Bloomberg News - Ex-Trader says a coffee boy gets paid £400,000 at top firm

Coffee Machine

Nice work if you can get it.

Bloomberg News reports that a former Barclays trader accused of rigging a benchmark interest rate downplayed his seniority at the bank, telling a London court that his job was comparable to working at a fast-food restaurant.

Being a vice president at Barclays is “the equivalent to the guy that serves you in McDonald’s,” Carlo Palombo said Thursday during his second day of testimony.

'You weren’t paid 400,000 pounds for being a tea boy, were you?', prosecutor James Waddington later asked.

'It’s ridiculous, but I was,” Palombo replied. “As ridiculous as it sounds, a coffee boy at Barclays gets paid £400,000 a year'.

Palombo denies wrongdoing.

Hit the link below to access the complete Bloomberg News article:

Trader Compares Being a Barclays VP to Working at McDonald's

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