by Paul Mampilly
The Sovereign Investor
On Wall Street, you know your company is minting money when it throws a fancy Christmas party. In good years, it’ll be at the fanciest restaurants or hotels. Limousines take you to and from the party. The finest steak, $500 bottles of wine and $100 cigars are served. After the regular party, exclusive post-parties pop up, and only a few select employees who make big bucks are invited.
At the post-parties, there’s just one topic of conversation: bonuses.
Asset managers, brokers and analysts (aka Wall Streeters) live for their year-end bonuses. That’s where someone can make three or four times their regular salary in a good year. In a great year, it might be as much as 10 or 20 times their regular salary.