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Do Bankers Really Deserve Their Multi-million Pound Pays? - Business (2) - Nairaland

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Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by Sauron1: 4:41pm On Dec 10, 2009
Sagamite:

With the money flushing as bonus to bankers and the uproar in the West about excessive pay, are bankers being treated unfairly?

Do they deserve the typical £500K paid as bonus to VPs or EDs at the bulge brackets?

Most VPs are about 28-33 with about 8 years work experience, does it make sense they are making more than an average top 250 firm CEO who does more work than them?

Is their talent any better than that of a Doctor, Rocket Scientist, University Don, Lawyer or Management Consultant and hence deserve the high pay?

Of course, Bankers really deserve their multi-million pound pay. . . .
U seem to forget there's a huge risk analysis involved in making a company or sending the company to an early grave.

It's like asking if footballers deserve their heavy pay packet(£150,000 PER WEEK). . . . .Of course they do.
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by NobiGod: 4:52pm On Dec 10, 2009
tkb417:

haha

Nobigod na correct guy. Im sure your statement was a bit ambiguous.
Now tht uve clarified, we now know u get pepper grin grin grin


so in jay's mind i'm a commercial banker in Nigeria grin ping my IP since u r a mod.
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by eldee(m): 4:57pm On Dec 10, 2009
~Sauron~:

Of course, Bankers really deserve their multi-million pound pay. . . .
U seem to forget there's a huge risk analysis involved in making a company or sending the company to an early grave.

It's like asking if footballers deserve their heavy pay packet(£150,000 PER WEEK). . . . .Of course they do.

Nah . . . it's not about how many risks you take, it's about who bears the risk of going burst.
Bankers risk your money but they've got a safe net to land on . . . Owen breaks his ankle and it's his career that's on the line not my mortgage.
Cal me old fashioned, but you shouldn't get paid that much for gambling with my money.
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by jaybee3(m): 5:03pm On Dec 10, 2009
eldee:

Nah . . . it's not about how many risks you take, it's about who bears the risk of going burst.
Bankers risk your money but they've got a safe net to land on . . . Owen breaks his ankle and it's his career that's on the line not my mortgage.
Cal me old fashioned, but you shouldn't get paid that much for gambling with my money.
did u put your money in investment houses (pension, mutual bla bla bla fund)?
your savings in d normal regular bank accounts aren't gambled
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by Sauron1: 5:10pm On Dec 10, 2009
eldee:

Nah . . . it's not about how many risks you take, it's about who bears the risk of going burst.
Bankers risk your money but they've got a safe net to land on . . . Owen breaks his ankle and it's his career that's on the line not my mortgage.
Cal me old fashioned, but you shouldn't get paid that much for gambling with my money.

STOP whining and quit trying to socially engineer the market.
Instead devote your energy to paying down your debts and seeking better value service from your local bank.
Bankers were not the only ones who created this mess - morons living beyond their means were the main culprits.

No banker seems to have been charged with breaking any law or banking regulation in the system.
Whatever measures the government are planning to stop the multi-million pound salaries cannot stop tens of millions of global consumers from borrowing more than they can afford to repay.

Let the consumers learn to live within their means. . . . .If i were you, i will start taking CFA exams or ACCA modules. grin grin
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by chamotex(m): 5:18pm On Dec 10, 2009
Sagamite:

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.  grin



Sorry but I totally disagree.
MC's are bunch of thieves that chat rubbish and get paid huge sums.

Okay now tell me where the risk is here with the MC's?

Whether their strategies work or not, they will still get paid.
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by eldee(m): 5:25pm On Dec 10, 2009
jay bee:

did u put your money in investment houses (pension, mutual bla bla bla fund)?
your savings in d normal regular bank accounts aren't gambled
Of course . . .
Why?? I work for companies that have their money investment houses, they go bust, I go unemployed, broke and single grin grin

Besides, my taxes pay those fcukers . . . I own them.
Just look at Sir Fred Goodwin's golden handshake
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by eldee(m): 5:31pm On Dec 10, 2009
~Sauron~:

STOP whining and quit trying to socially engineer the market.
Instead devote your energy to paying down your debts and seeking better value service from your local bank.
Bankers were not the only ones who created this mess - morons living beyond their means were the main culprits.

No banker seems to have been charged with breaking any law or banking regulation in the system.
Whatever measures the government are planning to stop the multi-million pound salaries cannot stop tens of millions of global consumers from borrowing more than they can afford to repay.

Let the consumers learn to live within their means. . . . .If i were you, i will start taking CFA exams or ACCA modules. grin grin

Hehehe . . . I know they weren't the only ones that had a hand in the collapse, but they're the only ones that get millions of pounds for it.
People that used to live beyond their means are now lining up for benefits, but no, the bankers are still getting richer off taxpayers' money.

It's both silly and unethical.
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by tkb417(m): 5:37pm On Dec 10, 2009
eldee:

Hehehe . . . I know they weren't the only ones that had a hand in the collapse, but they're the only ones that get millions of pounds for it.
People that used to live beyond their means are now lining up for benefits, but no, the bankers are still getting richer off taxpayers' money.

It's both silly and unethical.
im trying to understand the logic behind this ur enthical line

what exactly is unethical in bankers making money from wealth they create? are you for real?
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by jaybee3(m): 5:38pm On Dec 10, 2009
eldee:

Of course . . .
Why?? I work for companies that have their money investment houses, they go bust, I go unemployed, broke and single grin grin

Besides, my taxes pay those fcukers . . . I own them.
Just look at Sir Fred Goodwin's golden handshake
don't understand the first bit but as for the second bit you gotta slow down a bit. The government just own shares in these troubled banks. The banks are still privately owned

Fred the shed had the salary and pension pot agreed before the global meltdown.
I do agree though that morally he should have forfeited the pot due to the numbers of redundancy indirectly his extreme measures might have caused.
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by eldee(m): 5:48pm On Dec 10, 2009
jay bee:

don't understand the first bit
You asked if the risks they take have anything to do with me . . . I'm saying it does.
Why?? I work for companies that invest . . . when those investments fail because of the bankers, they try to cut costs, the lower middle class lose their jobs.
Sometimes businesses crash altogether . . . the banker's got the government bailouts to fall back on, the employees have nothing but the benefit system.

tkb417:

im trying to understand the logic behind this your enthical line

what exactly is unethical in bankers making money from wealth they create? are you for real?

What's unethical is the fact that they're not liable for the losses that stem from the risks they take with our money.
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by Sauron1: 5:52pm On Dec 10, 2009
eldee:

Hehehe . . . I know they weren't the only ones that had a hand in the collapse, but they're the only ones that get millions of pounds for it.
People that used to live beyond their means are now lining up for benefits, but no, the bankers are still getting richer off taxpayers' money.

It's both silly and unethical.

The reason these bankers get paid so much is quite simple.
Most bankers/traders earning over £1m per year have probably earned the bank about £10m over the past year.

Letz get something straight here. . . . .The banks are net contributors to the economy and it is wrong to apply taxes retrospectively.  
Public opinion has no part to play in a free market economy.
We have no part in this mess at all. Let the bankers do what as they wish.
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by eldee(m): 5:53pm On Dec 10, 2009
jay bee:

but as for the second bit you gotta slow down a bit. The government just own shares in these troubled banks. The banks are still privately owned

Fred the shed had the salary and pension pot agreed before the global meltdown.
I do agree though that morally he should have forfeited the pot due to the numbers of redundancy indirectly his extreme measures might have caused.

The government bailed them out . . . meaning they'll be dead and gone like Woolworths if not for your taxes.
That ain't no private ownership, that's like living in your dad's house and throwing house parties in the room.

Fred was an extreme, now see how many Freds are still there today.
There are still many Sir Goodwins in the industry, and that's just a sucker-punch to the public.
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by eldee(m): 6:02pm On Dec 10, 2009
~Sauron~:

The reason these bankers get paid so much is quite simple.
Most bankers/traders earning over £1m per year have probably earned the bank about £10m over the past year.

Letz get something straight here. . . . .The banks are net contributors to the economy and it is wrong to apply taxes retrospectively.  
Public opinion has no part to play in a free market economy.
We have no part in this mess at all. Let the bankers do what as they wish.

If it were that simple they won't be needing bailouts.
Sir Fred led RBS into record losses and no, he's earning more than the Prime Minister.

Did you see Lord Myners coming out to say about 5,000 bankers will earn more than £1mil this year??
And this is the same UK where Law graduates now work in Tesco.
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by Sagamite(m): 6:05pm On Dec 10, 2009
chamotex:

Sorry but I totally disagree.
MC's are bunch of thieves that chat rubbish and get paid huge sums.

Okay now tell me where the risk is here with the MC's?

Whether their strategies work or not, they will still get paid.

I agree with you that MCs can be criminals sometimes.

But at least they will only steal your wristwatch to tell you the time and then let you go. Bankers would rob you to your pants and give you a mirage pant to wear.  grin grin grin grin grin

Basically, MCs don't get paid as much for their con like bankers as you can choose not to use them but bankers you need for some frequent transactions.

Dem both be wayo in some areas of work.
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by tkb417(m): 6:08pm On Dec 10, 2009
What's unethical is the fact that they're not liable for the losses that stem from the risks they take with our money.

this is illogical to me

ask urself these questions

for how many years did you enjoy the boom?
ask how much wealth was created by these bankers in say 10 years

if as a result of these bankers, a lotta peeps have access to credit to buy houses, cars, and all the good things of life without paying in full
how dare u come out today and say they dont merit what they earn

maybe you lots need to start paying for ur luxuries in full maybe then u'll aprreciate how wealth creation enables the kinda llifestyle u wish for urself

it can only make sense for these chaps to earn that much if we expect them to better our lives.

as per being responsible for the crash, i dont know of any profession that slates the professionals for occupationals hazards

do you jail a teachers for the social dissidents in the society?





d
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by Sagamite(m): 6:11pm On Dec 10, 2009
tkb417:

im trying to understand the logic behind this your enthical line

what exactly is unethical in bankers making money from wealth they create? are you for real?



It is unethical that they shared real money when the boom was here. When there actions of risk-taking (e.g. with people's pensions) almost collapse the economy, they ran to taxpayers to save them otherwise taxpayers will lose their funds.

After being saved, they now want to return to the behaviours that led to the earlier collapse where a lot of taxpayers lost their jobs like if nothing happened. And when people are saying slow down, they are threatening to take their "talent" elsewhere as they deserve it for their "exceptional" work.  grin
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by Sauron1: 6:15pm On Dec 10, 2009
tkb417:


this is illogical to me

ask urself these questions

for how many years did you enjoy the boom?
ask how much wealth was created by these bankers in say 10 years

if as a result of these bankers, a lotta peeps have access to credit to buy houses, cars, and all the good things of life without paying in full
how dare u come out today and say they dont merit what they earn

maybe you lots need to start paying for your luxuries in full maybe then u'll aprreciate how wealth creation enables the kinda llifestyle u wish for urself

it can only make sense for these chaps to earn that much if we expect them to better our lives.

as per being responsible for the crash, i dont know of any profession that slates the professionals for occupationals hazards

do you jail teachers for the social dissidents in the society?


MINT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by chamotex(m): 6:16pm On Dec 10, 2009
Sagamite:

I agree with you that MCs can be criminals sometimes.

But at least they will only steal your wristwatch to tell you the time and then let you go. Bankers would rob you to your pants and give you a mirage pant to wear.  grin grin grin grin grin

Basically, MCs don't get paid as much for their con like bankers as you can choose not to use them but bankers you need for some frequent transactions.

Dem both be wayo in some areas of work.

grin grin grin grin

But seriously we need to look at the consequences of failure here . . . .

If students fail - teachers are more likely to keep their jobs.
If a doctor could not save a life - its 'unlucky', they carry on.

But when bankers fail - they are likely to be redundant.

I understand your point though.
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by Sagamite(m): 6:18pm On Dec 10, 2009
eldee:

You asked if the risks they take have anything to do with me . . . I'm saying it does.
Why?? I work for companies that invest . . . when those investments fail because of the bankers, they try to cut costs, the lower middle class lose their jobs.
Sometimes businesses crash altogether . . . the banker's got the government bailouts to fall back on, the employees have nothing but the benefit system.

What's unethical is the fact that they're not liable for the losses that stem from the risks they take with our money.

GBAM GBAM GBAM

They are virtually the only industry that the government will have to bailout like that as they are fundamental to the economy.

If it was Cadburys that was about to collapse, then the government will let them.

They are taking risk with others money to make themselves millionaires without any consequence for failure or significant risk on their side. Beauty!  grin Heads they win, tails they are OK.  cheesy
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by Adrenaline: 6:19pm On Dec 10, 2009
@ Topic

No they certainly dont, IMHO they are all "thieves with a license" and they get paid way higher than the value they give.
The whole stock market and all the complex financial instruments are all based on a foundationless bubble, as long as people's money can still be passed around from day to day I guess these kind of people will still be able to maintain a job.

They are certainly overpaid  jus like dem politicians
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by tkb417(m): 6:22pm On Dec 10, 2009
Sagamite:

It is unethical that they shared real money when the boom was here. When there actions of risk-taking (e.g. with people's pensions) almost collapse the economy, they ran to taxpayers to save them otherwise taxpayers will lose their funds.

After being saved, they now want to return to the behaviours that led to the earlier collapse where a lot of taxpayers lost their jobs like if nothing happened. And when people are saying slow down, they are threatening to take their "talent" elsewhere as they deserve it for their "exceptional" work.  grin
ure a conman grin grin
ask the taxpayers how much they made from these markets b4 the bubble went boom boom pow

u think this is one of ur strategic sessions where u can harass us with grammar
waka fast grin grin
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by eldee(m): 6:23pm On Dec 10, 2009
tkb417:

as per being responsible for the crash, i dont know of any profession that slates the professionals for occupationals hazards

do you jail a teachers for the social dissidents in the society?

Hehehe . . . you've not see the way the UK system works.
When students fail, schools get less funding from the government, schools need to cut costs so they fire the teachers.

But with bankers, they fail, they get £1mil paycheques.

chamotex:

grin grin grin grin

But seriously we need to look at the consequences of failure here . . . .

If students fail - teachers are more likely to keep their jobs.
If a doctor could not save a life - its 'unlucky', they carry on.

But when bankers fail - they are likely to be redundant.

I understand your point though.

Nah . . . bankers get bailed out so they can get £1mil bonuses off taxpayers' money.
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by tkb417(m): 6:24pm On Dec 10, 2009
eldee
switch to Finance and get paid 1 milla na grin

btw, i need you to tidy up some deals for me o grin grin
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by Sagamite(m): 6:25pm On Dec 10, 2009
tkb417:


this is illogical to me

ask urself these questions

for how many years did you enjoy the boom?
ask how much wealth was created by these bankers in say 10 years

if as a result of these bankers, a lotta peeps have access to credit to buy houses, cars, and all the good things of life without paying in full
how dare u come out today and say they dont merit what they earn


maybe you lots need to start paying for your luxuries in full maybe then u'll aprreciate how wealth creation enables the kinda llifestyle u wish for urself

it can only make sense for these chaps to earn that much if we expect them to better our lives.

as per being responsible for the crash, i dont know of any profession that slates the professionals for occupationals hazards

do you jail a teachers for the social dissidents in the society?


Mortgages and Credit?  grin

Oyinbo get grammar for that one, it is called Indenture.

Bankers are not doing you any favours by letting you afford that in the near term, they are exploiting your weakness and lack of financial sophistication. You have commited your labour, sweat and service to them for years to come.

You buy a product of credit (lets say a house), it cost £160K, by the time you pay monthly for 25 years, you will be paying £240K. Mint for the banker!  grin

If you bought it on subprime?  shocked Yeeeeeeeeepa, na about £290K you go pay.

As for teachers, they are moderately paid and we tell them their reward is in heaven. So how you wan complain about them?
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by Sagamite(m): 6:28pm On Dec 10, 2009
tkb417:

ure a conman grin grin
ask the taxpayers how much they made from these markets b4 the bubble went boom boom pow

u think this is one of your strategic sessions where u can harass us with grammar
waka fast grin grin

grin grin grin grin grin

That one, I no fit deny.

They pay huge tax. So basically they pay the gatekeepers a bit of the loot to not harass them and look charitable. grin
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by chamotex(m): 6:30pm On Dec 10, 2009
tkb417:

u think this is one of your strategic sessions where u can harass us with grammar
waka fast grin grin

I'm suspecting SAgamite . . . I think he is a Consultant. grin grin

eldee:

Nah . . . bankers get bailed out so they can get £1mil bonuses off taxpayers' money.

But that is because they are a key instrument in the success of the economy, both short-term and long-term.
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by eldee(m): 6:30pm On Dec 10, 2009
tkb417:

ure a conman grin grin
ask the taxpayers how much they made from these markets b4 the bubble went boom boom pow

That's the thing . . . the taxpayers have changed the way they spend.
Everyone's changed their spending habits . . . my boss had to sell the box we had in The O2
Everyone's taking paycuts. Allen & Overy and K&C, two of the biggest law firms just announced that they're cutting staff pay by 20%.
These people were not bailed by the government.

Why must it be the banks that refuse to cut costs?? Why must they be the only ones still continuing with these bad habits??
Because they are thieves with shining CVs and superfat pensions. . .  grin grin grin grin
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by Sagamite(m): 6:32pm On Dec 10, 2009
chamotex:

I'm suspecting SAgamite . . . I think he is a Consultant. grin grin

But that is because they are a key instrument in the success of the economy, both short-term and long-term.

Yes, I am.

We are just areaboys, not armed robbers like bankers. grin

We go hype you up with our deep voice until you cough up the dough, bankers just rob you straight. grin grin grin grin grin
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by hackney(m): 6:36pm On Dec 10, 2009
In early 2007, a (one!) banker got £200m bonus in london city (the legendary sq mile).
i've still got the newpaper cut-out.

That's not just 2 much ; it's bizzare!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Even the highest multi-billion hedge fund investment shld not accrue so much bonus
(even if he rakes in £1Bn profit)
Re: Do Bankers Really Deserve Their Multi-million Pound Pays? by Sagamite(m): 6:37pm On Dec 10, 2009
The one wey make me laugh is the one of RBS wey the same bankers that lost people's pensions and help some lose their jobs are the ones demanding huge bonus to keep the "talent" from leaving. I say "shoo, dem be talent when dem lose £18bn"!  shocked grin

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