Introduction
Here is how this book started.A friend with whom I regularly correspond once shared with me his career story over a Dean &Deluca lunch. After earing an advanced degree in mathematics, he was hired as a derivativestrader. After earning millions of dollars for the bank during the first year, they paid him a paltry bonus of $5,000. That was a tiny fraction of what they should have paid, based on industry practice.They knew he was young, that he didn’t know the benchmark, so they gambled that hewouldn’t complain. His comment to me was that “if they had paid me ten grand, I would havethought I was worth about ten grand.”