This is Exactly Why I Give Up on Michissip...I Mean Michigan

**JBMcB** · August-13-13, 07:43 PM

Originally Posted by 313WX

Well, asked and answered. Unions have no concept that education and ability drive pay. If the law firm were unionized, the kids would be getting $20/hour and the guys doing the exact same thing but have there for ten years would be getting $800 an hour.

**Locke09** · August-13-13, 08:23 PM

Originally Posted by JBMcB

Well, asked and answered. Unions have no concept that education and ability drive pay. If the law firm were unionized, the kids would be getting $20/hour and the guys doing the exact same thing but have there for ten years would be getting $800 an hour.

Right - education and ability. He has a Bachelor's not a Masters. he doesn't have his CFA yet, which some get instead of a Master's or in addition to a Master's, denoting they are very well-equipped in financial knowledge. He has one year's experience.

In the highest paid region in this industry, Connecticut, he would make about $78,000 according to multiple salary studies [[30% higher than the average salary for this classification). That's $39 per hour. Let's say $60 per hour with great benefits. That's less than 25% of the rate being paid. It's not about his salary, it's about the firm's rate.

I guess since the City's paying half and the State's paying half, all the firms just decided to double their rates.

I wish the News had asked what has been delivered thus far for the fees this company has charged since January 2013. Surely there must be something tangible for the millions in fees. Because if you're charging about $250,000 every two weeks, you've racked up millions in invoices. Perhaps something wonderful has been done and it really was worth the cost.