NY Bankers’ Salaries vs. Everyone Else’s

[Ichingcarpenter]

Via New York State Comptroller report.
That chart is from a new report from the New York State Comptroller’s office on the securities industry in New York City.

It shows that the average salary in the industry in 2010 was $361,330 — five and a half times the average salary in the rest of the private sector in the city ($66,120). By contrast, 30 years ago such salaries were only twice as high as in the rest of the private sector.

http://economix.blogs.nytimes.com/2011/10/11/bankers-salaries-vs-everyone-elses/

[woo me with science]

1. And we wondered where our money went. nt

[ThomWV]

2. Take note of what the average salary for the rest of the private sector

Anyone who tells you that you need at least $100,000 or more a year to live in New York is full of shit - the average is only about half of that much.

[FarCenter]

6. Families have to have two wage earners.

[Octafish]

3. Well, they gotta keep up with the inflation...

...they cause.



It's only fair.

[Scuba]

4. Well thank goodness for Reaganomics and dereg!

sarcasm thingy

[Romulox]

5. This is "socialism", US style. nt

[JDPriestly]

7. And a fair share of the money paying those salaries

is derived from the savings, the 401(K)s and the pension funds of ordinary Americans. The fat cats are taking too large a portion of the life savings of the rest of us.

Over the next few years, baby boomers will retire and attempt to draw on their savings to supplement Social Security. When that happens, we will discover just how horrible the theft of our assets has been and what a Ponzi scheme Wall Street is.

This is not going to be pretty.

There is no way that an couple with an average income and maybe two children can save "enough" (whatever that is) to retire in any comfort. Their working lives just won't be that long.

The Republicans would have you think that an ordinary working guy can retire and relax at some point, but that isn't so. You may retire, but you won't relax. Don't be fooled by the rhetoric of Cain and Romney. For most of us, success does not mean being comfortable in our final years.

[PETRUS]

8. K&R nt