“Close to the money”
Let's explore why you make more money when you are closer to the money.
Personal anecdote
Time for a quick anecdote to help you understand how real this is outside of tech.
When I was in investment banking, we not only directly acknowledged the profit center/cost center divide, we formalized it in department group names:
- Front office
- Middle office
- Back office
Front office
“Sales and Trading” and Corporate Finance dealt directly with clients, closed deals, and booked revenues; hence they were the front office.
Middle office
Risk and ...