by Tyler Durden
There
was a time when working on Wall Street, either on the sell or buy
side, was the dream of every able-bodied worker who could do simple
addition in their head and wasn't afraid to cut the occasional corner
in exchange for a bottle of Bollinger and a sizable year end bonus.
That, however, was so 2006 and with the long overdue conversion of the
banking sector into a utility the stratospheric compensation payments
from the peak of the credit bubble are long gone. So what is the New
Normal dream job? Become a California state worker, preferably one who
deals with neurotic and/or crazy people (i.e., a psychiatrist), and rake
it in. The following chart from Bloomberg shows just how generous the
otherwise insolvent state of California is when it comes to paying its
public servants, and the 100%+ increase in California employee state
pay since 2005. Needless to say, this is a rate of increase in
compensation that 99% of workers in the private sector would die for.
http://www.zerohedge.com/news/2012-12-11/go-west-young-man-new-normal-dream-job-california-state-workers
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