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Message: [QUOTE="Crusty, post: 1184494, member: 2265"] So, you are a veteran trader at a second-tier Wall Street dealer. Your boss jumps to a job with Goldman and takes all the senior traders and a few of the best salespeople with him. Just for good measure he also takes a couple of the best quants and analysts. The division boss promotes you months before bonuses are paid with no budget to do buy outs to match bonuses new hires will lose if they jump firms at this point. Your salary and bonus structure is at the bottom of your peer group. Your MBA class is about to implode and go elsewhere. All your friends warn you the job is a loser and mission impossible but you always wanted to run a trading department. What do you do? You take the challenge because you may not get another chance. Since you are a veteran of 20 years you call traders you have worked with in the past and whom you respect. Some jump at the chance to work with you but others have good jobs and are not going to make a lateral move. So you give one the job of head risk manager, which he/she has never done before but was the dream job. Oh yes, your boss informs you that he wants to ramp up risk positions to try and get into a higher underwriting bracket. You take your cobbled together unit and in the first year manage to do pretty well. Moral in your you group is pretty high and things are looking as if you might pull off this miracle. Then it happens. You hold a big party to reward your group and everyone gorges on bad shellfish and a third of the senior staff come down with hepatitis. By the time they are able to recover and come back to work a volatile market has overwhelmed the second string and the year's profits are blown. No bonuses and the entire operation is up for grabs. Everyone wants your butt. Its not fair, but this is Wall Street and what have you done lately? Scott Shafer calls you and says. "Let me buy you a drink my friend." [/QUOTE]

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