Wanted to share a datapoint. MF that I work announced today we’ll be doing hybrid work permanently. Monday / Friday optional work for home, Tuesday - Thursday in office.
Feels like best fo both worlds, but wanted to share in light of the WSJ article that came out yesterday.
We also are raising asso salaries across the board in light of what is happening with banking / covid. Hope this helps for those discussing with their bosses.
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Damn, picked the wrong MF…being dragged back to the office next week and got a long email detailing how we are not doing any sort of hybrid (4/1, 3/2) model (will be expected in the office every day unless there is a management meeting, board meeting, site visit, etc.) Also no word on base salary increase
is this kkr? heard from a few they are going back sometime next week too
I'm at a MF as well and they announced we are doing a hybrid environment similar to the OP. It seems like larger PE firms want to stay competitive with the banks so they are instituting policies that might help attract candidates that have enjoyed WFH. I can't imagine smaller UMM / MM firms being okay with a hybrid working environment.
@OP Which MF is this?
My MM debt fund is having us come back at the end of the summer. Expectation is to do a 3/2 hybrid model for the foreseeable future. Unclear if the two WFH days are at employee election or pre-determined (I.e Monday and Friday are WFH days).
However, it seems obvious the hybrid model will not last forever and is more of a transition to coming back into the office.
There has been no discussion of raising pay.
Are you referring to your firm, or are you speculating about the industry in general?
If the latter, I am not sure you are right. I will probably walk if not given discretion over my physical location on any given day.
Referring to my firm specifically. Based on how our seniors have been talking, I just don’t see it as permanent.
FWIW I’m a big fan of remote work, I feel more productive and more on top of other “life” chores/responsibilities. Just not sure that sentiment is felt at the top of the house.
I'm at a UMM firm with a few types of business lines and we have two WFH days a month. No salary raise though and we already are under market.
2 WFH days a month?? What's the point of that? Are you constantly in in-person meetings?
UMM. Not finalized yet but likely 3/2 model. Wednesday/Friday WFH. Ain’t much but it’s an honest living.
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