How much money do you need to be a “master trader”?
(The answer can vary depending on where you go to college and what your majors are. Some will tell you $200 a month for the first 4 years, then $2,000 for each 10% bump. This is where you get to have fun and experiment. Just be sure that you have the financial tools needed to make $5,000 a month over the course of your professional career. For example: if you earn $200,000 a year, you won’t be a master trader until you have earned $500,000 a year.)
How to figure out your annual salary and take stock of the best possible option available for you in any given situation?
(You already know the answer to this question, right? It’s $65,000 or more, for sure. You’re going to be a star because you’ve studied so hard and you’re so passionate about the market and this is YOUR career. That’s why it’s going to be your goal to hit this number and beyond.)
Who do you want to be in 5 years?
What is the salary range you’d like to reach?
What is the average salary for a hedge fund manager?
Are you willing to put yourself in a position with some major responsibility – like being the chief financial officer of a company – in order to get this position? Have you taken advantage of your time abroad, even if you don’t do the day-to-day trading?
What is your current goal?
What is your target salary for that initial job, assuming you have that job? (Most will be in the $100,000-125,000 range, depending on what your school or program offers.)
Who (if anyone) will be making the most money from the job, assuming you do the initial day-to-day trading? And you are already confident enough that you’re going to hit that number and beyond – will you be able to make more money than everyone else?
How do you make money in banking and investing?
What is a money market?
How does leverage work in today’s markets? How many dollars do you think you would need to make with leverage to make the same amount when you’re at $10 or $15 a share?
How many funds are you willing to own at any given time?
How do you handle a sudden rise in market interest