How many of the people who compain about bankers bonuses could do the job themselves?

kabayiri

RJP33 wrote: »

Indeed, these guys work 15 hours a day, 7 days a week with crazy amounts of stress to earn their money. It's an incredibly difficult job with direct accountability for large amounts of money.

Get real.

Sure, they work hard. I have worked into the evening alongside some.

But it isn't every day of the week, and 15 hours every day.

For other examples of stress, try :-
- fire fighting enterprise database upgrades into the night
- persuading someone not to commit suicide on the other end of the helpline
- operating on someone to save their life
- worrying if you have enough work this month to pay the rent/mortgage
- patrolling the front line in Afghanistan or Iraq.

For the record, there are plenty of professions out there I'd give large bonuses to each year, because I respect what they do.

But we can't do that, because there isn't enough to go round. The bankers in the city get well paid for what they do. I suggest they are the lucky ones.

RJP33

In terms of the top hedge fund managers and the like they most certainly do work those hours and more.

The problem with those you've suggested is while they are undoubtedly stressful, they don't have a direct effect on profits and they don’t have accountability for huge amounts of money, which is why bankers get paid what they get paid. Make £100m and take £1m yourself etc

Rightly or wrongly the other ones don’t make vast profits for business so don’t get rewarded in kind.

purch

with crazy amounts of stress

Another quaint notion :rotfl:

Stress my !!!! !!!

I worked 17 years, 24/7, calls at 8PM from NY, 2AM from Sydney, 4AM from Tokyo, checking my handheld ticker at all hours, .............. the most stressful thing was choosing between Bollinger or Moet ...........................(Bolly every time :beer:)

It would've been far more stressful if I didn't have/expect some part of the profit made, then losing the job would have meant something.

abaxas

The question should not be about bonuses, but what happens if they make mistakes.

Since it's win if you fail, win more if your succeed. Where is the risk?

kabayiri

RJP33 wrote: »

In terms of the top hedge fund managers and the like they most certainly do work those hours and more.

...

Ok, show me a timesheet showing :-
Mon - Sun
9am - 1am (best allow an hour for lunch eh?)

and I'll believe you.

Otherwise I suggest you just make up figures as you go along.

RJP33

abaxas wrote: »

The question should not be about bonuses, but what happens if they make mistakes.

Since it's win if you fail, win more if your succeed. Where is the risk?

And therein lies the issue over the past few years, there was no disincentive to take huge risks. Which clearly there needs to be.

In terms of hours, one I know gets in a 6am and doesn’t leave until 9 at night (15 hours), sometimes later, then works most of the weekend as well.

ILW

Bottom line is they get paid a small percentage of what they earn for their employer. How many people could afford to live on say 0.1% of what they make for their company.

purch

I think you'll find it's about 10% of what they make, over and above their budget.

In 1994 my budget was set at $ 6,200,000, and everything made above that I got 10% of :j

Oh, to be young again

abaxas

ILW wrote: »

Bottom line is they get paid a small percentage of what they earn for their employer. How many people could afford to live on say 0.1% of what they make for their company.

Take this a little further...

By that logic, a driver of a gritter would be the most well paid person on the planet.

ILW

abaxas wrote: »

Take this a little further...

By that logic, a driver of a gritter would be the most well paid person on the planet.

Why?
If it didn't snow, he would earn nothing.