Lauren Simmons became the youngest full-time female trader on the New York Stock Exchange (MYSE) in 2017 at the age of 22 and the second African-American female trader in the 229-year history of the New York Stock Exchange.
At the age of 27, she left Wall Street 2 years ago and became an entrepreneur. In 2018, she was selected as one of Ebony's Top 100 Influential People and was selected by politics news website Politico for the 2018 Influential Women List. She made $650,000 (about 4.28 million yuan) in 2021 and almost $1 million (about 6.59 million yuan) in 2022, including speech activities, brand cooperation, book writing, film contracts and hosting the streaming show "Going Public", which some media called her a "Wall Street shen".
Simmons, a graduate of Kansas State University's genetics department, was not deterred by her lack of a traditional financial background, and after she graduated from her home in Georgia to New York City, Richard Rosenblatt, the chief executive of Rosenblatt Securities, took a fancy to her and hired her as a securities trader.
When Simmons worked on the New York Stock Exchange, he earned $120,000 a year (about 790,000 yuan), 85% of his income was saved and supported by the family, and he would not eat out, let alone invest. Simmons said that her extreme money-saving strategy did not conform to the mainstream concept of financial management at present, but it was useful to her, she deposited most of the proceeds into a bank account, never touched, and the check was about to expire before it was cashed. "I like not to see my money and not to think about it so that it is not spent."
Simmons' mindset is positive. "I came into the exchange knowing that the salary was small, but I thought it was an opportunity, and I was going to spend two years trying, going into the trading floors of Wall Street and starting my career from there." She swore to herself that this was the lowest annual salary in her life, and that it would only be higher and not lower in the future.
After receiving media coverage in 2018, Simmons left Wall Street to set up a limited company to manage various work plan projects. In the past few years, she has received book contracts, film contracts, TV contracts and 2 podcast contracts, and continues to earn revenue through speeches, and brand cooperation has earned $6 figures. Simmons has a long working hour, working overtime on weekends, and she has meetings at the earliest 3 o'clock and 23 o'clock at the latest.
By 2021, she moved to New York and earned $650,000 that year. By 2022, she expects to make $1 million.
Simmons began her career as a trader in March 2017, but she said it was not easy to get the job, and after a series of exams and assessments, all on-site brokers had to pass the exam to obtain a trader's certificate.
"I took the exam for a month," she said, "and when I tell you that a lot of people don't think I'm going to pass the exam, they really don't think I'm going to pass the exam." "The content of the exam revolves around financial principles and concepts.
Despite her background in mathematics, Simmons didn't study finance at university, which wasn't easy for her. After passing the exam, she breathed a sigh of relief and had more confidence to work with all the men on the exchange.
When asked about the best experience as a female trader, she said it was confidence. She was incredibly proud to learn that she could have a seat on the NYSE and be treated fairly in the "men's club.". The worst moment for her was when she started questioning her ability to survive in such a work environment after a certain trading decision was not ideal, even though she had the skills and knowledge she needed to succeed.
Simmons only started investing when the stock market crashed in March 2020. She said she had heard many other traders on the New York Stock Exchange who did not invest in the stock market themselves. Simmons said: "There are a lot of people in the trading floor who have experienced at least 3 or 4 recessions and bear markets, and they believe you can't beat the market. ”
In the spring of 2020, things changed. Simmons opened a trading account with $300 (about 1,976 yuan), and by February, $300 had turned into $6,000 (about 39,536 yuan).
Simmons Investments adheres to two principles. First, make sure that the investment does not affect basic living expenses; second, do a lot of homework on the companies and funds that intend to invest. Simmons said: "I am very cautious. ”
"Before investing, I need to have statistics, information that will help me make an informed decision."
She refused to invest in cryptocurrencies on the grounds that they were too speculative. Although she believes that virtual currencies will always exist and will eventually be centralized, it may not be Bitcoin or Ether, it may be a completely new currency, and she will invest her money in the new cryptocurrency.
Simmons has also invested in several tech and beauty innovations related to women and African Americans. Her investments include good commodities and, more importantly, strongmen leaders.
Simmons said that just as many people believe in Musk and invest in Tesla, "They are investing in his vision, and my mentality is the same." Do I believe this person and this product will allow the company to grow and achieve its goals? ”
Speaking about advice for job seekers who dream of working on Wall Street, Simmons said it's important to keep learning in "uncomfortable environments." Growth is only possible by stepping out of your comfort zone. In addition, she also believes that it is very important to cultivate self-confidence from an early age, if you do not have enough self-confidence, as a trader, it is difficult to make key decisions at key moments.
- Read the article: $650,000 at age 27! The female trader is on her way to $1 million"