Any banker type that says something like that is an asshole or is really bad at math. Assuming he's a competent banker he's probably not actually bad at math and is just an asshole.

No, its not lower than minimum wage, even at the low end of that range, and even if they worked all 168 hours of every week.

$300K / 8,760 hours a year (assuming a non-leap-year, and 24/7 schedule) = $34.24/hour

Federal minimum wage is $7.25/hr; even with the +50% premium for overtime after the first 40 hours in a week, that's only $10.88/hr for the overtime hours. So its literally impossible to clear $300K a year and be making less than minimum wage, without some kind of weird time warping ability that lets you work 3+ years of 24/7 work in one calendar year.

EDIT: To respond to the edit of the parent post...

> My minimum wage comment was more about making a point.

What point is made by this drastically false claim?

> Banker types like to say they make lots of money but make less per-hour than a McDonald's employee.

If that's true (along with the compensation numbers you present), that tells us that one of the following is true:

1. Bankers are innumerate,

2. Bankers are ignorant of their own compensation,

3. Bankers are ignorant of the compensation of low-wage workers, or

4. Bankers are being dishonest, perhaps in an effort to deflect criticism of their compensation compared to other workers.

Looks like you are one order of magnitude wrong, even at just 300K a year working 100 hours a week that's over $50 an hour.