I can no longer catch up on these threads!~350 posts by Noon!

Perhaps you should do some research. Reagan was said to espouse trickle down, but in reality, what was implemented was vastly different. TRA 86 cut taxes across the board (and was not really his baby–Read “Showdown in Gucci Gulch” which is required reading for all NYU tax grads and a damned fine read), and his military spending was Keynseian in its effect.

Calling it “trickle down” didn’t make it so.

And as for your tax cut, if you really don’t want it, the U.S. Treasury accepts donations. Really.

Or send it to me. Just as good.”

Were you even working in the 80s – the “greed is good” decade? Just curious how you view the whole “rich got richer” phenomenon if not a giant trickle down economy.

How about this: nobody pays taxes. You get no public roads/bridges, no military, no police, no firefighters, nothing. Sound good?

I love how certain Republicans/libertarians (not always the same but seem to be pretty lockstep for the most part) see their place in society.

Typical ‘privatize the gains, socialize the losses’ mindset.

Can you please refrain from using the words “Fair” and “Fox” in the same sentence.

For any of this to be relevant, these people need to be buyers, sellers/holders, or prospective buyer of NJ real estate.

There are a few wall st enclaves in Suburban NJ. However, NYC, CT, Weschester remain destination of choice the for bulge bracket types and highest earners. These folks don’t even want to come to JC/Hoboken for work. Goldman wound up putting “back-office” folks in their new JC tower, becauses traders resisted the move.

No one below VP level in front office at even these firms would be looking to buy a suburban home anywhere. They are single and work 70-100 hour weeks.

Now there are plenty of people who are employed by these firms that live in NJ. They are usually back-office or middle-office folks. They do very well, but these are not 500K a year average comp jobs. A better benchmark would be 100-200k all in. Base salary is lock step at each level. So back office VP would make the same 120-150k in base salary as front office guy. However, bonus would be more like 20-75 percent of base – not 100-400%. It also take a lot longer to get to that level in the back office – figure 12-15 years experience. There are also proportionally fewer people at a given level. A level down, associate pay is 85-100k base, with same 20-75 percent bonus.

Likewise there are also plenty of retail brokers working in the wealth management groups of big banks or small firms in NJ. However, their median comp is more like 100k – with 80 percent of folks well under 200k or even 150k. The same goes for raders at small firms – with 2 standard deviation pay being more like 250k.

The bottom line is you need to look at income data for specific community, plus consider overflow dynamics.

This is where a bigger portion of the “wall st” world becomes relevant.

Big hitters push out smaller fish from the city and destinations of choice in good times. Who in turn, push out folks not in finance, technology, or law.

And all of this only relly applies to maybe top 10-15 percent of market.

The top 20 percent of HOUSEHOLDs in nj make 100K+. 500K+ all in is top 1 percent.

I think we need to be more precise on what is being discussed by “wall st” jobs.

Do you mean all financial services jobs tri-state area, or just capital market jobs?

Do you mean “front-office” (brokers/traders/bankers) or all jobs (ops, tech, legal, marketing, hr)?

Do you mean bulge bracket or any firm?

The number of jobs and comp vary dramatically based on these questions.

You also have to conside the effect of the run up in bonuses and profits over last 5 years on current median/mean comp for a job, vs expectation going forward.

There is the very real possibility of people keeping their job, but seeing dramatic reduction income.

This happened after the dot.com bubble burst. Bulge bracket all in comp for top front office performers went from 100k+ analyst level, 400k+ associate, and 500k+ vp, to 60-80k analyst, 150-200k associate, and 200-300k vp. The run in bonuses was even higher this time around.

This was along with large layoffs. At VP level and above a good chunk (20-50 percent) of comp is in stock that vests over several years. There is also much more variation in comp at vp level and above – by performance and group. In sales/trading that variation starts at even senior associate level.

These positions are also a relatively small portion of the total jobs at even bulge bracket firms – 10-20 percent. Smaller firms will have higher tooth to tail ratios, but usually less comp (smaller deals, less capital).

I believe NJ patient was qouting from my post in previous thread on Wall St jobs. You asked me to repost. I was lazy and just posted link to comments. I guess everyone was equally lazy, and didn’t want to follow link. Someone could make a nice profit on the effort spread:)

I will copy and past below

I’ve never wasted a panty in my life. You’re projecting.

“Citi laidoff very few people in the mortgage area and will be hiring soon. …Stop the negative press.”

Not sure how you can think you know that, but it ain’t so.

I guess I can stop posting…for you.

Let me tell you something lady, you will always be NUMBER ONE on my list. I know you’re lurking like a snake in the grass ready to slip up and jump me. You’re the worst sort of housing terrorist/liberal; the quiet sneaky kind. Well, you don’t fool me with your tactics and I will NEVER ease up in keeping an eye on you.

As to your question as to what I want. I’ve requested numerous times that you absent yourself whenever I’m posting and you’ve yet to comply with this reasonable request. When can I expect compliance?

Meh – it’s all hype.

How west would you need it? Are you from Pennsylvania? Kansas?