$570 million a year - that’s the average salary for the top 25 managers in the industry, according to Alpha Magazine. The top three managers took home over $1 billion each. Find the top ten 2006 hedge fund earners here. The funds earn fees for managing money and share in any gains made from successful strategies.
The 57 percent rise in hedge fund manager earnings last year comes as shareholders pressure corporate boards to get control over rising CEO pay. Washington is also responding to complaints over rising pay for top executives. The House of Representatives last Friday approved the “say on pay” bill to give shareholders the right to cast nonbinding votes on the pay of top company executives.
What do you think? Is the massive pay for top performers in the hedge fund industry good for the markets or the U.S. economy?
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I think the question is irrelevant. Obviously you are playing on the primitive human emotions of jealousy and envy. Whatever the compensation is, as long as the person is satisfied with it and performing well his job/function it is right. Implying with your question that one person should be able judge other’s salary you are coming close to the question of equality of the “life style” for all citizens through the governmental or other control, basically to the communism. Which is not bad topic to think about. But you should be clear about it.
- Posted by Eugene Ray