Anyone work in JPM/GS/Morgan Stanley back office before?

Originally Posted by Unregistered

I work for one of the 3 banks listed here. Lol u only need to get compliance approval? Then MAS should close down your bank soon. And also dont forget about the 30 day holding period. U absolutely can't buy stocks like DWAC for a quick fortune and thrill when there are such restrictions lol.

For me I simply cant take away trading from my life, it helps to bring joy and destress me from work, so choosing to go away from FO is a natural choice.

I doubt you work for one of the 3. Every employee in a bank is subject to the same restrictions, BO, MO or FO. This is exactly the same situation as the big 4. So why are you, a BO or MO guy exempt from the same rules as FO? The FO working in the same company could easily tell the MO guy to invest on his behalf. Remember, MO functions like Risk works extensively with FO functions. So you're telling me that MAS choses to stay blind to this very obvious loophole? Btw, this also applies to all MAS exempted buy-side firms. All are subjected to the same compliance checks.

30 days holding period is true but come on you're telling me the FO guys who have practically spent most of their waking houes doing financial modelling (IB) and industry and stock research (S&T) chooses to buy meme stocks because some patterns or lines tell them to buy? So when it comes to their personal finances, they chose to forget their intellectual rigor when it most matters?

If you wanna do day or swing trading, be my guest. But EHM would always prevail in developed markets and you'll eventually be on the losing end. Go to any brokerage and the statistics are telling. 70%+ of all retail traders lose money. Retail traders are the very people using these backward technical analysis models. I don't care who you are, whether you are one of the 20+% retail investor not losing money. If you're speculating on meme stocks like DWAC where all the dumb money are, probabilistically you're gonna end up 1 of the 70+%.

TLDR: You sure the hell don't work in any of these banks, let alone in the financial sector.

Is this a thread for anonymous people to network and get into JP/GS/MS?

Originally Posted by Unregistered

I doubt you work for one of the 3. Every employee in a bank is subject to the same restrictions, BO, MO or FO. This is exactly the same situation as the big 4. So why are you, a BO or MO guy exempt from the same rules as FO? The FO working in the same company could easily tell the MO guy to invest on his behalf. Remember, MO functions like Risk works extensively with FO functions. So you're telling me that MAS choses to stay blind to this very obvious loophole? Btw, this also applies to all MAS exempted buy-side firms. All are subjected to the same compliance checks.

30 days holding period is true but come on you're telling me the FO guys who have practically spent most of their waking houes doing financial modelling (IB) and industry and stock research (S&T) chooses to buy meme stocks because some patterns or lines tell them to buy? So when it comes to their personal finances, they chose to forget their intellectual rigor when it most matters?

If you wanna do day or swing trading, be my guest. But EHM would always prevail in developed markets and you'll eventually be on the losing end. Go to any brokerage and the statistics are telling. 70%+ of all retail traders lose money. Retail traders are the very people using these backward technical analysis models. I don't care who you are, whether you are one of the 20+% retail investor not losing money. If you're speculating on meme stocks like DWAC where all the dumb money are, probabilistically you're gonna end up 1 of the 70+%.

TLDR: You sure the hell don't work in any of these banks, let alone in the financial sector.

I'm not the original poster but some banks have different rules for Public-Facing(Front Office) Vs Non-Public Facing.E.g They erect a virtual china wall etc. I now work for a local bank and MO and BO can trade without any restrictions as long as they use the company's brokerage account. A different set of rules apply for the FO. One of the IBs I worked when I graduate only allows MO and BO to trade and we must transfer all our holdings to their designated brokerage.

Lol. Wow. MO/BO drive conti + 3BR condo. I am 2yr exp in FO S&T drawing 170k base with last taken 65k bonus. I have a 3BR condo, no car. And FYI most of the seniors in trade floor take the MRT.

Originally Posted by Unregistered

Lol. Wow. MO/BO drive conti + 3BR condo. I am 2yr exp in FO S&T drawing 170k base with last taken 65k bonus. I have a 3BR condo, no car. And FYI most of the seniors in trade floor take the MRT.

David Solomon takes the subway to work.

Originally Posted by Unregistered

Is this a thread for anonymous people to network and get into JP/GS/MS?

u mean ppl who dream of getting in but cant get in and lament on this forum?

For those currently in JPM/GS/MS back office, how was your 2021 bonus given the record breaking earnings these banks had for last year? Also, did the BO receive any salary increments given that the FO got several pay hikes? Thanks in advance

Originally Posted by Unregistered

For those currently in JPM/GS/MS back office, how was your 2021 bonus given the record breaking earnings these banks had for last year? Also, did the BO receive any salary increments given that the FO got several pay hikes? Thanks in advance

2 months++ 10char

BO ppl can't compare to FO... will rather work FO in DBS than BO in GS

Originally Posted by Unregistered

BO ppl can't compare to FO... will rather work FO in DBS than BO in GS

Local FO bonus is p bad. Subjective tbh — long hours + long hard grind starting from local bank with much more stress vs 9-6+, GS BO 5k grad starting with 2-3mths bonuses.