Bankers Explain How They Cannot Possibly Live On $1 Million Pay http://www.huffingtonpost.com/2013/04/30/bankers-1-million-pay_n_3188177.html?ir=Business Like many carbon-based lifeforms, you perhaps think that bankers are driven only by naked greed. But that is just because you don't understand them: They actually have a deep psychological need for that money. In a new article at the U.K. site eFinancialCareers, several bankers explain that they have legitimate reasons for needing more than one million British pounds (about $1.6 million) per year in pay -- more money than most non-banking types could ever figure out how to spend. In a nutshell, it's all about psychology. Abraham Maslow clearly should have added "crap-tons of money" when building his hierarchy of needs. “It’s really not that unusual to find Wall Street bankers who are close to declaring themselves bankrupt,” Gary Goldstein, co-founder of U.S. search firm Whitney Partners, tells eFC's Sarah Butcher. “Some people are really struggling.”
If you can't manage your finances when you make over $100k/yr, then you have a serious problem and it isn't a lack of financial resources.