If you work for a publicly listed company, and the company is doing well, max out your contribution for ESOPs, and negotiate hard for RSUs.
People who joined with me didn't even care about PYPL stock and didn't use 10% salary contribution to ESOPs.
For the first 3 years until 2017, PYPL was in a range of $30-45 (incl when it was eBay).
I maxed out my 10% contribution and also got RSUs.
My mistake was selling too early.
Those who maxed out, and held on, got an average price of $31-33. Look at PYPL today.
This is the case for FB, Amazon, Twitter, Uber employees also.
I advised a friend who works at Salesforce to load up on Uber, Salesforce, Amazon, Google, Disney, and Bitcoin (when it was <6k) in march lows.
Also advised friends in US to buy LEAPS.
Nobody listened. 😅
Uber was trading at 18 rupees. They thought with covid uncertainty, Uber's future is doomed since cab travel is not going to be as prevalent with lockdowns and sanitary concerns.
Today, all these stocks have rebounded.
If you work for such companies with wide moats, you're making a mistake not loading up on as much of your company shares as possible, especially if you're getting them cheaper.
So, next time you join such a company, don't forget to do this. Add more during bear markets.
Uber was trading at 18 dollars, not rupees. **
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If you're in a middle class family, your best bet to wealth is to join a handsomely paying product company job, and switch companies every 2-3 years early on in your career for >50% hikes.
It's difficult, but not impossible. It's been done before.
A friend of mine went from making 8.5LPA base salary at PayPal India to being able to save ~45L per annum from salary in 4 years, currently working for Twitter in Singapore.
She went from PayPal to Gojek, Gojek to Grab, Grab to Twitter.
Another friend ditched his CS degree placements, built design and UX skills, interned with a UX/UI studio in Bangalore for 30k stipend, and in a year he was earning 1L per month in salary.
He switched to another company in 2nd year, now he's making over 25LPA in his 3rd year.
Currently, there's a message all around social media that college is for suckers.
India hasn't improved all that much to accommodate people with skills but without degree in the job market. It's very rare to find companies like that.
Moral: You're better off going to college.
If you can afford to, go to US/Canada or Europe for your bachelor's. Otherwise, do a master's degree abroad after bachelor's.
Treat the degree as a milestone that gets your foot in the door. Make sure the degree matches what you are interested in.
If you're an average joe, your life can get better through incremental improvement. Don't depend on your college for a job though. Build the skills in the field of your choice while pursuing your degree (hopefully both are aligned) and go vertically deep.
The scenario in trading today is not as it was 20 years back. 20 years back systematic or algorithmic trading was almost non-existent. Today it's growing in numbers.
Throughout the last 20-30 years, traders have had to evolve to adapt to the changing technology and market.
It's clear what the next 20 years look like. By next 20 years, almost 90% of global markets will become algorithmic and systematically driven. Already we see discretionary prop funds withering away. Very few are surviving and barely scraping to get by.
How do you prepare yourselves for trading as a lifelong career?
No other go. You have to learn programming, learn math, statistics, and adapt to the moving technology goalposts. Otherwise you will face competition from those who do learn those things.