Lol @ the idea that IT guys at Morgan Stanley or Goldman Sachs get paid half a stick.
Many of the senior traders have mediocre academic backgrounds and no marketable skills outside of finance. Plus, they're stressed out all the time. The assholes among them will take out daily frustrations on junior employees, IT guys, and quant strategists that don't run their own risk. Lost five million today? Solution: Go red in the face and loudly berate the kid who developed your pricing model for something that isn't his fault.
This is part of life at a bank. Nobody wants to admit it here because the guys here who work at BBs are generally on the receiving end of the abuse.
It is not unusual to see a math PhD, who is a vice president and writes code for a living, get a very public reaming from an executive director (one rank higher) who drank his way through a bachelor's program at a lesser Ivy.
Bosses don't do anything about it because they don't care and because they are beneficiaries of the pecking order. Subordinates don't do anything about it because they don't want to risk their bonus numbers.
and i guess this is why lots of devs don't work to work at that place. i also heard that everyone is an executive, so they don't have to pay you overtime.
i didn't know anyone who made 500k there, plus i'm on the west coast. i was just responding to someone up above who said it wasnt that uncommon to make that much
