Junior Trader Makes $200k - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Income and Jobs

Income and Jobs Discuss jobs, career options and of course salaries




Junior Trader Makes $200k

 Citibank Cash Back Card - up to $350 cash back* - Click to Apply Now 
Reply
 
Thread Tools
  #1 (permalink)  
Old 25-01-2008, 10:59 PM
Salary.sg
Guest
 
Posts: n/a
Default Junior Trader Makes $200k

In the news recently is a 31-year-old trader who singlehandedly lost about $10 billion for his company.

Yes, you heard it right - it's ten billion dollars. That is: 1 followed by 10 zeros.

His name is Jerome Kerviel, and he works as a junior trader for the French bank Societe Generale.

What is interesting is that despite his "junior" status, he is making some $200k a year including bonus, as reported widely.

How many 31-year-olds in Singapore make $200k a year?

According to the popular benchmarking tool in this website, if you make $200k a year or $16,666 a month, you beat 97.6% of your cohort.

So, if you want to make this kind of money, aim to be a trader in a financial institution.

And try not to get fired.

http://www.salary.sg/2008/junior-trader-makes-200k/

Reply With Quote
  #2 (permalink)  
Old 28-01-2008, 09:57 AM
Al---
Guest
 
Posts: n/a
Default 774

Hi,
I like the amount that Jerome is making, however, I would like to kindly point out that it's not fair to compare the salary there to here. Reasons being:

1. In France, the tax rate is about 40%, so countries with high tax tends to pay higher. 60% of 100k (euros) = 60k euros.

2. Note that it's in Euros and SGD so the amount is doubled. If you really wanna compare, why not take the British Pound (x3)?

It's not right to compare money like this and create unnecessary sentiments of jealousy and discontentment.

Hope that helps. Regards.

Reply With Quote
  #3 (permalink)  
Old 29-01-2008, 08:58 AM
admin---
Guest
 
Posts: n/a
Default 778

Al, you made a fair point.
However, France has a much better social security and welfare system than Singapore, taking care of your health, unemployment and retirement. And the French only work 35 hours per week!

Reply With Quote
  #4 (permalink)  
Old 30-01-2008, 10:15 PM
Al---
Guest
 
Posts: n/a
Default 780

Hi admin, that is true. Western countries do take care of their folks well. I spend a considerable amount of time in Australia and its the same there.
However, I am not so sure about the working hours as a trader even in France or Aussie. I am sure its pretty long cos the industry demands it. But whatever it is, it is always probably lesser than here in Singapore...
Cheers,
Al


SG Bus Timing App
SG Bus Timing App - the best bus app - available on iOS and Android


SGX Stocks Android App - check share prices
SGX Stocks [Android] App - check latest share prices on the go


SGX Stocks for iPad - check latest Singapore share prices
SGX Stocks [iPad] app
| SGX Stocks [iPhone] app
Reply With Quote
  #5 (permalink)  
Old 10-02-2008, 11:17 PM
Kelvin---
Guest
 
Posts: n/a
Default 832

Yes, bank traders do make a good living in Singapore as well.

Along with that comes the lack of job security and ultra-high stress levels. There are few traders in banks who are above 40 for a reason.

The notion that his life must be good is laughable. No doubt we have all heard of the French implementing the 35 hour work week. I can assume you no trader will survive if he adheres to those hours.
Reply With Quote
  #6 (permalink)  
Old 08-03-2008, 03:34 PM
trader---
Guest
 
Posts: n/a
Default 1035

Yes, derivatives trader does make this amount of money.
If you are in exotics product field, total payout will be >SGD500k
If you are in prop trading desk, you should make 10% of total pnl ( a good year ard 10mio)
If you are in credit desk, you are thankful to keep your job if you are hit by cdo toxic stuff
Reply With Quote

  #7 (permalink)  
Old 18-03-2008, 07:02 PM
Keith---
Guest
 
Posts: n/a
Default 1120

Hi, may i know what is the minimum starting salary for a inexperienced futures broker in Singapore? Thanks.
Reply With Quote
  #8 (permalink)  
Old 19-03-2008, 10:37 PM
admin---
Guest
 
Posts: n/a
Default 1127

Keith, I'm afraid I do not have the answer. Does anyone else know?
Reply With Quote
  #9 (permalink)  
Old 02-05-2014, 09:44 PM
Unregistered
Guest
 
Posts: n/a
Default

any brokers here?
Reply With Quote
  #10 (permalink)  
Old 08-06-2014, 02:11 PM
Unregistere
Guest
 
Posts: n/a
Default

the article is 6 yrs old, is it still relevant in today's context?
Reply With Quote
Reply

Bookmarks

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Be a commodities trader Salary.sg Income and Jobs 222 01-10-2020 08:31 PM

» 30 Recent Threads
Business / System Analyst
2 Replies, 907 Views
Feeling helpless, need advice... ( 1 2)
19 Replies, 6,426 Views
Job offer from Apple ( 1 2 3... Last Page)
490 Replies, 107,919 Views
Compare civil service salary ( 1 2 3... Last Page)
10,891 Replies, 6,019,038 Views
GovTech Tech Associate Program...
9 Replies, 3,279 Views
ST Electronics ( 1 2 3... Last Page)
1,019 Replies, 278,678 Views
Mid-Year Civil Servant Bonus 2020 ( 1 2 3... Last Page)
95 Replies, 23,400 Views
anyone work as trainer with...
2 Replies, 1,887 Views
Career as Teacher ( 1 2 3... Last Page)
2,946 Replies, 1,807,043 Views
MAS : Mid Career Professionals ( 1 2 3... Last Page)
234 Replies, 144,931 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
1,044 Replies, 831,669 Views
Lawyer Salary ( 1 2 3... Last Page)
9,726 Replies, 3,167,385 Views
HSBC Graduate Programme 2021 ( 1 2)
16 Replies, 2,335 Views
Job Application with MOE... ( 1 2 3... Last Page)
251 Replies, 230,240 Views
Enterprise Singapore hiriing... ( 1 2 3... Last Page)
122 Replies, 47,089 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
3,453 Replies, 2,046,468 Views
How much are you earning per annum? ( 1 2 3... Last Page)
12,087 Replies, 3,880,802 Views
How much do you need to retire... ( 1 2)
13 Replies, 2,471 Views
GovTech career grade ( 1 2 3... Last Page)
134 Replies, 168,021 Views
Banker or Financial Advisor Career...
9 Replies, 1,176 Views
Compilation of MAs/Analysts Gross... ( 1 2 3... Last Page)
157 Replies, 40,389 Views
Engineer Pay ( 1 2 3... Last Page)
145 Replies, 53,996 Views
Roles in accenture singapore ( 1 2 3... Last Page)
422 Replies, 276,580 Views
Python programmer skillz and pay
3 Replies, 369 Views
What are your struggles having...
0 Replies, 162 Views
You Can Buy Happiness
8 Replies, 6,727 Views
I need advice
3 Replies, 562 Views
Sharing my Passive and Active...
8 Replies, 2,200 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 06:45 AM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2