Career Calling

March 29, 2014

How to get an 85% Raise

Run a big bank. Buzzfeed reports that James Gorman, head of Morgan Stanley, has been given an 85% pay increase, upping his income to $18 million. To put things in perspective, Gorman is credited with turning the company around, and he still makes less than Goldman Sach’s chief Lloyd Blankfein, whose annual compensation is $23 million. Still, in a time when most Americans consider a 3% annual raise to be normal, an 85% pay increase sounds like some people play a different game. That’s because they do. Momma, don’t let your babies grow up to be cowboys. Send them to a great MBA program that feeds investment banks. It seems that’s the only way to get ahead in 21st century America.

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