$500K.

That’s the number that many Wall Streeters are complaining about, publicly, in the context of their own incomes.

$500K. 10X the average worker.

One might think, well, how about we give ’em $10K/mo. for housing. That’s a pretty nice place, meaning most of us pay a bit less. So now we’re down to $380,000. Oh, I should’ve taken 30% off for taxes to begin with, even though none of these folks pay 30% as an effective (real) rate. So anyway we should change the math: $350K to begin with, down to $130,000 after you sweat by with your $10K/mo. house nut.

So then you do some rounding, to the $500K that’s-not-enough Whiners Club’s advantage, and assume they only have $10K/month, $120K instead of $130K (hey, you have to feed the children, right?), which leaves an “only” $10K to save and/or invest every year.

Aren’t your hearts just bleeding for these indispensable failures?

Representative true but revealing quote:

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said this week that it’s wrong for politicians to criticize Wall Street pay without differentiating between companies where compensation is commensurate with performance.

“It’s unfair to talk about us as one,” Dimon, who was paid $1 million last year and didn’t accept a bonus, said at a conference in New York. “Not every company was responsible.”

We’re going down. And we deserve it.

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