Partner's Compensation: A Theory of Salaries

"Senior managment's job is to pay people," he'd say, "If they fuck a hundred guys out of a hundred grand each, that's ten million more for them. They have four categories: happy, satisfied, dissatisfied, disgusted. If they hit happy, they've screwed up. They never want you happy. On the other hand, they don't want you so disgusted you quit. The sweet spot is somewhere between dissatisfied and disgusted."--Michael Lewis, The Big Short