High earner - but unsettled

[Iprobap]

Annual pay about £250k, between 16% - 50% discretionary bonus and shares. Overseas based for UK global financial services company.

Personally still earn full salary, but possible no increase, bonuses and shares this year and next few maybe? I foresee retrenchments in future because of COVID-19.

I know we are on different scales on here and this is no brag. Curious to know if others are as unsettled by possibility of losing benefits because of impact of COVID-19 on global economy?

I think it is a question of scale and attitude.

There used to be a concept of ‘noblesse oblige’, meaning that successful people acted modestly and gave back to their community. Now it is far more ‘look at me, am I not brilliantly successful?!’. There are, of course, many many exceptions to this, but it is the general trend, and does lead to resentment.

Also, wealth inequality has increased massively in the U.K. (and elsewhere) over the last 20 years or so, especially for the really high earners. They have not done a better job to take an increasing share of national wealth.

And income inequality is also a massive issue in the US. The idea that a Wall Street Titan could walk into a bar in Detroit and would be admired by unemployed car industry workers for his success is just fantasy. Ordinary Americans feeling excluded from the ‘American dream’ at least in part explains Trump’s success.

If people do well, are successful and give back to their community, they are admired. If, like the OP, they moan about earning ‘only’ £250k and their ‘giving back’ consists of passing their wealth in solely to their children, it is not surprising when some resent them.

I agree with the wrong description of 'better' but why is it unthinkable that a person with a high salary could have got there through working harder?

Of course people who earn high salaries work hard (well most) but it's not a level playing field so they didn't necessarily get there just by working hard.
2 kids, same intelligence & work ethic except 1 is white & goes to prep & then grammar & a top uni, the other black goes to a the struggling state school & ok uni. Get similar results, which one is likely to end up a partner at a MC law firm?

Of course people who earn high salaries work hard (well most) but it's not a level playing field so they didn't necessarily get there just by working hard

Well how do we know that they really do? They’re the only ones who are telling us this....

@Iggly

Of course people who earn high salaries work hard (well most) but it's not a level playing field so they didn't necessarily get there just by working hard

Well how do we know that they really do? They’re the only ones who are telling us this....

What a very strange a somewhat huffy childlike response. It’s not a competition. What is hard work? Hard work isn’t just physically demanding work. Hard work constitutes high skilled creative work, risk taking, high stakes decision making, training and studying for years to master your specialism.

The modern evening in interwoven where high skill and knowledge commands more reward as it takes more effort to attain.

People who get high salaries may well work hard, long hours etc etc - it doesn't necessarily mean they haven't had advantages to get where they are. If the debacle over results this year showed anything, it was that where you go to school most definitely can have an effect on your prospects.

KMT

It’s the politics of envy I am afraid

In this context that phrase is used by someone who doesn’t understand what it means, I am afraid.

I'll answer my own question then,

0.75% of partners at MC law firms are black & I think about 40% of partners go to fee paying schools.

What a very strange a somewhat huffy childlike response. It’s not a competition. What is hard work? Hard work isn’t just physically demanding work. Hard work constitutes high skilled creative work, risk taking, high stakes decision making, training and studying for years to master your specialism

How is it childlike to point out the facts? It is fact that those high earners like to bang on about how they deserve their money, that they work hard, that they’re worth it. They have to constantly justify their existence which makes me wonder why is that.....

FWIW I’m a high earner (although not six figure salary!).

The modern evening in interwoven where high skill and knowledge commands more reward as it takes more effort to attain

Again, says who? Those who’ve had the opportunity to do it?

I’ll tell you now, that a lot of it isn’t hard, it doesn’t require huge amounts of brain power.

What are you counting as a high earner @Iggly? a higher rate tax payer?

Strange first post.

People who get high salaries may well work hard, long hours etc etc - it doesn't necessarily mean they haven't had advantages to get where they are
Ha the good old advantages that have to be thrown in the equation because people really don't like the idea that others can be financially successful without it. Don't like to think it could been them if oy they'd worked harder...

@Iggly

The modern evening in interwoven where high skill and knowledge commands more reward as it takes more effort to attain

Again, says who? Those who’ve had the opportunity to do it?

I’ll tell you now, that a lot of it isn’t hard, it doesn’t require huge amounts of brain power.

Of course, going to law or meeting school, becoming an engineer or being a skilled SW dev engineer requires no effort or brain power. Starting out in business and then building it up by taking huge risks is just child’s play. It doesn’t take any effort at all.

To have a balanced argument you have to make sure you don’t throw the baby out with the bath water otherwise it all just starts to sound ridiculous, even your points that may be valid.

@Iggly

The modern evening in interwoven where high skill and knowledge commands more reward as it takes more effort to attain

Again, says who? Those who’ve had the opportunity to do it?

I’ll tell you now, that a lot of it isn’t hard, it doesn’t require huge amounts of brain power.

Ah yes of course

Making 6 figures requires no brainpower. Anyone can do it

I’ll tell you now, that a lot of it isn’t hard, it doesn’t require huge amounts of brain power.

I disagree with that, there can be lots of stress, responsibility. It's why so many high earners burn out.

@dontdisturbmenow are you denying there are advantages to be had from the schools you go to, what your parents do, what work exp you have etc?

ok...

Making 6 figures requires no brainpower. Anyone can do it

There are far more people capable of it than actually achieve it. People who didn’t have the advantages that make it easy.

@dontdisturbmenow why do you think BAME & people from state school backgrounds are so underrepresented in certain industries like law? because they just didn't work as hard as the white & privately educated kids?

I think it’s unfair to say that anyone can do it.

However, there are probably more people with the capability of doing it than get the chance to do it.

Does burnout come from the inherent difficulty of the job? Or all the stress maintaining position that other people are competing for?

@VinylDetective

how? i could do with the advice

[quote serenada]@VinylDetective

how? i could do with the advice[/quote]
Too late. Being born into the right family is a good start.

are you denying there are advantages to be had from the schools you go to, what your parents do, what work exp you have etc?
But why make an assumption on an individual basis that all those who are financially successful have experienced these advantages? Some do and some don't yet the moment financial success is mentioned, it follows advantages.

I'm not talking about statistics, I'm talking about individuals, who managed to get there with no advantages. Don't they deserve recognition of the hard work that took them there?

But you get guys like Trump claiming they're self-made. He's that delusional he probably thinks he is.

People's versions of by their own bootstraps may not stand up to scrutiny.

Tough shit was my first thought.

This thread is a perfect example of the saying 'money can't buy you class.'

Perhaps you should start a GoFundMe? I'm sure there are plenty of gullible people who will bulk up a millionaire's bonus.