Income wall street has grown five times faster than wages in other areas of the USA


Real wages of the employees of the US financial sector for 25 years (from 1990 to 2014) increased by 117%, while all other industries in the country, the growth of wages amounted to 21%, according to Bloomberg, citing data from the Bureau of labor statistics of the United States.

The average income of an American banker or broker in 2014 amounted to about $264 thousand Is 5.2 times more than received in the same year, the average American working in other industries, is $51 thousand is The largest income gap is noted in new York, according to Bloomberg. According to the administration of the chief auditor of state Thomas DiNapoli, the income of the employee of the new York investment Bank or financial company on average in 2014 exceeded $404 thousand Is 5.6 times more than the average income of the employee all other private companies new York — $72 thousand

Despite a substantial reduction in payable to brokers and bankers bonuses (compared with 2006 a decrease of about one third), the difference in income between financiers and the rest of new Yorkers even more now than it was during the heyday of the Occupy Wall Street movement, says Bloomberg. Interviewed by the Agency experts note that the dissatisfaction of the masses are trying to use all of the major participants in the ongoing U.S. election campaign.

“The question of difference of wages as causing the greatest response of voters is at the forefront in programs [Donald] trump and [Bernie] Sanders,” said the head of Challenger, Gray & Christmas John Challenger.

In turn, representatives of the financial industry say that the wage cuts will prevent the banks to hire the best in their field specialists, in particular, will further reduce their attractiveness to graduates of Columbia and Harvard universities, who increasingly prefer to seek employment in Silicon valley, not wall street. Collected Bloomberg data of universities show that, over the past five years, the share of Harvard graduates who went to work in the financial sector, decreased from 10 to 5%. The proportion of graduates of Columbia University, gone into Finance, for the same period declined from 27 to 16%.

“Graduates of business schools don’t want to do Finance. They want to do something else. We are already below the equilibrium point, and if the wages will not grow, the industry will not get her own talents that will make her less competitive,” explained managing Director of Johnson Associates Alan Johnson.