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.