There was an article on CNNmoney.com that said the average Wall Street employee earned about 300k this year.
Any insights on the methodology of this figure?
Thanks in advance.
I wouldn't take it to heart. 48% of people know that 83% of all statistics are made up on the spot.
I would guess that they are lumping in a number of different professionals within that assessment, not just advisors (note: I may be captain obvious here).
Keep in mind that about 99% of the time someone mentions "working on Wall Street" they are referring to I-bankers, not brokers.
Exactly...and it sure as heck DOES include bonuses. I think they just take the total comp paid by the biggest x firms and divide by the employees. So the median is probably a lot lower since you're including all the staff people. I think a fourth or fifth year banker ouf b-school (so avg age of about 33 or 34) makes around $300k, but when you work 100+ hrs/week, you earn it.
I read an article about that, it said the average wall street employee
made 300k. The only way I can figure this is when you average somebody
making 10 million and then someone making 80k and then some others in
the middle I guess you get 300k.
I heard a report about the study on CNN. They also said that compensation for employees working ON Wall Street is growing faster than compensation for employees working in the rest of the country.
So the $300K figure only applies to a small segment of our industry.