Ok. First things first, the economy is not based on who's the most 'deserving' of the money that they make - it's never been that and never will be. You have to bear in mind that bankers get paid so much (even the support staff) because they are near a waterfall of money; the closer you are to said waterfall the more you'll get wet, whether you like it or not.
What bankers and traders do is provide a service. The bankers help negotiate, value, advise on and sell large-scale M&A/financing deals between corporate entities. Traders typically provide liquidity to the markets by taking the other side of trades as well as help to facilitate client orders. These activities, without bankers and traders, would not be available. That means, capital would be tied up in the markets and companies would find it hard to source financing for expansion or for strategic moves (like a merger or acquisition) to make them more competitive.
All of this would trickle down to the day-to-day lives of workers, shareholders and stakeholders being represented by the corporations and institutional investors. Company A can't expand? Well, there won't be any new job creation for that company. Pension fund B wants to exit a trade? Oops, a nice chunk of someone's savings is going to decay from the unfavourable pricing/costs of executing that trade without a trader.
Anyway, the point is, FO bankers are needed in order to facilitate high level transactions. And these transactions shape the global landscape constantly - what might just look like 'money making' to you, is actually a much more nuanced and complex system by which our financial services industry supports.
So, on a micro level, no it doesn't really affect me and the compensation is commensurate to the market place. However, in the grand scheme of things the work that I'll eventually do will help to underpin a secret financial machine - unseen to the everyday person. Besides, why wouldn't I want to bust my ass in order to reap the rewards out there?
Posted from TSR Mobile