Know most banks have brought their people back to in-person during the week. Is Citi still hybrid or are some teams hybrid still at other banks?
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Macquarie is still hybrid, I think
Confirmed
It has been amazing. I hope they stick with hybrid. The bank has a whole has crushed it last yr.
Do you know if bonuses have reflected that?
At CS and our "pod" all kinda decides like somedays we won't come in (a bit ad hoc basis). Usually in the office M-F but sometimes we take a tuesday / thursday off occasionally
Lazard and HL both NYC
laz Rx is in office M-F
other laz groups more lax I think, Tues - Thurs firmwide mandatory but still kind of flexible
Gugg is m-th in office
Permanently?
GS in office monday to friday FML
what a fucking joke
ROFL rip man
I love how bankers have to specify it's in-office M-Friday instead of fully back in the office, the distinction being weekends.
buddy who works at RBC says that is the firm policy going forward is 3x a week with mandatory Mondays
RBC is 4 days a week for S&T. 3 days a week mandatory for origination/IB.
My group does tues-thurs but very chill. Many weeks I only do 1-2 days a week- same w rest of group. No one cares about FaceTime in my group
Can second this!
Citi has told people to come back at least M-W, but there's a small % holding out as fully WFH (juniors) who haven't been forced in yet
WF is saying they want us back 5 days a week.
At CS only in person Tu Th everyone works remote after 5pm
CS is really clutching it... this is amazing
Good for them wow
Is this permanent or temporary?
Permanent. Spoke with their Houston team and they're going to be Tues & Friday remote as a standing policy
Do you still get food stipend if you're at home by 5pm?
No, once you go into the office you have to order from the firms sharebite portal or else no food reimbursement
CS analyst here, can confirm as well and it’s awesome. In 3 days a week, leave everyday at 5pm and log back on in my sweatpants at home.
PWP?
My team at BofA is in the office M-T, with a Friday WFH. I went in on one Friday as I really needed to get things done on that day and I was alone on the floor.
Which city is this?
Any firm still have people go in on Sundays like pre-Covid times?
Wtf that would be ridiculous
im at ubs and I go in 2 to 3 days a week. some coming in 1 day a week.
just lol at goldman in M-F.
What do you think are the better groups currently at UBS? Incoming SA for next summer here
Lincoln in office 3 days a week
Real investment banks only please
Group dependent at my bank. A lot of people seem to be coming in Tues-Thurs and some people just never come in.
Evercore decided on policy yet?
William Blair is 3 days a week T-Th.
Having people come in 5 days a week is an indication you are a dinosaur and your bank is going to lose on talent. The world has changed forever, the 5 day a week in-office paradigm has been proven to be less effective and not needed. Consulting firms have been offering remote perks for some time now, banks can try to drag their feet, but eventually they will all cave.
Has Blair communicated if this was here to stay?
They haven’t exactly said that, but throughout the firm it is pretty understood the future is hybrid from top down with many MD’s and some longer tenured associates even being fully remote.
There’s a bit of an anti-BB culture with much of the firms focus centered on outmaneuvering and being more innovative than the slower, larger BB’s (I hate the job/ IB, but think this is actually true from a firm culture and positioning standpoint). I think after the Jamie dimon quote about being in 5 days a week and banking being learned at the water cooler, the Blair ceo came out and said not acknowledging hybrid was pretty short sighted and he was surprised to hear that was a stance they were actually taking in today’s world. Additionally, the way Blair staffs is very decentralized in that it’s common to have teams made up of NY, SF, and Chicago individuals on the same deal and they pride themselves on it because they think it’s a competitive advantage. This makes me think they will continue to take a hybrid stance. It seems like this isn’t really the way other firms operate where it’s common to hear like GS SF or MS Menlo. There isn’t really a Blair SF or Blair CHI it’s just Blair because your deal exposure is more or less not location affected (especially post analyst level).
Exactly. I crunched the numbers to determine how much time I've been saving only going into the office 2-3x a week. I will never go in for 5 days a week. The IB life is actually manageable now. I'm honestly loving the job because of this.
Well not only commuting time but being able to laundry without having to wait on my weekend is fantastic.
I’m genuinely curious, when you say lose talent, lose talent to who? As kids won’t be able to just switch from IB to Tech due to a complete difference in Skillset. Also a lot of the times kids that like IB just won’t really like Consulting and vice versa, so I just find it soo hard to believe a lack of working from home will make someone switch industry’s entirely? I mean honestly I may be entirely wrong hence why i’m asking the question but I’m genuinely curious as to what you think they switch to for this?
Within finance and outside. Undergrads largely make uneducated decisions on their first employment, but anyone with 2+ years in their career is more conscious with their career decisions. If you are a bank that is bringing people in 5 days a week without flexibility, people will want to go to other banks or will leave the industry when they realize they can make equivalent money in a better situation. Additionally, the brightest people will realize the sham going on and won’t want to work for your firm. Best example: the smartest associates aren’t going to Goldman Sachs anymore. Another point, MBA’s are increasingly going to tech instead of banking.
Can confirm, other perk with Blair is the culture is very much in the office until dinner, WFH at night. Very different to go into the office and head home at 7 to go to the gym then finish work vs staying in the office until 1am
BMO nyc mandatory 3 days a week but you pick which.Most of office clears out by 6pm to WFH.
Could you do M-W week one and then do W-F the next week?
Yes fully allowed
Is GS really 5 days a week?
LMAO
Friend in IB has been going in since June/July of 2020. They baited him in through free food.
at least for my group i can confirm we are
MoCo - Monday through Thursday in office, Friday remote
nice
Baird is in office 3 days a week (T-Th). Policy has been very relaxed overall and keeping it will be key to retention in my opinion.
What time of day are people heading home after being in the office to WFH??
Some associates leave as soon as 5:30pm. Analysts usually 7-10pm. Some just spend the rest of their night in the office. Depends on preference and work intensity.
How about Barclays IBD?
JPM is 5 days every 2 weeks
that's pretty sick - is this for all offices / have they mentioned how long it will last?
This changing to 5 days a week every week.
Yeah I heard they'll be back full time pretty soon
God Jamie is such an idiot. Glad I don't work at JP anymore
Gotta say, I’m sort of dumb struck that young people don’t want to be in the office. The amount of learning that occurs from being near seniors is truly remarkable.
I really encourage young people to go in as much as possible, but that’s just me.
Well, the senior people don't come in so...
truly remarkable to get comments hand delivered with shitty handwriting vs typed out in an email
truly remarkable for a VP or senior associate to give me attitude when I ask how to do something in a merger model asked of me that Im having trouble with "you should ask your peer analyst these things not me!"
Shut the fuck up you annoying boomer dinosaur
legitimately had the urge to push you out of a window while reading this ngl
Barclays London is 3 days in the office every other week
What’s the update on Jeff’s policy?
I understand that this is for IB, anything for
S&T? Besides RBC’s 4 day in person work week?
What’s Evercore’s policy?
Reading this is really surprising. We were supposed to go back in September, but delta made MGT back off and everyone is WFH since then. Some people go in, but masks are mandatory. New guidance is starting Jan 3rd we are in 3 days a week.
Is no one else WFH fully right now? I thought Delta delayed everyone’s plans.
Non one cares about covid outside cancer patients and the elderly. Im in nyc and haven't worn a mask in 6 months.
My bank is back to office officially, but in practice some people just don’t come
Stifel in T-Th. Our group plans on sticking to this model and has no plans for 5-day in office
EVR is planning full RTO starting Jan… this is what happens when your founders are still running the firm.
the founders aren’t running the firm. this is what happens when you hire the GS guy to run the firm.
Anything on JefCo?
https://www.nytimes.com/2021/11/24/business/wall-street-remote-work-ban…
Article says JEF one of the only banks to implement hybrid model (3 days in office) long-term. Can anyone confirm if this is right?
Plan at Jefferies is to be hybrid. It varies group by group but general consensus is 4 days a week. The policy is not strict right now since they want to make sure you feel comfortable coming in. I know many juniors who have been doing 2-3 days and no issues.
I thought UBS and Citi also said they were going for 3 day hybrid model? I hope that's true because I'm gonna SA next summer at one of the two
Heard LAZ announced policy of 1 month work from anywhere in the world - any other banks that have implemented something similar?
Any word on MS?
well the senior bankers said you’re an idiot if you don’t go in
Bump
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