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Nairaland Forum / Nairaland / General / Business / Do Bankers Really Deserve Their Multi-million Pound Pays? (11391 Views)
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Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by NobiGod: 3:00pm On Dec 10, 2009 |
chamotex: comfortable in context here is job satisfaction not money please. |
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by chamotex(m): 3:02pm On Dec 10, 2009 |
jay bee: Tell em Jay bee . . . tell em NobiGod: And who says job satisfcation can't equal higher income? |
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by jaybee3(m): 3:03pm On Dec 10, 2009 |
tkb417:offices here are madly pimped as well but i hope u know the kinda stress that i'm talking about are d ones that drive some bankers to doing hard drugs and booze |
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by Sagamite(m): 3:04pm On Dec 10, 2009 |
jay bee: Doctors, lawyers, management consultants face this as well and they don't get paid as much despite adding more value. |
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by tkb417(m): 3:05pm On Dec 10, 2009 |
jay bee:hehehehe i throway salute o! where is sagamite? oya come lets continue |
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by jaybee3(m): 3:06pm On Dec 10, 2009 |
NobiGod: |
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by tkb417(m): 3:10pm On Dec 10, 2009 |
jay bee:hehehe some commercial bankers get pay o dont even start Sagamite:how do you quantify/measure this? |
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by jaybee3(m): 3:10pm On Dec 10, 2009 |
Sagamite:Doctors = Work longer hours but don't directly add wealth to coffers of the nation Lawyers = You can argue some actually make more money than the bankers (Tort, IB lawyers) Management Consultants = by drafting strategies and attending pointless meetings? |
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by jaybee3(m): 3:12pm On Dec 10, 2009 |
tkb417:his level na bruv. i don't expect a DM or something like that to be fooling around NL |
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by Sagamite(m): 3:13pm On Dec 10, 2009 |
chamotex: Those are mainly the retail, wholesale and commercial banking banks/arms that make reasonable bonus and face real risks, not the markets or investment banks that make astronomic bonus using your pension as risk. tkb417: I dey o. |
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by tkb417(m): 3:13pm On Dec 10, 2009 |
jay bee:dont mind sagamite management consultants? what do they do? speak english and deceive people for money ive been there b4 Saga i know all these things |
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by tkb417(m): 3:16pm On Dec 10, 2009 |
jay bee:haha Nobigod na correct guy. Im sure ur statement was a bit ambiguous. Now tht uve clarified, we now know u get pepper |
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by jaybee3(m): 3:17pm On Dec 10, 2009 |
funny shyte is Saga knows all these things he is just trying to play devils advocate |
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by chamotex(m): 3:20pm On Dec 10, 2009 |
Sagamite: Management consultants? That is the biggest sham in the business industry. Talk crap and get paid Whether their formulated strategies work or not, they still get paid. |
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by tkb417(m): 3:21pm On Dec 10, 2009 |
Those are mainly the retail, wholesale and commercial banking banks/arms that make reasonable bonus and face real risks, not the markets or investment banks that make astronomic bonus using your pension as risk.so tell me how you determine a real risk and an unreal risk Do you know almost all the analysts in LB got drowned too? all they have worked for went down the drain cos most of them re-invested the bonuses and income in the bank how do you detach such a scenario with the boom-bust situation that pervades the Investment banking world i insist, he who is involved in creating wealth for others deserves to be paid handsomely thts ma position |
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by Sagamite(m): 3:24pm On Dec 10, 2009 |
tkb417: jay bee: Doctors save lives and deal with the emotional management of patients and family whilst studying for years to specialise. JB, wetin you dey say? Na those wey add money to coffers that should be paid or should it be based on value-added? Doctors do work that is harder and more complex. jay bee: Lawyers also have more specialist work and save people from injustice. although they are crooks too. Lawyers don't earn more than bankers o. Not possible! Some make great pay, but their are multiple financiers that make better pay. tkb417: jay bee: Oloshi, wetin you mean attending meetings? MCs are the ones that help a company grow. They set the optimal way of the people, process and technology working together. They determine the product mix and entry approach. They train and inspire staff, manage tough transformations and changes. Bankers just come in and make calculations on spreadsheet and carry ghana must go away. |
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by netotse(m): 3:24pm On Dec 10, 2009 |
all of you arguing here shouldn't forget to leave your numbers and addresses so i can alert "the owners" so they can come and collect their share! and ppl will be complaining that ppl nowadays are refusing to read engineering. . .tah! |
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by NobiGod: 3:26pm On Dec 10, 2009 |
jay bee: Man u don't have to tell or say here what u earn, I just asked a question. Your alighted statement was honest but also of smugness, hence the question. |
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by Sagamite(m): 3:30pm On Dec 10, 2009 |
tkb417: Abegi, dem be muga. That na by choice. E be like person wey go another person house and buggle am finish carry all him valuables. Bugglar come go back the same house to use the swimming pool, Police come catch am. That one no be muga? Real risk is when the banks share in the risk on par with investors. Not when they investor bears most of the loss but less of the gain. |
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by tkb417(m): 3:37pm On Dec 10, 2009 |
Doctors save lives and deal with the emotional management of patients and family whilst studying for years to specialise.work that is harder and complex? u still havent told us how all these amount to why they shld be paid more they are doing what they were trained to do while bankers are in the art of making and spending money u want money, read and study how to make and use money; thts who we are Sagamite:might need to call a colleague to come and answer u u be case |
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by Sagamite(m): 3:41pm On Dec 10, 2009 |
Oya, make I ask una question. Which one should I pay the highest for services: A) Financier: that took my 100K and turned it into 200K. B) Doctor: that saved my life to care for my kids or cured my painful disease to let my life be less of pain. C) Lawyer: that saved me from life imprisonment for a crime I did not commit. D) MC: that taught me how to make money from my own business. Put it in other of value-added. |
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by jaybee3(m): 3:46pm On Dec 10, 2009 |
NobiGod:no vex ma guy. we be padi padi na |
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by eldee(m): 3:48pm On Dec 10, 2009 |
Sagamite:Exactly!!! I see where Jaybee's coming from . . . they make money for their respective banks And yeah, they work longhours, but teachers do too . . . no one counts the time theyspend marking and making lesson notes, or who says the nurse isn't as important to the smooth-running of the society as bakers?? That's not the question . . . but we seem to forget that they are in no way the risk-bearers when things go wrong. They've got sparkling references and CVs with fat golden handshakes when they actually helped to tear the country apart. So ethically, their paycheques are not in any way justifiable. |
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by Sagamite(m): 3:50pm On Dec 10, 2009 |
tkb417: I think one of the key advantages of banks is that their key assets that they have to invest in are people and they are in a regulated market. Hence they can pay their staff a higher fraction of the working capital than most industries. Oil companies have to invest their profits in infrastructures and maintainance of it, as well as bidding for oil wells. Doctors have to by equipments and drugs, and government wants healthcare to be cheap. Lawyers in civil practice have to be cheap as they have social responsibilities. They even do some pro bono. MCs industry is unregulated, so competition is more intense (limiting fees) as there is no barrier to entry. |
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by jaybee3(m): 3:53pm On Dec 10, 2009 |
Sagamite:Long or short term? Long term: B, C, D, A Short term: (enabler of smooth running of business as usual of a nation) A: If you don't have the money how r u gonna be bale to afford B, C D B C So as long as human beings are generally built to be short sighted finance all d way. Money is like blood and most times it's a must have |
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by Sagamite(m): 3:57pm On Dec 10, 2009 |
jay bee: I am talking plainly about value-added from work done. But if you go go that direction: If you are dead or in jail for life, you would not be able to spend your £100K profit na! But that jail one, you fit use am bribe the Alayes to make sure you don't fear to pick up soap sha. Lets not go there, lets just look at value of work done. jay bee: There was a time we did without money. But you cannot do without health or freedom. |
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by jaybee3(m): 4:02pm On Dec 10, 2009 |
It's hard to compare the value of work done cos they are totally different fields. What abt if u say something like; value added to the economy, value added to humanity bla bla bla give us something to work with |
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by tkb417(m): 4:05pm On Dec 10, 2009 |
Sagamite:This is so easy SAGA a) If im supposed to get 5% of how much im making for you, then A will most def make more money. why? im driven by the percentage attached to the wealth im making for you. I get you a million dollars, i get 50k dollars. simple b) how do measure how much to pay for those saving ur life? Thats the problem. what you pay is dependent on how you value your life and how much you love money. i doubt if you'll pay ur doctor 50k dollars for a particular treatment c) lawyers work with percentages too and hence the reason why some of they earn that much. Its common nowadays to see the solicitors in a capital/equity raising exercise asking for between 3-5% of the transaction total summary. I think what obtains now is that, all professional advisers are grouped together and share in whatever transaction cost apportioned to the deal d) MC u mean Mckinsey and co wht do you wanna teach companies? Balanced scorecard or what u cant speak english to collect money o, what ure bringing to the table must be tangible u cant come and tell us how to dress properly and expect profits to start streaming in |
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by Sagamite(m): 4:11pm On Dec 10, 2009 |
tkb417: And if you lose? You go give me 5%, abi that na my wahala? tkb417: Of course, this one is Mastercard*. Anything given is really a token, the value-added is very high. Mastercard means priceless. tkb417: Eh, commercial lawyers are in league with bankers. Civil lawyers, in some cases, add more value and deserve higher pay than bankers. tkb417: I know say sometimes these ones too can be conmen. But I still think their breath of value (helping you understand your market, customers and innovation) is higher than that of banker when you become market leader. Finance is one-dimensional value. |
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by Sagamite(m): 4:17pm On Dec 10, 2009 |
jay bee: Just use pure gut-feeling on value-added. Even if you say value added to economy, I think A would still be last as a sick nation cannot be productive. Neither can a nation full of injustice be worth living in. And a good economy needs people with the right skills working optimally as a team (Nigeria is an example of lots of finance but poor working style, although in the case of UAE, you can import it). In regards to humanity. No even go there. IBers be scapegoat for the greed in the industry. |
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