Hedge funds guys top NYC Salary Guide

Quote from wonderworld:

She(Chelsea Clinton) is being paid the right salary. She is very well educated. She was educated overseas in Europe and was sent to one of the best colleges in the world. She is educated in both foreign policy and U.S policy and international policies. 120K a year is the right pay for all her education. I wouldn't doubt it if she goes on to run for president of the United States in about 20 years. She is a very good public speaker. I watched her speak on television in front of an audience of 1000's. She speaks better than her mom and dad. Her voice didn't even shake. she looked like belonged up there. She knows what she is doing. They should pay her more.
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Unfortunately (or in some cases fortunately) you rarely pay a person what they are "worth", you pay them what the job is "worth". Entry level analyst consultant whether from Boston University or London School of Economics is going to be paid essentially the same - basically - all other variables set aside.
 
Quote from makosgu:

Having been there and done that, it's the going rate... In actuality, she's only getting a fraction of her bill rate. When I was in their industry, the going bill rate depending on expertise was >$200/hr and that was for entry level consultants. So 45hrs*$200*45weeks is $405K. Mind you, this is entry level. The execs had bill rates >$600/hr. It is true that the higher your rank, the less hours you bill. Nonetheless, the revenue stream is handsome considering how many employees are "staffed" (ie. on a client project) at any given time... Typical weeks are long too 12 hr days, intermittent weekends. When I left that industry, I said I wouldn't go back for double. So now its 3.5 years later and I couldn't even put a price on what it would take to go back to it. However, McKinsey is good at what they do and to attract quality you have to pay up so that in fact your deliverables are quality and services recommended and used again...
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According to Bloomberg, McKinsey is the same consulting company which advised Allstate that, here's the passage in the Bloombergu article:

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"One slide McKinsey prepared for Allstate was entitled ``Good Hands or Boxing Gloves,'' the tape of the Kentucky court hearing shows. For 57 years, Allstate has advertised its employees as the ``Good Hands People,'' telling customers they will be well cared for in times of need.

The McKinsey slides had a new twist on that slogan.

When a policyholder files a claim, first make a low offer, McKinsey advised Allstate. If a client accepts the low amount, Allstate should treat the person with good hands, McKinsey said. If the customer protests or hires a lawyer, Allstate should fight back. "
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You can read it yourself here:

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aIOpZROwhvNI
 
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