ivanxuyang

Joined
3/4/12
Messages
1
Points
11
Hi,Folks

I am undergraduate graduate major in Math and Econ. Long story short. I have been interviewing with a trading group based in NYC. The person who has contacted me said trading positions in their firm are not salaried, traders have the potential to earn a substantial percentage of the net profits they make.

Here comes my questions. How much would that probably be in general for an entry level trader? ( aka. no per-experience at all) .
Any information/advices would be appreciated here.

thanks
 
personally, I am suspicious of such jobs (if we can call it a job with no pay), where there is no base salary. Your working for free, whose money are you trading with? Theirs or your own?

I had a friend in the UK who went to work as a so called "trader", he had to stump up 10k of his own cash to trade with and company keep a small percentage of his profits, if any! Please if this is the case then DO NOT DO IT!!

If this trading company is saying "look thers no base pay, but here is 20k to start trading with and your get percentage of profits" then great go for it, trade like a mad man and try and grow it fast, if you do then great you can probably get a job trading anywhere with track record of profitable trades. Chances are you willl just lose their money.

my 2 cents
 
ok, to answer your question, I would say 45% if you are trading a 10k acc, 1% if you are trading a million dollar acc.

Surely they would have told you while you had been interviewing? sounds like a bad job if you have the right background to land a trading job in NYC, look for other trading positions.
 
There are many various quality levels of such trading group. Do some investigations and you'll find soon enough in which level this trading group falls. Some are not worth your attention, others can be interesting.
 
And to answer your question: Very often the "salary" ends up being close to zero if you do not belong to the few who make it. Yet can be quite high on the other hand, good 6 figures if you catch a ride.
 
I would strongly advise you not to join any such firm. Try finding firms which have a strong business and train you in their way of trading. good shops pay around 80-90k while smaller ones around 30-50k.
 
The kind of firm you're considering joining has another name - "Casinos". Avoid like the proverbial plague.
 
If it's a Casino that lets you play with the house's money, it not may be a bad deal, but you have to look into the details. I agree with Bubblegum, if you have to pay or "invest" any amount, it's best to avoid.
 
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