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re: Morgan Stanley CEO to bankers: If you want NYC salary, you need to be in NYC
Posted on 6/16/21 at 6:01 am to Cfrobel
Posted on 6/16/21 at 6:01 am to Cfrobel
quote:
And after 3 months of dealing with the outsourced employees the employer will be begging for the talent to come back.
You people all act like you aren’t replaceable. But you fail to realize that some younger, more arrogant frickstick than you is about to enter the workforce. And they’ll have as much contempt for you, as you have for the “boomers”. You’re so convinced you’re the only one who can do what you do. Good luck with that.
2
Posted on 6/16/21 at 6:05 am to fatsdominos
quote:
The boomers and those with the boomer mentality (lostinbr) can’t offer me anything in their noisy, crowded work spaces that would improve my productivity or happiness.
Y’all white collar baws really wanna go back to giving up over an hour of your life on the road to go share a bathroom with others, be constantly interrupted for small talk, and fight for private meeting spaces? I don’t get it.
I’m a millennial and I guess I’m weird, but it’s the in-person interaction with other people, the daily movement, and ability to be productive somewhere other than my home that makes me feel human. Whereas working from home makes me feel like a hermit.
Nothing against your point. My wife works from home full time and I recently realized that most days of the week, I’m the only person she actually interacts with anymore. It made me feel sad for her.
Posted on 6/16/21 at 6:14 am to Bluefin
All of the studies on working remotely seem to take place on those who work in call centers, areas that really require 0 in person meeting.
Posted on 6/16/21 at 6:15 am to RedRifle
For years I ran my daily duties from Baton Rouge when my business are in Missouri, Nebraska, Minnesota, and one location in Tennessee. My duties toward the last few years was in purchasing and helping the person who bought me out manage the businesses money.
Zoom, Skype, and now Microsoft teams makes things some task easier. Still is hard to mentor your counter and salespeople not being onsite. I do miss driving with salespeople to meet customers.
Some equipment mfg’s have had training classes done like this for a few years. I do think you miss out on the hands to hands part of the training. It has helped roll out some specialized training in a timely manner.
There are some things that still need to be done in person and it is hard to replace hands on training or mentoring.
Zoom, Skype, and now Microsoft teams makes things some task easier. Still is hard to mentor your counter and salespeople not being onsite. I do miss driving with salespeople to meet customers.
Some equipment mfg’s have had training classes done like this for a few years. I do think you miss out on the hands to hands part of the training. It has helped roll out some specialized training in a timely manner.
There are some things that still need to be done in person and it is hard to replace hands on training or mentoring.
Posted on 6/16/21 at 6:25 am to RedRifle
The training/new-hire issue is the elephant in the room with permanent work-from-home with a lot of jobs. He’s absolutely right about that aspect.
Posted on 6/16/21 at 6:25 am to RedRifle
Good for him
Posted on 6/16/21 at 6:31 am to TheeRealCarolina
quote:Or NY taxes
NYC salary isn’t enough to deal with NYC shenanigans.
Posted on 6/16/21 at 6:36 am to Lima Whiskey
quote:
I expect banking would lose a lot of its prestige if it was all remote work - and it wasn’t in NYC.
A lot of it is a circle jerk house of cards to start with. Grads out of college thinking 90k grad program then analyst, associate, director all just to afford the flat, 50% Manhattan taxes, and work 70hrs a week, and be surrounded by brads and chads and their basic bitch girlfriends with Hermès.
Working remotely and that house of cards rat race loses curb appeal quickly
Posted on 6/16/21 at 6:37 am to Mo Jeaux
quote:
Why?
He said why
Posted on 6/16/21 at 6:38 am to GRTiger
quote:
I blew an employee's mind when after hearing about how he worked 70 hours this week, 80 hours that week, I told him that people before him did that work in half the time, and that maybe his long hours were a sign of inefficiency more than hard work.
Too many people confuse activity with productivity.
Posted on 6/16/21 at 6:46 am to RedRifle
It’s actually abusive and constitutes violence against those who are still suffering from pandemic ptsd. It’s also the same capitalistic tactic used to subvert BIPOC and trans groups.
Posted on 6/16/21 at 6:48 am to SoFla Tideroller
I am laughing at all of you that think this will shake up the financial industry. Blankfein and Diamond have also said they will be bringing folks back to the office.
Posted on 6/16/21 at 7:07 am to tigerinthebueche
quote:
You people all act like you aren’t replaceable
Talent may not be the best word but I think you highly underestimate the knowledge it needs to do some of these jobs. It certainly is not a quick process to build up that knowledge and simply put, it’s a huge risk right now and it stretches and strains resources when even one above average person leaves on some of these teams.
Or it may not even be a knowledge issue.
At my old firm, I managed cash requirements for for one of our subsidiary’s firm’s relationships. For a full year, I was the only one who even had access to the external systems to do the work. They’re very lucky I didn’t take a day off for a year because they’d have been screwed because they’d miss cash requirements and have gotten a huge fine.
Posted on 6/16/21 at 7:11 am to RedRifle
I can't believe there are still people working from home
Posted on 6/16/21 at 7:11 am to SabiDojo
quote:
It’s actually abusive and constitutes violence against those who are still suffering from pandemic ptsd. It’s also the same capitalistic tactic used to subvert BIPOC and trans groups.
wtf are you talking about?
Posted on 6/16/21 at 7:14 am to tigerinthebueche
quote:
You people all act like you aren’t replaceable
What if I told you there were lines of work with massive talent shortages, and in those fields people are most certainly not replaceable?
Posted on 6/16/21 at 7:14 am to rondo
quote:
I can't believe there are still people working from home
Why would I want to work in an office when I can do my job from anywhere in the world with a network connection, and I have no need to interact in person with anyone?
Posted on 6/16/21 at 7:22 am to lostinbr
quote:
Yes - top performers figure out how to be productive from home. They work their asses off no matter what. For every high-performing employee, there are 2-3 average employees and probably 1 who is just going through the motions.
Thank you! Well said. As a small business owner, it’s exactly this. It’s not always about helping out just your best or just the people that can WFH, it’s about what is the best thing for your business.
I’m not a huge guy on ‘culture’ and everyone at the office being buddies, but there’s definitely some worth in people knowing each other and that just doesn’t happen at all when your only interaction is brief phone calls, emails, and Zoom meetings.
I really think most companies will move to something like a flex schedule with some days WFH and some days in the office. I like allowing WFH on Wednesdays and Fridays for half the people every other week, so you still have enough people in the office those days to get everything done but some people get to WFH.
I also laugh at all these people that point out their one job they can do from home. Honestly that’s great guys, honestly good for you. But let’s pull your head out of your arse and realize the entire company can’t do that.
Posted on 6/16/21 at 7:24 am to Centinel
quote:
What if I told you there were lines of work with massive talent shortages, and in those fields people are most certainly not replaceable?
What if I told you that’s great and we get that, good for you. But not every single industry and every single business is like that? Again, if you can do that great. But let’s not act like just because you can EVERYONE can.
Posted on 6/16/21 at 7:25 am to LouisianaLady
quote:I totally agree with this. I think many offices could employ a hybrid schedule and satisfy the majority of their desk job workers with a 2 days in office/3 days WFH situation. I worked from home for 4 years pre-covid, and it worked well. But there were times when I was called into the office to work on projects, and I couldn’t deny that there were clear benefits to in-person collaboration as well. Productivity is an interesting thing. I think too much time in the office can lead to apathy and distraction, while too much time out of the office can lead to procrastination and creativity stifling. Businesses who can afford to switch to a hybrid system might actually benefit while satisfying their employees. Could be a win-win.
While what you posted may be true, it is too narrow and limited... and doesn't consider that many jobs differ from each other.
A lot of jobs can be done 100% remote. A lot of other jobs need 2-3 days a week in the office. Also plenty of jobs need 100% in person.
There is no one size fits all, and the problem is that a lot of people in groups 2 and 3 ^ are up in arms because they want to be in group 1 even when it limits them from being able to fully perform their jobs.
I think the right way forward (at least in a smaller company where you have good rapport with your supervisor/boss) is to discuss the pros and cons of remote work vs. in-person and negotiate a hybrid schedule if there are aspects of your job that just need the in-person.
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