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The Middle Class Holiday Bonus Shaft

by @ 11:12 pm
Filed under: financial

If you read any financial papers or visit any sites with a financial slant around this time, you’re bound to run into an article or two about holiday bonuses. Generally the newsworthy ones are about bonuses granted to money managers and deal makers in big investment outfits.

The usual suspects are fund managers, top brokers, investment bankers, and the likes who rake in hundreds of thousands or millions of dollars in bonuses at year-end. Things were not rosy a few years back so bonuses weren't as generous then. Poor babies had to deal with abject destitute. Now that the good times are back and the financial companies are making money hand over fist, bonuses will no doubt follow the trend. If you're looking to get invited to a posh party this new year, I would definitely suggest getting in on the invite list of a fund manager.

One might rightfully ask me, "If you're so bitter about this, why don't you kick it with these boys?" fair question. Maybe I don’t have the instincts, or the guts, or the interest. Money isn't everything, and it's nothing if I hate my job.

At the opposite end of the spectrum there are those with lower-paying jobs. You know, the trash collectors, cleaning staff, bus drivers, etc. No question that sometimes their jobs are more meaningful and crucial than those of the top guys. But even some collect substantial amounts during Christmas time in the forms of gifts and tips. Certainly nothing to compare to what Wall-streeters rake in, but considerable relative to their regular wages.

What's left is the middle class. A few so called lucky ones get paltry bonuses and the rest, nothing. They are not high enough on the ladder to get the out-sized loots, and not low enough to deserve anything meaningful. And isn't it just splendid that tax season would be just around the corner, when the middle-class is expected to pick up the bulk of the tab? I can't wait to give that huge tip to the Fed.
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