I'm sure the head chef on the Titanic wasn't too happy when it started sinking either.

Big powerful organizations attract skilled employees by offering status, pay and economic security. And at the individual level, diligent and honest performance should indeed be rewarded. But the whole reason most of us obey the law and pay our taxes is founded on the idea of mutuality: our interdependence is essential to freedom economic success.

Commercial losses are ultimately a shareholders' problem. But when the public become shareholders or creditors by necessity, it's facile to say that individually successful employees are economic free agents who should earn the full reward of their productivity. Nothing prevents them from leaving to join a more stable competitor, or establishing their own funds: if they choose to stay with an organization that benefits from public expenditure, they've made a choice of financial security over financial liberty.

Besides, limiting the bonus payments of the productive employees when other staff rack up huge losses is a fabulous economic incentive to improve risk management and governance within the organization. Those who consider such matters above their pay grade or outside their job description are obviously not ready to leave the kiddie pool.

I've wondered this too. As an employee of a small company, I really wish I could use the same argument (and trust me, I've tried). "Hey boss, I'm doing the work of two people, at about a 40% discount to market rates for the average embedded engineer. You don't seem to think I'm average, and there's no question that you're more than happy with my performance. I realize business is off right now and sales suck, but why shouldn't I get a bonus/raise?" "Cause we don't have any more money, and the government won't give us any."

I really like my job, but sometimes it's tough not to be jealous of the world of big money and government.

I guess my answer to your question might be: "because Joe two floors down blew up, and we wouldn't exist as a company anymore if not for the government bailouts".

Try asking for the bonus Wall St style: "Hey boss, you know I am worth a lot. Pay me more or I quit. "

Your boss may find the money, or your new job will pay more.

The better way to do this is to find the other job, get that offer, then go to your current employer and say, "Another company is gave me an offer for more salary elsewhere, but I don't want to go there for reasons X, Y and Z. However (name financial reason - spouses are convenient) is pushing me to take the money. Can you help me?"

The fact that you went to your employer first, and you made it clear that you didn't want to leave, both go a long way to mitigate the possibility of bad emotional reactions. (They don't eliminate it, but they mitigate it.) And they put you in a position to renegotiate your salary. Furthermore if it doesn't work, your fallback is a new job at higher pay.

Be warned, though, that this is a bullet you can only fire once. Having done it, you've burned some social capital. If you keep going back to that well, your employer is going to eventually cut you loose.

Also be warned that if you have actually accepted a job elsewhere, you should never accept a counter-offer. In that situation your employer will be willing to offer a lot because they are desperate, but they know that it is just a question of time until they lose unhappy people. So they will work to replace you, and it is just a question of time until you are fired with no job offer in hand.

That's why if you try this it is critically important to go to your employer with the message that you want to stay, but (financial situation X) is a problem for you. (It helps, a lot, if the financial situation is both real and known to your employer.)