Do you think that those $650K minimum Wall Street bonuses paid to 1st yr. investment bankers was warranted?
Wall street employees have always gotten FAT bonuses. I do think it is a bit ridiculous though on many levels. But incoming analysts get trained by second year associates and as such the trend is continued year to year following a basic standard or template. They’re following the same financial rules that have been passed down through Wall Street for almost 100 years. So where the “regular” working people around the world peer in and see a media frenzy around a recent Wall Street debacle, the average Wall Street worker sees it as just another day at work. Confused? Heres an analogy. . . If you are raised in a house that is a “pig-sty” and everything is dirty and messy, with nothing in place and utter chaos, but everybody in your family has grown up this way for 3 or 4 generations, you don’t have a problem with it and you’re quite comfortable. BUT, when something happens in the house, say a fire or a death etc. and the media comes in, everybody thinks you’re crazy or deranged!
