What's the worth of a banker, compared to an engineer?

Another letter on the forum which I do agree with to a certain extent. Some young people nowadays are too misguided on the importance of their profession, mistaking importance with glam. I have no doubt that for the world to advance, technological progress is important. That is not to say bankers are useless. Financial intermediaries are important too because they are a more efficient allocation of funds to investment projects. However, they are forever just that, intermediaries, not wealth creators! Think Albert Einstein, think Thomas Edison, you get the picture?

Anyway it's not that I regret studying Econs. I do not, I love Econs, even if I realise I won't fit into the "Albert Einstein world changing discovery" mould. My point is, study what your interests lie in, do not be seduced by the temporary boom or glam factor or certain occupations. And the world will be a better place for it!

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From The Straits Times

What's the worth of a banker, compared to an engineer?

I TRULY believe that the greatest contributors to the world today are the people who made what the world is today compared to 500 years ago.

Every nation is highly dependent on advance biomedical technologies, telecommunication, the Internet, drugs or aviation, et cetera. Professionals, engineers or research scientists play a major role in these developments since then. They are undeniably the people who contribute to the changing of an era.

There is today an overwhelming response of applicants for university courses on banking and finance. Instead, the number of applicants applying for engineering and science is going down.

Prospective students come to this decision most likely because of the booming financial sector now. These graduates receive higher pay packages compared to those of the other industries.

Banking and finance make only a small impact on the standard of living today compared to science and engineering. For example, a remisier or financial adviser assists an investor to make millions of dollars. They invest their money in funds and securities. This cycle keeps rolling. In what way does this contribute to improve technology to make a better world?

Compare this to engineers or research scientists. Which group makes a greater contribution that changes the world today? Do bankers deserve such income?

Teo Chet Hou