Do you ever wonder why ad people show up for work everyday? Is it for the money? Or are we driven to make a contribution to the culture, however small?
This L.A. Times story looks at another industry, one we need not ask such philosophical questions of.
A report released Tuesday shows that Wall Street’s elite are making more money than ever, with the 25 highest-paid hedge-fund managers averaging $570 million in compensation last year. The top three pocketed more than $1 billion each.
In its annual survey of hedge-fund managers, investors magazine Alpha found that average compensation of the top 25 jumped 57% last year from 2005 and 127% from 2004.
Collectively, the 25 managers earned more than $14 billion. If you didn’t make at least $240 million last year, you didn’t make the list.
In the agency game, salaries can on occasion be stout, but there’s only one true path to wealth—you need to own the shop where you work.
