So I took a pause because it has been such a shitty few weeks/months in the industry.In fact, I need to make some calls today because I don’t even know who has been fired since my last check-in with my Wall Street contacts.
Shitty ‘Fired’ Story: Turns out that one of the guys at work was canned last month and he went out with a BANG! Firstly, nobody noticed he was gone until a few days ago because he quietly got fired by his (close) friend at the office. Second, the fact that nobody noticed shows that this practice is too common nowadays and that the guy sucked at his job. No clients=No job!
Funny thing is that the guy decided to blow $10,000 on his client account before leaving the firm. In fact, he just submitted his bill this week to his (close) friend and people couldn’t help but laugh at the matter. What an asshole move on his part-but maybe I would have done the same thing? Regardless, this scenario is common on Wall Street. You f me over, I f you over.
I guess another jobless broker hits the streets. Makes me wonder, what are these kids doing now? They were get paid shit ton of $$$$ to play sitter for the guys at big banks- to entertain them in hopes of getting business via commissions the next day/week/month/year BUT now what? No other job pays this much right now. In fact, the concept of making less than a few grand a day/week/month was not even a possibility a few years ago on Wall Street- but today, it is a reality.