Lunchtime Links: Is 200k really a lot of money?

21 July 2009

2 minute read

Lunchtime Links: Is 200k really a lot of money?

Liberal Democrat treasury spokesperson Vince Cable has added a few of his own proposals to the banking reform debate. Most notably, they include the suggestion that all bankers earning more than 200k should be named and the details of their compensation revealed.

Cable appears to have selected 200k as the cut off point for naming (and shaming) as it's the salary of the Prime Minister. It's also around six times the average UK household income at the last count. However, 200k isn't unheard of for a first year associate. If Cable's proposals were enforced (unlikely), the resulting list is likely to very long.

"One of the consequences of this [the Tory reform plans] could be that Barclays would choose to spin off Barclays Capital. We are relaxed about that." (Independent)

Maybe Diane Jenkin's flamboyant ways weren't so good for her husband after all. (Dealbook)

Obama says bankers feel no remorse. (Reuters)

Goldman has absolutely no plans to give up its status as a commercial bank. (Dealbreaker)

Hedge fund execs moving back to banking. (Dealbook)

Moelis & Co hires Caroline Silver, formerly vice chairman of EMEA Investment Banking at Bank of America Merrill Lynch. (Yahoo)

Deloitte has hired 100 people and seven new partners for its insolvency practice so far this year. (Bloomberg)

Chinese university graduates haven't got jobs after all. (CNBC)

Ex-Lehman banker spent entire year looking for something new. (Wall Street Journal)

Buy it now: Brand new Lehman Brothers T shirt, free shipping. (eBay)

AUTHORSarah Butcher

Global Editor

jo
john adams
27 July 2009
200k is a lot of money in the 'real world' according to the bbc.co.uk
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Pa
Paddy
23 July 2009
Vince Cable say 200k is the salary of the PM, i would say GB receives much much more than this, dodgy expenses, never ever having to put his hand in his pocket for anything like, utilities bills, food, travel, accommodation and everyday expenses. MP's are on more than 200k pa and what on earth do they produce?...nothing
A half decent trader and banker will at least make double his 200k package for his house. What does an MP produce, save scorn, derision, public antipathy??
Stop calling the kettle black Vince.
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No
Not Finance PhD
22 July 2009
Ex-Analyst - hard to believe you made so little... I am less qualified than you (at least on paper) and more than twice than you in my first year...
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AR
A Recruiter
22 July 2009
Of course 200k is a lot of money when one cosiders that only 1% of the population have had an opportuntiy to earn this amount.
Those foolish enough to claim otherwise because of the assumed ease they have in earning this amount again are in for a nasty suprise in 2010 & 2011.
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RB
RBS banker
22 July 2009
If a miracle happens and I earn 200K this year, I would be proud to be named and shamed!!
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