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  #41  
Old 13.04.2011, 11:18
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Re: What has the banker become?

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Now, this has to be the quote of the year
oh you took a shot at bankers, you're so edgy and cool.

just as a sample, 1/3 of harvard business school's class of 2010 went into finance.
http://www.hbs.edu/about/statistics/mba.html
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  #42  
Old 13.04.2011, 11:19
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Re: What has the banker become?

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BANKERS = investment bank employees whose primary function is to help sell companies either via IPO, merger or acquisition.

Investment banks also have a number of other functions, like sales & trading, market research, prime brokerage, and asset management (usually through subsidiaries) but those are usually not core functions.
The bankers that are hated are the sales and trading guys - not the IPO guys. The traders are the ones that came up with CDS - split them - repackaged them - traded them - split them - repackaged them - traded them etc etc.

IPO bankers are however a unique breed - who are - hmmm - difficult to like as individuals.
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  #43  
Old 13.04.2011, 11:21
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Re: What has the banker become?

Wunch of bankers!
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  #44  
Old 13.04.2011, 11:21
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Re: What has the banker become?

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B A N K E R !

if i ever started a thread attacking a profession, i would at least make sure i damn well knew what it was they did and who i was even bashing before i started typing.
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  #45  
Old 13.04.2011, 11:22
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Re: What has the banker become?

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oh you took a shot at bankers, you're so edgy and cool.

just as a sample, 1/3 of harvard business school's class of 2010 went into finance.
http://www.hbs.edu/about/statistics/mba.html
But thats probably the best proof that the banking world is becoming too all powerful. It attracts all the top talent for a reason. That talent is after the best earnings.It takes from the science and education profession although possibly not plumbing if we believe that nugget.
My opening point was is that role justified? To argue that banking is the best profession because it attracts the top talent is weak, it attracts the top talen because it pays hugely more than other sectors.That huge money is not earned oin a traditional sense as it is mostly paid for by high street earnings, using your money to speculate with a safety net.
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Old 13.04.2011, 11:22
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Re: What has the banker become?

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Wunch of bankers!
a word play on bankers and wankers? witty! *golf clap*
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  #47  
Old 13.04.2011, 11:22
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Re: What has the banker become?

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if i ever started a thread attacking a profession, i would at least make sure i damn well knew what it was they did and who i was even bashing before i started typing.
Never let facts get in the way of a good rant.
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Old 13.04.2011, 11:23
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Re: What has the banker become?

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if i ever started a thread attacking a profession, i would at least make sure i damn well knew what it was they did and who i was even bashing before i started typing.
If i was going to post a comment, i would make damn certain i read the opening post
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  #49  
Old 13.04.2011, 11:25
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Re: What has the banker become?

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BANKERS = people who take other people's money/investments based on promises of high returns, and then proceed to over-inflate the value of items based on pure whims and feelings (aka "the market value"), panic-buy or sell commodities , shares or other assets (aka "a run"), also, strangely enough based on whims and feelings, while taking none of the risk and putting it all on those who've given them the money, while making sure there's enough left in the pot for a slap-up lunches, fast cars and the annual bonus equivalent to a mid-size country's annual GDP.
Thanks for clarifying that, that's what I thought you said...

I guess it's nice if you can get the work, and as someone is willing to pay top dollar for it, then someone somewhere (with more money than me!) must see the value. I'm not going to complain or begrudge bankers (one of my best friends is a banker ), as I'm happy with what I earn, but please, don't come and preach about how much value bankers add, nor how hard they work.

Plenty of folk work harder for less reward in much shitier jobs.
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  #50  
Old 13.04.2011, 11:27
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Re: What has the banker become?

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If i was going to post a comment, i would make damn certain i read the opening post
i did read your OP and to quote you wrote:

"the money the banks work with is a small percentage their own capital and a huge percentage of , well your capital, so why should the bankers pay themselves so much."

all i did was point out this was inaccurate. i'm not often diplomatic and i wont sugar coat my words but i'm also not ignorant.
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Old 13.04.2011, 11:29
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Re: What has the banker become?

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a word play on bankers and wankers? witty! *golf clap*
I would ask what your major malfunction was but we have already established that you are indeed some sort of banker.

If money is paid for working long hours and stress maybe the bankers should spare a thought for the IT guys that not only write and maintain the systems that allow you to earn your "hard earned" money. When last did you call up one of your many IT support guys and say thanks for keeping me trading? You can often do it at 2a.m. because they are probably still at their desks.

P.S. I'm not one of these support guys but I have seen more than my share of bankers going off at some poor IT guy because of his own inability to use Excel.
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Old 13.04.2011, 11:30
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Re: What has the banker become?

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Plenty of folk work harder for less reward in much shitier jobs.
I'm trying hard to think of another profession where one can get away with losing millions of dollars of someone elses money with relative impunity and even collect an eye-watering bonus after the fact.
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Old 13.04.2011, 11:31
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Re: What has the banker become?

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i did read your OP and to quote you wrote:

"the money the banks work with is a small percentage their own capital and a huge percentage of , well your capital, so why should the bankers pay themselves so much."

all i did was point out this was inaccurate. i'm not often diplomatic and i wont sugar coat my words but i'm also not ignorant.
I think Scrambled that very comment does nothing to convince me that you know how banks work to be honest. Do you think that the current minimum bank capital requirement is more than 10 pct then?
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Old 13.04.2011, 11:32
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Re: What has the banker become?

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What I find most alarming is the perception of bankers on this forum, where the majority of the perceivers work in IT for the banks or for evil empire pharma companies/Nestle and the like. It's got to be jealousy.
Nestlé is a pharmaceutical company? I thought they made chocolate and candy.
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  #55  
Old 13.04.2011, 11:33
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Re: What has the banker become?

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Thanks for clarifying that, that's what I thought you said...

I guess it's nice if you can get the work, and as someone is willing to pay top dollar for it, then someone somewhere (with more money than me!) must see the value. I'm not going to complain, as I'm happy with what I earn, but please, don't come and preach about how much value bankers add, nor how hard they work.

Plenty of folk work harder for less reward in much shitier jobs.
i havent said anything on the value-add of ibanking or whether some people deserve their salaries or not.

yes, plenty of people work harder but these are exceptions. ibanking is a shitty job and people regularly work 100 hours a week, including weekends. you will never get harvard grads to do that unless you pay them very well. that's not an opinion, it's fact.
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Old 13.04.2011, 11:34
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Re: What has the banker become?

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Nestlé is a pharmaceutical company? I thought they made chocolate and candy.
The also make medicinal foods (and not of the homeopathic variety...).
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Old 13.04.2011, 11:35
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Re: What has the banker become?

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I'm trying hard to think of another profession where one can get away with losing millions of dollars of someone elses money with relative impunity and even collect an eye-watering bonus after the fact.
politician
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Old 13.04.2011, 11:37
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Re: What has the banker become?

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i havent said anything on the value-add of ibanking or whether some people deserve their salaries or not.


You sure? 'cos you said the sector attracts top quality (or whatever words you used - haven't gone back to check), which by implication means the salaries are justified.

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yes, plenty of people work harder but these are exceptions.
Really? No. Really? Do you get out much? I guess not if you're stuck at your i-terminal doing your 100 hr weeks...
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Old 13.04.2011, 11:37
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Re: What has the banker become?

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i havent said anything on the value-add of ibanking or whether some people deserve their salaries or not.

yes, plenty of people work harder but these are exceptions. ibanking is a shitty job and people regularly work 100 hours a week, including weekends. you will never get harvard grads to do that unless you pay them very well. that's not an opinion, it's fact.
I think that is a good example. When I last checked my bank charges, they havent changed in many years. However I no longer get to speak to a person that I know, in fact I believe now that some banks are charging for a written statement, using call centres to deal with joe P and if anything have reduced services by reverting to ibanking. I have no comment to judge whether ibanking is hard work or not, im sure it is, but the bank strategy is ,shall we say, reducing service and increasing profitability to the cost of the customer.
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Old 13.04.2011, 11:37
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Re: What has the banker become?

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I think Scrambled that very comment does nothing to convince me that you know how banks work to be honest. Do you think that the current minimum bank capital requirement is more than 10 pct then?
retail banking and investment banking are two very separate things. i gave you an explanation about what exactly an investment bank does. investment banks do not take deposits.
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