Bankers

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Across the board, bankers provide services to facilitate a variety of financial transactions and help clients to take advantage of a range of financial products, such as loans, bank accounts.

Bankers, as we know, play a really interesting roles within the banks and the financial crisis.

Our economy gave a huge space of freedom to the bankers (especially the bossess).They recieve a large amount money as their salary which increases aproximately every month.It may depend on how hard they're working but the procedure doesn't work the same for most other busy workers.Take teachers for example; they actually work hard handling so many things in so many different ways but their salary is not only less, but also the amount never goes up.Which means there is not much value for teachers, however if someone is in a higher post within the schooling industry then their salary may be quite decent.

That was just an example to explain the unfairnes that our society is accepting.This is mostly because not many people knows how banking system works. I do understand the difficulties bankers may face at one point but what about the others who faces difficulties and risks at most of the time? Even if they have been payed a high rate, do they increase?By mantaning the same level of salary (depending on your work within the bank) the economy will improve and bring a helpful change. The saved money can go to places like: hospitals, charity or other useful places.

And do bossess actually work harder than the indiviual bankers? This question should be asked because as an induviual banker, you need to advise to commercial and private clients. They would explain about a variety of financial matters and promote financial services/products. They help to set up a savings acount, authorise loans and transport money.This is all to help their clients and to make them succeed their operations.Average starting salaries for corporate investment bankers are around £30,000 to £40,000. After three or more years, this rises to up to £50,000. Those with significant experience may earn a base salary of around £150,000.

These informations are needed to answer the question of Does bankers actually take action to improve for more safety and Do they need that much money for what they do?

What are your opinions on this. Does bankers (including the bossess) do extra than what we know?

Comments (18)

  • Olivia-Avatar.jpg Olivia @ the BNC 1 week ago

    This is post is full of Burnet News Club skills! Well done for showing great curiosity in the questions you ask and for researching this topic.

    You're right that bankers get paid a lot of money and that a teacher's salary is less than this. Bankers may receive a bonus each year, which means that if a bank makes lots of money they give a percentage of their profits to their workers. This is on top of their usual pay. Teachers don't get a bonus, however their pay does go up. This will depend on how much experience they have or if they take on extra responsibilities (such as being in charge of a subject).

    I think you have asked great questions and look forward to seeing what other people say in response!

    Reply to this comment
  • St-Josephs-Northfleet-logo-250x250.jpg unique_cheetah
    St Joseph's Catholic Primary School, Northfleet 1 week ago

    I agree that bankers should not get £150,ooo that is way too much. They should do more safer lending first. That is how the financial crisis started. They should get more money for lending safely.

    Reply to this comment
  • Evelyn-Street-logo-250x250.jpg decisive_dog
    Evelyn Street Primary School 1 week ago

    I am not so sure bosses give bankers freedom, is there a link that you trust that you went on?

    Reply to this comment
  • Millbank-logo-250x250.jpg poetic_camel
    Millbank Academy 1 week ago

    I agree that bankers should not get £150,000 . But there is a good point as Bankers endeavour to earn this achievement.

    Reply to this comment
  • St-Gregorys-logo-250x250.jpg entertaining_tangerine
    St Gregory's Catholic Primary School A 6 days ago

    A teacher through lots of training and has to work so hard and they stay at the school for about the whole day neary every day , teaching , finding ways to help us, marking work , activating online learning apps for us to help us , providing gifts for good children . We are so lucky to have all of these things, other might not receive schooling ... A banker does not realy travel two thousand kilometres to pass the money to the person in person they propably just put their feet up and

    Reply to this comment
  • Portobello-logo-250x250.jpg productive_petal
    Portobello High School 4 days ago

    I think bankers should have to earn the bank money to get payed that much but only if the risks pay of.

    Reply to this comment
  • Hanson-logo-250x250.jpg healthy_lake
    Hanson Academy 4 days ago

    Bankers play an important role.

    Reply to this comment
  • Hanson-logo-250x250.jpg trustful_meteor
    Hanson Academy 4 days ago

    bankers have an important role.

    Reply to this comment
  • Bruche-logo-250x250.jpg persuasive_mango
    Bruche Primary School 4 days ago

    This is a very good post well written 👍

    Reply to this comment
  • Bruche-logo-250x250.jpg persuasive_mango
    Bruche Primary School 4 days ago in reply to persuasive_mango's comment

    I have made a post check it out🤩🤓😛😋

    Reply to this comment
  • Bruche-logo-250x250.jpg independent_violin
    Bruche Primary School 3 days ago in reply to unique_cheetah's comment

    I agree it’s too much,they should share it with the people.

    Reply to this comment
  • New-Horizons-logo-250x250.jpg steadfast_moon
    New Horizons Children's Academy 2 days ago

    In my opinion, I do not think bankers should get paid this much, especially as sometimes they do not do their jobs properly, this is what caused a crisis. Furthermore, my teacher said that her friend gets paid £1.2 million a year! I think some of this money could be used for more reasonable things for the community, for example: inferstruction; the NHS; education ect.

    Reply to this comment
  • Faringdon-logo-250x250.jpg fantastic_duck
    Faringdon Community College 2 days ago

    I would disagree, I don’t think that bankers get payed too much because if you look a little closer into what they do and how long they spend doing it there is some justification for the amount they get paid, and it doesn’t seem quite as ridiculous.

    According to efinancialcareers,
    • ‘When working hours are factored in, junior bankers’ pay suddenly looks a lot less appealing. 70-80 hour weeks are the norm, and some bankers work longer still.’
    • “Junior bankers who work 12 or 13 hours a day expect their pay to reflect that,” says Christopher Wheeler, US banking analyst at Atlantic Equities.
    • “Associates and vice presidents work 100-hour weeks for years on end to reach the managing director level,” says Hintz.

    Efinancialcarreers got this information from ‘three banking analysts about industry remuneration and the stickiness of compensation.’ And that ‘This was their justification for the ongoing banking bounty.’ So they spoke to banking analysts which may well be bias but even so, this is from a bankers or someone who can sympathise with the banker’s perspective.

    What my point is that yes, bankers get paid a crazy amount but my point is, especially if you factor in the working hours, it is almost justifiable. However, I disagree with one part of the wages, how they get a raise or some bonus money if the bank makes a lot of profit. This encourages bankers to take unnecessary and too risky decisions, in order to get more money. If bankers are already being payed that much money in the first place, they need to do their jobs properly and not take risks with people’s hard-earned money. I would suggest that they don’t get this extra money because then they don’t have any temptation to take unnecessary risks, so I are with you here.

    You mention teachers a lot in your post, as an example of how unfair it is that bankers are being paid this amount when teachers are paid a far, far smaller amount.I also agree with you that this is unfair. Teachers get paid very little, if you consider how much they do. Their working day isn’t just our school day, like 8.30-3.00, it goes far beyond that with meetings, marking etc. In fact, ‘Classroom teachers and middle leaders are working an average 54-hour week, according to the government’s latest teacher workload survey released today.’ And that ‘secondary school senior leaders reported even longer working hours, working 62.1 hours per week’.

    Especially if you consider for how long they work, teachers get paid very little, I definitely agree. It is an issue, but, considering that they are technically paid by the government, as public education is funded by them, and considering massive financial cuts to education, I, unfortunately find it unlikely that this is going to change anytime soon.

    So, to conclude, I agree that teachers aren’t payed anywhere near enough but just because this is the case with teachers doesn’t mean that people like bankers should be also be underpaid. Just because some people aren’t being paid enough doesn’t mean bankers should be too. I think, however that banks should not give them bonuses as this encourages too many risky decisions and they are already paid plenty. And if they weren’t paid this bonus, maybe some of this extra money could be put into things like healthcare or education, and then teachers can be paid more.

    Sources:
    • https://www.tes.com/news/teachers-work-54-hour-week-dfe-survey-finds
    • https://www.bbc.co.uk/news/education-27087942
    • https://news.efinancialcareers.com/uk-en/220957/why-bankers-are-still-paid-so-much

    Anyway, victorious_snow, thanks for your post, I found it very interesting as I had never previously realised how much bankers got paid,
    I’d be curious to know what you opinion was on what I said,

    Fantatic_duck

    Reply to this comment
  • Tiff-Avatar.jpg Tiff @ the BNC 2 days ago in reply to fantastic_duck's comment

    Excellent research- you've been sceptical and curious.

    Reply to this comment
  • Elaine-logo-250x250.jpg victorious_snow
    Elaine Primary School 2 days ago in reply to fantastic_duck's comment

    Thank you for adding more to the information I gave because it gives more details to readers and will make them think in both sides.

    Your points are absolutely valuable about how not everyone, all at once, should be paid so less.But I am sure that after few years the government can change to pay the suitable amount of money for the job.By not giving bonuses, there is an actual chance to make up for the high payments that a banker receives. So if they cut off the bonuses maybe it's ok.

    I was thinking about the fact that there a different types of bankers so it is not like every banker should do everything because there is so many categories like:
    Bank Teller. Bank tellers are the first line of advertising for a bank
    Bank Marketing Representative. ...
    Internal Auditor
    Branch Manager
    Loan Officer
    Data Processing Officer
    So within a bank there are so many jobs to do but not only one person does them all which means they won't be doing that much hard work, but I understand it is not guaranteed. This leads to our next point, if there are so many bankers, they'll all need to be paid so much because every banker gets paid a high rate. In this way, government loses so much money. But we know that all that money could be a life saver if it goes towards other helpful things like medical needs.

    I am sure having different opinions is not a bad thing because it's just thinking on both sides which leads to interesting conversations which then will make us learn more.
    Thank you for commenting on my post and making me think deeper about this topic.

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