Financial Fiction Friday #9
"It's One Banana, Michael..."
For shame Bloomberg. For shame. This couldn't be more tone deaf. Those poor widdle bankers and their poor widdle bonuses.
As reported by Litquidity in his/its compensation survey, bankers of all shapes and sizes are making extremely healthy incomes, especially after the leapfrogging pay adjustments that took place throughout the pandemic.
For Bulge Bracket banks, the typical base salary for first-year analysts is between $100k-$110k. Underpaid is not a word that should be used with a straight face. There is no question that analysts and associates are working ungodly hours, but no one is forcing their hand and there is a line of people waiting to take their place. When the median household income in NYC sits at $67k, no one making more should consider themselves underpaid.