Investing (1 Viewer)

HazzRat said:

S&p500 is still slightly better.

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scaryshark09 said:

What are some good investments in 2024?
Are there better options for my money instead of a savings account?
What are some steps I can take now to ensure I can afford to buy a house in Sydney?

Feel free to discuss

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HazzRat said:

I should genuinely become an option trader

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Queenroot said:

Yes any trading job is where the money is at, iirc Jane Street quant trading grad roles are about 300k. I'd make the switch if I was still in uni.

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Queenroot said:

The median salary for being able to afford a house in Sydney is about 300k. Invest in finding a rich partner at this point

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Squar3root said:

This is my plan

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Queenroot said:

Yes any trading job is where the money is at, iirc Jane Street quant trading grad roles are about 300k. I'd make the switch if I was still in uni.

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Trebla said:

Don’t think it’s that high for a grad? (maybe with max bonus achieved)

Even then, derivative trading roles are like insanely competitive (like almost investment bank tier competitive). It’s pretty normal for these places to only hire like <10 grads a year. They usually look for very maths orientated people rather than people in finance. If you are aiming for this role, make sure you have a pretty intuitive grasp of numbers and fluency in mental math calculations (i.e. no calculator) at a bare minimum.

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Squar3root said:

Wasn't optiver and Jane street like 250k b4 bonus?

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Squar3root said:

Wasn't optiver and Jane street like 250k b4 bonus?

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Trebla said:

It looks like the case for Jane Street from their official website as their “base salary” but I am not sure if it is also true for all similar firms.

There are some screenshots floating around of the Optiver website that suggest it is $250k total package (can’t locate it in their official website myself though). This seems to also be consistent with other sources such as Glassdoor. Also, when I was in uni Optiver was marketing their grad program having a base salary of $100k+. I would be surprised if the base salary has actually more than doubled since then. IMC also seems to have base salary around $125k with total package up to $200k.

Other thing to consider is that these places apparently have high attrition rates and a flat structure. So you prob need to figure out what your next career move will be not too long after getting hired, as it is likely going to be a short term stint.

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Trebla said:

Don’t think it’s that high for a grad? (maybe with max bonus achieved)

Even then, derivative trading roles are like insanely competitive (like almost investment bank tier competitive). It’s pretty normal for these places to only hire like <10 grads a year. They usually look for very maths orientated people rather than people in finance. If you are aiming for this role, make sure you have a pretty intuitive grasp of numbers and fluency in mental math calculations (i.e. no calculator) at a bare minimum.

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cosmo 2 said:

zero interest rates are now done, investing is not going to be as lucrative in the coming decades as it was in the decades prior. you missed out

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HazzRat said:

A call is basically when u bet with a stock broker that a stock with hit a certain strike price within a given time period (for American options at least). OTM just means out of the money (very risky). So what u do u buy a call for NVDA at say $600 within the next month (atm those calls go for abt $3.90), and every dollar it earns over $600 is urs to keep. If it doesn't hit the strike price u lose all ur money . Still funner than investing.

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