What will a $500,000 salary cap do to real estate?
Some Wall Street salaries are excessive, but if you live in central Manhattan and have a kid or two in private school, $500,000 won’t go very far at current prices. That’s about what a fifth-year associate at good law firm makes. Surely this would have to push prices down. On the other hand, no one seems to know precisely who is a “senior executive.” If it’s only a symbolic cut for CEO and CFO-types (who are worth millions already) then the effect might be minimal.
