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Signs that lower Wall St pay might be here to stay

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Current Student
Joined: 23 Jan 2009
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Schools: Fuqua
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Signs that lower Wall St pay might be here to stay [#permalink]

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05 Feb 2009, 08:27

Quote:
In their National Bureau of Economic Research working paper, Thomas Philippon of New York University and Ariell Reshef of the University of Virginia found that the difference in pay between finance and the rest of industry was slight, if any, except in the late 1920s to 1930 and then again from the mid-1990s to 2006. In those boom years, compensation in finance was 30 percent to 50 percent higher than in the rest of industry.

The Wall Street pay differential with the rest of the economy, Mr. Philippon said on Wednesday, is falling and destined to erode further. “It will go back to something more normal,” he said. “The only reasonable number is zero or very close to zero.”

Healthier for our economy and democracy, I'd say.
Senior Manager
Joined: 05 Feb 2008
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Location: Texas
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Re: Signs that lower Wall St pay might be here to stay [#permalink]

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05 Feb 2009, 17:05
I think it is too general to state that this will lead to a healthier democracy. I also do not believe that Wall Street will ever really get regulated. Only the people on the inside can correct the faultiness. The pay will most likely be higher, and the one's that are good will break out and make bank. Plus people on Wall Street make a lot compared to other industries, just due to the massive amount of volume I think.

I guess culture needs to change somehow on the street.
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Joined: 11 Nov 2008
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Re: Signs that lower Wall St pay might be here to stay [#permalink]

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10 Feb 2009, 02:05
So long as they offered some-sort of performance incentives that's sizable, I'd go with it
Re: Signs that lower Wall St pay might be here to stay   [#permalink] 10 Feb 2009, 02:05
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