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Are you only in it for the money?
16 June 2009COMMENTS
Finance allows you to get where you're going, just a lot faster and in slighly worse condition. Why not earn a lifetime of money within ten years? Read all comments »Admittedly, we’ve asked this question in various guises in the past, but US Treasury Secretary Tim Geithner has inspired us to ask it again.
According to DealBook, Geithner ducked a question this week on whether bankers are driven entirely by compensation. Asked whether this was so, he said –
’ That is a very interesting question. I’m not going to answer that question. I think it is hard to judge motivation on these things.”
Can you help Geithner judge bankers’ motivation? Are you motivated by anything other than the size of your cheque? Please elucidate below.
COMMENTS
CR, Derivatives, Fri 19 Jun 09
Im in it for the glamour, fast cars, easy women and magazine deals.
Add your comment »Carl, Corporate Banking, Sat 20 Jun 09
Very shallow comments here, I must say. Money and compensation attracts you to the financial world, but remember, people are different. I do what I do in the banking sector because of the money I get of course, but also because I love the meritocracy that I experience in my company, while I'm coming from a country where all that matters is who you know.
I also think the question is a shallow question in itself, because it doesn't consider the diversity of roles one can play in the financial industry (from trader to relationship manager to customer service), and the diversity of each individual's aspirations and motivations.
Alex, Private Banking / Wealth Management, Mon 22 Jun 09
Absolutely. This is certainly not a 'fulfilling' profession, is it? We are not really making wildlife documentaries in the Amazonian rainforest or saving children from tyrants. If the money element is removed this would be an extremely boring work.
Add your comment »KK, Hedge Funds, Tue 23 Jun 09
'If the money element is removed this would be an extremely boring work.'
If the money element was removed people would look to other jobs, eg:- MP
competitive idiot, Investment Banking / M & A, Wed 26 Aug 09
Money is a strong motivator to get into finance, but not always what keeps you in there, especially at times like these (i.e. there is not much money to be made).
Some people just hate to fail and you are made to believe that leaving (unless it is to better paying jobs) means failure. Then, you suddenly find you missed out on those "best years" and realize there is no point inaiming at a better work life balance. That's when the fear starts.