Given the level of bad press that bankers have ‘enjoyed’ since the global financial meltdown of 2008, one would think that most of them would be doing everything they can to keep their heads below the proverbial parapet and just get on with their jobs.
A report emerged this week, however, detailing a survey that suggested that almost 70% of bankers believe that they are not paid well enough.
Now, while we wouldn’t wish to tar everyone with the same brush, on what planet does bringing the economy to its knees result in people being rewarded with an even more generous remuneration package?
We’re So Sorry
If the salaries that these people earned were more ‘real world’ in the first place, then there might be at least some modicum of sympathy, but the fact remains that almost everyone working as a banker earns more than the average salary level in their own country, some before they have even undergone any formal level of training.
All of that adds up to one thing, and that is people showing as much concern for bankers as UK residents did to the news that Justin Bieber has vowed never to return to the country. Whatever shall they do next?
Of course, we all know that there are a range of options for a person to take if they are not happy with their salary, but whether private schooling and a top tier university education taught these people a sense of logic and common sense, we don’t know for sure.
Find the Boss
The unhappy banker’s first port of call could always be their boss, especially if they are working in a public company and are able to get hold of what they earned, including bonuses, in the last year.
Why not try to oust them from their role, or tell them that what they earn is immoral, and that as a point of principle they are resigning from their position at once, and going to volunteer at the local charity shop or hospital for children with cancer?
Alternatively, they could just seek a role at a competitor that would pay a similar amount of money. There is no better or more effective way to play office politics than to drop your current employer in it to join their hated rival in the next tower block.
Grab yourself an office that overlooks your old place of work, too, and bathe in your sense of glory with your extra few thousand a year and sandwiches, coffee, and doughnuts hand delivered to your desk at various points throughout the day.
You Earn What You are Worth
Unfortunately, what most bankers know deep down inside is that they earn what they are worth, and even that is probably erring towards the generous side.
Any of the options above are unachievable, simply because if they tried to leave, they would be allowed to, and no-one else wants to employ them anyway. Instead of moaning, perhaps keeping quiet and doing something about their problem would be the best option.
But then, if they had a penchant for doing that, the economy wouldn’t be in a mess in the first place.
Robert Rayford is a finance expert who regularly writes features related to the industry, such as how private equity software and other tools can be beneficial to investors and other finance professionals.