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Posted at 6:25 PM ET, 01/ 7/2011

How much is working in finance worth?

By Ezra Klein

About 40 percent more than working in anything else:

Finance scholars Thomas Philippon and Ariel Resheff have actually tried to calculate how much financial-sector workers are overpaid relative to those with similar skills in other professions. About 40%, they say. That's for the financial sector as a whole, not the fancier precincts of Wall Street. There the percentage would seem to be more along the lines of, say, 2,919% (the gap between Summers' pay at D.E. Shaw and what he made at the White House).

By Ezra Klein  | January 7, 2011; 6:25 PM ET
 
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Comments

And to think finance is the "easy" route from Ivy Leagues....

Posted by: will12 | January 7, 2011 7:05 PM | Report abuse

And to think anyone still believes in "meritocracy." Just gotta bribe that kid into the right pre-K and then it's smooooooth sailing...

Posted by: NS12345 | January 7, 2011 8:02 PM | Report abuse

"...say, 2,919% (the gap between Summers' pay at D.E. Shaw and what he made at the White House)."

Wait a minute, I thought Federal employees were over paid. Summer's was working for peanuts! I guess we got what we paid for.

Posted by: denim39 | January 8, 2011 6:48 AM | Report abuse

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