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How much money did you make in 2016? (1 Viewer)

How much money did you make in 2016?

  • 0 - $10,000

    Votes: 13 2.6%

  • $10,001 - $25,000

    Votes: 8 1.6%

  • $25,001 - $50,000

    Votes: 29 5.8%

  • $50,001 - $75,000

    Votes: 60 12.1%

  • $75,001 - $100,000

    Votes: 80 16.1%

  • $100,001 - $150,000

    Votes: 131 26.4%

  • $150,001 - $200,000

    Votes: 72 14.5%

  • $200,001 - $250,000

    Votes: 36 7.3%

  • $250,001 - $300,000

    Votes: 9 1.8%

  • $300,001 - $500,000

    Votes: 27 5.4%

  • $500,001 - $750,000

    Votes: 6 1.2%

  • $750,001 - $1 million

    Votes: 1 0.2%

  • $1 million - 2 million

    Votes: 7 1.4%

  • $2 million - 5 million

    Votes: 1 0.2%

  • $5 million +

    Votes: 16 3.2%
  • Total voters
    496
Otis

Otis

Footballguy
Anonymous pole.  Got to wondering about this after seeing some of the recent threads about income inequality.  Including full year income and any expected bonus amounts, 401 matching, stock options, goodie bags, etc.  I'm taking your individual income, not yours plus the incomes of the 12 people who live in your basement.  TIA

2016 income: whatcha got?

 
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Otis said:
YOU.  Individual.  The handful of you louts who have part time paper routes/golf habits while your wives go out and bring home megabucks? We can deal with yous later.  
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You aren't a true FBG if you aren't making enough to let your wife stay at home.

 
This is like the height/weight poal where everyone said they were 6'3" and 200 lbs of sinewy muscle :lol:

 
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Unlike the average FBG, I don't have the rest of the month off, so its too early to say what my income was for 2016. 

 
I'd love to know what the $3-5M dudes do for a living.  Can you send in an alias to tell us or something?

Hedge fund/investment banker dudes?

 
Otis said:
I'd love to know what the $3-5M dudes do for a living.  Can you send in an alias to tell us or something?

Hedge fund/investment banker dudes?
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Probably GrandpaRox and MaxThreshold who make $20k and think that now Trump is going to be president that they will make $5M

 
We've always said FBGs make six figures and have supermodel wives. Generally looks about right. 

 
Otis said:
I'd love to know what the $3-5M dudes do for a living.  Can you send in an alias to tell us or something?

Hedge fund/investment banker dudes?
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I honestly thought one was you and the other was Chet. I have no idea how much money NYCers make.  Shows how much I know.

 
ragincajun said:
Essentially trading currencies, buy low, sell high etc.

http://www.investopedia.com/university/forexmarket/
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After watching Trading last night (Solid flick, cliffs notes: Bankers in Ireland work for a firm that folds, need to make money to maintain lifestyle. Colleague drives Audi into a tree when money runs out, gives way to idea to start a DarkNet site where you sell all your assets and fight another person to the death in lieu of committing suicide, site takes 10%)., watched Rogue Traders with Ewan McGregor. Dramatization of Nick Leeson, who bankrupted Barings trading forex in Singapore on Barings money when it should've only been client money with 0 checks and balances. Also a solid flick, but cautionary tale: Tread real lightly. I know a guy IRL who lost the better part of an inheritance trading/gambling on the Yen. Started a marketing company and is killing now, but that was an OMG, that happened moment in time.

 
Otis said:
I'd love to know what the $3-5M dudes do for a living.  Can you send in an alias to tell us or something?

Hedge fund/investment banker dudes?
Click to expand...
I figure Chet hits 7 figures occasionally. Probably investment banking, money managers etc. You know, since those types add so much value to these transactions. 

 
Dedfin said:
I honestly thought one was you and the other was Chet. I have no idea how much money NYCers make.  Shows how much I know.
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I've got Otis pegged around 200-300k/year plus some kinda bonus structure. Maybe 500-650k in a real good year. 

 
mquinnjr said:
After watching Trading last night (Solid flick, cliffs notes: Bankers in Ireland work for a firm that folds, need to make money to maintain lifestyle. Colleague drives Audi into a tree when money runs out, gives way to idea to start a DarkNet site where you sell all your assets and fight another person to the death in lieu of committing suicide, site takes 10%)., watched Rogue Traders with Ewan McGregor. Dramatization of Nick Leeson, who bankrupted Barings trading forex in Singapore on Barings money when it should've only been client money with 0 checks and balances. Also a solid flick, but cautionary tale: Tread real lightly. I know a guy IRL who lost the better part of an inheritance trading/gambling on the Yen. Started a marketing company and is killing now, but that was an OMG, that happened moment in time.
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I am a fairly risk adverse guy.  I would start small potatoes me thinks.

 
Hedge fund guys - generally speaking - won't know their 2016 comp until year end. Now, that's for guys who aren't General Partners or Managing Members or the Portfolio Managers who know their P&L real time and have a contract on what percentage of profits they will retain. 

Most hedge funds charge 1%-2% annually as a management fee. Those fees typically go towards legal, audit, accounting, keeping the lights on.  Then 20% performance fee IF you make money.  Down for the year, no performance fee and you must make up the loss before you can ever charge that performance fee.  

There is also staff to pay for... analysts, secretaries, IT, etc so there is a lot of burden on the fund managers to make a profit and thus, they tend to retain the most.  And they should, it's an enormous burden and a hard ####### job.  Managing your own money is one thing; quite another to manage other people's money.  Stress is a killer and you are paid to be right RIGHT away.  

Raising capital is damned hard.  Performance will only get you so far.  You have to check all the boxes of the allocators who are just dying to find a reason to pass on you.  Competition is fierce. Most investors won't even look at you if you are smaller than $100 Million (and I'm being generous here).  But how do you grow to that size so investors will look at you?  Catch .22

Hedge Fund guys get paid a lot only if they do well and that's fine because the job is much harder than most will ever know and more managers fail by an enormous margin than make it. 

 
I can see that I'm dirt poor compared to most on here. I wonder if it's too late to get an EBT card before Obama leaves the White House?

 
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