and to think that all our collective commission pay for these outsized bonuses.... wonder what their diversity programs look like? wonder how well these funds are spread around? thinking that they are concentrated within a very narrow bandwidth of persons...
You have no idea how hard some of these guys work. No idea whatsoever about the average hours worked per week. No idea whatsoever. And I highly doubt that "our collective commissions" are paying for their bonuses . . .
...and the favourite lunchtime whinge is that comp at GS is actually much lower than its bulge bracket peers. Ex GS here too.
Dont equate long hours with hard work, people at GS and similar companies work those hours because they want to and because they enjoy it, not because they need to or because they have to.
Thank god I no longer prop trade so I can count idiots like businessman as my peer. This might be one of the worst quotes of all time. As I explained earlier, Goldman is a major investment bank. That means they have trading but also M&A, Structuring, Asset Management, etc... What does that mean. Well, when you hear about the long hours (and they aren't an exageration, as I have plenty of friends who have put in their 120+ hour weeks, and their easy 70 hour weeks) these most often apply to their investment bankers. Their traders still work longer hours than any arcade/props out there, but are more likely 5:30-7:00 ish (give or take) M-F gigs. Second off, long hours might not equate hard work, but if you don't think these guys (or any other Investment Banker) work hard, than you are both stupid and obviously have never met anyone in the business. Third, you are right to say it is their choice. It definitely is their choice. No one ever put a gun to any of my friends who are bankers (spare a few pushy parents). Instead they do it for the prestige, the money and the future opportunities (including first crack at the best grad schools and most other places in corporate america). But, very few actually enjoy their job, at least at the junior level (analyst, associate). Finally, to the individual who thinks anyone helps pay Goldman through their commissions, I hope your joking. The only reason Goldman even does futures is to keep the business of their big customers and to lay off risk associated with any one of the otc/exotic/structured/etc... products they have on the books. BTW---Congrats Bernanke and RIP Refco.
why do guys dislike the engineering field so much? I was actually wanting to dive into the engineering studies at my school.