U.S. Cities  

Go Back   City-Data Forum > U.S. Forums > New York > New York City
Register Blogs Search Today's Posts Mark Forums Read

Welcome to City-Data.com forum! Make sure to register - it's free and very quick! You have to register before you can post and participate in our discussions with 700,000 other registered members. User profiles and some forums can only be seen by registered members. After you create your free account you will be able to customize many options, you will have the full access to over 15,000 posts/day about local topics and you will see fewer ads.

Get a detailed profile
Search Forums  (Advanced)
Business Search - 14 Million verified businesses
Search for:  near: 
Reply


 
Old 04-18-2008, 02:25 PM
Member
 
Join Date: Apr 2008
Location: Albany
45 posts, read 37,989 times
Reputation: 19
Jimmyboger08 is on a distinguished road
Default Jobs in NYC

What do most of the wealthy/affluent who live in manhattan (UES)...or other rich areas, do for a living?

If some nice apts are 6,000-12,000 a month how so many people afford them...

A medium-grade stock brocker on wall street makes about 100K and that is not really enough...

Are they currency traders?
I know most have to be involved in business

what do they do ...
Reply With Quote Quick reply to this message

 
Old 04-18-2008, 02:43 PM
Not a member
 
Join Date: Mar 2008
Location: 'Burbs of Manhattan
468 posts, read 405,901 times
Reputation: 99
metropolistraffic will become famous soon enoughmetropolistraffic will become famous soon enough
Investment Bankers, Hedge Fund Managers, CFOs, Doctors, Surgeons, CEOs, CIOs, etcetcetc.

The Zarins, from that TV show "Real housewives of NYC" own their own fabric company.

Plenty of jobs, really.

And, Wall Street is hugeee on bonuses. So, if that person is making 100k a year, he can be getting a 700k christmas bonus. Which can get him a 12,000 a month apartment. Just food for thought. (:
Reply With Quote Quick reply to this message
 
Old 04-18-2008, 02:46 PM
Member
 
Join Date: Apr 2008
Location: Albany
45 posts, read 37,989 times
Reputation: 19
Jimmyboger08 is on a distinguished road
how do you become a hedge/mutual fund manager.....

who gives a bonus 7x your yearly salary and why
Reply With Quote Quick reply to this message
 
Old 04-18-2008, 02:54 PM
Not a member
 
Join Date: Mar 2008
Location: 'Burbs of Manhattan
468 posts, read 405,901 times
Reputation: 99
metropolistraffic will become famous soon enoughmetropolistraffic will become famous soon enough
Why give such high bonuses? Success and achievement.

Quote:
The average 2007 bonus was $344,683, down from $350,349 in 2006.
Second-year associates and senior vice presidents saw the largest increase in average bonuses from 2006, while second-year vice presidents had the biggest decrease in average bonuses. The survey included answers from first-, second- and third-year associates, as well as first-, second- and third-year vice presidents and senior vice presidents.
According to the survey, among associates, those working in industry coverage received the highest average bonus of $269,399, and those working in leveraged finance/financial sponsors received the lowest average bonus of $215,925. However, senior vice presidents working in leveraged finance/ financial sponsors received the highest average bonus of $950,000.
Reply With Quote Quick reply to this message
 
Old 04-18-2008, 03:01 PM
Moderator
 
Join Date: Sep 2006
6,156 posts, read 5,110,472 times
Reputation: 1894
Viralmd has a brilliant future
Viralmd has a brilliant futureViralmd has a brilliant future
The vast majority of people there OWN their apartments (or shares in the co-op). That makes monthly costs much, MUCH lower. They purchase the apartments with the bonuses they get (and, given the risks they take, they do earn them) and then, with no mortgage, only have the monthly maintenance costs or common charges. That's how they afford it. They don't rent.
Reply With Quote Quick reply to this message
 
Old 04-18-2008, 09:14 PM
Senior Member
 
Join Date: Mar 2008
2,745 posts, read 1,242,229 times
Reputation: 355
cjma79 is just really nicecjma79 is just really nicecjma79 is just really nicecjma79 is just really nicecjma79 is just really nicecjma79 is just really nicecjma79 is just really nicecjma79 is just really nice
Quote:
Originally Posted by metropolistraffic View Post
Investment Bankers, Hedge Fund Managers, CFOs, Doctors, Surgeons, CEOs, CIOs, etcetcetc.

The Zarins, from that TV show "Real housewives of NYC" own their own fabric company.

Plenty of jobs, really.
And Lawyers, CPA (Same as CFO, and almost the same as hedge fund manager)
Also the number 1, Real Estate owners.
75% of today millionaires are millionairse because of real estate.
-----------------------------------------------------------------
Jimmyboger08:
If you want to be a hedge Fund Manager, start by getting a BS or BA in accounting/finance.
Here are job offers in NYC, with this post you can have an idea of pay and requirements
copy/paste:

Looking for a premier position within a major hedge fund? If you are searching for a new professional challenge, you have just found it. As the Hedge Fund Controller, you will manage the staff and processes that support a sophisticated and rapidly growing suite of trading strategies in markets around the world. You must have exceptional leadership skills and be able to motivate and inspire your group. This is a multifaceted position, requiring a keen attention to detail as well as the ability to meet tight deadlines. Total compensation up to 700K!
Company Description: Major hedge fund

Related Careerbuilder Keywords: Hedge Fund, Fund, Fund of Funds, Hedge Fund Controller, Controller, Public Accounting, Public Accountant, Accountant, Private Accounting, Private Accountant, Accounting, Accountant, Portfolio Manager, Portfolio Management




Required Skills


Job Description Responsibilities include:
  • Interacting regularly with senior management, portfolio managers, and proprietary trading professionals
  • Handling daily accounting matters, including trade settlement, swap resets and corporate actions
  • Preparing portfolio balance sheets and income statements
  • Working on profit-and-loss reconciliation and analysis
  • Providing security price testing
  • Supervising a large group
Required Skills:

12 years of public and/or private accounting experience
Previous supervisory experience
Broad product knowledge


Related Careerbuilder Keywords: Hedge Fund, Fund, Fund of Funds, Hedge Fund Controller, Controller,
Public Accounting, Public Accountant, Accountant, Private Accounting, Private Accountant, Accounting, Accountant
-------------------------------------------------
Hedge Fund Accounting Manager
Company: International Fund Services






[SIZE=4]Description
[/SIZE]
International Fund Services, a State Street Company,is the premier provider of accounting and administration services for the hedge fund industry. Our offices are located in midtown Manhattan, Princeton, NJ and Dublin, Ireland. Please feel free to check out our website at www.imsi.com

We are looking for a bright, enthusiastic and hard working individual to complement our Fund Accounting team in New York.

Job Functions:

• Reviewing work of the fund accounting staff
• Ensuring that all relevant policies and controls are adhered to, daily
• Responsibility for client relationships
• Data reconciliation, exception reporting, and financial statements
• Sign-off on all monthly or dealing date NAVs and related financial statements
• Participate in management decisions
• Report to the Director of Fund Accounting



[SIZE=4]Requirements
[/SIZE]
• Bachelor’s degree in Accounting
• 10 years of work experience (3-5 must be relevant to hedge fund accounting)
• Working knowledge of excel
• Exposure to audits, allocations, pricing, corporate action, and fee calculation
• 2+ years of product knowledge
• Derivatives knowledge a plus
• CPA is a plus

------------------------------------------

Hedge Fund of Funds Analyst
Company: Helen Akullian Associates Inc.






[SIZE=4]Description
[/SIZE]
MANAGER SELECTION Ideally seeking a Fund of Funds Analyst with Manager Selection who has Credit in their background.

Hedge Fund of Funds Analyst

Seeking an experienced, senior level Hedge Fund of Funds Research Analyst to join its team in identifying, analyzing and monitoring alternative investment vehicles (hedge fund of funds with emphasis in market neutral equity and global macro manager research and manager selection). The position will report to the group's Executive Director of Research.

Responsibilities will include:


Conduct quantitative and qualitative due diligence
Interview hedge fund managers
Convey strategies to investment committee


Research multi strategies


Research alternative investment vehicles hedge funds for inclusion in bank's global wealth portfolio

Ensure investment funds be available for client allocations once they have completed the approval process.


Monitoring the approved vehicles on an on-going basis to ensure that they remain "best of breed" vehicles.



Research based portfolio management in a fund of funds environment.


The successful candidate will likely have knowledge and actual experience in alternative investments.


An advanced degree is preferred, and certification as a CFA, CPA or CAIA is a desirable attribute.
Reply With Quote Quick reply to this message
 
Old 04-18-2008, 09:31 PM
Member
 
Join Date: Mar 2008
96 posts, read 85,302 times
Reputation: 20
slowloris is on a distinguished road
Just be prepared to work the longest hours you've ever worked in your life. Not to mention the private banking/hedge fund business isn't going to get much better with the current financial crisis. I know a lot of people who don't even care about the money because they hate their lives so much. I'd see if you can get a taste of what it's like, before you go head over heels into something.
Reply With Quote Quick reply to this message
 
Old 04-18-2008, 09:48 PM
Not a member
 
Join Date: Mar 2008
Location: 'Burbs of Manhattan
468 posts, read 405,901 times
Reputation: 99
metropolistraffic will become famous soon enoughmetropolistraffic will become famous soon enough
Mm. Accounting.

Haha. What I'm going for. (:
Reply With Quote Quick reply to this message
 
Old 04-18-2008, 10:19 PM
Senior Member
 
Join Date: Mar 2008
2,745 posts, read 1,242,229 times
Reputation: 355
cjma79 is just really nicecjma79 is just really nicecjma79 is just really nicecjma79 is just really nicecjma79 is just really nicecjma79 is just really nicecjma79 is just really nicecjma79 is just really nice
Mm in accounting???
Master in management?
Are you going to take the CPA exam?
Reply With Quote Quick reply to this message
 
Old 04-18-2008, 10:47 PM
Not a member
 
Join Date: Mar 2008
Location: 'Burbs of Manhattan
468 posts, read 405,901 times
Reputation: 99
metropolistraffic will become famous soon enoughmetropolistraffic will become famous soon enough
No, Mm is just a sound.

I am going to be trying for my masters in business management and accounting.

Granted, it's going to be the longest 4/5 years of my life.. but, ohwell. I'm up for it.

Will I take the CPA exam? Probably.
I would -love-to become a CFO. Everything about that job seems fun.
But, that's with alot of experience. xD
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.



Reply


Quick Reply
Message:

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Similar Threads


Go Back   City-Data Forum > U.S. Forums > New York > New York City

All times are GMT -6. The time now is 03:13 AM.

Copyright © 2005-2009, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13 - Top