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Category: Salary & Benefits

This Radical Move to End Wall Street Greed and Hubris Just Might Work

Not that long ago, most Wall Street banks weren't public entities but private partnerships. And so, instead of their names ending with a Co. or an Inc., they ended with an LLP. Which meant, among other things, if the firms were forced to pay fines for misdeeds, it wasn't shareholders that picked up the tab (because there weren't any shareholders) but the bankers themselves, which is to say the partners themselves. Read More >

3 Major Differences Between Consulting and Startup Life

Andrew Faircloth and Brent Macon were management consultants for three years (Andrew with Bain & Co., Brent with McKinsey & Co.). They started Primer Sports in August 2015 to help outgoing professionals use sports to connect with people in the workplace and beyond. Both are first-time entrepreneurs. Read More >

Raises at Wal-Mart: Why You Should Pay Attention

Wal-Mart is raising pay for the majority of its hourly-wage employees, according to a recent article in the Wall Street Journal. Great news for those people but hardly of much interest to the rest of us, right? But maybe it should be. According to the Journal article, the move will affect close to 1.2 million employees of Wal-Mart and Sam's Club stores. Want some context on that number? Read More >

Is Gender Pay Discrimination a Myth?

The gender pay gap is a tricky, emotive subject to deal with at the best of times. As a recent Freakonomics podcast makes clear, even the best-known statistic about it-that women in the US make 77 cents for every dollar a man makes-can be problematic when teased apart. To be clear: that ratio is more or less correct for the population as a whole. Read More >

Guess Which MBAs Earn the Most

Are you looking for proof that, the higher you go in an organization, the less likely you are to be a victim of pay discrimination because of your gender or race? Sorry about that: As the above chart from Bloomberg shows, even at post-MBA level, a pay gap exists not only between members of different racial groups, but also between men and women within those racial groupings. At the top of the hierarchy: white and Asian males. Read More >

How to Tell If College Is Worth It

In all the discussion over student debt and the question of how big a crisis the ever-expanding mountain of it represents to the future prosperity of today's students, it's often easy to overlook one key factor: not all debt is created equal. While expensive, the cost of a medical degree or an MBA can often be paid back more easily than, say, the loans for a MFA that doesn't necessarily lead to a lucrative career. Read More >

The Lifestyle of Private Equity Professionals

Once you've landed a job with a private equity firm, you can expect to experience some of the most interesting, fast-paced work in finance. The pay and benefits will be commensurate with this kind of work-but so will the pressure. Typically, private equity investments are high-stakes ventures; if you're helping to manage a billion-dollar stake in a major company, you'll be held responsible for the outcome. Read More >

Pluses and Minuses of Working in Private Equity

Since the turn of the century, the private equity industry has grown tremendously. Today, private equity firms worldwide manage some $3.8 trillion in assets, up from "only" $716 billion in December 2000. Broadly defined, private equity is an investment in a nonpublic entity or private company. The majority of the firms that invest in private equity (some 3,300) are headquartered in the U.S. Read More >

Are Student Loan Repayments the New Killer Perk?

Whoever is doing PR for Natixis Global Asset Management should get a holiday bonus: a new employment perk aimed at millennials has earned the firm more positive press this week than any HR-related story since that guy who set his firm's minimum wage at $70,000. In case you missed it: Natixis announced that it was going to start contributing up to $10,000 towards student loan debt for every employee who had been at the firm for at least five years. Read More >

Wall Street's First CHO (Chief Health Officer) and the Benefits of Leaving Work at 7

It makes pretty good sense to me that a healthier worker is a more productive worker. Fewer sick days, fewer cigarette breaks, fewer chocolate donut breaks, more effective when not on break, etc. It also makes good sense to me that if you nearly die from working too much and/or hitting the fatty tuna and Sapporo too hard that you should alter the amount you work, amount you eat and drink, and amount of time you spend on physical exercise. Read More >

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