A guy got called a "fuck ass" at my dad's firm and a harassment lawsuit hit. How do bankers and Steve Cohen get away with it???
My dad works in a F500 tech company and a software engineer filed a lawsuit which was settled out of court when the engineering manager walked over to his cubicle, reprimanded him for not working fast enough before ending his sentence with "YOU STUPID FUCK ASS!!! Which pussy did you pop out of to pull that sort of dog shit?!"
which was heard by half the floor. everyone on that floor agreed it was harassment and assault and encouraged him to file a complaint.
NOW how does steven cohen of SAC get away with yelling alll kinds of expletives on the trading floor or how do bankers get away with telling their analysts that they work like "dog shit"?
Off topic, but this is what it made me think of:
I will curse at my employees like Ari Gold in Entourage. And I'll fire any pussies that don't like it.
Because in banking, reporting shit like that kills your career. The money's too good, the community is too small, and there are too many people willing to turn the other cheek in order to climb the ladder. You make a stink, you get blackballed for life. It might be worth it if you're a paper pusher (high value of settlement compared to your salary, easy to get another job where nobody has heard of you), but it's not worth it on Wall Street.
The fuck-ass thing can be construed as anti-gay, which takes the incident to another level. I'll bet your MD's aren't walkin around alling people f******ts.
I'm with the software engineer on this one. Calling someone a "fuckass" in person is one thing, but to yell it out so the entire floor can hear is wayyy out of line. Hope that manager got fired for being an asshole.
Pussy.
stop playing internet tough guy. anyway, the guy works at a tech firm... how is this time sensitive that he walks faster? code isn't going to get written for the next release or beta scheduled 3+ months from now.... Ya the original account puts this as an event that is inappropriate at something like a tech firm but what CaptK said is very true and needs to be taken into account.... then again this is not a court filing so no clue on what really was said.
Bankers generally don't get away with it. I've worked at two banks in different environments (banking floors, trading floors) and have never seen anyone berate subordinates with ad hominem attacks. Maybe 10-15 years ago, but not now.
I agree with Gekkolives, it's simply not tolerated anymore. Plus banks are large enough now that firing a good MD for being an asshole doesn't kill a group--they're smart enough to cover clients with a team, so that if one MD leaves another can step in (and have a team of senior bankers below MD level that know the client well). This might not apply to trading floors where an MD can be a fucking rainmaker who gets away with anything because his P&L is dizzying and it's VERY easy to move to another firm/prop shop.
It's also because MDs want to get the best out of their teams, and they know that screaming at them and/or being a dick isn't the best way of doing it. Most MDs I know have such a commanding presence that shit gets done right without them having to resort to yelling or swearing. The only MDs that I've seen be a dick to subordinates are the toolish ones that are probably not the real hitters.
Swearing/saying inappropriate shit when it's not directed at subordinates e is still totally okay though and I've heard senior bankers at every level have some very choice words about clients, Risk/Credit, and the back office. Ditto for just swearing in general ("QE3 ARE YOU FUCKING KIDDING ME WHAT IS THIS SHIT WHO LET HIM ON TV").
The context is also important. I had a private 'networking' meeting with an MD the other day who said stuff that would have gotten him fired in an instant had the setting been any different.
That kind of language is relatively mild compared to my time on the trading desk. Perhaps you have to consider the sensitivities of a non-trader, but I'd say someone is in the wrong industry if that hurts their feelings.
The language on the floor is full of explitives, no doubt about it, but I rarely see another person directly attack someone else. You really cannot directly attack someone anymore.
Agreed, maybe in 1980, or even pre-2008. Nowadays this not accepted at all and I am sorry no longer is just getting on a desk guarantee to big bucks and high life, maybe in 2005-2008 it was worth it since you just needed a seat at the table, now a seat gives you what a year to prove yourself? If my boss ever called me out in person and basically teared me a new one and public embrassment and did not follow up with apologizing that day. I would be gone in seconds, I will find a seat at the table somewhere else and good luck replacing someone that fast.
Seriously, Alex give it a rest. Based on the way you have described your career and work style I am sure you would never take that from an MD or superior, so why would you ever expect a junior to take it from you.
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