What explains the surge in bankers’ pay? Bigger profits not bigger brains | Torsten Bell
TheGuardian
JUNE 12, 2022
Aptitude tests show that while City types are more clever on average, that alone doesn’t justify their soaring salaries I cycle into the office past the massive townhouses of Islington in north London. Totally unrelatedly, the thought often flashes into my head during the commute: why do bankers get paid so much? Maybe those wages reflect the industry attracting the brightest minds, who then do much more productive work than the rest of us.
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