
Court Rejects Silicon Valley Hiring Settlement - igonvalue
http://mobile.nytimes.com/2014/08/09/technology/settlement-rejected-in-silicon-valley-hiring-case.html
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gaius
Apple makes an annual revenue of $2m/employee. To put that into perspective,
Goldman Sachs makes about $1.2m/employee. Apple has a perfectly good mechanism
at it's disposal for retaining staff - pay them more.

I hope they get taken to the cleaners over this.

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rayiner
What's even more telling is that engineers probably make up a smaller
percentage of Apple's employees than bankers make up Goldman's employees
(since the latter doesn't have much of a consumer retail presence). The
engineers and designers at Apple are generating tremendous value for the
company, but not getting compensated anywhere near the bankers at Goldman.
People might not like banking as an industry, but it has the right approach to
hiring. Instead of colluding to suppress wages or preserve relationships or
whatever justification tech companies use, they write big bonus checks. That's
how a free labor market is supposed to work.

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harryh
You think this has to do more with cultural differences due to Goldman's
historical roots as a partnership, or with structural differences in the
banking vs technology industries?

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apu
And has this been true historically for the banking industry? Or did the
workers claw more and more of the compensation over time?

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harryh
Definitely true historically. Probably even more so. All the big banks used to
be partnerships (like law firms) not public companies beholden to
stockholders.

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revelation
Here is the primary source:

[http://de.scribd.com/doc/236259646/Koh-Rejects-No-poach-
Sett...](http://de.scribd.com/doc/236259646/Koh-Rejects-No-poach-Settlement)

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hga
Major discussion of this here:
[https://news.ycombinator.com/item?id=8154730](https://news.ycombinator.com/item?id=8154730)

