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| Government |
| Guess Who Makes More Than Bankers: Their Regulators |
| 2014-04-23 |
| [ONLINE.WSJ] Long before George Bailey wrestled with Mr. Potter in "It's a Wonderful Life," the public decried the pay of top executives in large financial institutions. Overpaid bank executives are the villains in regulatory morality tales and feed distorted public perceptions about bankers' pay. It is true that the very top bank executives make more in a year than most of us make in a lifetime, but compensation of this magnitude is rare. Most banks in this country are small businesses and pay employees modest salaries. The Bureau of Labor Statistics reports that the average annual salary of a bank employee was $49,540 in 2012, not much higher than the average annual across all occupations, $45,790. Yet one group in banking stands out as highly paid--federal bank regulators. Before the Dodd-Frank Act, the average employee of a federal bank regulatory agency received 2.3 times the average compensation of a private banker. By 2013 this ratio increased to more than 2.7--and in some cases considerably more. |
| Posted by:Fred |
| #2 There is a world of difference between the responsibilities of a bank teller & those of a regulator. Who STEALS/HAS STOLEN more than bankers? Jon Corzine, maybe, but I think you all get the drift. |
| Posted by: Anguper Hupomosing9418 2014-04-23 14:41 |
| #1 I wonder how many of these guys are appointed as a political favor? |
| Posted by: Bobby 2014-04-23 08:08 |