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  #16  
Old Mar 23, '12, 12:55 pm
ProVobis ProVobis is offline
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Default Re: As revenues increase in Archdiocese of Boston, 17 chancery employees rewarded with $150,000+ salaries...

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Originally Posted by He Man View Post
636 sq. feet in Boston will cost you $419,000, with no yard. 2bedroom, 1 bath, essentially a tiny condo.
And it takes approximately $3-10 million to generate enough money (at today's low interest rates) to pay a single $150k salary.

Point is that not all your income needs to be derived from church coffers.
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  #17  
Old Mar 23, '12, 6:47 pm
Geist Geist is offline
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Default Re: As revenues increase in Archdiocese of Boston, 17 chancery employees rewarded with $150,000+ salaries...

This nation has a glut of unemployed lawyers fresh out of law school with alot of debt who will take any work they can.

And yes, these are the guys the six figure lawyer subcontracts out his non courtroom work to; i.e. the ones actually doing the work/research and writing the briefs.

Oh yeah, alot of the established firms contract that work out to India now, nevermind.

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  #18  
Old Mar 23, '12, 6:56 pm
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Havard Havard is offline
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Default Re: As revenues increase in Archdiocese of Boston, 17 chancery employees rewarded with $150,000+ salaries...

The salary for the average police officer in my town is over $100,000.

But then, I live in the nearly bankrupt People's Republic of California.

The superintendent of schools in a nearby city makes around $300,000.
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  #19  
Old Mar 24, '12, 7:01 am
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JimR-OCDS JimR-OCDS is offline
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Default Re: As revenues increase in Archdiocese of Boston, 17 chancery employees rewarded with $150,000+ salaries...

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Originally Posted by ProVobis View Post
And it takes approximately $3-10 million to generate enough money (at today's low interest rates) to pay a single $150k salary.

.


How do you figure this?


Jim
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  #20  
Old Mar 24, '12, 9:00 am
ProVobis ProVobis is offline
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Default Re: As revenues increase in Archdiocese of Boston, 17 chancery employees rewarded with $150,000+ salaries...

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Originally Posted by JimR-OCDS View Post
How do you figure this?


Jim
It's called PV for short and it stands for Present Value. Any financial planner knows what I'm talking about. When one looks at a steady stream of income from a source, for example, a pension, he only looks at, say $50,000 a year. Whereas the entity holding the fund looks at a required $1 million @ 5% to be able to make that payment. Actually less since eventually the person will die or the entity will procure new contributions but I think you see the point.
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