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Old 02-18-2008, 02:06 PM   #16
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Originally posted by anitram

They are getting you for VERY cheap this summer, so I think you are low-balling your potential after graduation. Law students on Wall St. are netting $3100/wk, by comparison.

I am not doubting your figures but the relevance of this comparison is doubtful. Different specialism.
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Old 02-18-2008, 02:16 PM   #17
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Originally posted by Infinitum98
Oh wow 30 hours? That is awesome, where do you work? What do you do?

Thanks for the tips.
My current role involves management accounts, business planning, budgeting - that kind of thing.
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Old 02-18-2008, 02:55 PM   #18
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Quote:
Originally posted by financeguy

I am not doubting your figures but the relevance of this comparison is doubtful. Different specialism.
I only brought it up because a couple of my friends who are doing joint degrees (JD/MBA) and working in PE are getting substantially more than that sort of sum over the summer (and much closer to what they'd get at the firm - like I said, the standard is $3100/wk and this is public knowledge). But I guess it's likely they are getting paid at a premium given that they're amassing more degrees?
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Old 02-18-2008, 10:57 PM   #19
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Quote:
Originally posted by anitram


I only brought it up because a couple of my friends who are doing joint degrees (JD/MBA) and working in PE are getting substantially more than that sort of sum over the summer (and much closer to what they'd get at the firm - like I said, the standard is $3100/wk and this is public knowledge). But I guess it's likely they are getting paid at a premium given that they're amassing more degrees?
Yeah thats probably what it is. I know that an MBA really makes a difference in salary for IB, Hedge Funds, etc. It also provides more job security. I talked to one of my experienced professors and he told me i'm guaranteed six figures starting next year. I'm excited about that. However, the hours are going to murder me. I would much rather do trading. Unfortunately more and more trading is going electronic nowadays.
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Old 02-19-2008, 10:37 AM   #20
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Quote:
Originally posted by Infinitum98

I would much rather do trading. Unfortunately more and more trading is going electronic nowadays.
The firms still employ traders, even in an electronic environment.
Also, traders are evaluated more on how much money they make or lose for the firm. Those who make little or no money get a smaller bonus and/or are eventually cut. It's still probably worth giving it a shot though.
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Old 02-19-2008, 10:48 AM   #21
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Originally posted by financeguy


My current role involves management accounts, business planning, budgeting - that kind of thing.
OHH. so that's why you're the financeguy. i thought you were just a fan of that dude.
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Old 02-19-2008, 11:18 AM   #22
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So speaking of financial data, I read this little item about how the US govt is shutting down a website that tracks economic indicators.

Quote:
The Bush administration’s latest move is to simply hide the data. Forbes has awarded EconomicIndicators.gov one of its “Best of the Web” awards. As Forbes explains, the government site provides an invaluable service to the public for accessing U.S. economic data:

This site is maintained by the Economics and Statistics Administration and combines data collected by the Bureau of Economic Analysis, like GDP and net imports and exports, and the Census Bureau, like retail sales and durable goods shipments. The site simply links to the relevant department’s Web site. This might not seem like a big deal, but doing it yourself–say, trying to find retail sales data on the Census Bureau’s site–is such an exercise in futility that it will convince you why this portal is necessary.

Yet the Bush administration has decided to shut down this site because of “budgetary constraints,” effective March 1.

Economic Indicators is particularly useful because people can sign up to receive e-mails as soon as new economic data across government agencies becomes available. While the data will still be available online at various federal websites, it will be less readily accessible to members of the public.

In its e-mail announcement on the closing of Economic Indicators, the Department of Commerce acknowledged the “inconvenience” and offered “a free quarterly subscription to STAT-USA®/Internet™” instead. Once this temporary subscription runs out, however, the public will be forced to pay a fee. So not only will economic data be more hidden, it will also cost money.
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Old 02-19-2008, 02:47 PM   #23
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Originally posted by ntalwar

The price will be volatile, but the trend is still up.
Quote:
Feb. 19 (Bloomberg) -- Crude oil advanced to a six-week high above $99 a barrel in New York, and gasoline futures rose to a record, on speculation OPEC will curb production.
This is why I'm still long term bullish (and long) on energy. Supply doesn't know about demand. Until we start seeing mass conservation or rationing, prices will stay high and move higher.
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