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America's Factory Towns, Once Solidly Blue, Are Now a GOP Haven

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posted on Jul, 25 2018 @ 03:14 PM
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a reply to: Edumakated

Doesn't that really depend on the brokerage?




posted on Jul, 25 2018 @ 03:14 PM
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a reply to: neo96

It was you that came up with $46k number after factoring in taxes and cost of living. I make less than that before factoring in anything and I live in an area with a higher median household income than NYC.

So yes, I'd say they're highly paid.



posted on Jul, 25 2018 @ 03:16 PM
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Democrats should understand a harsh reality, their economic policies throughout the last 25 years have been detrimental to our country.


That's clearly been proven throughout this thread.

A person making 70k is 'bad'.



posted on Jul, 25 2018 @ 03:18 PM
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originally posted by: neo96



Democrats should understand a harsh reality, their economic policies throughout the last 25 years have been detrimental to our country.


That's clearly been proven throughout this thread.

A person making 70k is 'bad'.
the actual non intern jobs pay much higher for finance. Nobody said it was “bad,” we are saying it’s higher than the majority of industries especially for entry level.



posted on Jul, 25 2018 @ 03:33 PM
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originally posted by: neo96
a reply to: Edumakated

Doesn't that really depend on the brokerage?



It depends on the group profitability within the bank. The "bulge bracket" such Morgan Stanley & Goldman Sachs tend to pay similar. Some of the smaller, but highly prestigious banks like Lazard, Greenhill, Blackstone et al might actually pay more.

It boils down to how much money the particular group is making. The majority of the comp is in year end bonus.

They make a lot because they bring in a lot revenue/profits. The role of the Managing Directors/VPs is essentially sales. They go out and bid/win deal work. So when you hear of a big merger, various banks are bidding on advising and structuring the deal. So a $50 billon merger might bring in $3.5 million in fees (IIRC, the standard fee is 7%).

Traders get paid based on their profitability. This is why some of them can make so much more than the M&A and other bankers. A trader brings in say $50 million in profits, it is nothing to pay them say $5 million for their efforts.

The work is boring and the hours suck, especially at the analyst/associate levels. Yes, the money is good but you basically will live to work instead of working to live.

So yeah, a newly minted college student could be making $100-$150k a year or two out of college, but they will also be working near 100 hour work weeks pretty regularly.



posted on Jul, 25 2018 @ 03:45 PM
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a reply to: neo96

Nobody said it was bad. But at the same time an intern making more than the median household income isn't exactly the target demographic when it comes to worker rights.

It's the factory workers and miners. The people that work long hours in dangerous conditions for little pay. You know, the people Trump and the GOP supposedly care about.

Thanks for proving that wrong though. Who they really care about are the Ivy League graduates making more than most families in America just as an intern.



posted on Jul, 25 2018 @ 03:45 PM
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a reply to: Xcalibur254

BULLS**T


The reason mining is safer is because of workers like my Dad and Grandpa who downed tools and walked out. They stood on picket lines, even when the hired muscle " strike breakers" came in with axe handles, chains, baseball bats and even guns. THEY stood their ground to get better pay and safer working conditions, not some fu**ing politician.



posted on Jul, 25 2018 @ 03:56 PM
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Internships are typical 3 month positions during the summer. They are paid on a scale that typically mimics the full time position. The banks are seeking to hire the interns for full time after graduation, so they pay them as such.

What I actually find funny though is that it is the liberal industries like fashion, entertainment, publishing, etc that screw over interns. Wall Street at least makes an effort to pay their interns a "fair wage".

On the other other hand, the above industries basically expect you to work for free as an intern a la "production assistant". This is why these industries are filled with ditzy fashion oriented girls living off mom & dad.



posted on Jul, 25 2018 @ 03:58 PM
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a reply to: efabian

What you describe is happening in my home state of Michigan big time. People are sick of democrat oppression. They love being respected, and empowered, as Republicans are enabling.
edit on 7/25/2018 by carewemust because: (no reason given)



posted on Jul, 25 2018 @ 04:08 PM
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a reply to: DAVID64

Strikes and unions originate with the far Left.



posted on Jul, 26 2018 @ 03:23 AM
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a reply to: DAVID64

And which political party has been supporting worker rights and unions while not passing union busting laws every single chance they get?



posted on Jul, 26 2018 @ 09:48 AM
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This is the one thing, a lot of finance people put in similar hours to doctors and lawyers, such as 100 hours a week.

You have to be money motivated as it will take over your life.
a reply to: Edumakated



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