On Wall Street: All Reward, No Risk

[Andy Nguyen]

For the life of me, I can’t figure out why Wall Street bankers, traders and executives get paid so much money year after year for doing jobs that rarely require them to innovate, enlighten or put their own capital at risk, and have the nasty habit of periodically sinking our economy.

After a two-year stint as a reporter on a daily paper in the early 1980s, I worked on Wall Street for nearly two decades, and quickly discovered that I could make more money in one year as a banker than I could in a lifetime as a journalist. And that was when I was a relatively junior banker. By the time I was a managing director, the pay — and the pay spread — was astronomical.

On Wall Street: All Reward, No Risk - NYTimes.com

 

[Andy D.]

By the time I was a managing director, the pay — and the pay spread — was astronomical.

An odd article on the part of the author, to complain about the situation, but to stick around in the industry for a couple of decades. I presume this gentleman donated his "astronomical" pay to charity and lived on an average US salary, so what's that somewhere around the $40K range?
I very much doubt it.

 

[ThinkDifferent]

can't agree more with this guy.