I used to have a plan, and then paycheck hits. golden handcuff in trading
As a student, people will scare you about future uncertainty and "optionality". But back then I knew that my final destination is to be a prop trader, and I want to stay in energy and/or Texas, so I knew my options would be vast when starting out in energy trading.
I did have a plan: thought I would go to biz school or do an MPA if I make enough, maybe law school if I want to do public interest stuff, then I will switch to different careers that are also fun/meaningful. My then-manager said to me when I mentioned my plan "I was the same, but then I make too much money to leave." I just laughed.
Eventually through different avenues, I did have no problems getting noticed and getting different jobs, there are a lot of opportunities out there to exit it turns out. Recently heard back from an opportunity in consulting, and I look at the salary number on that contract:
Ha so it's not that people don't have exit ops/can't leave; they just make too much to move. Reality hits, and it just doesn't make sense.
No wonder those traders have stayed in their seats since forever.
How much is too much?
Im more junior-er so half a Mil. the more senior ones got 7-8 figures in the past so ig understandably hard to give up.
Do you feel like you’re staying in it just for the money or do you like what you do?
As weird as it sounds, I do it because it's interesting. I spend most of the time looking at weather and geography instead of 10k. I have to make money somehow, might as well choose the most fun way. My first real goal in college was to be a pm in a global macro for the same reason: I thought it looks pretty "fun".
Are you VP level?
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