Are Bankers the only overpaid workers?

Discussion in 'General Discussion' started by Butts, 19 Nov 2011.

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  1. Butts

    Butts Established Member

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    One thing that has often puzzled me the reason Bankers seem to receive so much grief for being highly paid at times "we are all supposed to be in it together"

    Footballers many of whom earn money Bankers could only dream of seem immune from any criticism even when their team fails to win anything or get's relegated. My guess would be there are far more footballers on over a million pounds a year than bankers.

    Another category to consider would be actors and musicians who again seem immune to any negative comments on the amount they earn (unless they work for the BBC !)

    Any comments :p
     
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  3. SS4

    SS4 Established Member

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    Agreed on footballers although it needs to be remembered that, besides injuries and chronic damage from returning too early, a footballer's professional career is over by age 35 whereas, in theory a banker could work until retirement age.

    Politicians are overpaid too, not in the literal sense but in terms of what they can claim off of the public in addition to their salary
     
  4. EM2

    EM2 Established Member

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    The actions of footballers, actors and musicians don't ruin financial institutions where the ordinary public have their savings, mortgages and investments and don't force the Government to dig them out to the tune of billions of pounds.
     
  5. Zoe

    Zoe Established Member

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    Unless you are a goalkeeper or Teddy Sheringham.
     
    Last edited: 20 Nov 2011
  6. MidnightFlyer

    MidnightFlyer Veteran Member

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    Indeed, Burton Albion 'keeper Kevin Poole is 47 and still playing professionally.
     
  7. Seacook

    Seacook Member

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    No one is prepared to pay good money to watch bankers earning their wages; entertainers and sportsmen are another matter.
     
  8. Minilad

    Minilad Established Member

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    I am sure once Captain Speaking comes across this thread he will tell everyone that train drivers earn waaaaaaay to much. Especially in relation to bus drivers.
    I have often wondered why footballers get so lambasted for high earnings but music / film stars don't.
    And what really does my head in is the bonus culture. No problem with bonuses if they are tied to success but it seems the bankers and CEOs and such like get bonuses whatever happens
     
  9. SS4

    SS4 Established Member

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    I read it was something to do with bonuses attracting less tax than salary but I could be wrong so they're getting a bonus as part of their salary except in name
     
  10. Minilad

    Minilad Established Member

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    Oh I don't doubt its some sort of tax avoidance.
    And thats another thing. Why don't the Guv'mint close some of these tax loopholes to stop the rich getting away with paying their fair share
     
  11. es373

    es373 Member

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    Hello

    Train drivers are overpaid.... lets be honest.

    Without the unions they would still be on just-about-above-average wage.
     
  12. MidnightFlyer

    MidnightFlyer Veteran Member

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    I suppose bankers and sportsmen are so overpaid because the bank / club wants to keep them. The same can't be said for film stars / musicians though, can it?

    Run for the hills
     
  13. Minilad

    Minilad Established Member

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    Tell me why
     
  14. es373

    es373 Member

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    MATTE2010 - Started running ages ago but the drivers are too fat to keep up! <D


    XC - I have quite a few close friends who are drivers with various TOC's, I've been out quite a few times officially (and ill state this now so no one has a go, had permission from the TOC after making a request to follow a driver for the day) and there really isnt much to it..

    Okay so its a fair bit of responsibility to have but people who save lives for a living are on a less wage, people who are fighting for our country are on a lesser wage, so why should it be any different for someone pushing/pulling levers (even better when its a CTBC, less work ;) ) opening/closing doors and flicking MCB's for a living.

    If that doesnt tell you something then we are all doomed.
     
  15. MidnightFlyer

    MidnightFlyer Veteran Member

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    I'm not sure how you could get permission just to shadow your mate all day. Anyhow, that's quite a poor defence of what you said. No need to call all drivers fat either.
     
  16. Minilad

    Minilad Established Member

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    Oh well in that case you have convinced me. I will go and give half my wages to a nurse or a soldier seeing as they are much more deserving. Thanks for telling me how easy my job is though. I will bear that in mind
     
  17. Pumbaa

    Pumbaa Established Member

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    Relative to the rest of their industry, I think it is acceptable to argue that drivers are 'overpaid' and guards/train managers/everyone else is 'underpaid', especially when you consider the wage gap at privatisation.

    Where the blame lies though is a different question, was it a) drivers were historically underpaid through BR and privatisation finally brought along the right price, or b) privatisation did what private companies do best, strip off excess supply, poach to replace rather than go to the expense of training, and increase the price of drivers as a result?
     
  18. ANorthernGuard

    ANorthernGuard Established Member

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    Now Now everyone knows its the guards that do the real work lol


     
  19. Butts

    Butts Established Member

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    With all due respect not all the Banks were bailed out by the Government.

    Barclays and HSBC are not basket cases like RBS and HBOS et al.
     
  20. yorksrob

    yorksrob Veteran Member

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    I think that's spot on.

    If a Musician, or a footballer stops coming up with the goods they end up having to buy their pub or relying on their underware or sunglasses sales (if they're good looking enough). To be fair, some of the investment bankers are in a similar position. It seems to be the CEO's etc who can run a major company into the ground and move onto the next project with a golden handshake.
     
  21. Butts

    Butts Established Member

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    So does that exclude them from the "fat cat" category?

    Could they accept a reduction in already substantial salaries that could be used to cut admission prices for ordianary fans?
    --- old post above --- --- new post below ---
    What about Benitez two multi million payoffs in less than a year for failure ?
     
  22. yorksrob

    yorksrob Veteran Member

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    In that case you're probably right - he is rewarded for failure !

    (My knowledge of association football is limited so I'll happilly defer to those more in the know).
     
  23. anthony263

    anthony263 Established Member

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    Like A certain Banker who got a very nice pension even though He led the bank to near total collapse.

    This who short-term profit, money for failure etc is what has gotten this country or rather the western wolrd into this whole debt crisis.
     
  24. yorksrob

    yorksrob Veteran Member

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    Quite - I believe the banker in question was definately in the CEO category.
     
  25. Tracky

    Tracky Member

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    I don't believe all bankers are overpaid.

    If you have money you deposit it with bankers hold it and carry out instructions, giving them the opertunity to work with it to pay you a return while allowing them to profit, you pay brokers to advise and invest it, and you pay accountants to (legally) avoid - but not evade, tax.

    All jobs that need doing for the system to work. If they are done well, all concerned deserve a good income...
     
  26. es373

    es373 Member

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    MATTE2010 - Doubt as much as you like but its not like I'm your average joe public. Im staff. But being young, I presume, you are not staff?

    XCDRIVER - No harm intended! Just my opinion, of course we could argue every point under the sun until we are both blue in the face but it wouldn't get anywhere would it?
    Okay so I missed a few things out when I was "telling you about your job" but I can edit that if you want, would you like me to include route knowledge, rule book learning, traction learning etc? <D ;)
    --- old post above --- --- new post below ---
    good post there actually!
     
  27. Butts

    Butts Established Member

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    The Pension he received would have been based on the contributions he made and or was awarded by the remuneration c'tee or whatever they are called.

    It would not be related to performance that's what bonuses are for - whether legitimate or not is another matter.

    By the same logic you could argue that because Gordon Brown left the country in a mess he shouldn't get an ex Prime Ministers Pension.:p
    --- old post above --- --- new post below ---
    If you consider the "invisible earnings" that are made for the UK by bankers in what is Europes biggest Financial Centre then you are quite right.

    No one was complaining when things were going well - only when the sh*t hit the fan :p
     
  28. MidnightFlyer

    MidnightFlyer Veteran Member

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    I may be, but I know enough myself (inc. Various members of staff) to know that is not all they do.

     
  29. Yew

    Yew Established Member

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    Generally bankers getting bonuses are investment bankers. You know if they get a big bonus, they will have made a s**tload for the bank. No problem with that for me. However the papers don't seem to realise that.
     
  30. RPM

    RPM Established Member

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    I just knew from the thread title that drivers would get a mention! I (unsurprisingly) don't subscribe to the view that drivers are overpaid, but I will concede that we are quite well paid. The point that needs to be understood is that wages are not set on merit. Nobody is paid based on that they deserve. A whole host of factors determine wages. In the case of train drivers it is a combination of a strong union, a strong bargaining position, post-privatisation inter-company poaching and simple economics - it is so expensive and time-consumig to train new drivers that it is worth paying the existing ones a wage that will discourage them from making a career change.
     
  31. IanXC

    IanXC Emeritus Moderator

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    Absolutely. We won't mention Barclays bail out from a certain Middle Eastern Soverign Wealth Fund either eh ;)

     
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