The Food Chain Summary and Analysis

The organizational chart of an investment banking firm looks like a pyramid. At the top, the few managing directors scour the market for business, including encouraging companies to do an IPO, to buy other companies, or to sell them, to raise money through bond offerings - whatever will bring a big fee. The second tier, that of senior vice-president, was charged with attempts to bring in some business, but, most often, to direct the projects named by the managing directors. They make huge salaries and are beginning to have the time to enjoy them. Junior vice-presidents, comprising the third tier, are unhappy people. Because their tasks involve much of the detailed processing work, they typically endure fourteen to sixteen hour days with little time to enjoy their hefty income, usually around five hundred thousand a year. Though...