Andrew Ross Sorkin has a wildly misleading article about Wall Street bonuses and salaries. He writes, “On average, a Goldman employee would receive $319,775. Similarly, JPMorgan scaled back compensation at its investment bank by 4.8 percent. The average employee — which includes secretaries and support staff in that calculation — gets $165,744.”
Mean, median, mode. A few people at the top of these finance firms make sick amounts of money, but that doesn’t trick down the ladder. The mega-salaries and bonuses of a few people throw off the averages.
But the rest of his article was more interesting. He said the graduates from Harvard business school are going into the tech industry and not finance.
Apt. 11d 