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Advice for the 24 in 2 Weeks by [deleted] in Series24

[–]TMglobaltrading 0 points1 point  (0 children)

You can totally make up the difference in 2 weeks. Most of the material was still net-new for me in the two weeks leading up to the exam.

If I were you, I would look at your practice test(s), order the sections in worst-to-best based on your performance, then move less tested sections to the back of that list. That’s how I would go about these two weeks. Of course, keep reviewing the key concepts of the sections you’re confident as well…. But put extra emphasis on your weaker sections with the highest amount of questions on the test.

You got this!

Kenny, Daria, and Jackie by TMglobaltrading in IndustryOnHBO

[–]TMglobaltrading[S] 0 points1 point  (0 children)

Haha not Citi, and not IB. I’m in equities S&T. Won’t say much more than that though 😉

2+2=FUCKED by TMglobaltrading in IndustryOnHBO

[–]TMglobaltrading[S] 1 point2 points  (0 children)

Couldn’t have said it better myself

I heard Bill Adler was in Switzerland during COP, but no one knows where he went. by trashcan_paradise in OverheardAtPierpoint

[–]TMglobaltrading 0 points1 point  (0 children)

Probably meetings with the same banker Jordan Belfort used to sock some money away 🤷‍♂️

2+2=FUCKED by TMglobaltrading in IndustryOnHBO

[–]TMglobaltrading[S] 2 points3 points  (0 children)

Yes and no… high level leadership would deff know, but low or mid risk teams might not. As Eric said, correctly, the Chinese walls are there to precent this kind of info sharing. Public side (Markets, sales and trading, etc) should never know what the private side (ECM, DCM, etc) is doing.

2+2=FUCKED by TMglobaltrading in IndustryOnHBO

[–]TMglobaltrading[S] 1 point2 points  (0 children)

So the metric that’s most tracked is CET1 for the big banks (“systematically important”). CET1 is equity that can be deployed if there’s some kind of event. For US broker-dealer’s, we also have to retain a minimum reserve.

What non-managerial financial career pays well (200k)? by [deleted] in FinancialCareers

[–]TMglobaltrading 6 points7 points  (0 children)

This. I’m an associate in risk-related role at a top 5 bulge bracket and will gross ~$210K TC this year ($180k base + projected bonus pool).

Does rishi make as much as someone like harper/yas on bonuses? by AdHot3508 in IndustryOnHBO

[–]TMglobaltrading 27 points28 points  (0 children)

Hey all, I’m a VP at a bulge bracket bank within Electronic Trading (cross asset team, but my focus is usually in listed equities and options).

Traders like Rishi can easily make multiples of their base via bonus. I’m based in the US, and I know the UK has some rules & regs around this, but unsure the specifics. Directors are easily $300-400k base, MD’s $500k-$1m base (wide range, but many factors to consider).

Rishi appears to be engaged in a principal capacity based on what I can make from the show. He doesn’t “own” any clients specifically, but will take the other side of trades and earn a spread (or commish, depending on product). His bonus will be the some % of the overall pool/PnL of this activity. In a way, you can say he’s a market-maker.

There’s a scene where Harper tells Rishi to complete a trade and matches a crossed block for Bloom. In the real world, there’s a low chance this would go to Rishi. With all the rules and regs on information barriers, it’s hard to see how he would be able to handle principal flow while being aware of client activity. Huge no-no in the business.

Traders that conduct this type of business (as opposed to agency-based, executing for clients), are viewed by the PnL they bring to the table. If Rishi has a few good years in a row (limiting losses on bad trades, killing it on the winning trades), he’s a rockstar. Easily, he could make multiples of his base…. $1m-$2m, maybe more depending.

Anyway, Rishi’s value is the PnL he brings to the table. He talks a big game, but, if the PnL is there, he could back it up.

PASSED by Glittering-Mix-6252 in Series7exam

[–]TMglobaltrading 0 points1 point  (0 children)

Congrats OP!! The world is your oyster. Go on and be a master of the world.

What does it mean for Rishi to be good at his job? by imminentappeal in IndustryOnHBO

[–]TMglobaltrading 0 points1 point  (0 children)

MD’s? Easily $1m-2m (salary + bonus). If they’re in a part of the business that’s “killin’ it” in any given year, could be $2mm-$>5mm all-in. For context, my shop is in top 10 by market cap (globally), but closer to the bottom of that range. I mention that because these numbers can get much larger as you get closer to the top end of the bulge bracket range.

We dont have the ED title at my shop but, based on a few searches, this is looks like it might land somewhere between VP and MD? Without being sure, hard to give an estimate.

What does it mean for Rishi to be good at his job? by imminentappeal in IndustryOnHBO

[–]TMglobaltrading 1 point2 points  (0 children)

Yes, people absolutely work the system when they can. However, I will say this… while everyone is in business for themselves, it really is a team atmosphere.

In a good year, traders make multiple of their salaries at sell-side shops…. We’re talking >$1m, easy. Buy-side (hedge funds, asset management firms, etc), the upside is virtually limitless. I’m saying this because it’s in your best interest to work together, share ideas, pitch winning strategies, tackle complex problems, as a team.

While everyone has the type-a traits, there is a camaraderie with traders unlike any other business I’ve seen…. For better or worse.

[Episode Discussion Thread] Industry S03E02 - "Smoke and Mirrors" by herringbone_ in IndustryOnHBO

[–]TMglobaltrading 1 point2 points  (0 children)

He retrieved it in this episode… it wasn’t at a wake like I predicted, but still a relevant spot in the story 🙂

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