Will we be able to work from anywhere?
Self explanatory... do you guys think that employees working from home from whatever city they want is in the future?
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Honestly I was wondering this myself. Will definitely try and push for this in the future..not like it's impacting our team's performance and I think most people are incrementally a little happier to be at home
HF is one area i can see this happening more often. Communication is typically only between you and your PM and a lot of travel is involved. A lot of PMs are also on the road or at vacation homes quite often. Prior to the pandemic I knew of a handful of analysts that worked from home at Hedge Funds.
My thoughts on WFH for other finance roles -
VC - Likely as they tend to follow their teck countparts PE - Perhaps some smaller shops but not much overall ER - Similar to HF, have seen some examples in the past IB - I dont see it happening Corporate - Maybe some teck companies but not really
For IB/Corporate when you work across teams with multiple people its very hard. Nobody wants to jump on a Zoom call every time they need to have a 30 second conversation with you.
Yes I see HF going that way too. I cant speak to the others.
Not at all. Just heard some dude leaked a bunch of company data while working from home. See you back at the office.
This is the HF forum, not Investment banking analysts not knowing best practices to handle confidential info-forum.
Leaked it on purpose... but if you think you are so special let's see in some months if you are still at home. I mean, you all have data about current positions and research on what'll be future positions. If your directors trust you with that info at home eternally then good on you.
my boss joked I should rent a ranch in wyoming and move there. PM said he will def work a lot from home until end of the year and in the future too and maybe only step in for meetings. Analysts like me can go to the office if we want but have the option to work from home. Maybe just meet once a week in office to see each other's ugly mugs and move on
Realistically yes. Let's be honest, all you need is: - Stable internet connection - Decent company connectivity (VPN, file sharing platform and some form of instant communication such as MS Teams or Skype) - Basic hardware such as a laptop (although having 2 screens helps, it is a luxury. The very basic is a decently sized laptop and perhaps 1 additional screen for support)
With this combination you could virtually work anywhere. I also think that as business changes and current generations step up into more senior roles, they will care less about the in-person presence bankers/investors/consultants have. It won't be totally eliminated, but I think we can all agree that 70-80% of current in-person meetings could be just as successful virtually. Additionally, if quality of work is all that matters working remotely is a minor or nonexistent hurdle to achieving that.
There will be people who miss the bullpen banter and want a sense of camaraderie, but at times change and we get more use to remote working I think 1) people will seek it less and 2) people will find ways to interact and connect with others outside of an office setting.
Plus, from a business standpoint it makes total sense to have a larger remote workforce and minimal office space. Reduce your rent, invest in good IT infrastructure and only have a small portion of your workforce regularly come to the office.
The one main issue I see with this is the ability for a firm/HR department to maintain or develop a good company culture with everyone spread around the world. But I think we will have some case studies emerge from COVID that help us deal with this.
Bottom line is, I think the vast majority of us will be able to work from anywhere at any time and should push our companies to implement this partially at first so they embrace the concept.
Unlikely, because there is this very unfortunate thing called taxes (both personal and corporate, and maybe more for more complex fund structures) and differing regulations, and while many places might have exceptions for remote working now due to travel restrictions, it opens up a huge can of worms if it were to continue on a permanent basis into the future.
It's going to come down to firm culture and the age of the people running the show. If your firm is really paranoid about the world and its own employees, they will want them inside the glass cage. I don't want to sound discriminatory with regard to age, but around me I've definitely seen inverse correlation between age of fund managing partners and the push to WFH.
I also feel like there is significant difference between firms in how they have treated the shift to WFH. Many firms have been on the "penny wise, pound foolish" end with offering minimal support/tech hardware. Do you really expect your employees to work at the same capacity on a work laptop + clunky VPN vs a desktop + 2-3 screens and proper VPN?
Personally, I would love to keep WFH, which in reality means work from wherever I want (WFWIW). It would also bring with it some interesting tax benefits for those of us in Europe... In reality, I'm pretty sure most firms will require everyone back in the office come September (based on current trends).
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