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Yeah, good point. Extreme salaries are oftentimes evidence of a high-leverage industry, where you want a limited number of the absolute best people, rather than
by ericd 12y ago
Yeah, good point. Extreme salaries are oftentimes evidence of a high-leverage industry, where you want a limited number of the absolute best people, rather than one in which you just need more people than you can get. CEOs, movie, and musical stars are other examples.
- ohazi 12y agoAlso in this particular example it's a zero sum game. The firm has so much money to gamble with, and the proceeds are distributed among the the bankers. More bankers --> smaller bonuses.
- dragonwriter 12y agoCEOs, movie, and musical stars are not industries. They are job titles/descriptions of the people at the pinnacle of certain career tracks (CEOs) or industries (movie/music stars) Business generalists, actors, and musicians generally -- the professions/industries as a whole, rather than just the titles at the top -- get paid a lot less.
- ericd 12y agoSorry, misspoke, but you know what I meant. Salaries are only absurd near the top of the software industry. It's certainly better distributed than those other industries, though.