Why Bankers are Bankers

Read this in the NY Times today about Goldman…

The Goldman Sachs Group reported today that it earned $9.34 billion this year, the most in Wall Street history, and that it would set aside $16.5 billion for salaries, bonuses and benefits for employees.

That figure works out to an average of $622,000 for each employee, although the payouts will be far from uniform: the investment bankers at Goldman who arrange mergers and acquisitions or sell corporate stock to investors will receive much more, and support staff and other kinds of employees much less.

$622,000 is the AVERAGE?!!! Holy jeepers Batman!

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