Low bonuses hurt NYC RE

C0C0, you are the problem, not the opinion leader.

So happy bonuses are lower so it will have a direct impact on nyc re prices.
Maybe another 2-3 more years of this and prices could be down another 50%?

Signing off,
W64thstreet

NYC banker survey

http://www.businessinsider.com/why-bankers-dont-feel-well-paid-2013-3?op=1

I would have fired the person who made these charts in that NYC banker survey. For example, in that New York Basic Salary chart, the description said "0% respondents receive 300,001 - 350,000". However, there was no such bracket in the chart. In fact, they showed "some" getting salary of "310,000 - 380,000" and some receive "380,001 - 460,000". The 0% lies in the range "460,001 - ...". Well, unless the "300,001 - 350,000" description range was in British pounds and the X-axis was in US dollar. In either case, it was a lousy publishing work.

The studies are available that more people are moving to NYC. Low bonuses are not going to override population increases.

The chart and its scales make sense once you figure out that the whole thing is based on British pounds. The first "block" is zero to £50,000 in all cases, but when they talk about New York, they convert that to $75,000, and when they talk about Singapore, they convert it to SGD 95,000.

The conclusion that New York bankers are somehow "the worst-compensated" is very dubious. NYC has the fewest respondents at the "low" end of the base salary spectrum. In Singapore a whole lot more people make £50k ($75k; SGD95k) than any higher salary, and a whole lot more people get paid in that range than bankers in NY or London. It seems to me that in New York, as long as you get above the very bottom rung of the ladder, you're going to be earning more than $75k per year and will be doing better than your compatriots in the other two cities. (Also, for comparison, since I'm in a related field: in Tokyo almost no one under about age 45 makes $75k in finance, or at any job. You will put in your time and pay your dues before you reach that height.)