There's many differences to consider before calling it 'waste', however that's capital expenditure and not operational which is completely different.
http://nypost.com/2011/07/13/mtas-too-nice-pay/
Unlike construction, it's harder to find concrete operational numbers to compare to other more functional systems.
But here is an obvious one: Singapore (pop 5.4M) gives their MOT $2.3B for operational costs and and $4.6B for construction costs (the plan is to double the length of the MRT).
http://www.singaporebudget.gov.sg/budget_2013/expenditure_ov...
NYC (pop 8.4M) has operational costs of $13B, and no particularly ambitious construction plans.
https://en.wikipedia.org/wiki/Metropolitan_Transportation_Au...