- 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 6/16/21 at 9:03 am to lostinbr
Posted on 6/16/21 at 9:03 am to lostinbr
quote:
Personally, I would be fine with grading each employee relative to their peers and bluntly telling them that they have to go to the office because they aren’t doing their job from home, even if their coworker in the same group gets to stay WFH. But no HR department at a publicly traded company is going there.
Hell, when we were full WFH from march to may of last year during Covid, we had one of our apps guys who was made to keep his camera on and logged in to a teams meeting all day so his manager could watch him.
1
Posted on 6/16/21 at 9:03 am to Mo Jeaux
quote:
Not all companies work like that though for all positions.
People are downvoting you and have no clue what they are talking about.
We have people working the same position from California to Maryland, none are paid based upon where they live.
This isn’t the same for every company, but there are companies that operate this way. We considered a move to California a few years ago, and this was definitely taken into account for us. My salary wouldn’t go nearly as far in Southern California as it does in Southern Louisiana.
Posted on 6/16/21 at 9:05 am to Centinel
quote:
Or if you're bringing in enough revenue, you have leverage.
Correct
There is definitely way to have leverage as an employee
If you're taking 200 million out of the door with you to another firm you have leverage
Posted on 6/16/21 at 9:07 am to Powerman
what % of employees at a random company do you think have that type of leverage? 1%? 10%? 25%?
Posted on 6/16/21 at 9:07 am to LSUFanHouston
quote:
With zoom, teams, screen sharing, etc, about the only thing you can't do, that you can do in person, is give the guy a handshake.
This.
I sit on video calls with new employees for hours working with them to get them acquainted with what we do for particular clients. But, we are also consultants, so we aren’t hiring new grads, everyone we’re hiring has experience doing what we’re hiring them to do.
Posted on 6/16/21 at 9:07 am to Crowknowsbest
quote:
Think about a new college grad starting a collaborative role at a corporation remotely. They would understandably be completely lost and probably feel very isolated.
Don’t know why you got a down vote. It’s 100% correct.
Posted on 6/16/21 at 9:08 am to LSUFanHouston
quote:
With zoom, teams, screen sharing, etc, about the only thing you can't do, that you can do in person, is give the guy a handshake.
While true, it’s just different and you know it.
Posted on 6/16/21 at 9:08 am 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.”
One of the more interesting things we will see in the next few years, is how the concept of "locality pay" changes.
Everyone should get paid based on their value to the company. If you can sit anywhere and do your work, then there is no need to adjust pay based on location.
If the employee is doing the same work whether he is in NYC or Colorado, then he should get paid the same no matter what.
Also, if that employee is sitting in Colorado, Morgan Stanley isn't paying for him to sit in NYC, and the office expenses in Colorado (if the employee reports to an office in Colorado) is going to be less than NYC office costs.
So the company is going to save money. And last I checked, MS is a public traded company, so I'd imagine their shareholders like saving money.
Sounds like the guy is very old school. Article says he's been going to the office 4 days a week since July. So he's very much a "this is how I do it, so this is how you will do it" guy.
Ultimately it comes down to, how much leverage to the employees have. If they want to work from home, and they have options at other companies that will allow them to do that, then MS will suffer.
But a company with the global reach of MS should already have enough resources in place to allow employees to collaborate from across offices. And if you are collaborating from across offices... what the heck is the difference if it's from 10 "individual" offices in homes?
Posted on 6/16/21 at 9:09 am to Epic Cajun
quote:
People are downvoting you and have no clue what they are talking about.
We have people working the same position from California to Maryland, none are paid based upon where they live.
This isn’t the same for every company, but there are companies that operate this way. We considered a move to California a few years ago, and this was definitely taken into account for us. My salary wouldn’t go nearly as far in Southern California as it does in Southern Louisiana.
Many people, and a significant percentage on this board, have a very myopic view. In my industry, with limited exceptions, associates are paid the same in every office (not counting some bonuses). It's only at the counsel and partner levels when compensation generally is not lockstep.
Yeah, this may not be the prevalent corporate America way of doing things, but serves as a reminder that things are not the same in every industry.
Posted on 6/16/21 at 9:09 am to Centinel
quote:
Hell, when we were full WFH from march to may of last year during Covid, we had one of our apps guys who was made to keep his camera on and logged in to a teams meeting all day so his manager could watch him.
frick. That.
Posted on 6/16/21 at 9:11 am to Klark Kent
quote:
what % of employees at a random company do you think have that type of leverage? 1%? 10%? 25%?
I would just be spit balling it but considering these are all white collar jobs that can be worked remotely it's probably higher than you think
15% maybe?
Posted on 6/16/21 at 9:12 am to Oilfieldbiology
quote:
While true, it’s just different and you know it.
Of course it's different.
Different doesn't mean worse.
My 23 year old accounting graduates that I train, honestly, I think learn BETTER with me teaching them remotely.
Remember, this is a generation that has grown up being more comfortable in virtual environments, than in physical ones.
Posted on 6/16/21 at 9:12 am to Centinel
quote:
Or if you're bringing in enough revenue, you have leverage.
My mom and dad were really big union people and this was always a point of contention between me and them.
Some people want the protection of a safe environment where you have to deal with all sorts of bureaucracy (especially when it comes to the employer recognizing your value).
Some people want the freedom of a risky environment where you have to create value, but if you do, the sky is the limit and you aren't bound by draconian rules.
This WFH debate/chaos is going to end up being split along those lines, I imagine, just from different angles.
This post was edited on 6/16/21 at 9:13 am
Posted on 6/16/21 at 9:17 am to Mo Jeaux
quote:It's just a bunch of baws with narrow POVs telling others to not view things through their own personal narrow POVs. The same ones telling people to not look at their personal situations as it relates to remote work are the same ones calling for everyone back into the office because their arrangement is made more difficult with WFH.
Many people, and a significant percentage on this board, have a very myopic view.
Some people can and should be allowed to WFH. Unfortunately, both employers and employees are generally too stupid, unaware, and personally invested to make that exercise an honest one.
This post was edited on 6/16/21 at 9:19 am
Posted on 6/16/21 at 9:18 am to LSUFanHouston
quote:
Remember, this is a generation that has grown up being more comfortable in virtual environments, than in physical ones.
That’s a generalization that is likely more true for young people in some industries (tech) than others (real estate, front office finance).
ETA: using those examples as stereotypical ends to the personality spectrum in the white collar job world.
This post was edited on 6/16/21 at 9:21 am
Posted on 6/16/21 at 9:33 am to Oilfieldbiology
quote:
frick. That.
Well that's what happens when you're busted out shopping when you were supposed to be "working from home".
ETA: He was basically told it's either he keeps his camera on, or he needs to find other employment. The main thing that pissed his manager off is he didn't say anything. When I'm working from home, I just let my boss know I'm running an errand...just like I do if I'm in the office.
This post was edited on 6/16/21 at 9:44 am
Posted on 6/16/21 at 9:44 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
I think you will be shocked how much a hybrid type model of WFH and office will be used going forward.
Yes maybe huge hedge funds and banks require in office but tech and other corporations will use a hybrid model.
Posted on 6/16/21 at 9:48 am to Magician2
quote:
Yes maybe huge hedge funds and banks require in office but tech and other corporations will use a hybrid model.
It's honestly the best of both worlds. You still have a couple days in the office to attend meetings, training, or whatever...yet not wasting your entire week on a commute or just sitting around twiddling your thumbs in the office when it's slow.
Posted on 6/16/21 at 9:51 am to Magician2
quote:
I think you will be shocked how much a hybrid type model of WFH and office will be used going forward.
I think long-term working from home will be squashed. If you can consistently work from home, you don't need a supervisor, which means your manager doesn't have as many people working for them, which means their salaries go down.
Posted on 6/16/21 at 9:54 am to Centinel
quote:
It's honestly the best of both worlds. You still have a couple days in the office to attend meetings, training, or whatever...yet not wasting your entire week on a commute or just sitting around twiddling your thumbs in the office when it's slow.
The thing is, this will prohibit people who took extreme risks (like moving to Colorado when they're based in NYC, per the OP) from participating.
Page 9 of 15
Popular
Back to top
Follow TigerDroppings for LSU Football News