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[OM] Re: Tempted by the E-500

Subject: [OM] Re: Tempted by the E-500
From: Moose <olymoose@xxxxxxxxxxxxxxx>
Date: Tue, 06 Dec 2005 22:57:29 -0800
Chris Barker wrote:

>My son earns around GBP18,000 ($31,000) as a university graduate of 2 years' 
>standing  
>with a utility company
>
That sounds low here.

>However, ex-students of mine from prestigious universities in London (such as  
>London School of Economics or Imperial College) are being tempted  
>into trading positions with salaries of twice that.
>
Way low, unless that's  a base against commissions.

> But that sort of job does not hold you for long -- too long hours, no 
> windows, no  
>women ;-).
>
>My gut feeling is that your middle salaries are slightly lower, but  
>your lower salaries are higher; finally, your higher salaries are  
>much, much higher.
>
The all too many people here working at the McJobs, fast food, WalMart, 
etc., do very poorly. Hours are arranges so that most of them don't 
qualify for benefits, let alone work full time to make something 
approaching a living wage. Millions are without health insurance and 
other benefits that are govt. provided where you are.  I'm not saying 
one system or the other is better, just that they are very different.

I studied international economics and business at a prestigious U, 
although I wasn't a prestigous student. One thing I learned is that 
comparisons of earnings are very tricky. You have to take after tax 
incomes, then prepare comparable 'baskets' of goods and services, 
adjusted for cultural differences and cost them. Only then can you get 
anything like a reasonable comparison. It's actually a lot of work.

Moose



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