- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Morgan Stanley CEO to bankers: If you want NYC salary, you need to be in NYC
Posted on 6/15/21 at 10:49 pm to jfw3535
Posted on 6/15/21 at 10:49 pm to jfw3535
They should offer national median salary to anyone wanting to work remote. I for one would have taken a pay cut from my last job just for the privilege of living anywhere I want and not having to drive to an office.
0
Posted on 6/15/21 at 10:51 pm to kywildcatfanone
quote:
It's a bluff
Nah. Religious devotion to "office culture". The boss thinks they can't devise new ways to frick people over unless they get together in the same room.
Posted on 6/15/21 at 10:56 pm to latxwoman
quote:
He's likely very old. Good luck old dude, this is the future.
I expect banking would lose a lot of its prestige if it was all remote work - and it wasn’t in NYC.
Posted on 6/15/21 at 10:58 pm to RedRifle
quote:
If you want to get paid New York rates, you work in New York. None of this, ‘I’m in Colorado and work in New York and am getting paid like I’m sitting in New York City,’” Gorman barked. “Sorry, that doesn’t work.”
Doesn't this make sense though?
Posted on 6/15/21 at 11:02 pm to fatsdominos
quote:
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 get it. Most large companies have a useless layer of middle management who’s entire existence is predicated on micro-managing lower-level employees. They can’t justify their jobs when everyone’s at home.
Posted on 6/15/21 at 11:13 pm to chillygentilly
Many companies have done away with the complicated hierarchy of managers. Its just overhead.
If you can't trust someone to make you money without looking over their shoulder, cut them.
If you can't trust someone to make you money without looking over their shoulder, cut them.
Posted on 6/15/21 at 11:13 pm to RedRifle
I work for a bank. I asked to work remotely full time rather than return to the office of a few months and I was told only established management were allowed to do that. Also, the understanding is that if you do work remotely, your probably the first one fired if it comes to layoff.
The people who work remotely absolutely are not going to have their pay reduced though other banks I have worked for have reduced people’s salary by moving their jobs.
That statement from the CEO is pretty strongly worded. You don’t often get something so openly combative. Especially considering banks are desperate to keep talent these days
The people who work remotely absolutely are not going to have their pay reduced though other banks I have worked for have reduced people’s salary by moving their jobs.
That statement from the CEO is pretty strongly worded. You don’t often get something so openly combative. Especially considering banks are desperate to keep talent these days
Posted on 6/15/21 at 11:28 pm to down time
quote:
If you can't trust someone to make you money without looking over their shoulder, cut them.
I don’t think your point about hierarchy of management is wrong but most jobs at banks don’t make the company any money fwiw.
Posted on 6/15/21 at 11:30 pm to athenslife101
quote:
Also, the understanding is that if you do work remotely, your probably the first one fired if it comes to layoff.
Are remote workers seen as less loyal, too?
Posted on 6/15/21 at 11:33 pm to RedRifle
LOL. No one will ever be corporate slaves again.
Big corporations know they’re saving millions by keeping people at home.
Big corporations know they’re saving millions by keeping people at home.
Posted on 6/15/21 at 11:35 pm to RedRifle
Time to start growing some balls you pussy liberals
Posted on 6/15/21 at 11:43 pm to chillygentilly
quote:
I get it. Most large companies have a useless layer of middle management who’s entire existence is predicated on micro-managing lower-level employees. They can’t justify their jobs when everyone’s at home.
Helps insulate the big decision makers from the fallout of their stupid decisions.
Posted on 6/15/21 at 11:53 pm to Lima Whiskey
No, but you are usually seen as less valuable. I cannot overstate how important networking has become as banks continue to shift further and further into advanced fintech. Not to say networking can’t be done remote but there’s no doubt it’s much harder.
Posted on 6/15/21 at 11:57 pm to Rhino5
Well, I know JPM and BoA have been pretty open about saying they were going to continue to reduce office space in NY until pretty much just sales staff and high value front office staff were left. Now it’s been a long time since I heard that so I don’t know if it’s true still but no reason why not. Companies don’t want to pay for space in NYC
Posted on 6/16/21 at 12:13 am to RedRifle
(no message)
This post was edited on 7/1/21 at 3:33 pm
Posted on 6/16/21 at 12:21 am to Eighteen
quote:
Sure, a few of them will likely find remote work…but after the initial scramble I don’t think there will be enough fully remote jobs for the amount of employees that want to be fully remote
There were always a plethora of remote jobs available pre-China virus, but much less people really thinking about it.
Now, that will be on the table except for jobs where it is legitimately necessary.
Posted on 6/16/21 at 12:24 am to RedRifle
Bankers to Morgan Stanley CEO: "k, we'll go work for your competitors who don't have this hold-up."
Posted on 6/16/21 at 3:03 am to RedRifle
quote:
Make no mistake about it. We do our work inside Morgan Stanley offices, and that’s where we teach, that’s where our interns learn, that’s how we develop people,
I think this is probably the most honest bit of it all. If you are a new graduate at entry level, you learn more from being around experienced peers than anything. It could seriously stunt some of the new intakes.
Now no doubt part of that issue is that in 10 years time when they have to hire externally it will cost them more etc. Than internally.
Personally I hate WFH, I’ve been in the office pretty much permanently as a result. I have a half hour commute which is long enough to unwind after but nothing extraordinary time wise. I much prefer being around people I’m dealing with, networking and just seeing and talking to an array of people I believe is good for you in general. Video calls I don’t think you are able to judge the other persons reaction properly
Posted on 6/16/21 at 3:40 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.
no
you mean the lazy Democrats who wanted "Covid" to go on for as long as possible for THIS very reason?
sorry, it's time to get off your Woke arse and actually show up..
This post was edited on 6/16/21 at 3:44 am
Posted on 6/16/21 at 3:50 am to athenslife101
quote:
to keep talent these days
at "talent" that word keeps getting thrown around in here like it should mean something
the CEO knows that most of this "talent" can easily be replaced at the drop of a hat. he's not worried about losing some "great talent" with this
if you work for Morgan Stanley and are still eating Cheetos, playing X-BOX, and drinking everyday ... it may be time to get back to the office...
This post was edited on 6/16/21 at 3:54 am
Page 5 of 15
Popular
Back to top
Follow TigerDroppings for LSU Football News