good article for all the wall st haters

[The Dad Fisherman]

Maybe Bill only gets $250k a year bonus and instead of $500k and sticks it out with JP Morgan....things turn around and Bill goes back to normalcy after a few years. Your article just said the Bonuses went down....not that they were eliminated.

Let's look at another Scenario...We'll take an IT guy and will Call him "Kevin". Kevin works for a company where he is the Only server/network guy there.

Kevin works until 3 am some nights fixing the servers and databases of people like Bill who don't know how to play well with their equipment. Some mornings Kevin's home phone rings from the Office in the UK and wakes his wife...he goes in at 4 AM to fix problems for these people. Kevin Works Weekends. Kevin does not make close to $100k a year and he does not recieve a Bonus, to help with the added stress of Weekends, late nights and early morning hours as well as the responsibility of all of the Corporate data.

Kevin keeps network running at over 99% availability for 7 years....only misses 1 day of work in said 7 years. Kevin then gets laid off so Company doesn't have to spend $40k on new server room, Bill continues to make his $500k Bonus.

Kevin has NO sympathy for Bill, Lenny, Bill's nanny, Bill's landscaper...or the employees at the Marina, Health or Golf Clubs. Kevin worries about his wife and kids....period

if Bill decides to Go to Brigham and Womens to be an administrator then So be It.....he can also go to any number of Companies, Even other Investment firms that will appreciate his Cream of the Crop Status, and do Sales and work hard to keep his lifestyle.....Once Again Capitalism at Work.

[RIJIMMY]

all good points, but my response is based on limiting bonuses and salaries for Wall St. It has downstream implications and punishes those that had nothing to with the downturn. All though you have no sympathy for Bill's nanny, etc, you WILL be paying for them via the bailout. I think its better to have them work vs have them receive $.

My advice for Kevin is to get out of IT. Its a thankless job.

[Back Beach]

Originally Posted by RIJIMMY

My advice for Kevin is to get out of IT. Its a thankless job.

In my opinion, its the best move Kevin could make if the job isn't a good fit for him. Obviously there are drawbacks, but Kevin may want to consider something with a lower starting comp, but with a greater fit for his lifestyle. Is it difficult to do? YES. Impossible to do? NO.
I just attended a great leadership workshop where the presenter emphasized "getting out of your comfort zone" in order to realize your maximum potential. In other words, don't look for excuses not to do something, find a way to make the changes you need. Don't let age,routine, or the old "I've always done it this way" mentality stand in your way.