Minnesota / Official will get $101,000 raise

If you think the salary is too low do not enter public service. What a ridiculous salary.

i knew it was just a "mental" recession we are in

I never have been able to grasp the concept of assumption that more money equals better perfomance. Its not a guarantee to anything. Why not try working out of the box and hire a hungry, up and coming protégé? The logic of paying more compensation is a tired old concept and not unlike the ridiculous idea that promoting someone into a new job is a good idea because they were so good at the completely differant job they were previously doing....duh!

Jealous, aren't you?

Movie Guy wrote:

If you think the salary is too low do not enter public service. What a ridiculous salary.

Right, if you think it is too low, stay out of public service. But what kind of senior investment person doesn't think this is too low? Someone that can't get a better job elsewhere, exactly the kind of person you want in such an important job like this.

yep. times are tough for them gubermint employees.

He is a hard worker and fully deserves this pay raise. He has a lot more responsibility than someone that works for Target or Walmart.

Yeah and his OLD salary was a heck of lot more than someone who works for Target or Walmart. Poor comparison.

This Needs to be Investigated by the Federal Government! B/S.

The President makes $400K and never pays for food, housing, travel, etc. It's called welfare. Expensing lobster and rib eye. We need a revolution - or I need therapy to make my mental recession and my whining go away.

They didn't raise his pay hoping he would perform better, they raised his pay to make it competative with the market so he wouldn't leave.

Let him earn compensation like other fund managers if you want to be competitive. Let him take a percentage of the funds he manages to pay for the investments. Quit taking our tax dollars to give pensions to public employees. Part of the reason this fund pays such a good return is that the percentage taken by mutual fund managers is paid by the state here.

who is watching for all the gifts that these people on the board get from the money managers, so that the state will give them some money to manage! no joke it happens all the time, dinners,golf,fishing,gambling it go's on and on this should be looked into.

tru dat wrote:

who is watching for all the gifts that these people on the board get from the money managers, so that the state will give them some money to manage! no joke it happens all the time, dinners,golf,fishing,gambling it go's on and on this should be looked into.

That's really uninformed. A little entertaining helps build relationships where people get to know each other. That helps in making decisions. But to say that someone chose a manager because of some free dinner is just really ignorant. Maybe a dinner out is some kind of "wow" to you, but about the last thing that people like this want to do is to go to another dinner.

Movie Guy wrote:

If you think the salary is too low do not enter public service. What a ridiculous salary.

That sounds like a great way to ensure that we have quality people serving the public interest.

Chris O wrote:

<quoted text>
That sounds like a great way to ensure that we have quality people serving the public interest.

This position serves the public employees' interests....

Pragmatist wrote:

Let him earn compensation like other fund managers if you want to be competitive. Let him take a percentage of the funds he manages to pay for the investments. Quit taking our tax dollars to give pensions to public employees. Part of the reason this fund pays such a good return is that the percentage taken by mutual fund managers is paid by the state here.

Excellent point.....

Let the free market determine his compensation.
a base salary + bonuses for performance.

WOW!!!!... Can you imagine a Government Jobs Force (including Teachers) that were compensated for performance vs "Time-in-Grade"?

No more 20% failure rate in the product the Government Indoctrinators....er Teacher's, produce!!!

Consistent wrote:

<quoted text>
Let the free market determine his compensation.

That's exactly what is happening, did you read the article? His conpensation was artificially low before his raise. Market rate for a position similar to this is about 250k. Just what are you smoking?

Why not pay him just like any other money manager get paid? Stricktly by performance.

Grizzly Adams wrote:

<quoted text>
That's exactly what is happening, did you read the article? His conpensation was artificially low before his raise. Market rate for a position similar to this is about 250k. Just what are you smoking?

Did you read the article?
or my post?

......"Let the free market determine his compensation.
a base salary + bonuses for performance."......

If the market goes down, and he makes bad descisions and he lets the fund lose, his income goes down ....if it is salary + bonuses.

The article states that his salary was "set".

My post was about the idea of using the Free Market in other areas of the Government to offer incentives for other people with jobs to produce too.