dreams deferred

  • 17 Nov 2014 at 10:00 AM
  • Banks

Bonus Watch ’15: Morgan Stanley

Not gonna be happy with this shit.Need a new car? New house? New lung? New wife? Brokers, be warned: You might want to spend your whole bonus next year in one place, but you will not be able to. Read more »

If you're good, that is.Unless that place is at the SEC cashier’s office, when your (probably former) employers are paying a fine that your actions helped incur. Otherwise, start planning to buy yourself something nice circa 2025. Read more »

But the factor the book did not predict…was the decline in pay, after the financial crisis. “I think we misdiagnosed the problem,” says a banker who has worked on how to retain young staff. “It’s not that the junior guys are working too much. It’s that the value proposition changed.” Not long ago, it used to be clearer cut – the work-life balance was skewed towards work but made more easy to swallow by large amounts of cash and stock. “It’s a terrible time to be a banker,” says the bank employee working on staff retention. “You are on the road three days a week. You are getting paid substantially less than you were getting paid five years ago.” Another senior banker admits he enjoyed his first $1m year before he was 30 – which was a realisable ambition for young analysts entering the trade a few years ago. Today, it is a long-shot. [FT via Lauren LaCapra]

  • 23 Jan 2013 at 12:54 PM

The McRib is Not the Answer

I don’t know what exactly it is a metric of—the economic crisis? healthier eating habits? better taste? the inexplicable success of that extremely annoying actress playing Wendy in the commercials? the cannibalization of its flagship product by the McRib?—but a McDonald’s milestone has been delayed.

According to leading economists and actuarial scientists (McDonald’s itself no longer calculates such things), Ray Kroc’s little hamburger stand was poised to sell its 300 billionth burger this year. But no more. Read more »