SERVING THE QUANTITATIVE FINANCE COMMUNITY

tu160
Posts: 363
Joined: October 23rd, 2007, 1:14 pm

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QuoteOriginally posted by: capafan2QuoteOriginally posted by: ShaikIs model validation analogous to 'testing' in software companies? People in 'testing' in IT get the least respect in the company and continuously have to prove the reason for their existence.These days the title "Tester" has been re-branded to "Business Analyst". Apparently it is more respectable in a lot of places to be a Business Analyst than a Programmer. So go figure.I imagine how testing team has to prove the right to exist at Google or Microsoft

ThinkDifferent
Posts: 659
Joined: March 14th, 2007, 1:09 pm

QuoteOriginally posted by: capafan2Quote:-) -- I have a friend who is a trader and VP for years. I bet he is not even close. Of-course he never tells me always implying that he makes a lot. But one thing a small town guy like me can do easily is adding several pieces of information to produce a comprehensive picture of how much someone makes. And I put his figure at $250K and I suspect I am over-rating.show this to your trader friendhttp://news.dealbreaker.efinancialcareers.com/newsandviews_item/wpNewsItemId-138695 but first make sure that windows (not MS Windows...) are closed and there are no sharp objects around." Ranking banking pay for vice presidents in London 1. JPMorgan: £359k (13 entries)2. Morgan Stanley: £260k (11 entries)3. Deutsche Bank: £252k (13 entries)4. Bank of America Merrill Lynch: £238k (7 entries)5. Barclays Investment Bank: £232k (20 entries)6. SocGen: £230k (8 entries)7. Credit Suisse: £225k (9 entries)8. UBS: £216k (13 entries)9. HSBC: £154k (14 entries)10. RBS: £136k (12 entries) " DevonFangs Posts: 3004 Joined: November 9th, 2009, 1:49 pm quant jobs with the least hours QuoteOriginally posted by: ThinkDifferentQuoteOriginally posted by: capafan2Quote:-) -- I have a friend who is a trader and VP for years. I bet he is not even close. Of-course he never tells me always implying that he makes a lot. But one thing a small town guy like me can do easily is adding several pieces of information to produce a comprehensive picture of how much someone makes. And I put his figure at$250K and I suspect I am over-rating.show this to your trader friendhttp://news.dealbreaker.efinancialcareers.com/newsandviews_item/wpNewsItemId-138695 but first make sure that windows (not MS Windows...) are closed and there are no sharp objects around." Ranking banking pay for vice presidents in London 1. JPMorgan: £359k (13 entries)2. Morgan Stanley: £260k (11 entries)3. Deutsche Bank: £252k (13 entries)4. Bank of America Merrill Lynch: £238k (7 entries)5. Barclays Investment Bank: £232k (20 entries)6. SocGen: £230k (8 entries)7. Credit Suisse: £225k (9 entries)8. UBS: £216k (13 entries)9. HSBC: £154k (14 entries)10. RBS: £136k (12 entries) "I think these numbers are either BS or there is a gigantic selection bias.

bluetrin
Posts: 292
Joined: September 9th, 2005, 6:41 am

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QuoteOriginally posted by: DevonFangsI think these numbers are either BS or there is a gigantic selection bias.I suspect that these figures have been obtained by a poll and are supposed to represent total comp. Without the breakdown base+bonus vs total comp and more information per department/activity, you cannot say much about these figures as the sample seems quite small.

DevonFangs
Posts: 3004
Joined: November 9th, 2009, 1:49 pm

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QuoteOriginally posted by: bluetrinQuoteOriginally posted by: DevonFangsI think these numbers are either BS or there is a gigantic selection bias.I suspect that these figures have been obtained by a poll and are supposed to represent total comp. Without the breakdown base+bonus vs total comp and more information per department/activity, you cannot say much about these figures as the sample seems quite small.These numbers are also highly inconsistent with glassdoor.

ashkar
Posts: 274
Joined: October 17th, 2011, 9:25 am

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£250K total comp sounds right for mid level VPs based on recent pub discussions and general 30% off figures from 3 years ago.

DevonFangs
Posts: 3004
Joined: November 9th, 2009, 1:49 pm

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QuoteOriginally posted by: ashkar£250K total comp sounds right for mid level VPs based on recent pub discussions and general 30% off figures from 3 years ago.FO?

ashkar
Posts: 274
Joined: October 17th, 2011, 9:25 am

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QuoteOriginally posted by: DevonFangsQuoteOriginally posted by: ashkar£250K total comp sounds right for mid level VPs based on recent pub discussions and general 30% off figures from 3 years ago.FO?yeah, forgot to add Trading. 3 years ago 2 flow traders on the same desk independently said about £250 total comp. They had 4-5 yrs experience so around senior associate level. With a bit of extrapolating in terms of experience and discounting around 30% in comp since then...£250K sounds right for mid level VP. Also have two structurers (again senior associate level) who claim to have made £180-£200 last year. This is in addition to the independent pub talk with a couple of VPs recently.
Last edited by ashkar on April 22nd, 2013, 10:00 pm, edited 1 time in total.

DevonFangs
Posts: 3004
Joined: November 9th, 2009, 1:49 pm

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QuoteOriginally posted by: ashkarQuoteOriginally posted by: DevonFangsQuoteOriginally posted by: ashkar£250K total comp sounds right for mid level VPs based on recent pub discussions and general 30% off figures from 3 years ago.FO?yeah, forgot to add Trading. 3 years ago 2 flow traders on the same desk independently said about £250 total comp. They had 4-5 yrs experience so around senior associate level. With a bit of extrapolating in terms of experience and discounting around 30% in comp since then...£250K sounds right for mid level VP. Also have two structurers (again senior associate level) who claim to have made £180-£200 last year. This is in addition to the independent pub talk with a couple of VPs recently.Right, and this is meant to be the high end of the spectrum, so I don't see how the average across all function in, say, JPMorgan could be twice as much.

ashkar
Posts: 274
Joined: October 17th, 2011, 9:25 am

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jpm figure is definitely suspicious. Its way off what my view is of the current market levels and also I dont expect such a big difference between jpm and ms even with all the troubles. Its actually close to a director running a desk of 5-6 traders.

bluetrin
Posts: 292
Joined: September 9th, 2005, 6:41 am

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QuoteOriginally posted by: ashkarjpm figure is definitely suspicious. Its way off what my view is of the current market levels and also I dont expect such a big difference between jpm and ms even with all the troubles. Its actually close to a director running a desk of 5-6 traders.When you look at it, it almost look like a fat finger on the first digit

slacker
Posts: 114
Joined: January 14th, 2006, 12:21 am

QuoteOriginally posted by: DevonFangsQuoteOriginally posted by: ashkarQuoteOriginally posted by: DevonFangsQuoteOriginally posted by: ashkar£250K total comp sounds right for mid level VPs based on recent pub discussions and general 30% off figures from 3 years ago.FO?yeah, forgot to add Trading. 3 years ago 2 flow traders on the same desk independently said about £250 total comp. They had 4-5 yrs experience so around senior associate level. With a bit of extrapolating in terms of experience and discounting around 30% in comp since then...£250K sounds right for mid level VP. Also have two structurers (again senior associate level) who claim to have made £180-£200 last year. This is in addition to the independent pub talk with a couple of VPs recently.Right, and this is meant to be the high end of the spectrum, so I don't see how the average across all function in, say, JPMorgan could be twice as much.So $375 all in for a top tier VP in IB trading with about 7-8 years exp. Sounds right to me.would be quite interested in the base+bonus breakout of the survey DevonFangs Posts: 3004 Joined: November 9th, 2009, 1:49 pm quant jobs with the least hours QuoteOriginally posted by: slackerQuoteOriginally posted by: DevonFangsQuoteOriginally posted by: ashkarQuoteOriginally posted by: DevonFangsQuoteOriginally posted by: ashkar£250K total comp sounds right for mid level VPs based on recent pub discussions and general 30% off figures from 3 years ago.FO?yeah, forgot to add Trading. 3 years ago 2 flow traders on the same desk independently said about £250 total comp. They had 4-5 yrs experience so around senior associate level. With a bit of extrapolating in terms of experience and discounting around 30% in comp since then...£250K sounds right for mid level VP. Also have two structurers (again senior associate level) who claim to have made £180-£200 last year. This is in addition to the independent pub talk with a couple of VPs recently.Right, and this is meant to be the high end of the spectrum, so I don't see how the average across all function in, say, JPMorgan could be twice as much.So$375 all in for a top tier VP in IB trading with about 7-8 years exp. Sounds right to me.would be quite interested in the base+bonus breakout of the surveyIt's £ and it would seem not only trading.

slacker
Posts: 114
Joined: January 14th, 2006, 12:21 am

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^^ sure I just converted to USD as thats my point of reference. However, if this covers roles outside of trading as well, color me surprised!

DevonFangs
Posts: 3004
Joined: November 9th, 2009, 1:49 pm

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QuoteOriginally posted by: slacker^^ sure I just converted to USD as thats my point of reference. However, if this covers roles outside of trading as well, color me surprised!JPM quote would be \$550k!