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Which professions are paid too much given their value to society?
11–20 of 42 posts
Re: Which professions are paid too much given their value to society?
#12Polititians
Re: Which professions are paid too much given their value to society?
#13High speed trading quants?
Re: Which professions are paid too much given their value to society?
#14Head hunters.
Re: Which professions are paid too much given their value to society?
#15An easy example for the opposite question of "Which professions are paid too little given their value to society? ". Hospital nurses in UK, they perform life saving work and paid rubbish money.
Before or after overtime? My understanding is that here in Canada most nurses doing shift work make 6 figures. Hospitals are understaffed so there's lots of overtime available, and of course nursing is a 24/7 job. The night shift premium and the overtime premium multiply so picking up a single extra night shift can gross $1000.
Re: Which professions are paid too much given their value to society?
#16Based on the table with the article, asset managers seem to have the largest negative externality.
Re: Which professions are paid too much given their value to society?
#17business professors.
economists.
Re: Which professions are paid too much given their value to society?
#18Real estate agents (in the USA at least)
Two anecdotes:
Buying a house is the biggest list of "fees" I've ever seen in my life. I felt so nickel-and-dimed with random $50-500 fees tacked onto every part of the transaction. My mom just sold a condo as well, same thing with tons of superfluous random fees throughout the process on that side of the transaction.
A friend of mine, who is a really nice guy, so I don't hold this against him at all, but was kind of flopping in his career until his early 30s. Started as a real estate agent out of the blue in the Seattle market a few years back. Is now making 2-3x more than most of us. I'm happy to see him successful, but I also take this as an example of the job having pretty low barrier to entry to make a lot of money.
Re: Which professions are paid too much given their value to society?
#19Real estate agents (in the USA at least)
As someone who just recently sold FSBO, this rings true to me. Real Estate agents provide an entirely 100% superfluous service especially in relation to the absurd amount of commission they charge. The important aspects of selling a home are done by inspectors, appraisers, and lawyers. The Real Estate agents are basically leeching middlemen that keep as many people out as possible to keep their perceived monopoly, which sadly most of us are forced to use out of our own will because despite it being explicitly laid out as unethical in their guidelines, real estate agents will only work with other agents and skip over homes that are FSBO. The only other equivalent I have found is financial advisors.
* a little caveat: I am little bit bitter about the process and the "locking out" I faced. One real estate agent even told me this up front, which I was like "Dude you know I could report you for saying this and you could lose your license right?" But alas I just shook my head and carried on.
Re: Which professions are paid too much given their value to society?
#20An easy example for the opposite question of "Which professions are paid too little given their value to society? ". Hospital nurses in UK, they perform life saving work and paid rubbish money.
Before or after overtime? My understanding is that here in Canada most nurses doing shift work make 6 figures. Hospitals are understaffed so there's lots of overtime available, and of course nursing is a 24/7 job. The night shift premium and the overtime premium multiply so picking up a single extra night shift can gross $1000.
Nurses in the U.K. don't get overtime. They can join bank nursing which is like a separate pool of nurses to cover these gaps. Pay is a bit higher but not by much.
NHS pay rates are here: https://www.healthcareers.nhs.uk/about/careers-nhs/nhs-pay-a...
Registered nurses are on band 5 and start at the bottom (22k GBP). They move up a point every year.
No band 5 nurses in the UK make six figures.