Comments on: Want to Get Paid Like a Trader? http://www.thewriterscoin.com/2009/04/14/get-paid-like-a-trader/ Personal Finance, Writing, and Blogging Fri, 12 Mar 2010 13:22:34 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Carnival of Twenty Something Finances - Baseball by the Numbers Edition | StretchyDollar http://www.thewriterscoin.com/2009/04/14/get-paid-like-a-trader/comment-page-1/#comment-9561 Carnival of Twenty Something Finances - Baseball by the Numbers Edition | StretchyDollar Mon, 20 Apr 2009 15:28:46 +0000 http://www.thewriterscoin.com/?p=1830#comment-9561 [...] Coin presents Want to Get Paid Like a Trader? posted at The Writer’s Coin, saying, “Would you want to get paid based on a formula [...] [...] Coin presents Want to Get Paid Like a Trader? posted at The Writer’s Coin, saying, “Would you want to get paid based on a formula [...]

]]> By: Real Time Internship News & Information Online. http://www.thewriterscoin.com/2009/04/14/get-paid-like-a-trader/comment-page-1/#comment-9547 Real Time Internship News & Information Online. Mon, 20 Apr 2009 12:25:49 +0000 http://www.thewriterscoin.com/?p=1830#comment-9547 <strong>Carnival of Internships, Careers & Employment #22…Online Now!...</strong> Welcome To The 22nd EVER Carnival of Internships, Careers, & Employment! For April 20th, 2009 *Blogs presented according to subject* Careers Patricia Turner presents 25 Bad Bosses posted at Top Online Engineering Degree. Sarah Scrafford present... Carnival of Internships, Careers & Employment #22…Online Now!…

Welcome To The 22nd EVER Carnival of Internships, Careers, & Employment!
For April 20th, 2009

*Blogs presented according to subject*
Careers
Patricia Turner presents 25 Bad Bosses posted at Top Online Engineering Degree.
Sarah Scrafford present…

]]> By: Carnival of Financial Planning - 4P Edition! http://www.thewriterscoin.com/2009/04/14/get-paid-like-a-trader/comment-page-1/#comment-9320 Carnival of Financial Planning - 4P Edition! Sat, 18 Apr 2009 03:22:57 +0000 http://www.thewriterscoin.com/?p=1830#comment-9320 [...] Coin presents Want to Get Paid Like a Trader? posted at The Writer’s Coin, saying, “Would you want to get paid based on a formula [...] [...] Coin presents Want to Get Paid Like a Trader? posted at The Writer’s Coin, saying, “Would you want to get paid based on a formula [...]

]]> By: Roger http://www.thewriterscoin.com/2009/04/14/get-paid-like-a-trader/comment-page-1/#comment-9242 Roger Fri, 17 Apr 2009 05:54:21 +0000 http://www.thewriterscoin.com/?p=1830#comment-9242 It's an interesting concept, but I think it would fall apart in many positions. For example, I was a QC analyst in my last full time position, and it would be hard to come up with a way to properly measure our activity. The number of samples that were tested depends on how many were produced, speed with which those tests were completed was sometimes out of our control, and the quality of the samples (the ratio of passes to fails) didn't depend on our actions. (To say nothing of the fact that basing compensation on the quality of the samples received would promote fudging of the numbers.) I can't speak about too many other positions, but I imagine that similar problems would arise with other job situations. It’s an interesting concept, but I think it would fall apart in many positions. For example, I was a QC analyst in my last full time position, and it would be hard to come up with a way to properly measure our activity. The number of samples that were tested depends on how many were produced, speed with which those tests were completed was sometimes out of our control, and the quality of the samples (the ratio of passes to fails) didn’t depend on our actions. (To say nothing of the fact that basing compensation on the quality of the samples received would promote fudging of the numbers.) I can’t speak about too many other positions, but I imagine that similar problems would arise with other job situations.

]]> By: Nut http://www.thewriterscoin.com/2009/04/14/get-paid-like-a-trader/comment-page-1/#comment-9049 Nut Tue, 14 Apr 2009 19:04:11 +0000 http://www.thewriterscoin.com/?p=1830#comment-9049 I wonder what a CEO of a trading company would say to all this. Maybe something like "Hey, we all wind up making more money so that's why this works for us." But this goes back to the whole "trading is all about making money," where most other jobs have a much more indirect relationship to money. I wonder what a CEO of a trading company would say to all this. Maybe something like “Hey, we all wind up making more money so that’s why this works for us.” But this goes back to the whole “trading is all about making money,” where most other jobs have a much more indirect relationship to money.

]]> By: The Office Newb http://www.thewriterscoin.com/2009/04/14/get-paid-like-a-trader/comment-page-1/#comment-9040 The Office Newb Tue, 14 Apr 2009 16:30:31 +0000 http://www.thewriterscoin.com/?p=1830#comment-9040 What would be needed to implement a system like the one you propose would be not only strictly defined goals (i.e. I will write x amount of content this quarter) but also strictly defined job duties so that it would be clear when someone goes "above and beyond." However, I don't think most companies or managers really have this level of detail for every member of their staff. I personally worked for over a year in a "management-type" job (yes, the title was intentionally vague) where I had no job description and therefore could not really ask for more pay since it was impossible to demonstrate how I went "above and beyond" my normal duties since technically I didn't have any formal duties. What would be needed to implement a system like the one you propose would be not only strictly defined goals (i.e. I will write x amount of content this quarter) but also strictly defined job duties so that it would be clear when someone goes “above and beyond.”

However, I don’t think most companies or managers really have this level of detail for every member of their staff. I personally worked for over a year in a “management-type” job (yes, the title was intentionally vague) where I had no job description and therefore could not really ask for more pay since it was impossible to demonstrate how I went “above and beyond” my normal duties since technically I didn’t have any formal duties.

]]> By: ObliviousInvestor.com http://www.thewriterscoin.com/2009/04/14/get-paid-like-a-trader/comment-page-1/#comment-9027 ObliviousInvestor.com Tue, 14 Apr 2009 13:28:50 +0000 http://www.thewriterscoin.com/?p=1830#comment-9027 This is one of the primary reasons I became self-employed (after a couple years working as a tax accountant). There's something wonderful about knowing that how hard/smart you work will have a direct impact upon your income. This is one of the primary reasons I became self-employed (after a couple years working as a tax accountant). There’s something wonderful about knowing that how hard/smart you work will have a direct impact upon your income.

]]> By: John Forman http://www.thewriterscoin.com/2009/04/14/get-paid-like-a-trader/comment-page-1/#comment-9026 John Forman Tue, 14 Apr 2009 13:24:40 +0000 http://www.thewriterscoin.com/?p=1830#comment-9026 The problem with Wall Street trading model type compensation, which is heavily based on performance is, as we have seen the last couple of years, that it opens the door to excessive risk taking. It's the lack of a comparable downside to the upside. I've not heard of any compensation scheme (so far) which would claw back from the trader if the individual lost the company money. So long as the reward calculation is skewed to the upside, there will be the incentive to take excessive risk in the pursuit of larger profits. The problem with Wall Street trading model type compensation, which is heavily based on performance is, as we have seen the last couple of years, that it opens the door to excessive risk taking. It’s the lack of a comparable downside to the upside. I’ve not heard of any compensation scheme (so far) which would claw back from the trader if the individual lost the company money. So long as the reward calculation is skewed to the upside, there will be the incentive to take excessive risk in the pursuit of larger profits.

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