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Banker Pay Coming Down to Earth

By Morgan Housel - Apr 10, 2013 at 8:52AM

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Bonuses on the wane.

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 (GS 1.53%) 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.

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