A short defence of bankers

This is a short post, the inspiration of which came from watching the news!

What made me wonder was why is there quite widespread castigation of bankers but not lawyers? Of course there is a case to answer as to the causes of the recession, what I am pondering is the salary aspect.

• The median salary for bankers and lawyers must be fairly similar at most levels, I would have thought that most senior lawyers and QC's earn very similar levels of income to a investment bank MD or Partner at a hedge fund
• At least banking has made big efforts to incorporate gender equality into the system, are we still waiting on a female member of the House of Lords? (I don't think pay equality is anywhere near close though)
• Also race hasn't really proved to be a deterrent to a career in banking Stan O'neil from ML and Anshu Jain from DB is evidence of this.
• Also its much less of a old boys club, whilst there are many Oxbridge grads in banking the senior levels are peppered to a higher degree with other university graduates, unlike the QC class.

I know al ot of my evidence is incomplete but I don't suspect I am far off the mark.

I guess the key is the lawyers ability to keep their mouths shut and heads down!!!

Chris