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It's a somewhat hard life being a financier because your pay is so variable. You might mock the I-banker who got "only" a 5-figure bonus, but what if he took ou
by Prrometheus 18y ago
It's a somewhat hard life being a financier because your pay is so variable. You might mock the I-banker who got "only" a 5-figure bonus, but what if he took out a mortgage in 2004 with his new wife on the premise that he would be making six figures? Variation is a cost of the lifestyle, and a stressful one at that. It is hard to make any long-term plans. On that note, it's rare to find bankers without family trouble, due to both the work hours and the financial issues.
- Retric 18y agoPlenty of people with highly variable pay save most of their income in the good times to deal with this. Dumping 80% of that 100k bonus into savings might not feel glamorous, but it's going to help your home life more than you might think. And down the road you can transition to a lest intense job and have enough savings to top off your lifestyle. PS: Then again spending more than you make seems is far more common among the highly compensated.
- gaius 18y agowhat if he took out a mortgage in 2004 with his new wife on the premise that he would be making six figures? I would have to wonder why he felt himself qualified to offer financial advice to anyone else.