Barclays Announces 4 Days Mandatory In-Office + No At-Home Meal Expenses
Referencing the NYC office, don't know if this is the same across all of Barclays' other locations. Policy kicks in October 3rd. The kicker is that the removal of at-home meal expensing includes weekends.
Naively thought that some of the post-COVID improvements in lifestyle/perks would be permanent. Seems now that the labor market is less favorable towards IB juniors, seniors across the street are saying “lol sike” and flashing us all a fat middle finger.
Really fucking tough pill to swallow following garbage bonuses, sky-high rent, increasing mortgage rates, unprecedented inflation, and yet another looming recession all joining forces to bend us over. If you really think about it, seems the only longstanding improvement to banking post-COVID is slightly higher base salaries, given bonuses were dialed back to keep all-in comp flat.
Thoughts? Any other banks announce similar belt-tightening moves recently? Any thoughts re. how this’ll affect talent recruitment/retention going forward?
No weekend meals at home is pretty fucked
This is idiotic because banks aren’t even paying these 99% of the time - it all goes straight to the client. In my 2 years I had probably a handful of meals that were expensed to my bank (rather than to client) when I was on pitches or something, but the bank is rarely ever eating this cost themselves
Could be worse, could be at Goldman lol
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at some point this joke is just no longer funny
But today is not that day
All the juniors in my group at barclays are very frustrated and pissed. Banks wonder why no one stays for A2A
Yea, fuck this bank. Terrible summer, terrible bonuses, bank bringing in tons of crappy senior level people from other banks making the work and culture terrible. Senior management is so incredibly un-self aware it’s comical (head of IB saying they want to be “#1 in junior comp” and then paying the worst A1 BB bonuses).
If I was a summer I would not have accepted a return offer - know several people who accepted other offers. Cannot wait to get out of this hell hole.
Barclays tryna be Goldman but pays 40% less and carries nowhere near the brand name.