Should i stay, or go
Hi, everyone so recently I was offered a job as a commodities trader for a HK firm. I managed to pass all 3 rounds of test, however the working hours is insane. I mean like 6am to 1am steady state.
The manager in charge of the trader told me this is a high intensity job with a very steep learning curve.
I am expected to understand complex financial models and global politics fast.execute trade quick and with precision. And be contactable at all hours
The base salary is 3.8x what I am drawing right now which is 3.8k. My current work place is quite slow, people here are nice, the business is very straightforward nothing complex.
I hit the jackpot for retirement job. My current WLB is the best 8:30-5:30.
However, the problem now is I am earning less than median income(4.5k-fresh grad) for my engineering degree.
I kinda enjoy what my work environment right now,life is slow, things are easy but. The pay sucks. I am a single guy with monthly expenditure not exceeding $800. No GF(reason: too ugly).
Should I leave? I am in my mid twenties
Netizens’ comments
- While 14.4k looks very attractive on paper, let’s do an actual breakdown of your new hourly pay.
Assuming 5-day work week (Mon-Fri):
-6am to 1am = 19h minus 1h for lunch = 18h of work a day
-5 days = 18 * 5 = 90h work week
-Anything above 44h a week is considered overtime (1.5x pay), so means you’re working 44h regular hours and 46h OT hours
-As OT pay is calculated at 1.5x, 46h OT is equivalent to 69h (nice.) of regular hours
-That brings your total regular hours worked a week to 44 + 69 = 113h. Monthly that would be 113 * 4 = 452h a month
-That puts your hourly rate at $14,400 / 452 = $31.90/hour
-With that hourly rate, using the average 40-hour work week, that would be a monthly salary comparable to $31.90 * 40 * 4 = $5,104
Do what you will with these numbers, but for the amount of hours you’re putting in, it actually isn’t that much an increment from your existing role. Not to mention the toll on your physical and mental health. - You will go crazy within MONTHS working 6am – 1am, burnout and eventually resign. It is not manageable. There is a reason they are willing to pay you that much.
What’s wrong with a slow paced job that you enjoy? 3.8k pay is not that bad, like you said it’s slow, people are nice, it’s chill, you get to have extra time to watch netflix, workout, go out, have hobbies or do things in your life.
Life is much more about money – please enjoy all other aspects of it! - I interviewed at a similar firm before. Old school commodities trading firms are known for their such toxic culture.
My interviewer straight up said, “are you ok if i yell at & insult you?”
“Are you ok with leaving office at 8pm daily and then rushing home to monitor the positions til midnight?”
More modern firms adhere to “follow the sun” model whereby each region takes over once their market hours commence. Eg London takes over the trading book once European markets open and SG office can rest. Likewise after European close, New York takes over.
China commodity firms tend to wanna trade 24/7 markets despite situating all employees in 1 single office. Hence the ridiculous hours.
Not worth it. I urge you to turn it down.