Goldman Sachs automated trading replaces 600 traders with 200 engineers

Re:Goldman Sachs automated trading replaces 600 traders with... by RangerScience on Tuesday February 07, 2017 @05:14PM (#13593424)

So... if 600 traders were replaced with 200 engineers, do the engineers make 2-3x the salary of the replaced traders?

[ Parent | on HN ]

Re:Goldman Sachs automated trading replaces 600 traders with... by sake on Tuesday February 07, 2017 @05:30PM (#13593544)

Capitalist makes profit by minimizing worker's pay in relation to the value the work produces.

(But if it makes you sleep your nights better the answer is yes!)

[ Parent | on HN ]

Re:Goldman Sachs automated trading replaces 600 traders with... by FT_intern on Tuesday February 07, 2017 @06:17PM (#13593948)

No, engineers are not paid well at Goldman

[ Parent | on HN ]

Re:Goldman Sachs automated trading replaces 600 traders with... by RangerScience on Tuesday February 07, 2017 @06:21PM (#13593979)

So... There was another post up not to long ago about a programmer's union. The comments critiqued the need for it, but were talking generally.

Is there an opportunity for a financial programmer's union, so that the value those engineers bring is better shared with the people bringing them?

[ Parent | on HN ]