₦airaland Forum

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  

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

allboyz:
thief

why dont you pray for Lyon or Porto? or even INTER

are they better than Wolfsburg who got beaten without our defenders

give me Bayern or AC

time to avenge some painful losses in the past has come

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

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

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:
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?

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

he drives a range

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

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

Sagamite:
The Conmen (bankers) make money from cut, the intermediary love-vendor (fund manager) makes money from AMC, the Godfathers (government) makes money from tax and the girl (pensioner) is despoiled for little returns despite being the one facing AIDS (bearing majority of the risk).

lol
i don tire for u

Sagamite:
I am saying you guys are conmen!

No, joking, what I am saying is that I really don't see the exceptional work that is being done or risk being taken to be worthy of the huge sums in most aspects of banking. But unfortunately, the industry structure and social responsibility enables them to make such money. It even enables them to hide failure under short term gains by which time they would have been rewarded for success.

Doctors that are experts and geniuses that do more incredible and meaningful work can not easily charge mega-bucks as their is a social responsibility and the structure of the industry means most have to work as civil servants and the quality of their work is hard to quantify.

lol
conmen? i dont know about that
we are service providers

and how do you measure how what the doctors do are more credible and meaninful than what the bankers do?
without the banks, how will the doctors survive?

whoever is in the art of wealth creation will definitely be wealthy. The bankers are in the business of making money for you and i, and it can only make sense if they are true representatives of the wealth they are creating

Sagamite:
Yep, that is a valid point.

But most people are not financially knowledgeable to be frank and even those of us that are, can't be bothered to read such long and lengthy legal jargons. How many times have you read the warranty on the products you buy?

Another thing is that they have limited options of where to invest their funds hence these banks have supplier power, have no real socially moral responsibility like Doctors and the investors mostly just have to use them.

In dynamics like this, it is not unknown for governments to protect the customer in other industries, so is it time to apply it to the banking industry?

so what are we saying?
if supplier power is hgh, then it makes sense for them to dicatate the tune
thts just the koko; if youre broke, dont even try to fix it

Sagamite:
In the markets, that was what happened in the credit crunch.

The bankers had made a profit/bonus and the investors were left with a chimera.

sagamite
haba, what are you saying?

pls detach the bankers from the market and lets start from there

when the markets crash, what do you think is crashing? the banks of course

where i work, people have been sacked, the top mgt cannot be paid, the company is exposed to bad instruments/debts, illiquid cos of so much exposure to the same market ure talking about

how do you reconcile this?
when the market crash, the bankers cannot eat

check the risk reward ratio of these payments and u'll understand what im saying
i get paid bonuses for deals i make for clients, i dont get cuts from paper profits like u said and of course if i help clients in raising 500 million in a year, then it makes sense to get 50,000 in bonus at ma level

so whats the wahala saga

jay bee:
welcome on board
i expect first class insight oh so pls don't shy away. i trust u anyway

i dont get the drift
why they are huge bonuses?

first thing, are you asking the the moral justifcation/ethical balance of the rewards or you think they dont do as much as they earn?

lemme get it clearly

That is exactly my point.

Aspects of banking involves putting people's money (and pensions) in the market at risk to the investor, really no financial risk of the banker exists.

When money is made on the return of the risk, the bankers have set up a system where they make a real return and get their money which is usually huge. The investor that is the risk taker gets a return that is usually on paper except they take the money out instantly at that point. The banker that has no risk (except reputational risk) makes a killing.

On the other hand, if the market crashes or wains a year later, they have already taken their share which is the real money part of the profit bundle but left the investor with the part wey oyinbo dey call "chimera". If money is lost, the bank has not lost a penny of its money as it has taken no risk with its money, is not going to be penalised for losing money and the investor takes 100% of the hit as the risk was 100% with its money.

wait, is this your understanding of how bankers make money?
make money on paper, take cut and leave the paper profit for the investors?

is that it?

slimshay:
V3 free dem abeg. Now i am very convinced Sharon holds limited-dummies-only english classes in the manscum thread, with their cloned-vocabulary, ninny!!! Jeez!!

this is hw not to write

u speaking in tongues?

BinghiNya:
If u don't get my point, find a long rope and hang yaself.

BinghiNya:
Are you depressed or deluded? Hope you are not starved? think straight and stop acting like a ninny.

lol

BinghiNya:
Mc Mugu,

I am here for a classless fella like you. You type without reasoning. None of your kids is good enough for United's female academy. Which of your first 11 would even get a starting jersey in United.

Wake up, ninny.

lol
Sagna, Fabregas, Asharvin and maybe RVP

all others will be in our team b. Vermaleen will be deputy to one of our CBs whenever they are injured

oyb
u no call us for ikomo
congrats man

Jarus
kpele o. ise ti poju
take it easy man

eastbay
im hooked on DSTV for the other programmes

im on Hitv for the soccer channels and Nigezie

im just optimistic they'll get there at one point

Look at the 9ja banks some years back and compare them with what we have now

its only a matter of time

i think Brown will be back but if he doesnt then im ok with Carrick

we'll beat Villa

slap ur gurl for wht?

u go fit beat ur mama be dt nau

[quote author=seun _ link=topic=363189.msg5083773#msg5083773 date=1260428876]well, i am not attempting to hide - and those that know me very well have recognized me from my writing style - except that
i dont normally insult, but since i am now a mindless clone - [size=28pt]SHUT THE FUC.K UP[/size][/quote]haha
ok sir

**edited**

who do we have back from injury?

i hope Brown, Vida, Rooney and Berba will be back

lets give it to them

4-1

[quote author=seun _ link=topic=363189.msg5083708#msg5083708 date=1260427887]wow, that is a very great line. i was banned but has been resurrecting as different kinds of seuns since then. . . .seun will ban
me again when he wakes up and i will reclone myself as yet another seun again - this is a vicious cycle - until my scores are
settled only then will i release seun's clones and return to my old peaceful self, until then fuc.k you all! op grow the fuc.k up![/quote]lol
i knew u must be one crase man cos i laffed truout yesterday readin ur posts

wht was ur original ID