Investment banking is hard. You put in insane hours. You get screamed at. Your life is miserable.
But you make a lot of money. An absurd amount of money. Average pay at a bank like Goldman Sachs (NYSE: GS ) can exceed half a million dollars a year.
But that's starting to change. Five years after the financial crisis, banker bonuses are starting to decline. Given new regulations, the change might be a permanent shift, rather than a cyclical blip.
In this video, Fool analysts Morgan Housel and Matt Koppenheffer discuss what pay falling down to Earth means for the industry.
With big finance firms still trading at deep discounts to their historic norms, investors everywhere are wondering if this is the new normal, or if finance stocks are a screaming buy today. The answer depends on the company, so to help figure out whether Goldman Sachs is a buy today, I invite you to read our premium research report on the company today. Click here now for instant access!