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Maybe with their work, labor costs are a relatively small portion of the product price?
Look up the comp ratios of some of the major investment banks. It can easily be 50%. As with all professional services firms, the biggest costs are people and real estate.
HN title is significantly different than the question the submission actually asks which is "why do TRADERS in investment banks . . . " and should be updated
In case the full title makes a difference it's "Why do traders in investment banks feel their jobs are immune from AI, automation, and deep learning?" cc @dang
Because investment bankers are just salespeople? Nobody is suggesting AI will replace salespeople in the near future. I could see there being fewer grunt analysts in the future, though.
> Nobody is suggesting AI will replace salespeople in the near future. Huh? For one, investment bankers are "just salespeople" in the same way doctors are just nurses. Second, everybody and their mother is suggesting AI will replace retail level salespeople in the future. In fact lots of places, from British supermarkerts (where you can bill and pay for your purchases yourself), to Amazon's Go experiment, and numerou…
Earlier quoted context omitted.
Look up the comp ratios of some of the major investment banks. It can easily be 50%. As with all professional services firms, the biggest costs are people and real estate.
I think he's saying the money client pay to investment banks is a small compared to size of the deals bankers advice / underwrite etc.
You mean I can get an unbiased look at a house in peace, compare the numbers, look at the plans, measure the humidity and do my due diligence without a sales person breathing down my neck?
Hell yea. I'd pay premium for that.
> "Would you trust purchasing a house from a seller, without meeting/talking to them, or a single person before and throughout the purchase?" You mean I can get an unbiased look at a house in peace, compare the numbers, look at the plans, measure the humidity and do my due diligence without a sales person breathing down my neck? Hell yea. I'd pay premium for that.
> "Would you trust purchasing a house from a seller, without meeting/talking to them, or a single person before and throughout the purchase?" You mean I can get an unbiased look at a house in peace, compare the numbers, look at the plans, measure the humidity and do my due diligence without a sales person breathing down my neck? Hell yea. I'd pay premium for that.
would you hire a person for your team just by looking at degree transcripts, LOC written, and the resume? maybe you would, but I'm not too inclined to do that.
Maybe with their work, labor costs are a relatively small portion of the product price?
Look up the comp ratios of some of the major investment banks. It can easily be 50%. As with all professional services firms, the biggest costs are people and real estate.