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Human beings. We need food & shelter. After that, it really are just wants. Some want fancier houses. Some want cars. Some want exquisite wines, watches, holidays etc.. Our wants are unlimited. Our wants always exceed our needs. Why? Consumerism. Greed.
So bankers manufacture another product as demanded by society- CDOs. Speculators hoping to make a quick buck out of a spiralling property market. Mortgage houses giving them cheap loans. Investment banks helping to collaterise the loans. Ultimately the greedy investors themselves who demand such "high-yield" products. What's the cause? It is not the banks. It is Greed. Bankers are just manufacturing products that society demands. The better you are at it, the better you get paid. Quote:
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Also these Chinese & their IIT counterparts from India seem sufficiently happy to come and work 18hr days at the employment pass floor of $3000; in banks, IT etc. |
It is not a god given that a person deserve 60K or 80k pa just because he is from oxford.
To command any salary, you need to be able bring in value to the employer that exceed the salary you are commanding For a fresh grad who have no experience and no proven track record and probably still learning the rope for the 1st 2 years. Do you think he can bring in more than 80K pa of value As yourself honestly, if you are employer paying salary using your own money, will you pay 80K to a fresh grad (even an oxford one) with no experience On this basis I say 80k is overpaid. |
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The premium pay for these graduans are often considered locking fees. Granted there is no guarantee they will perform but there is an expectation that these people will be the captains of the industry and as a result paying a premium early on could yield significant dividends later on when developing, especially for blue chip companies.
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admissions assistant - only goddamn 30k pa
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recalculating, 27k pa.
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I don't know about GIC, but from what I know LSE and Oxford graduates that joined MAS and MTI aren't getting any more than the local gradautes. Around 3.8k I heard.
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