‘Struggling’ $350K-a-year Exec Responds
March 2, 2012 by staff
‘Struggling’ $350K-a-year Exec Responds,
‘Struggling’ $350K-a-year exec responds, Banker Bonuses: Wall Streeter With $350K Salary Responds To The Outrage Over His Comments, The Wall Street director whose remarks sparked an outcry said he wasn’t complaining. After being cited in a Bloomberg article about the impact of falling Wall Street bonuses, Andrew Schiff is feeling the heat from Americans outraged that someone (anyone) who makes $350,000 a year could complain about their lot in life. The story has gone viral, sparked a boatload of copycat pieces and blogs, most of them highly critical of Schiff, who says he’s received a torrent of vitriolic emails.
“I never expected to become the poster child for venality and greed,” says Schiff, who is director of marketing for Euro Pacific Capital, where his brother Peter is CEO.
In the accompanying video, Schiff stresses he never complained to the Bloomberg reporter about his lifestyle, realizes he’s one of the lucky ones and “understands why people feel bad reading about what I’m saying.”
The point Schiff says he was trying to make is twofold:
First, living in New York City is incredibly expensive and $350,000 does not make you rich in Manhattan — nor San Francisco or Boston or almost any major metropolitan area where Wall Street types tend to work and live.
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