Chart: Employment and Wage Trends in New York City (including on Wall Street)
By Global Macro Monitor
Great data from from the BLS. The average annual wage in New York’s financial industry more than tripled from 1990 to 2009. These numbers, even though employment in the industry declined by close to 20 percent, make us want to occupy Wall Street, not in the tents but on 33rd floor!
Because most cannot, however, this is one of the reason they’re camped out in Zuccotti Park and no doubt the data provides them more ideological ammunition. Stay tuned.
From the first page of Liar’s Poker:
“…Gutfreund’s [John Gutfreund, Chairman of Salomon] cigar droppings were longer and better formed than those of the average Salomon boss. I always assumed that he smoked a more expensive blend than the rest, purchased with a few of the $40 million he had cleared on the sale of Solomon Brothers in 1981 (or a few of the $3.1 million he paid himself in 1986, more than any other Wall Street CEO).”
For comparison, CPI calculator shows that $1.00 in 1986 is equal to $2.07 today, so that would make $3.1 million equal to about $6.4 million today.