chamotex:

He said he's comfortable.

comfortable in context here is job satisfaction not money please.

jay bee:

Do you know how much i earn?
PS. I don't work for Nigerian Government
What makes you think i ain't rich with what i'm earning at the moment? shior

Tell em Jay bee . . . tell em

NobiGod:

comfortable in context here is job satisfaction not money please.

And who says job satisfcation can't equal higher income?

tkb417:

hehe
maybe in UK

come check how we do our thingy in Las Gidi; forget the long hours bro
our offices are "padded" and u can be rest assured ure home away from home

we love to work and get paid

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

jay bee:

While we are still on the topic of sharing the risks involved, do you think the average man is prepared to share the burden of having to be at work more than 12 hrs a day sometimes 6days a week?
The constant HBP and enormous stress of having to always deliver?

Some of my friends have always asked me why i've never gone into IB industry and my answer to them as always been i'm very comfortable with earning far more than i work for. Just come and check how we roll in public sector

Doctors, lawyers, management consultants face this as well and they don't get paid as much despite adding more value.  

jay bee:

Do you know how much i earn?
PS. I don't work for Nigerian Government
What makes you think i ain't rich with what i'm earning at the moment? shior

hehehehe
i throway salute o!

where is sagamite?
oya come lets continue

NobiGod:

comfortable in context here is job satisfaction not money please.

jay bee:

what if say i'm sure i earn somewhere in the region of 4 - 6* (guessing u r a commercial banker in naija) your salary monthly after tax?

hehehe
some commercial bankers get pay o
dont even start

Sagamite:

Doctors, lawyers, management consultants face this as well and they don't get paid as much[b] despite adding more value.[/b]

how do you quantify/measure this?

Sagamite:

Doctors, lawyers, management consultants face this as well and they don't get paid as much despite adding more value.  

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?

tkb417:

hehehe
some commercial bankers get pay o

his level na bruv. i don't expect a DM or something like that to be fooling around NL

chamotex:

I agree but that's because they have the supply power.
Customers do not have much of a choice here. Unless you've built a cupboard as your bank where you keep your money
When you get a loan from the bank, where do you think the money is coming from?
These banks do share some risks aswell, the amount they lose on bad debts alone is very alarming.

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:

hehehehe
i throway salute o!

where is sagamite?
oya come lets continue

I dey o.  

jay bee:

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?

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

jay bee:

his level na bruv. i don't expect a DM or something like that to be fooling around NL

haha

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

funny shyte is Saga knows all these things
he is just trying to play devils advocate

Sagamite:

Doctors, lawyers, management consultants face this as well and they don't get paid as much despite adding more value.  

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.

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

tkb417:

how do you quantify/measure this?

jay bee:

Doctors =  Work longer hours but don't directly add wealth to coffers of the nation

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 = You can argue some actually make more money than the bankers (Tort, IB lawyers)

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:

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

jay bee:

Management Consultants = by drafting strategies and attending pointless meetings?

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.  

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!

jay bee:

what if say i'm sure i earn somewhere in the region of 4 - 6* (guessing u r a commercial banker in naija) your salary monthly after tax?

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.

tkb417:

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

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.

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.

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:

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.

might need to call a colleague to come and answer u
u be case

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.

NobiGod:

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.

no vex ma guy. we be padi padi na

Sagamite:

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.

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.

tkb417:

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
might need to call a colleague to come and answer u
u be case

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.

Sagamite:

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.

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

jay bee:


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

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:

Money is like blood and most times it's a must have

There was a time we did without money. But you cannot do without health or freedom.

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

Sagamite:

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.

D) MC: that taught me how to make money from my own business.

Put it in other of value-added.

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  

tkb417:

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

And if you lose? 

You go give me 5%, abi that na my wahala?

tkb417:

b) how do measure how much to pay for those saving your 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 your doctor 50k dollars for a particular treatment

Of course, this one is Mastercard*. Anything given is really a token, the value-added is very high.

^{Mastercard means priceless.}

tkb417:

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

Eh, commercial lawyers are in league with bankers. Civil lawyers, in some cases, add more value and deserve higher pay than bankers.

tkb417:

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  

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. 

jay bee:

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

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.