Re:Aramco listing plan halted, oil giant disbands advisors –...
by matz1 on Wednesday August 22, 2018 @08:18PM
(#17823451)
>the junior bankers probably spent months/years of 100+ hours weeks working on slide decks to get this done, only to have all their work thrown out
Why would I care if I get paid salary for the work done anyway?
Re:Aramco listing plan halted, oil giant disbands advisors –...
by vageli on Wednesday August 22, 2018 @10:47PM
(#17824148)
> >the junior bankers probably spent months/years of 100+ hours weeks working on slide decks to get this done, only to have all their work thrown out
> Why would I care if I get paid salary for the work done anyway?
While I agree with you, some people need more than monetary compensation to feel fulfilled at work. Some find value in ownership, autonomy, discovery, and other things. It's not hard to imagine some people (IMO _especially_ more junior people, who may be more 'starry eyed' so to speak) to be more motivated by these other factors.
Re:Aramco listing plan halted, oil giant disbands advisors –...
by wdewind on Wednesday August 22, 2018 @10:45PM
(#17824134)
Sorry but do I really need to explain why on a human level having months/years of work thrown out might be emotionally painful? They're bankers not robots.
And even if they were robots, having a deal like this fall through hurts their career. It's not irreparable damage, but people are going to give way less of shit about the fact that they worked on it now.
I think you're missing the point. It's not really about not getting rich quick...the junior bankers probably spent months/years of 100+ hours weeks working on slide decks to get this done, only to have all their work thrown out. For the guys at the top its just one of many deals that fell threw, but for the junior bankers it's probably the most important if not only deal they've worked on in their short careers, and now it's thrown out. I think you'd be upset if a year+ of your work suddenly counted for nothing, regardless of the amount of money involved.
> People in life are what matters. Money matters too, of course, and it's tempting to dream about having FU riches. But when we live in this culture where we're all trying to gamble, and institutions are trying to gamble, and the losers get quietly swept under the rug and silenced, all that's left is the impression that everyone is winning except you.
FWIW most of the people working in the finance industry are not chasing money thinking of themselves as temporarily embarrassed millionaires, they are simply trying to provide stability and a good life for their families.
> My Bitcoin friend from 2010 wound up a millionaire, but he lost his love along the way, and as far as I know he still hasn't found anyone. Was that rich life worth it?
Isn't this a false dichotomy? Tons of people divorce because of lack of money too.