The Observer 10th March 2013
interviewed eleven City of London finance workers to seek views on
the EU plan to restrict payouts. What was weird was the fantasy land
in which these people live - except it's not a fantasy, it is the
reality. One man in his 30's said “If you are a bog standard
trader you make maybe £400k of which £150k is base pay”. He
went on to point out that the cap would reduce his total remuneration
by £50k & that would not encourage him to move abroad. One other
in his mid 40's queried whether, if his pay was drastically cut by
this cap, he would want to go on getting up at 5a.m & not
finishing work until 8p.m. Can someone tell us in what other job can
a 'bog standard' 30yr old make £400k per annum? Anyone on average
earnings has to work for 15yrs to make £400k. And as for working
from 5am to 8pm a hell of a lot of cleaners, hotel workers &
others do that for less than a total of £25k per annum because they
need two jobs on mimimum wage to make ends meet. It is not the
politics of envy to suggest that this delusion in the financial world
about what a proper entitlement for effort is worth must be fixed.
Sunday, 10 March 2013
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