This guy made $50 million trading in England last year:

http://www.channelnewsasia.com/stori.../66814/1/.html

-Rudey

I've seen a few sources on this guy. One article quoted it at 70 mil., 20 in cash and 50 in stocks/options. Ahhh goldman sachs....

I'm pretty sure it's at 50 with the bulk being options and not cash. The guy runs the exotics desk in london pretty much and really has a lot of brains and control they say. The rest of the desk is phd level people type geniuses and this guy is the biggest one there. I hear he really gives a lot of crap to the lowers and has a lot of control over who trades so if you end up in gs exotics you end up getting a lot of crap if you're not incredible.

And it's not really normal goldman stuff - this is more prop based and I think he pretty much acts as his own hedge fund.

-Rudey
--Man I wish someone would just give me a couple hundred million to play around with.

Right.
I'm assuming we was working under a commissioned salary, how much would he have earned for GSCO to get that bonus, 4-500 mil? Would he be entitled to any other benefits, such as being named a partner? I made reference to goldman, because they seem to have a disproportionate share of these guys.

I can find that info out if you really want but generally these guys - specially the ones doing prop, tend to have low salaries. I wouldn't be surprised if he had a salary less than 150K only and then rest of it was bonus.

GS actually doesn't have that many of these superstar guys. These types tend not to stick at investment banks - even at one of the top ones like goldman. They move onto one of the more established hedge funds (as opposed to the mom and pop hedge funds that close after a year or two). At the end of the day, working for citadel or sac would provide larger paychecks I would think.

-Rudey

Naw, that's not necessary. I figured the returns were substantial because i heard this guy had a complicated system focusing on high returns.

The year just ended for analysts.

Corporate finance and M&A had a much better year than previously. HSBC have 0 bonuses the previous year - that's how bad it was. The numbers range from 15-35 for 1st years (55 base) and about 15-50 (65 base) for 2nd years. I'm really amazed by how quickly M&A picked up steam actually and wonder what they'll do next year.

Public finance products are much more stable and had a phenomenal year just now and when private sector financing projects were done, municipalities still issued bonds and notes. The lower interest rates led to more municipalities entering into complex deriviatives and swaps with variable rate functions and refunding of previous debts. Next year, supply will definitely be lower but if you're a market share firm, it won't affect you. Analysts earned from 10-30 (45-55 base) and 20-50 (65 base) from the ranges I saw.

It's actually going to get more interesting as the financings get more complex and for us in fixed income munis, the election really does present some interesting opportunities hopefully.

-Rudey
--I wish some of you would get interested in this stuff

Being an analyst sounds better than my crappy school. How would I make the switch?

Rudey, I'm interested.

Network into it for your situation, if you really are interested and not just pulling my leg. Lots of people who work in entertainment companies, pharmaceuticals, healthcare, etc. come into those respective groups at banks. It is exciting. I really don't know of a job that can compare.

Also, I don't know if I said this earlier but there are 2 analysts. All people straight out of college are called analysts. I have heard of junior or assistant analysts and I'm guessing those are not the brightest bulbs that are there simply to fill a spot but i have no idea what their role is - probably paper pushers. Anyway then there are analysts who analyze certain things. For example equity research analysts watch over companies and are on tv a lot giving their opinions on performances. That is their occupation and not their position. Technically they work for an investment bank but aren't bankers either.

Someone with an architecture background or real estate, could work within real estate groups or on the housing sides of municipals. I personally am not the biggest fan of housing but then again I'm a general banker and chose not to specialize. I mostly work along the coast, (primarily along Eastern) and somehow also get a lot of sports and stadium type deals too.

-Rudey

"And for banking and consulting you have to be able to present well and sell like none other. You're sitting with a top guy at a company, why the hell should he follow through with your recommendations? You have to show him your bank has incredible spreads that can help them."

Im interested in this profession. Im graduating in May with a Marketing Degree. Also if you arent at one of the top 20 business schools how does one enter the field? Also where can you go to gain more information?

I posted a lot of links in here about banking and also links to job websites like vault.com where I used to spend hours researching.

Truthfully, if you haven't gone to a school that is represented at it is harder to get into. But I guess it's about how badly you want it. I did consulting and banking and found that right now banking is more in tune with what I want from life.

You can ask questions and I'll try and help out.

-Rudey

Right now Im looking at these websites and seeing what types of jobs I would be qualified for in Boston or DC. Im going to live in either of these cities when I graduate. If I have any questions Ill certainly post.

I was wondering, what are the top schools for the jobs that have been discussed in this thread?

Essentially Ivy+ are targeted heavily (basically the Ivies and schools like Stanford, MIT, Chicago, and Northwestern. From state schools I would say a couple have decent shots like UVA, UT Austin, Berkeley, UMich, and UCLA but they're not really recruited that heavily.

The rest of the schools are outside of the recruitment schedules. Basically that means that the huge firms won't be at your school giving cool presentations, taking you to dinner, all that jazz before interviews.

Even within the target schools, some firms refuse to visit certain schools. My school wasn't good enough for certain firms (Blackstone didn't recruit from our undergrad class) and firms like Bain stuck heavily to New England schools.

Now what do you do if you're not in a target school? The biggest thing is to network. Meet people. Get your name out there and then you can possibly get an interview spot. Of course it is a lot harder, but it will be worth it. The other thing you can do is get your foot into the door with a small boutique or regional. Some boutiques are considered extremely prestigious (hence they recruit at only 1 or 2 schools) and are lead by incredible bankers that are very famous but most are just small shops where you won't be exposed to that many great deals, BUT you'll learn to trade and can work hard to get into a good business school and use that to get into a better firm.

-Rudey
--Good luck!