The fallout from the financial crisis has already changed the way much of America views Wall Street. It may also be changing the way the financial industry views itself.
After years of huge paychecks and bonuses, financial industry workers are seeing their compensation capped and cut thanks to anxiety surrounding the global economy and oncoming regulations. But when a salary or bonus can serve as evidence of an accomplishment, it's disappearance can also amount to an erosion of self-worth.
"There's no other industry where you could get paid so much for doing so little," an ex-trader for Lehman Brothers told New York Magazine as part of a piece about the changing dynamics of Wall Street. Though the former Lehman trader may be one of the first Wall Street workers to express that sentiment in print, he's echoing the views of others….
Read more at http://www.huffingtonpost.com/2012/02/06/wall-street-pay-cuts_n_1257872.html
No comments:
Post a Comment