My cousin is in the finance industry, and all I can say is that 2009 overall was a GREAT year for them. Despite publicity of high-flying bankers being retrenched and salaries & bonuses being slashed in early 2009, by the middle of last year almost all had gotten back on their feet with at least quite respectable remuneration.
I doubt if unemployment among bankers is even 5% in US or UK. Even in S'pore, if an investment banker earning $20K/mth were to lose his job, worse case he can easily become polytechnic lecturer earning maybe $4-5K/mth. Still better off than 75% of the population.
I rank banking right up there with lawyers, used car salesman, housing agents. They are unproductive people who produces nothing of value to mankind and society.
2009 was a difficult year for many bankers.
ReplyDeleteThey certainly deserve a reward.
Reminds me of McDonald's TV advertisement on channel 5. We need to buy them a McDonald's Value Meal for working so hard through 2009.
Or is it one type of reward for workers and another type of reward for bankers?
In America, the phrase they use is, "Kick the bums out!"
My cousin is in the finance industry, and all I can say is that 2009 overall was a GREAT year for them. Despite publicity of high-flying bankers being retrenched and salaries & bonuses being slashed in early 2009, by the middle of last year almost all had gotten back on their feet with at least quite respectable remuneration.
ReplyDeleteI doubt if unemployment among bankers is even 5% in US or UK. Even in S'pore, if an investment banker earning $20K/mth were to lose his job, worse case he can easily become polytechnic lecturer earning maybe $4-5K/mth. Still better off than 75% of the population.
Ex-Con
I rank banking right up there with lawyers, used car salesman, housing agents. They are unproductive people who produces nothing of value to mankind and society.
ReplyDelete