Situation: Interviewing for a role with a small credit fund, advertised as "on site" and "fully in office", located in a high tax state. About 20% of the team is fully remote, with no plans to return and living in low tax states. Senior leadership is 100% located in a different office.
My plans: get offer, after 9 - 18 months request for fully remote, or partially remote in a lower tax state. Comp is below market.
...Curious to hear opinions on the evolving remote work dynamic:
1. What is the outlook for remote workers at your workplace?
2. What are the trends for dealing with remote workers who moved away with no plans to return?
3. Anyone working remotely for part of the year (eg. for climate reasons, lower tax residency, other)?
4. How normal is fully in-office 5 days per week?
Based on the most helpful WSO content, here's what you need to know about the evolving remote work dynamic in asset management and related fields:
Outlook for Remote Workers:
Trends for Dealing with Remote Workers Who Moved Away:
Working Remotely for Part of the Year:
Normalcy of Fully In-Office 5 Days Per Week:
Given your situation, it seems reasonable to aim for a hybrid or fully remote arrangement after proving your value over 9-18 months. The trend is moving towards more flexibility, and your plan aligns with the evolving work dynamics in the industry.
Sources: WFH Should be the Default in IB, Im tired of going back into the office, any banks fully remote?, Work/Life Balance - Hours, Return to Office Sucks, Return to Office - 5 Days in Person vs. Hybrid Model
are you saying they want you in a high cost of living office when 100% of the investment team is remote or in a different office?
i wouldnt take that job. if comp sucks - ask for remote up front
About 1/4 of team is fully remote, remainder are in office. Senior leadership all at a different office.
this sounds like a shit setup. you can DM if you want to get into more details.
My firm does hybrid (3/5). My PM hates it and wants full office. 80% of the team moved to other states during COVID and aren't coming back... we're in a weird place right now.... haha
That said, if my PM had his way, we'd be 100% in office all the time.
So what are they doing with new hires? Presumably they want to only hire for in-office?
What happens when in 12-18 months the new hire asks to work remotely?
I'm that new hire that goes into office 4~5 times a week now and am considering remote working in a warmer state after the initial commitment....lol
Frickin boomer PMs, I hate them. Hybrid is a very fair model for AM, 2-3 days in office is reasonable. For HF I think 3-4 days in office would be more suitable but regardless you should have ~2 days remote IMO
I rarely if ever see fully remote jobs
After an initial period of 12 - 18 months seems to me that it will be difficult for them to require continued 4-5 days at office if 1/4 of team is fully remote, unless individual performance is bad.
My team does 3 days in person (TWTh) and 2 days remote. I’ve heard some rumblings of upper management potential pushing for 4 days in person but it seems unlikely given that a lot of the MO/BO are fully remote. Personally, I sometimes go in 4 times a week as I’m a junior analyst (1st job in the industry) and on Mondays like 20% of my team is there so it’s handy for asking questions.
A prior firm was 3/2. Current firm is 4/1, but very flexible within reason. That being said, I’m in the office 5 days most weeks, as are many of the folks I work with.
Are any of the team members doing remote? Seems to me that it’s fair to require 4 days in office if everyone is there, and if pay is at a market competitive rate.
My issue is that my particular job opportunity is located in an obscure high tax location and pays below market. I am only looking at this job because I am moving from a different geography and from an underperforming PE fund.
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