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by lucozade
3497 days ago
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> It's not really clear to me why investment bankers earn such huge fees You can think of investment bankers as salespeople. They sell very high value products in very competitive markets. Whether you think that salespeople do an important job and/or a job that should be paid commensurate with the value of the product is a matter of opinion.Having spent a lot of time with salespeople when I was last in a startup, I have a lot of respect for folk who could do a job that I would most definitely, spectacularly fail at. YMMV. |
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I agree. That's exactly how I think of bankers.
You actually have the same problem come up with other sales people too. If I'm buying a $100 million product from you, I'm probably buying it with other people's money.
I don't care that $5 million of that is going towards the sales person's bonus, taking me out to dinner, etc. I'd rather pay $100 million and have you buy me a $1000 steak dinner than pay $95 million and not even get a birthday card. Of course I want my HBS classmate to handle my account.