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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsHow the 1 percent live - #1: Bankers Struggle at Washing Dishes
Penthouse parking, a new Versailles, a bat mitzvah bash in Aspen. Salon's guide to the travails of the 1 percent
http://www.salon.com/2012/03/21/how_the_1_percent_live/slide_show/1/
By David Sirota
Bankers Struggle at Washing Dishes
Most of us probably think a $75,000 annual salary is a pretty good deal in a nation where the average household income is far below that. Most of us also probably think that doing ones own dishes is not a form of economic persecution. But, then, most of us dont work on Wall Street.
In a pair of must-reads, New York magazine and Bloomberg News sympathetically quoted financial industry workers complaining about the crushing pain of life on Wall Street in the era of the slightly smaller bonuses.
The former article quotes an investment banker lamenting that the average $125,000 bonus which comes on top of an annual salary is only, after taxes, about what, $75,000?
My girlfriend likes to eat good food, he complained. It all adds up really quick. A taxi here, another taxi there. I just bought an apartment, so now I have a big old mortgage bill.
more hilarity at link
white_wolf
(6,238 posts)wouldn't that put them below the 1%, I thought it took 350,000 a year to be in the 1% category.
cbayer
(146,218 posts)Avalux
(35,015 posts)Independent of salary. What a bunch of spoiled rotten assholes.
badtoworse
(5,957 posts)cbayer
(146,218 posts)badtoworse
(5,957 posts)After taxes, that's probably about around $200K. Very good money, to be sure, but living well in Manhattan is very expensive. A NYC apartment is likely in the 7 figures, so his expenses are high too. Parking a car can cost as much as an apartment.
He certainly should not be whining, but I don't think that kind of money goes as far in Manhattan as many people think.
cbayer
(146,218 posts)salary.
And my daughter just spent a year there as a student.
She had an apartment in Harlem - small, but adequate.
She gave up the car, as it is totally unnecessary there.
Eating at small, often ethnic, restaurants can be done inexpensively.
This guy is living high. His girlfriend likes good food. He complains about taxis when there is an incredible public transportation system. He bought a condo (!?!?!) and complains that it is only 1,200 square feet and doesn't have a dishwasher. He has a second vacation home and whines about his kids fancy private school tuition. He has health insurance, funds a 401k, then has the audacity to complain that after those expenses and taxes, he brings home less than 200k a year.
Give me a break.
badtoworse
(5,957 posts)The second guy has the 1,200 sq ft condo. I thought he was over the top. The first guy, not as much.
cbayer
(146,218 posts)My daughter just spent a year there for under $20,000. It's not luxury living but it wasn't that difficult.
I loved living on a shoestring in NYC. There is so much to do for free or next to nothing.
These guys just make me sick.
hifiguy
(33,688 posts)not to mention the tar and feathers. Some assholes need an attitude adjustment.
Tallulah
(209 posts)and can't afford a cheap dishwasher ?