Anyone work for Merrill Lynch, Morgan Stanley or other financial?

[Mandinka2]

All of the good IB firms hire out of my college, unfortunately I don't think I did well enough in school to get into any of them.

I am very close to getting a position at one of the big name hedge funds here - very psyched about that since it is pretty much my dream job.

I would say I'm a few months out.

Considering you are located in one of the hedge fund centres of the world that is not such a massive achievement.

Matt - if you're net worth exceeds $20m. you are well in excess of the average private equity investor , particuarly in the indirect market (not my first choice either as it happens). Finally be aware of survivorship/marking to market bias when looking at past returns some of these fund offer.

- Actuary for major reinsurer

 

[OMGWTFBBQ]

- Actuary for major reinsurer

How much does that pay and what sorts of bonuses do you get?

If I can't get this hedge fund thing, then I will be looking at reinsurance since that is big here too.

I'm curious which reinsurer you are with - is it based here (legally)?
Feel free to PM me if you don't want to discuss it on here.

 

[sawastea]

I work at Lehman Bros in Manhattan

 

[Mandinka2]

How much does that pay and what sorts of bonuses do you get?

If I can't get this hedge fund thing, then I will be looking at reinsurance since that is big here too.

I'm curious which reinsurer you are with - is it based here (legally)?
Feel free to PM me if you don't want to discuss it on here.

You bet your tax-havened ass it's big there 2. Let's see , it's pretty much a standard $200k for qualifieds plus bonuses , if you work for a reinsurer then it goes up dramatically cos of volatile profit signatures BUT there is an average time to qualify of 10.6 years for the major professional exam centres so major cojones are required if you want to pull thru quickly. Many of the reinsurers in Bermuda are niche market players writing terrorism and derivative type contracts so if you go down that route I assure you that you will be well placed to go into investment banking if that is your choice. Check your PMs for the answer to your other question.

 

[OMGWTFBBQ]

Mandinka2 - thanks for that - I'll check my PMs - I would definitely be interested in asking you a few questions.

 

[Mandinka2]

Actually , what i meant to point out is that often actuarial work should not be your main goal if you wish to make money - just try and get into reinsurance sales - I have seen slips for $10m. and upwards written on the back of restaraunt serviettes. Best of luck with it. Actuarial work is exactly that - work.

 

[Judo Tom]

what type of firms are hiring programmers or system analyst/ data modelers/ what not.. these days or will be starting to hire again..

i work for a company now but i am quickly out growing the company... any ideas on where i should move to next.. i would like to stay in the finance realm because i have done
"financial" programming / data modeling for 4 years now ?? and id rather keep expanding in that area..

if anyone has some real ideas or thoughts please post pm or email me

 

[MattTheSkywalker]

Considering you are located in one of the hedge fund centres of the world that is not such a massive achievement.

Matt - if you're net worth exceeds $20m. you are well in excess of the average private equity investor , particuarly in the indirect market (not my first choice either as it happens). Finally be aware of survivorship/marking to market bias when looking at past returns some of these fund offer.

- Actuary for major reinsurer

Mandinka - would be interested to see how many people we might know in common. I am friendly with some people invovled with re-insurance, though it's not their primary business.

As for private equity investors, many of the people I am affiliated with are invovled with much bigger numbers - does your $20M figure refer to the contribution by the capital source(s)?

I'll PM you in the not too distant future.

 

[collegiateLifter]

My firm is not shark like we do not do many deals as we are a small firm working with smaller sized institutions so we tell them to sell if it makes sense for them not for us.. i do agree that across the industry there are many sharks/snakes .. so at least i dont have that guilt.. not that i would really care...

its just the hours and overall craziness that can get to you i think..

All of the big houses are though.... Goldman Sachs wasn't until the 80's I believe but that days long gone.

 

[Testosterone boy]

Do I ask for FistingIvan? Someone I know must have consulted on the movie Boiler Room because alot of those cheesy sales pitches they gave I have used myself when I worked for Lehman Brothers in Atlanta. I never worked for any penny stock firms but the hard sell tactics were very accurate of young brokers. That's why I got out. I just couldn't stomach doing what the guys that did well were doing to get ahead.

I have similar sentiments though my experience was at Merrill.

The first year is hell, don't kid yourself.

Selling a business to be a stockbroker? Personally I would never do that.

I have two small businesses and make about $90/hr working part time. I would get out for a decent opportunity in Australia in a heartbeat but that is a different subject.

My main business is absolutely thriving since I made some changes last year, I just can not see a future for America doing what we are doing.

Good for the optimists, I am a pessimist. Sorry about a slight thread derailment.


Matt....if you read this. You have been out of the Army for three years or so. Making $650,000/yr, how can you be worth $20,000,000? Perhaps I misread something.



Back to brokering, we had a guy who made over a million/year. Biggest asshole I ever knew. Bar none.