Morning Coffee Mar 19 2012

Warren Buffett Will Pay You If You're Good

By julie steinberg

If you're disappointed with Wall Street pay, consider moving to Omaha. More specifically, to the den of the Oracle of Omaha.

Warren Buffett rewards his lieutenants handsomely, Bloomberg reports, which may persuade you to heed the call of the corn husk. Berkshire Hathaway paid out the following sums in 2011 compensation to stewards of companies it has stakes in: $17.4 million to Thomas Nerney, chief executive of United States Liability Insurance Group, $12.4 million to Tony Nicely, CEO of Geico, and $9.26 million to Ajit Jain, head of Berkshire's reinsurance division.

Buffett himself earns $100,000 in compensation every year. Though he makes himself out to be more Main Street than Wall Street with his folksy demeanor, Buffett is keen on attracting talented workers and is willing to pay the price for them. In 2010, he told Bloomberg: "We've paid out very large bonuses at Berkshire in the past, but we've always paid them out for performance. I love getting talented people doing great things for us, and I'll pay them accordingly."

It's almost enough to make you forget the pain of zeroes on Wall Street this bonus season.

Cantor Hiring (FINS)

Cantor Fitzgerald will hire 200 people this year in its business lines around the world. The firm is eager to capitalize on Wall Street layoffs that are sending prime talent straight to its door.

Rearranging Furniture (Financial News)

The new overlords at Deutsche Bank are busily installing their own commanders, like new Chief Risk Officer Stuart Lewis.

Pay Day (Fortune)

Wells Fargo Chief Executive John Stumpf did, er, well in 2011. He took home $18 million in pay last year.

Stepping Down (Financial News)

Hector Sants, chief of the U.K.'s financial regulatory body, is quitting his job by the end of June. He had been itching to get out of there for quite some time.

You'll Know It When (The Globe and Mail)

Burnout is the condition that dare not speak its name. Here are the symptoms so you can self-diagnose, and take six months off if necessary (dare to dream).

Coming Together (NYT)

Need a buddy, Goldman Sachs? New York Mayor Michael Bloomberg hung out with Lloyd and Co. last week to soothe the bank's hurt feelings over Greg Smith's resignation letter.

Buzz Around the Office

Stewart Tarantino Interview (YouTube)

Jon Stewart interviews Quentin Tarantino about his new feature, Pulp Fiction. Oh yeah, and it's 1994.

List of the Day: Job-hunting Over 50

The rules can be different when you're searching for a job over a certain age bracket.

1. List only the last 15 to 20 years of experience on your resume.

2. Show your tech know-how.

3. Network beyond your peer group.

(Source: LinkedIn)

Play the new finance career game from FINS!

Financial Dream Jobs - Sign Or Decline
You just got an offer for your dream job,
the firm has a record of discriminating against Democrats.

  • Copyright ©2014 Dice Holdings, Inc. All rights reserved.
Log in 
FINS Login
*Indicates required field
User Name*
     Forgot Your Password?
Or log in using your Facebook account:
Connect with Facebook