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/

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.

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!

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

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.

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

Hi, may i know what is the minimum starting salary for a inexperienced futures broker in Singapore? Thanks.

Keith, I'm afraid I do not have the answer. Does anyone else know?

any brokers here?

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