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Started By
Message
re: Morgan Stanley CEO to bankers: If you want NYC salary, you need to be in NYC
Posted on 6/16/21 at 1:47 pm to Mingo Was His NameO
Posted on 6/16/21 at 1:47 pm to Mingo Was His NameO
Usually not faxing over a bunch of paperwork when we're talking about $5-100B+ transactions lol
1
Posted on 6/16/21 at 1:54 pm to Cfrobel
It's a math equation. If an Indian firm cost 1/6th the price but takes twice as long it still works out in their favor.
Posted on 6/16/21 at 2:12 pm to Louie T
I still think that development and building in person relationships and rapport is still important for the future.
I can probably guarantee you the people you start to see populate upper management positions in a decade are people who were in the office.
You may be able to do your current day to day remotely, but how will you identify opportunities for advancement and learn the next skill set. Information becomes very siloed when you’re remote for almost all organizations.
I can probably guarantee you the people you start to see populate upper management positions in a decade are people who were in the office.
You may be able to do your current day to day remotely, but how will you identify opportunities for advancement and learn the next skill set. Information becomes very siloed when you’re remote for almost all organizations.
This post was edited on 6/16/21 at 2:17 pm
Posted on 6/16/21 at 2:26 pm to DeltaTigerDelta
quote:
Hopefully this will be the tip of the iceberg that triggers the implosion of the real estate market
Yep but when these home values bottom out a lot of people see the return of PMI requirements. It’s the wave of the future.
Catch the wave.
Posted on 6/16/21 at 2:30 pm to BobRoss
quote:
It's a math equation. If an Indian firm cost 1/6th the price but takes twice as long it still works out in their favor.
You couldn't be more wrong, but thanks for your input
Posted on 6/16/21 at 2:31 pm to southernelite
quote:
I can probably guarantee
Makes no sense
Posted on 6/16/21 at 2:31 pm to Epic Cajun
quote:
Our contracts guarantee that all work will be done stateside. I'm sure I'm not the only one with a job like that.
You're not. Our bigger clients all specify that any of their data may not leave the US under any circumstance. That means no foreign employees, at all. Many of them have this requirement due to regulatory reasons.
Posted on 6/16/21 at 2:34 pm to Mingo Was His NameO
Posted on 6/16/21 at 2:37 pm to Centinel
quote:
You're not. Our bigger clients all specify that any of their data may not leave the US under any circumstance. That means no foreign employees, at all. Many of them have this requirement due to regulatory reasons.
Even if your data can leave the US almost any professional service has to eventually be signed off by a US licensed and regulated person or entity. Accounting tasks can be farmed to India but the audit partner or CPA or licensed preparer has to eventually put their signature on it. All of those people are licensed and governed/regulated by a US entity.
An attorney may can get help from someone in India on research, but he's the licensed attorney and the only one that can represent the client
Etc, etc
Posted on 6/16/21 at 2:37 pm to southernelite
You can either guarantee something or you can't
Posted on 6/16/21 at 2:43 pm to MikeyFL
quote:
Sounds like the Morgan Stanley CEO has a lot of property in New York he doesn't want to see collapse in value.
ding ding ding
Posted on 6/16/21 at 2:48 pm to Mingo Was His NameO
I can guarantee you’re a very obtuse individual.
Posted on 6/16/21 at 3:00 pm to southernelite
quote:I don't doubt this for many orgs.
I still think that development and building in person relationships and rapport is still important for the future.
I can probably guarantee you the people you start to see populate upper management positions in a decade are people who were in the office.
You may be able to do your current day to day remotely, but how will you identify opportunities for advancement and learn the next skill set. Information becomes very siloed when you’re remote for almost all organizations.
Posted on 6/16/21 at 3:02 pm to RedRifle
Flex/hybrid seems the most sensible now.
It’s stupid to bring people back just to chain them to their desks and have them play on the internet 8-5, with about 3-4 hrs of work getting done, while burning up water, coffee, cube leases, and power bills on the company’s dime.
On the other side, some folks don’t have the self discipline to WFH, and need to come in and be managed.
It’s stupid to bring people back just to chain them to their desks and have them play on the internet 8-5, with about 3-4 hrs of work getting done, while burning up water, coffee, cube leases, and power bills on the company’s dime.
On the other side, some folks don’t have the self discipline to WFH, and need to come in and be managed.
Posted on 6/16/21 at 3:05 pm to Rhino5
My company told us a long time ago we'd flip to a 2-3 days per week in the office type arrangement. Although if I'm going to be chained to where my company has a footprint, I'd be just as happy going to the office 5 days/week. I wanted fully remote so as to avoid having to live in TX/LA.
Posted on 6/16/21 at 3:06 pm to jchamil
quote:
How else are you going to take pictures of Broadway nights to send you country buddy in exchange for some homemade wine?
This is true, I can always use some muscadine wine.
Gonna be interesting to see if the employees heed the call or not.
Posted on 6/16/21 at 3:08 pm to BobRoss
not if taking twice as long causes clients to leave
Posted on 6/16/21 at 3:53 pm to Louie T
quote:
My company told us a long time ago we'd flip to a 2-3 days per week in the office type arrangement. Although if I'm going to be chained to where my company has a footprint, I'd be just as happy going to the office 5 days/week. I wanted fully remote so as to avoid having to live in TX/LA.
Yeah all good points. Remote allows you to live where you want. However flex/hybrid allows you to kick the 5-day grind of shite, showering, shaving and running yourself ragged all week. But it also gets you out of the house for a bit, while being able to go rub elbows in the office. I just can’t wrap my head around why people want to go sit in traffic and stay locked away in corporate again 8-5 if they don’t have to. Much of it is industry specific as well.
Posted on 6/16/21 at 4:11 pm to Big4SALTbro
quote:
I wouldn't want 100 percent remote unless I was a partner just because I feel like that freezes movement.
That's because the partners don't understand 100 percent remote. There's no reason you can't be 100 percent remote and be effective and promoted up all the way to partner... except the current partners want everything done the way they did it.
Posted on 6/16/21 at 4:14 pm to BobRoss
quote:
It's a math equation. If an Indian firm cost 1/6th the price but takes twice as long it still works out in their favor.
But usually they cost 1/6th as much per hour, but take 10x as long to get it right, due to all the re-work required.
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