Like Tree10Likes

Investment Banking Analyst Salary

Closed Thread
Page 20 of 20 FirstFirst ... 12 17 18 19 20
  1. #191

    Join Date
    Mar 2006
    Location
    Hong Kong.
    Posts
    1,355
    Quote Originally Posted by Geoff:
    Honestly, I have got better things to do that explain this to someone who demonstrates on every other thread that he has a closed mind and rarely ever changes his view.

    Keep your mind closed and don't bother to educate yourself, or use Google and try and find out why gold has been used as a currency for thousands of years by hundreds of civilizations across the world.

    You can carry on believing you're right and they're all wrong if you like, and that gold is just like paper money.
    Actually FOTH has a completely valid point on this issue. Let's break this down:
    1. Both barter trade and various forms of currency have been used in many, many economies around the world through the centuries. Virtually nobody in economics would argue that the latter is not superior in theory or that this superiority has been demonstrated consistently in practice.
    2. Of the various forms of currency used (shells, gold, fiat money, etc.), fiat currencies are generally accepted to be superior because of a number of reasons, including efficiency of transactions, relatively low cost of production and storage (of physical currency), relatively high difficulty/cost of forgery, etc. The limited supply of gold and other commodities is pretty much irrelevant to their use as a currency (and in fact possibly a disadvantage) - and the alternative uses/inherent value are certainly a disadvantage when used as a currency.

  2. #192

    Join Date
    Jun 2005
    Location
    Hong Kong
    Posts
    23,205

    Thanks beachball.

    I think, as with so many things, the late, great Douglas Adams highlighted the underlying problem with physical currency. With thanks to The American Spectator

    Arthur Dent discovers, during his time travels, that when the human race first alights on the planet earth, the first finance minister solves the pressing question of what to do to get money by establishing tree leaves as currency (just the kind of expansionary policy that Bernanke would beam majestically on).

    "But, we have also run into a small inflation problem on account of the high level of leaf availability. Which means that I gather the current going rate has something like three major deciduous forests buying one ship's peanut. So, um, in order to obviate this problem and effectively revalue the leaf, we are about to embark on an extensive defoliation campaign, and um, burn down all the forests. I think that's a sensible move don't you?"

  3. #193

    Join Date
    Apr 2009
    Location
    Lake Silver
    Posts
    228
    Quote Originally Posted by dipper:
    Sorry but you've got it completely the wrong way round. As an entrepreneur (you must have heard of us, we're the people who take real risks with our own money and don't expect the government to bail us out if we make a bad decision) I can tell you that it's precisely real risk-takers who are most annoyed with the banking industry.
    do you know how many times airline industry went belly up. gov has bailed out auto, airlines, retail etc. unless you consider these companies are in the banking industry as well. btw, farmers are getting bailed out every year with agricultural subsidy. don;t forget to count anti dumping tariff that gov use to bail out their own strategic industry. entrepreneurs getting bailed out all the time.

    when you start your own "real" business, did you started it with all cash or you have to borrow money from someone. if you got funded, then you're gambling with other people's money. simple as that. only people with no credibility go all in with their own pocket money. (your mom/dad/uncle/wife's money count as other people's money too)

  4. #194

    Join Date
    Apr 2009
    Location
    Lake Silver
    Posts
    228
    Quote Originally Posted by dipper:
    Don't worry, in the real world farmers avoid buying pork futures as it adds no value to their business, just generates commissions for traders. As you state, it reduces their profits or reduces their losses, but adds no value, and is a net loss because of trader fees. It's just parasitical on value-generators with cashflow problems (much like loan-sharking).
    this type of thinking gets you into cash flow problems in the first place.

  5. #195

    Join Date
    Aug 2009
    Location
    Hong Kong, Central
    Posts
    101

    I am a banker lol, and I must say a lot of you have far too much time on your hands, we are paid well for various reasons, but exc. bonuses as an hourly wage, we're pretty much shop assistants. If you worked 16 hour days you'd want double the wages you would otherwise get normally, and the bonuses, well that about makes up for the weekends and holidays I've sacrificed and the fact that due to a Blackberry when I get home I'm still working, so I think I deserve a pretty good nightlife when I finally do get to go out

    Anyway that's my two cents. If the op wants to get an idea of average salaries, I would recommend you go to the careers sites such as Hays or Reed HK as they publish yearly salary surveys or alternativly use a site like glass door.

    Al

    Last edited by perpetual; 22-02-2010 at 07:05 PM.

  6. #196

    Join Date
    Oct 2005
    Posts
    14,414
    Quote Originally Posted by perpetual:
    I am a banker lol,
    The Pink shirt with white collars is a total give away without you having to admit to one, Its so Banker Attire.