TIL some people make literally a 100 times what the average person makes.
That doesn't mean that they actually get that much money for every hour worked, since the billed hours have to pay unbillable costs like office rent, admin overhead, taxes etc.
If you are willing to look beyond the rich world: world average GDP per capita is something like 10k USD. At 2000 hours worked per year, that 0.5 USD per hour.
Your `average' person already makes 20 times as much as the actual average person.
(Keep in mind, that the median is lower than the average. Check out http://www.bbc.com/news/magazine-17512040)
No it isn't. It's $5 an hour, barely under the US minimum wage.
Interesting that the global gdp is that high, actually.
Comparing to the minimum wage is still a bit misleading, since the wage share of GDP is far from 100%.
Firm partners are heavily compensated based on how much work they bring in, at most firms. But it varies.
This firm was diligent enough to question the very basis of the lawsuit and ferret out evidence that evidently neither of the parties realized they had that the patents had been properly bulk licensed. I've worked with some very good corporate lawyers, and learned from them and other sources that such diligent competence is by no means a given.
You really should be more educated about reality and acfual statistics.
Go watch the Park Avenue (2012) film on PBS.