Sagamite:

With the money flushing as bonus to bankers and the uproar in the West about excessive pay, are bankers being treated unfairly?

Do they deserve the typical £500K paid as bonus to VPs or EDs at the bulge brackets?

Most VPs are about 28-33 with about 8 years work experience, does it make sense they are making more than an average top 250 firm CEO who does more work than them?

Is their talent any better than that of a Doctor, Rocket Scientist, University Don, Lawyer or Management Consultant and hence deserve the high pay?

tkb417:

haha

Nobigod na correct guy. Im sure your statement was a bit ambiguous.
Now tht uve clarified, we now know u get pepper

~Sauron~:

Of course, Bankers really deserve their multi-million pound pay. . . .
U seem to forget there's a huge risk analysis involved in making a company or sending the company to an early grave.

It's like asking if footballers deserve their heavy pay packet(£150,000 PER WEEK). . . . .Of course they do.

eldee:

Nah . . . it's not about how many risks you take, it's about who bears the risk of going burst.
Bankers risk your money but they've got a safe net to land on . . . Owen breaks his ankle and it's his career that's on the line not my mortgage.
Cal me old fashioned, but you shouldn't get paid that much for gambling with my money.

eldee:

Nah . . . it's not about how many risks you take, it's about who bears the risk of going burst.
Bankers risk your money but they've got a safe net to land on . . . Owen breaks his ankle and it's his career that's on the line not my mortgage.
Cal me old fashioned, but you shouldn't get paid that much for gambling with my money.

Sagamite:

MCs are the ones that help a company grow. They set the optimal way of the people, process and technology working together. They determine the product mix and entry approach.

They train and inspire staff, manage tough transformations and changes.

Bankers just come in and make calculations on spreadsheet and carry ghana must go away.  

jay bee:

did u put your money in investment houses (pension, mutual bla bla bla fund)?
your savings in d normal regular bank accounts aren't gambled

~Sauron~:

STOP whining and quit trying to socially engineer the market.
Instead devote your energy to paying down your debts and seeking better value service from your local bank.
Bankers were not the only ones who created this mess - morons living beyond their means were the main culprits.

No banker seems to have been charged with breaking any law or banking regulation in the system.
Whatever measures the government are planning to stop the multi-million pound salaries cannot stop tens of millions of global consumers from borrowing more than they can afford to repay.

Let the consumers learn to live within their means. . . . .If i were you, i will start taking CFA exams or ACCA modules.

eldee:

Hehehe . . . I know they weren't the only ones that had a hand in the collapse, but they're the only ones that get millions of pounds for it.
People that used to live beyond their means are now lining up for benefits, but no, the bankers are still getting richer off taxpayers' money.

It's both silly and unethical.

eldee:

Of course . . .
Why?? I work for companies that have their money investment houses, they go bust, I go unemployed, broke and single

Besides, my taxes pay those fcukers . . . I own them.
Just look at Sir Fred Goodwin's golden handshake

jay bee:

don't understand the first bit

tkb417:

im trying to understand the logic behind this your enthical line

what exactly is unethical in bankers making money from wealth they create? are you for real?

eldee:

Hehehe . . . I know they weren't the only ones that had a hand in the collapse, but they're the only ones that get millions of pounds for it.
People that used to live beyond their means are now lining up for benefits, but no, the bankers are still getting richer off taxpayers' money.

It's both silly and unethical.

jay bee:

but as for the second bit you gotta slow down a bit. The government just own shares in these troubled banks. The banks are still privately owned

Fred the shed had the salary and pension pot agreed before the global meltdown.
I do agree though that morally he should have forfeited the pot due to the numbers of redundancy indirectly his extreme measures might have caused.

~Sauron~:

The reason these bankers get paid so much is quite simple.
Most bankers/traders earning over £1m per year have probably earned the bank about £10m over the past year.

Letz get something straight here. . . . .The banks are net contributors to the economy and it is wrong to apply taxes retrospectively.  
Public opinion has no part to play in a free market economy.
We have no part in this mess at all. Let the bankers do what as they wish.

chamotex:

Sorry but I totally disagree.
MC's are bunch of thieves that chat rubbish and get paid huge sums.

Okay now tell me where the risk is here with the MC's?

Whether their strategies work or not, they will still get paid.

What's unethical is the fact that they're not liable for the losses that stem from the risks they take with our money.

tkb417:

im trying to understand the logic behind this your enthical line

what exactly is unethical in bankers making money from wealth they create? are you for real?

tkb417:


this is illogical to me

ask urself these questions

for how many years did you enjoy the boom?
ask how much wealth was created by these bankers in say 10 years

if as a result of these bankers, a lotta peeps have access to credit to buy houses, cars, and all the good things of life without paying in full
how dare u come out today and say they dont merit what they earn

maybe you lots need to start paying for your luxuries in full maybe then u'll aprreciate how wealth creation enables the kinda llifestyle u wish for urself

it can only make sense for these chaps to earn that much if we expect them to better our lives.

as per being responsible for the crash, i dont know of any profession that slates the professionals for occupationals hazards

do you jail teachers for the social dissidents in the society?

Sagamite:

I agree with you that MCs can be criminals sometimes.

But at least they will only steal your wristwatch to tell you the time and then let you go. Bankers would rob you to your pants and give you a mirage pant to wear.  

Basically, MCs don't get paid as much for their con like bankers as you can choose not to use them but bankers you need for some frequent transactions.

Dem both be wayo in some areas of work.

eldee:

You asked if the risks they take have anything to do with me . . . I'm saying it does.
Why?? I work for companies that invest . . . when those investments fail because of the bankers, they try to cut costs, the lower middle class lose their jobs.
Sometimes businesses crash altogether . . . the banker's got the government bailouts to fall back on, the employees have nothing but the benefit system.

What's unethical is the fact that they're not liable for the losses that stem from the risks they take with our money.

Sagamite:

It is unethical that they shared real money when the boom was here. When there actions of risk-taking (e.g. with people's pensions) almost collapse the economy, they ran to taxpayers to save them otherwise taxpayers will lose their funds.

After being saved, they now want to return to the behaviours that led to the earlier collapse where a lot of taxpayers lost their jobs like if nothing happened. And when people are saying slow down, they are threatening to take their "talent" elsewhere as they deserve it for their "exceptional" work.  

tkb417:

as per being responsible for the crash, i dont know of any profession that slates the professionals for occupationals hazards

do you jail a teachers for the social dissidents in the society?

chamotex:



But seriously we need to look at the consequences of failure here . . . .

If students fail - teachers are more likely to keep their jobs.
If a doctor could not save a life - its 'unlucky', they carry on.

But when bankers fail - they are likely to be redundant.

I understand your point though.

tkb417:


this is illogical to me

ask urself these questions

for how many years did you enjoy the boom?
ask how much wealth was created by these bankers in say 10 years

if as a result of these bankers, a lotta peeps have access to credit to buy houses, cars, and all the good things of life without paying in full
how dare u come out today and say they dont merit what they earn

maybe you lots need to start paying for your luxuries in full maybe then u'll aprreciate how wealth creation enables the kinda llifestyle u wish for urself

it can only make sense for these chaps to earn that much if we expect them to better our lives.

as per being responsible for the crash, i dont know of any profession that slates the professionals for occupationals hazards

do you jail a teachers for the social dissidents in the society?

tkb417:

ure a conman
ask the taxpayers how much they made from these markets b4 the bubble went boom boom pow

u think this is one of your strategic sessions where u can harass us with grammar
waka fast

tkb417:

u think this is one of your strategic sessions where u can harass us with grammar
waka fast

eldee:

Nah . . . bankers get bailed out so they can get £1mil bonuses off taxpayers' money.

tkb417:

ure a conman
ask the taxpayers how much they made from these markets b4 the bubble went boom boom pow

chamotex:

I'm suspecting SAgamite . . . I think he is a Consultant.

But that is because they are a key instrument in the success of the economy, both short-term and long-term.