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"If you're going to give up the best years of your life, your 20's, to get up in the dark and go home in the dark and sit all day at a computer staring at algorithms for 10 years, you need to understand what you're going to be compensated to do that." ..This just blew my brains...Definitly working towards building my own asset base so I can get financially free while I'm still young
20's aren't your best years, not even close, most people will be living basic lives, working hard and hustling, you start reaping the rewards in your late 20's/early 30's and that applies across all industries, not just banking
A lot of you guys are not realising what he is doing, he is trying to deter people from going into a job market which has no monetary gain, he is doing us a service, most people join the sector for the money, but he is warning them its not worth it.
CyanideShock You fucking idiot! Everyone knows Investment banking pay is mediocre and the hours are shit BUT no one on the buy side aka private equity funds, hedge funds, etc... will hire you unless you have pedigree aka investment banking experience or equivalents such as consulting or asset management.
Many people lose thousands of dollars without having heard Anton, if they had the opportunity to listen to Anton before, perhaps now would be millionaires. I am one of them and I'm not ashamed to say it. Even without having made any Anton program, I could understand it to be able to say that he is absolutely right. After losing 100,000 in the market, and become bankrupt, I can now understand each letter of his mouth. Thanks anyway Anton. Continue with your good work.
Hope the students that were listening to Anton realized what they were getting into and are carving their own path instead of wasting their time and energy for these corporations.
I agree with everything he's said here pretty much but kinda laughed when he said "can you live off £8,300 a month + 50k bonus? You'd live a basic life". pretty sure you'd still be earning/living better than 99% of the people out there, and you definitely would have more money than if you were trading yourself, unless you had like 100k starting capital and were making more than 100% return per year.
You pay personal tax up to 40% tax including NI on a salary vs. corporate tax at 21% if self-employed. Bear in mind the tax deductible & CG tax relief. Also referring to London as you would need to live there to get these graduate jobs
Everyone who earns between £45k-£150k and works in Central London pays the same tax, whatever job they do and compared to most other jobs, £100k-£150k is a good salary! The killer isn't the pay but the long hours, drudgery and limited scope for promotion/advancement which is why successful traders move onto hedge funds after obtaining a few years experience.
Basic life here means just normal life. You got to bear in mind these kids apply for these jobs thinking they will be multimillionaires by age 30, and he is saying that not going to happen.
@GonzoTehGreat He also mentioned you have to live in central London. With a net salary of 150k you will certainly live well, but you will live in a flat and drive a BMW, not living in a penthouse with a helicopter and a porsche with kids at Eton. And you will be working like a dog to get there.
jeffrey dahmere I went to one of his london seminars it was brilliant, trading is really about idea generation. I used to watch his trader meetings very informative, do not know if they are behind paywall now.
Rush Boost .idea generation means what in your own mind that you think a company, commodity,currency will do in the future, after you have looked at all the available balance sheets,statistics,past histories.
I agree! but perhaps his "basic" is from a successful brokers opinion cause I am perplexed by this as well. I lived in London and you could live on that figure above basic!
i thought the same as you...Even if he spends £5,000 a month on rent, bills, entertainment,food and transport. He still has over £3,000 left to his own devices. Plus you dont need to live in central london to get to your desk for 6.00am. You can live in other parts of london and get to work on time by driving, its before 'rush hour' so the journey will be quite smooth
+xiaole kong There is also the fact that much of the networking that is vital for banking roles costs a lot of money. You have to spend the money to stay in the loop.
Regarding the money, you must realise that these people work 90-100 hours a week. Just look at the recent report of Goldman associates. So 5k or even 8k a month working 90 hours a week translates to 2k to 3k a month based on 40 hours a week which just really isn't much. Especially considering that the bonuses you earn later are under a lock up, it's beyond fucked up.
+Vex T It's very true. A lot of these kids focused too much on studying so they didn't even look at career options thoroughly. And a lot of them are only there because they have had better opportunities by having rich parents.
Truth is nobody answers his questions because they're afraid of making a fool out of themselves. If you can't figure that out you've obviously never been in a class with smart people
If students are afraid to get things wrong in class or, even worse, think someone else is stupid for getting some thing wrong in class, then they're not smart at all! It's a lot better to make your mistakes in a classroom than on the factory/trading floor!
Sam K I used my offset mortgage, within 5 years mortgage free with cash invested in the portfolio today. But l invested post Lehmans crash so l got in after the big falls in the market.
Sam K True but for me it was a cheap loan. I occasionally use a loan to trade if i'm low on equity and see an opportunity. In the UK you can pay this back after a month with a small fee.
Anton believes the most important value is time. A numerical figure at the end of the month cannot compensate your time. And for the 20's, well, you wont even remember them once you're 30 and you've finally seen daylight for once haha. Alot of students have no idea of the job description at investment banks, and think most of their job is going to be prop trading. The truth hurts.
Spot on! Trading time for a promise that doesnt exist, then slowly brainwashed and indoctrinated into a corporate drone. The strategy of the Crony Capitalist Globalist employer is to make you believe in their ideology through servitude and indoctrination.
You know there is a cost to Mentoring. We dont give away free holidays and 3 months of life changing education for free :-) The reson for Due Diligence is because even if an applicant can afford it, we still get plenty of wierdo's and cooks applying and we reject them. So as long as you are serious and mentally together you will be accepted.
thing is a lot of people graduating and getting a first job will be on a smaller salary or the same salary as a financial analyst in london, so tbh i don't see what he's trying to imply
Why do you need to live in Central London? You can live around Shoreditch/London Bridge and just cycle in which would take you 5-10 minutes. I get that no one wants to be seen on a bicycle but you can get some cheap disguises, like a fake moustache and a hat, for a few quid.
I have two questions , 1- how to deal with taxes do you have any advice 2- if your are trading stocks from an euro(or other currencies ) account and you buying stocks in dollars , do you think would be better to open an account in dollars and trade from that account or it doesn't matter thanks
The fact that a stock is traded in a certain currency, doesn't mean that holding it will make you exposed to that currency (sometimes it does, if the company itself is holding a lot of cash in that currency). There are several big companies which are traded on multiple major exchanges in several different currencies at the same time, which should prove this point.
I am currently an actuarial sciences student... I was seriously interested in going into the investment banking jobs market until a few months ago... when I realised that the educational standards for international students where I am... China... is appalling... so I decided to leave school, pursue my actuarial certification exams over a year...and end at ASA with the society of actuaries... at that point I was thinking of opening my own hedge fund... I've been a retail trader for about a year and a half now... I've made about 170k in that last year... ups and downs... a lot of time and money invested obviously... I was wondering if you had any advice for someone like me... if I'm making the right choice by leaving school and pursuing my certification because of the time and money invested in an actuarial degree just aren't worth it... hoping to hear from you... also... I'm very interested in registering for the itpm training program because obviously I would like to end up an institutional trader... thank you in advance...
Also... just btw I was looking at your website... and the services you're offering are extremely undervalued... maybe I'm looking at it according my marginal utility and not that of the market... but... it's EXTREMELY cheap...
he is not laughing at them. He is using humor and facts to highlight the reality for them and this is the very purpose of the seminar i.e. to help them NOT laugh at them.
there are a decreasing number of hedge funds every year because of algorithms. Hedge funds are in a structural decline but its not as massive as IB and if you know how to code its an opportunity. People bring value to hedge funds when they can analyze data very well so you still have a job if you can analyze data and invest over a longer time horizon because a robot cant analyze data.
He's right about the 20s being the best years, my 20s was a grand slam. All the stuff I did is a driver of what I'm doing now, so ahead of my peers its not even fair.
I'm 18 living in Connecticut and have been trading for two years now on a friend's account, I made a return of 27% last year, I know that this was about the return of the DJIA, but compared to average industry standards, would this be sufficient when applying to a hedge fund to show them my track record? Also, where would be the best place to start? I'm currently working in an internship at a publishing company both for money and experience working in an office. I'm in my first year of college with Business Administration as my major. I spend a lot of my day monitoring my portfolio and learning what's going on in the markets, mostly domestic US. I always watch webcasts like this and even have them on in the background while I'm working because I want to learn as much as I can about the industry and opportunities within it. Thanks in advance, love this series.
There's a disconnect between what Anton says and what, I guess, I perceive to be happening. Bank profits are up, big time. That can either be from cutting costs or by increasing revenues, and it's probably a combo of both. However, revenue from trading is up for these banks since the crisis. Maybe not in plain vanilla equities, but probably more from structured products and derivatives. Those businesses seem to be doing well, and so there are probably still some great opportunities in that space of the bank.
Very interesting presentation and I'm not even remotely involved in any finance. But I know what it's like to have your post-College/Uni expectations crushed, lol. The education system has really failed everybody across the board, it seems
So basically you're better off working in a McDonalds in Newcastle. than working in an investment bank in London. Their parents need whipping, poor kids...
Whilst I agree with the majority of what Anton says in this video, he is dead wrong 6:30 minutes in. Many people are able to live off even a 25k salary after tax comfortably in Central London.
I agree, he is talking hot air. I mean he even said you would only be able to save £1K a month out of a net salary of £8K if 'you are lucky'... I mean that's ridiculous. Who blows through £7K a month? Tells me he probably has poor money management...which makes me wonder how he managed to be so successful as a Trader?
Mega Chick look at his experience his journey , who he has worked for, then try listening to what he has said...again. he has lived it been there done that at the very top level, yet you say he is talking hot air. ....oh dear, you will go far....
If you include at least one holiday trip some where once a year. Dinner with friends or Gf and a shit car. There is not a lot of money left. He is trying to put some sense into all these student who dream of a lavish life style like the wolf on wall street. It is not true. I applaud him for making these student understand harsh reality of the industry.
_"Everyone who lives on 25k in central london is broke, I did it."_ He said £25k NET (not GROSS) so your monthly take home pay would be £2000, half of which would be spent on living costs leaving you with £1000 in disposable income each month! To earn £25k after tax you'd need a salary of about £40k.
A good trader might always be accounting for variable change in world relations, and might assume that their ability to make money working as a trader will come back around when the market becomes less volatile. The 80% downturn he speaks of could go the other way.. rapidly?
Same old story ...don't follow the sheeple , don't believe what others say and if you want results, DIY. Apprentice yourself for a time to someone who knows WTF they are doing. I think it would be better to work for someone for nothing just to learn what the story really is . Work a part time job, work like a dog and learn from a professional trader and have no education debt and lots of experience.
Maybe I did not catch this correctly but my question is: if Investment Bankers are generally declining in quality, and hedge funds are better performers, then, why are Investment Banks still controlling the world's money?
This guy owns a hedge fund and is looking to recruit people for it, so he's biased. However, it's also true that the best and brightest can make more money in hedge funds because they're less regulated than banks, so he visits the best universities to persuade them to work for him... As for the IBs, like most corporations, they're hierarchical pyramids with most of the power concentrated in a few people's hands. It's these elites at the top who run things.
I think a lot of people here are young students drawing the wrong conclusions. Everything he says is true BUT it’s limited to trading. Investment bankers in m&a and industry groups are different from traders and there will always be fees for m&a transactions.
These salaries after analyst are not that bad compared to the rest of possible jobs. Yeah they are shitty for living in the city but I think he's being a bit dramatic.
The more I listen to this presentation, the more I am grateful not having this job. I quite enjoy living a simple life, earning ~ 36.000€ gross from active job in a year, being able to safe 60% of my income and having enough saved to live of my passive earnings before becoming 40. Spending >70h a week as described in an office is too much life time and quality IMO I pay for some more bugs actively a year.
Depending on what a standard life means to him.... But for most people 40k living in London (not central) is very good money. My parents make a lot less than that and still have a very good life. This being the reason why most people apply for investment banks, also there are more positions offered than in a hedge funds. But i agree hedge funds are the best option. I hope i get a position this year.
What people need to realize is that this guy is here recruiting people for the class that he teaches. If you couldn't still make good money in Ibanking nobody would be there. I'm not saying this as some random person looking in from the outside but as someone looking out from the inside
It's not about faith in our actions (verbs) that make us righteous and brings us to heaven., It's about faith on God son jesus (the noun). All sins washed on the cross as a gift from God who loves you. John 3 15 That whosoever believeth in him should not perish, but have eternal life. 16 For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life. 17 For God sent not his Son into the world to condemn the world; but that the world through him might be saved. 18 He that believeth on him is not condemned: but he that believeth not is condemned already,
these kids nowadays have 0m brains 0 imagination for most part, the industry they are going to is dying, its heyday where the late 80s to 07... the industry that is going to boom now is engineering and agriculture, for example hemp farming, we have 9 billion ppl on the planet and no farmers food is going to be a investment, also seed companies there is also other markets and businesses like 3 d graphics that are ok but for most part the easy money is over this is the age of deflation, or inflation it will be crisis and extremes high unemployment etc, we are going to pick up where the later 70s left us, because it was cheap credit that saved the west and upcoming nations like brazil china russia that entered the game and took more debt, so or u are a good trader witch 90% arent and loose all their cash or u better find another line work, might not even find one.
Every single thing he has said has come true and a million times worse. If this guy had to do this very presentation along similar themes in 2023, he would highly recommend all these aspiring "bankers" immideately hoping the Aldi or Morrisons staff roster. Or, learn the art of money making via trades and do it yourself with your own money. Repeat, every single thing he has said has come true and worse.
?yeh kids 8000 a month net and 50 I on top at end of the year is peanuts .....might as well join the precariat and make minimum wage on zero hours.....srsrly what is this guy on,doesn't he know that most of the country make less than half that a month and you can forget about a 50k Christmas treat.this guy is a joke
+InstituteofTrading even in a 3000pm one bed flat in central London,you would still have 5000 spending money,And enough to put a deposit down each year as a end of year bonus.this way more than what Doctors earn ;and they actually do something useful for society.
are you somehow magically dodging the 40% tax and 11% national insurance (40+11)=51% somehow? Council Tax? Electricity, Gas, Water, Food, Transport too and from work. Clothes? Weekend entertainment? The people who work at these banks have to be in the office at 6.30am and leave around 6/7pm. If they are in production role, theyre are likely working back home till 10/11pm. then wake up at 5pm to go back to the office. They have no choice but to livein Central London. So you need to understand this is not earning GBP8,000 after tax in Sunderland, where you would actually be quite rich (upper middle class) if you did. That pay cheque means you eand up with probably GBP1,000 in savings per month in Central London. And thats if you lived like a monk and lived in a shithole. Then it would take you 5-7 years to be able to afford a deposit to put down on an apartment to buy on a mortgage, then congrats. You just signed up for another 25 years of slavery. You are looking at the world too simplistically and not actually digging into the detail and the reality. What is left in your pocket is the most important number NOT the vanity of the gross number.
+InstituteofTrading the 8000 is net:3000 will get you a nice 1 bed flat (yes even in central london):other cost (food+bills etc) 1500....you are still left with 3500 discretionary and a bonus at the end of the year which far surpasses what people would be able to save up.....1000 pound savings is incredibly good compared to most ppl in the country.you don't even need to save because you get an end of year bonus of 50k.after two years you can put down a deposit for something in zone 2 and definitely zone 3.You will not find renumeration like this in any other industry (bar hedge funds/PE.....even top level solicitors don't get end of year bonuses like that).in London the avg is now 40k a year (with zero bonuses ) which is 2500 a month;half of Londoners live on less than this,whilst having to pay same rents and work just as long.some perspective please
OK so you're slowly slowly moving away from the point of the video here. Which is to prove that for a graduate, the ridiculousness of the difference between the perception of the money a graduate will earn in a production role at an investment bank as for example a Trader, Vs the reality. So lets use your numbers and assume the grad gets to save GBP1,500 per month. Which is laughable by the way if you have any hopes of buying a home in Central London. Then lets use your 50K bonus (which is false by the way as the numbers in the presentation are completely accurate). But lets use your numbers anyway and live in fantasy. BUT i'll give you the ground on it and lets work it out. By end year 1 the grad will have saved GBP42,500 - basically enough to pay off their student loan. GBP - the 50K bonus you talk of (which no grad gets by the way at year end 1 or 2 or even perhaps 3) will be taxed at 51% by the way. (40%tax+11% NI). Then it will take them 4-5 years to save a deposit for a DECENT apartment. Not shitty, (because i assume the dream of a grad when taking a "dream job" is not to dream of living in shithole), so a DECENT, not good either just a standard boring 2 bed DECENT apartment. Then after 5-6 years of herrendous graft they have their reward. a DECENT aprtment (not owned) just mortgaged. So another 25 years of slavery to pay it off. Anyway. None of what i just wroter means anything. I was just humouring you by agreeing with your numbers. no grad at end of year 1, 2 or 3 will EVER be paid a bonus of GBP50,000 + like in the presentation at an investment bank. Additionally, in this case if we assume your numbers which is really genuinely the very best best best case scenario i.e. being able to save a clean GBP1,500 a month, just do what we did in the presentation. Divide the GBP1,500 per month by the amount of hours they worked to make that. So were now back to the central message and point of the video here. It is in the best best best case scenario on an opportunity cost basis not worth doing and is tantamount to slavery. Just a different form of slavery. One more point. 5% of grads that join make it to year 3. FACT! So no more replies from me. We wont entertain non logical non fact checked discussion. The numbers are real and it makes no sense for smart grads to sign up for this shit. Goodbye.
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"If you're going to give up the best years of your life, your 20's, to get up in the dark and go home in the dark and sit all day at a computer staring at algorithms for 10 years, you need to understand what you're going to be compensated to do that." ..This just blew my brains...Definitly working towards building my own asset base so I can get financially free while I'm still young
...did you not listen to what he said?
@@benjaminsibson4265
What exact do you understand from what he said?
20's aren't your best years, not even close, most people will be living basic lives, working hard and hustling, you start reaping the rewards in your late 20's/early 30's and that applies across all industries, not just banking
Ça cvwh pas de to ymny
Je g❤
A lot of you guys are not realising what he is doing, he is trying to deter people from going into a job market which has no monetary gain, he is doing us a service, most people join the sector for the money, but he is warning them its not worth it.
if there is no monetary gain in banking? Then which sector would you say there is monetary gain?
Mega Chick Other sectors of the financial market are still very lucrative and so is the tech industry.
CyanideShock You fucking idiot! Everyone knows Investment banking pay is mediocre and the hours are shit BUT no one on the buy side aka private equity funds, hedge funds, etc... will hire you unless you have pedigree aka investment banking experience or equivalents such as consulting or asset management.
@@CyanideShock IB pays much more than the tech industry.
Those students are like FUUUUUUUUUUUCK
What a cruel world for a student.
this is crazier than i thought..
This Guy IS No Joke...Take him, And I mean...Take him Very seriously....
Many people lose thousands of dollars without having heard Anton, if they had the opportunity to listen to Anton before, perhaps now would be millionaires. I am one of them and I'm not ashamed to say it. Even without having made any Anton program, I could understand it to be able to say that he is absolutely right. After losing 100,000 in the market, and become bankrupt, I can now understand each letter of his mouth. Thanks anyway Anton. Continue with your good work.
Hope the students that were listening to Anton realized what they were getting into and are carving their own path instead of wasting their time and energy for these corporations.
I hope that we get an update to this anytime soon...it seems like hedge funds are also paying less these days.
"Kiss your boss's ass". This cracked me out ! Hilarious !
We need more people like this to enlighten us!!
I agree with everything he's said here pretty much but kinda laughed when he said "can you live off £8,300 a month + 50k bonus? You'd live a basic life". pretty sure you'd still be earning/living better than 99% of the people out there, and you definitely would have more money than if you were trading yourself, unless you had like 100k starting capital and were making more than 100% return per year.
You pay personal tax up to 40% tax including NI on a salary vs. corporate tax at 21% if self-employed. Bear in mind the tax deductible & CG tax relief. Also referring to London as you would need to live there to get these graduate jobs
Everyone who earns between £45k-£150k and works in Central London pays the same tax, whatever job they do and compared to most other jobs, £100k-£150k is a good salary!
The killer isn't the pay but the long hours, drudgery and limited scope for promotion/advancement which is why successful traders move onto hedge funds after obtaining a few years experience.
@@GonzoTehGreat wisdom ⚡
Basic life here means just normal life. You got to bear in mind these kids apply for these jobs thinking they will be multimillionaires by age 30, and he is saying that not going to happen.
@GonzoTehGreat He also mentioned you have to live in central London. With a net salary of 150k you will certainly live well, but you will live in a flat and drive a BMW, not living in a penthouse with a helicopter and a porsche with kids at Eton.
And you will be working like a dog to get there.
I have just realized I am very very poor.
jeffrey dahmere I went to one of his london seminars it was brilliant, trading is really about idea generation. I used to watch his trader meetings very informative, do not know if they are behind paywall now.
I keep hearing "idea generation" and no one backs this up with what it is.
Do enlighten.
Rush Boost .idea generation means what in your own mind that you think a company, commodity,currency will do in the future, after you have looked at all the available balance sheets,statistics,past histories.
I really don't understand, a net £8500 monthly pay can only be a basic life style in Central london, do you eat gold everyday?
I agree! but perhaps his "basic" is from a successful brokers opinion cause I am perplexed by this as well. I lived in London and you could live on that figure above basic!
i thought the same as you...Even if he spends £5,000 a month on rent, bills, entertainment,food and transport. He still has over £3,000 left to his own devices. Plus you dont need to live in central london to get to your desk for 6.00am. You can live in other parts of london and get to work on time by driving, its before 'rush hour' so the journey will be quite smooth
A mortgage on a property in central London will easily be £5/6k a month alone.
cursethesemetalhans Thats for a basic tiny flat too!
+xiaole kong There is also the fact that much of the networking that is vital for banking roles costs a lot of money. You have to spend the money to stay in the loop.
Anton is the redpilling financial Jesus.
Fantastically interesting. Awesome BOTTOM LINE presentation, as usual, Anton.
Regarding the money, you must realise that these people work 90-100 hours a week. Just look at the recent report of Goldman associates. So 5k or even 8k a month working 90 hours a week translates to 2k to 3k a month based on 40 hours a week which just really isn't much. Especially considering that the bonuses you earn later are under a lock up, it's beyond fucked up.
Basically, it is all branding. Hollywood, newspapers etc made people have a distorted/wrong view of the Investment banking industry.
In 2020 listening to this..
I have one question...Does anyone know what % make it from associate to Vice President???
Thank you very much.
Such a top university yet no one answers his questions, ridiculous
+billy bob Looks like a lot of quiet, shy Asians
+Vex T It's very true. A lot of these kids focused too much on studying so they didn't even look at career options thoroughly. And a lot of them are only there because they have had better opportunities by having rich parents.
Wow, over a year.
Truth is nobody answers his questions because they're afraid of making a fool out of themselves. If you can't figure that out you've obviously never been in a class with smart people
If students are afraid to get things wrong in class or, even worse, think someone else is stupid for getting some thing wrong in class, then they're not smart at all!
It's a lot better to make your mistakes in a classroom than on the factory/trading floor!
'Hobby Job'
This guys is straight on target. It would be nice if such persons will replace the politicians.
15:08 WOW. Quote of the whole presentation.
Hey Anton . What is the best advice for a A level student who wants to be a trader at a hedge fund?
***** Get a private loan to start trading??? Are you nuts?
Sam K I used my offset mortgage, within 5 years mortgage free with cash invested in the portfolio today. But l invested post Lehmans crash so l got in after the big falls in the market.
brightbluesmurf I'm guessing an A level student won't have a mortgage.
Sam K True but for me it was a cheap loan. I occasionally use a loan to trade if i'm low on equity and see an opportunity. In the UK you can pay this back after a month with a small fee.
You heard the guy - start trading with your own money. Your grades and academic standing are meaningless in this world.
I consider a business card the one you put in the ATM. LOL facts
Anton believes the most important value is time. A numerical figure at the end of the month cannot compensate your time. And for the 20's, well, you wont even remember them once you're 30 and you've finally seen daylight for once haha. Alot of students have no idea of the job description at investment banks, and think most of their job is going to be prop trading. The truth hurts.
Spot on! Trading time for a promise that doesnt exist, then slowly brainwashed and indoctrinated into a corporate drone. The strategy of the Crony Capitalist Globalist employer is to make you believe in their ideology through servitude and indoctrination.
InstituteofTrading I applied for the mentoring in Florida! Hope i get accepted. Time to learn reality figures and real investing!
You know there is a cost to Mentoring. We dont give away free holidays and 3 months of life changing education for free :-) The reson for Due Diligence is because even if an applicant can afford it, we still get plenty of wierdo's and cooks applying and we reject them. So as long as you are serious and mentally together you will be accepted.
The institutions perfected the art of the squeeze.
Where (online) can I see the Hedge Fonds that are operatining in/from Frankfurt Germany? @instituteoftrading
thing is a lot of people graduating and getting a first job will be on a smaller salary or the same salary as a financial analyst in london, so tbh i don't see what he's trying to imply
Such an eye opener. :)
Why do you need to live in Central London? You can live around Shoreditch/London Bridge and just cycle in which would take you 5-10 minutes. I get that no one wants to be seen on a bicycle but you can get some cheap disguises, like a fake moustache and a hat, for a few quid.
lol
I feel enlightened
Honest, Direct, and speaks the truth. No rainbows and lollipops here!!!👍
I have two questions ,
1- how to deal with taxes do you have any advice
2- if your are trading stocks from an euro(or other currencies ) account and you buying stocks in dollars , do you think would be better to open an account in dollars and trade from that account or it doesn't matter
thanks
There are many ways to hedge against currency risk.
The fact that a stock is traded in a certain currency, doesn't mean that holding it will make you exposed to that currency (sometimes it does, if the company itself is holding a lot of cash in that currency). There are several big companies which are traded on multiple major exchanges in several different currencies at the same time, which should prove this point.
Anton kreil one of the only in this business that speaks the truth and doesent have a personal agenda.
I am currently an actuarial sciences student... I was seriously interested in going into the investment banking jobs market until a few months ago... when I realised that the educational standards for international students where I am... China... is appalling... so I decided to leave school, pursue my actuarial certification exams over a year...and end at ASA with the society of actuaries... at that point I was thinking of opening my own hedge fund... I've been a retail trader for about a year and a half now... I've made about 170k in that last year... ups and downs... a lot of time and money invested obviously... I was wondering if you had any advice for someone like me... if I'm making the right choice by leaving school and pursuing my certification because of the time and money invested in an actuarial degree just aren't worth it... hoping to hear from you... also... I'm very interested in registering for the itpm training program because obviously I would like to end up an institutional trader... thank you in advance...
Also... just btw I was looking at your website... and the services you're offering are extremely undervalued... maybe I'm looking at it according my marginal utility and not that of the market... but... it's EXTREMELY cheap...
I do believe that some of that sniffing I heard were student crying. Loan debt and no payoff!
15:18 This man is frighteningly sharp.
I like how he laughs at the future prospects of these students. Make no mistake folks, we are plundering off of future generations
he is not laughing at them. He is using humor and facts to highlight the reality for them and this is the very purpose of the seminar i.e. to help them NOT laugh at them.
So hows the hedge fund industry nowadays in 2019/20 ?
ya??
there are a decreasing number of hedge funds every year because of algorithms. Hedge funds are in a structural decline but its not as massive as IB and if you know how to code its an opportunity. People bring value to hedge funds when they can analyze data very well so you still have a job if you can analyze data and invest over a longer time horizon because a robot cant analyze data.
He's right about the 20s being the best years, my 20s was a grand slam. All the stuff I did is a driver of what I'm doing now, so ahead of my peers its not even fair.
I'm 18 living in Connecticut and have been trading for two years now on a friend's account, I made a return of 27% last year, I know that this was about the return of the DJIA, but compared to average industry standards, would this be sufficient when applying to a hedge fund to show them my track record?
Also, where would be the best place to start? I'm currently working in an internship at a publishing company both for money and experience working in an office. I'm in my first year of college with Business Administration as my major.
I spend a lot of my day monitoring my portfolio and learning what's going on in the markets, mostly domestic US. I always watch webcasts like this and even have them on in the background while I'm working because I want to learn as much as I can about the industry and opportunities within it. Thanks in advance, love this series.
hows it going for you now @SigSaeur ?
Does this include investment bankers?
did you watch the video?
u don't have to pay both us and uk tax if you declare greater center of interest under tax treaty
There's a disconnect between what Anton says and what, I guess, I perceive to be happening. Bank profits are up, big time. That can either be from cutting costs or by increasing revenues, and it's probably a combo of both. However, revenue from trading is up for these banks since the crisis. Maybe not in plain vanilla equities, but probably more from structured products and derivatives. Those businesses seem to be doing well, and so there are probably still some great opportunities in that space of the bank.
+Jalreal layoffs to keep up profits, goldman sachs just made headlines last week
Very interesting presentation and I'm not even remotely involved in any finance. But I know what it's like to have your post-College/Uni expectations crushed, lol. The education system has really failed everybody across the board, it seems
True. It's a reality check those students will probably eventually appreciate
So basically you're better off working in a McDonalds in Newcastle. than working in an investment bank in London. Their parents need whipping, poor kids...
Whilst I agree with the majority of what Anton says in this video, he is dead wrong 6:30 minutes in. Many people are able to live off even a 25k salary after tax comfortably in Central London.
I agree, he is talking hot air. I mean he even said you would only be able to save £1K a month out of a net salary of £8K if 'you are lucky'... I mean that's ridiculous. Who blows through £7K a month? Tells me he probably has poor money management...which makes me wonder how he managed to be so successful as a Trader?
Mega Chick look at his experience his journey , who he has worked for, then try listening to what he has said...again. he has lived it been there done that at the very top level, yet you say he is talking hot air.
....oh dear, you will go far....
If you include at least one holiday trip some where once a year. Dinner with friends or Gf and a shit car. There is not a lot of money left. He is trying to put some sense into all these student who dream of a lavish life style like the wolf on wall street. It is not true. I applaud him for making these student understand harsh reality of the industry.
ApplePotato whats the alternative?
_"Everyone who lives on 25k in central london is broke, I did it."_
He said £25k NET (not GROSS) so your monthly take home pay would be £2000, half of which would be spent on living costs leaving you with £1000 in disposable income each month!
To earn £25k after tax you'd need a salary of about £40k.
Legend.
Wow never knew about stock lock ups at a company.
A good trader might always be accounting for variable change in world relations, and might assume that their ability to make money working as a trader will come back around when the market becomes less volatile. The 80% downturn he speaks of could go the other way.. rapidly?
Volatility is where traders make money. Hard to make profits when there is no movement.
Same old story ...don't follow the sheeple , don't believe what others say and if you want results, DIY. Apprentice yourself for a time to someone who knows WTF they are doing. I think it would be better to work for someone for nothing just to learn what the story really is . Work a part time job, work like a dog and learn from a professional trader and have no education debt and lots of experience.
5:35 I woke up for 1yr at 4am to be on the trading West coast. Stop whining and get stuff done people.
Love it
Maybe I did not catch this correctly but my question is: if Investment Bankers are generally declining in quality, and hedge funds are better performers, then, why are Investment Banks still controlling the world's money?
This guy owns a hedge fund and is looking to recruit people for it, so he's biased.
However, it's also true that the best and brightest can make more money in hedge funds because they're less regulated than banks, so he visits the best universities to persuade them to work for him...
As for the IBs, like most corporations, they're hierarchical pyramids with most of the power concentrated in a few people's hands. It's these elites at the top who run things.
I think a lot of people here are young students drawing the wrong conclusions. Everything he says is true BUT it’s limited to trading. Investment bankers in m&a and industry groups are different from traders and there will always be fees for m&a transactions.
Pat Reilly haircut, like Gordon Gekko !!
Peasant level base pay is $65k base salary? That's pretty damn good if you ask me.
after taxes its around 50 and your rent is around 3k p/m if not more. Keep in mind that you also work not 40hours, but 60-70h pw
***** in that case, I see your point.
morelli tech PLUS bonuses.
These salaries after analyst are not that bad compared to the rest of possible jobs. Yeah they are shitty for living in the city but I think he's being a bit dramatic.
Anton is such a badass
Hell Yeah!
better than actual prison maybe work in a town witch is new york ore london
The more I listen to this presentation, the more I am grateful not having this job.
I quite enjoy living a simple life, earning ~ 36.000€ gross from active job in a year, being able to safe 60% of my income and having enough saved to live of my passive earnings before becoming 40.
Spending >70h a week as described in an office is too much life time and quality IMO I pay for some more bugs actively a year.
What do you do?
8300 pounds a month after tax = a basic life
I got paid 20 grand and worked in central London.
Depending on what a standard life means to him.... But for most people 40k living in London (not central) is very good money. My parents make a lot less than that and still have a very good life. This being the reason why most people apply for investment banks, also there are more positions offered than in a hedge funds. But i agree hedge funds are the best option. I hope i get a position this year.
Your parents mortgage and rents are off rates from 10-20 years ago....
+Anon Nymous 40k for 70 hour weeks is shoddy.
If the governments taken it, it doesn’t matter what it’s called, it’s a tax - powerful reminder
well, this is depressing
Thank you sir, i hope to see your video ealier. i am 30 now, if i see this in 24, i maybe do better :)
Man saying £50k basic life and we are 2020. How?🤔
What people need to realize is that this guy is here recruiting people for the class that he teaches. If you couldn't still make good money in Ibanking nobody would be there. I'm not saying this as some random person looking in from the outside but as someone looking out from the inside
jake3189 did you seriously not pay attention to anything he said in part 2?
Humble, awesome guy!
Can you live in central London on 50k? Naaaaooooooooooooo!!!!!!!
It's not about faith in our actions (verbs) that make us righteous and brings us to heaven.,
It's about faith on God son jesus (the noun). All sins washed on the cross as a gift from God who loves you.
John 3
15 That whosoever believeth in him should not perish, but have eternal life.
16 For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life.
17 For God sent not his Son into the world to condemn the world; but that the world through him might be saved.
18 He that believeth on him is not condemned: but he that believeth not is condemned already,
Anton is one thirsty boy
pretty demotivating for those students
Seems almost impossible to make money these days.
these kids nowadays have 0m brains 0 imagination for most part, the industry they are going to is dying, its heyday where the late 80s to 07... the industry that is going to boom now is engineering and agriculture, for example hemp farming, we have 9 billion ppl on the planet and no farmers food is going to be a investment, also seed companies there is also other markets and businesses like 3 d graphics that are ok but for most part the easy money is over this is the age of deflation, or inflation it will be crisis and extremes high unemployment etc, we are going to pick up where the later 70s left us, because it was cheap credit that saved the west and upcoming nations like brazil china russia that entered the game and took more debt, so or u are a good trader witch 90% arent and loose all their cash or u better find another line work, might not even find one.
Wow, if all of this is true, this is seriously disillusioning about investment banking!
What is wrong with 40k?? I guess 40k is chump change for this guy.
I feel like some of the guy's in the hedge fund area of this room want him to shut up, as to prevent more competition.
Every single thing he has said has come true and a million times worse.
If this guy had to do this very presentation along similar themes in 2023, he would highly recommend all these aspiring "bankers" immideately hoping the Aldi or Morrisons staff roster.
Or, learn the art of money making via trades and do it yourself with your own money.
Repeat, every single thing he has said has come true and worse.
?yeh kids 8000 a month net and 50 I on top at end of the year is peanuts .....might as well join the precariat and make minimum wage on zero hours.....srsrly what is this guy on,doesn't he know that most of the country make less than half that a month and you can forget about a 50k Christmas treat.this guy is a joke
just because you dont know the reality and dont udnerstand what it slike for people to live in Central London, doesnt mean he is not right.
+InstituteofTrading even in a 3000pm one bed flat in central London,you would still have 5000 spending money,And enough to put a deposit down each year as a end of year bonus.this way more than what Doctors earn ;and they actually do something useful for society.
are you somehow magically dodging the 40% tax and 11% national insurance (40+11)=51% somehow? Council Tax? Electricity, Gas, Water, Food, Transport too and from work. Clothes? Weekend entertainment? The people who work at these banks have to be in the office at 6.30am and leave around 6/7pm. If they are in production role, theyre are likely working back home till 10/11pm. then wake up at 5pm to go back to the office. They have no choice but to livein Central London. So you need to understand this is not earning GBP8,000 after tax in Sunderland, where you would actually be quite rich (upper middle class) if you did. That pay cheque means you eand up with probably GBP1,000 in savings per month in Central London. And thats if you lived like a monk and lived in a shithole. Then it would take you 5-7 years to be able to afford a deposit to put down on an apartment to buy on a mortgage, then congrats. You just signed up for another 25 years of slavery. You are looking at the world too simplistically and not actually digging into the detail and the reality. What is left in your pocket is the most important number NOT the vanity of the gross number.
+InstituteofTrading the 8000 is net:3000 will get you a nice 1 bed flat (yes even in central london):other cost (food+bills etc) 1500....you are still left with 3500 discretionary and a bonus at the end of the year which far surpasses what people would be able to save up.....1000 pound savings is incredibly good compared to most ppl in the country.you don't even need to save because you get an end of year bonus of 50k.after two years you can put down a deposit for something in zone 2 and definitely zone 3.You will not find renumeration like this in any other industry (bar hedge funds/PE.....even top level solicitors don't get end of year bonuses like that).in London the avg is now 40k a year (with zero bonuses ) which is 2500 a month;half of Londoners live on less than this,whilst having to pay same rents and work just as long.some perspective please
OK so you're slowly slowly moving away from the point of the video here. Which is to prove that for a graduate, the ridiculousness of the difference between the perception of the money a graduate will earn in a production role at an investment bank as for example a Trader, Vs the reality. So lets use your numbers and assume the grad gets to save GBP1,500 per month. Which is laughable by the way if you have any hopes of buying a home in Central London. Then lets use your 50K bonus (which is false by the way as the numbers in the presentation are completely accurate). But lets use your numbers anyway and live in fantasy. BUT i'll give you the ground on it and lets work it out. By end year 1 the grad will have saved GBP42,500 - basically enough to pay off their student loan. GBP - the 50K bonus you talk of (which no grad gets by the way at year end 1 or 2 or even perhaps 3) will be taxed at 51% by the way. (40%tax+11% NI). Then it will take them 4-5 years to save a deposit for a DECENT apartment. Not shitty, (because i assume the dream of a grad when taking a "dream job" is not to dream of living in shithole), so a DECENT, not good either just a standard boring 2 bed DECENT apartment. Then after 5-6 years of herrendous graft they have their reward. a DECENT aprtment (not owned) just mortgaged. So another 25 years of slavery to pay it off. Anyway. None of what i just wroter means anything. I was just humouring you by agreeing with your numbers. no grad at end of year 1, 2 or 3 will EVER be paid a bonus of GBP50,000 + like in the presentation at an investment bank. Additionally, in this case if we assume your numbers which is really genuinely the very best best best case scenario i.e. being able to save a clean GBP1,500 a month, just do what we did in the presentation. Divide the GBP1,500 per month by the amount of hours they worked to make that. So were now back to the central message and point of the video here. It is in the best best best case scenario on an opportunity cost basis not worth doing and is tantamount to slavery. Just a different form of slavery. One more point. 5% of grads that join make it to year 3. FACT! So no more replies from me. We wont entertain non logical non fact checked discussion. The numbers are real and it makes no sense for smart grads to sign up for this shit. Goodbye.