can't live on 150k-180k???

Discussion in 'Financial Cents' started by Tango3, Feb 3, 2009.

  1. Tango3

    Tango3 Aimless wanderer

    bonus's justified outrage falls on deaf ears.

    Compensation will vary based on each person’s performance — again, relative to the overall performance of the company,” Mr. Pandit said in a year-end memo outlining the bank’s pay principles in 2008. Of course, many Wall Street employees never expected the good times to end. They lived large, believing bonuses would always arrive, so they are ill prepared, both emotionally and financially, to cope with a sudden drop in income.
    “Without a doubt, $18 billion is a lot of money, but it’s a drop in the bucket on Wall Street,” said Gustavo Dolfino, president of the WhiteRock Group, a headhunter for the banks. “These bonuses are down, and the salaries are not enough for these people. They can’t live on $150 to $180,000, so they haven’t saved any money. They put it on credit lines and at bonus time, they thought they’d pay it off.”
  2. kckndrgn

    kckndrgn Monkey+++ Moderator Emeritus Founding Member

    As Dave Ramsey would say - "if you play with snakes you WILL get bit"

    I wouldn't mind living on $150k/yr, heck even at $100k/yr that would be a raise for me!
  3. dragonfly

    dragonfly Monkey+++

    Hey I'm not at all greedy, any increase over my current $12K a year works for me!
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