Monday, 24 June 2013

The new era of Bankers Compensation

One of the legacies of the Financial Crisis 2007-2010 was the reputation and the way the larger Public assess the magnitude of Top Investment Bank Executive compensation. The general perception is of disproportionate pay to these officers, and not without reason and argument. And as a response there is data surveyed recently and shortly presented in the FT video below that confirms a downsizing of that magnitude. Nevertheless earning $10m-$20m (m for million) is beyond even of comprehension for the average tax payer of any Country irrespective of that Country wealth and level of development, to say the least about anyone average reaching that kind annual income. I am not a 'crusader' of Equality, but I really think that excessive Inequality is an issue of Social and Political Welfare in its own right, and there's lot of evidence pointing the ills and even economic inefficiencies generated by this excessive pay gap. But it is needed more than Financial Crisis if we ever going to close a lot bit more of this terrible gap, that despite the increasing numbers of Democracies around the world still persists and may will never really close in the first place.....

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