With the coronavirus pandemic receding for every vaccine that reaches an arm, the push by some employers to get people back into offices is clashing with workers who’ve embraced remote work as the new normal.
More than a third of the respondents in a survey said they save at least $5,000 per year by working remotely
“They feel like we’re not working if they can’t see us,” she said. “It’s a boomer power-play.”
"If anything, the past year has proved that lots of work can be done from anywhere, sans lengthy commutes on crowded trains or highways."
JP Morgan CEO Jamie Dimon, seems to disagree.
"Work-from-home has to work for clients and customers not just for employees," says JPMorgan Chase CEO Jamie Dimon
GS didn't seem to agree either
Goldman Sachs CEO David Solomon said that working from home was “not a new normal” for the investment banking giant, calling it an “aberration.”
Link to article: https://www.bloomberg.com/news/articles/2021-06-01/return-to-office-employees-are-quitting-instead-of-giving-up-work-from-home
Doesn't surprise me, but if I am in office my MD better not be in the hamptons.
My biggest pet peeve with a lot of analysts is that they actively seek out groups at banks like GS and JPM that are known for being brutal and then complain about it once they get there.
I'll pull in $135-180K this year as a 2nd year analyst while working ~60 hours a week on average. My superiors respect my life, check in frequently to make sure we're appropriately staffed at the junior level and let me go home for dinner and WFH after 6-7PM. Moreover, our clients always end up happy, we execute quickly and we don't need to train new junior analysts from scratch every year because people stick around. I know I'll never work for KKR, Apollo or Goldman - but you'll also never find me crying on WSO that I hate my life and get abused by my bosses. If yall want to work at Goldman or JPMorgan, power to ya, but if you know ahead of time who you're working for don't act suprised when your ass is back in the office at 8:00AM sharp until midnight again.
Can you please give a general sense of where you work? Is it a LCOL city maybe? Save us. Thank you
Wouldn't call it a LCOL city - it's a tier below SF/NYC. Boston/Philly/DC/Miami. I will say that I definitely lucked out and it is hard to find a boutique that checks all boxes in terms of offering sharp MDs, good deal experience, good W/L balance and the chance for progression (at least through the junior levels). It is definitely not impossible though. My profile is incorrect, as I actually put in two years at a MM coverage group in NYC and then moved as an A2 to the boutique I'm at now, but even when I was in NYC my hours were still closer to 8:30AM to 10:00PM Monday-Thursday, an earlier night Friday and then 10-15 hours of weekend work. Range was more like 65-80 hours a week versus the 80 - 100 range I hear about at EBs and some BB groups. Granted I have ALWAYS sought out a sustainable work/life balance and even turned down an AS0 role in NYC because I didn't think I would be comfortable with the hours.
I really couldn't agree more. Some of my most fun times were working in LMM. why because the clients were fun, Hours were good, and generally I enjoyed the team a lot.
What bank are you at?
Echo this 100%, working in a LCOL city and will clear ~150k as a first year analyst in a group with seniors actively want and try to teach me, take group dinners and get hammered, and try to develop relationships with the juniors. Usually off between 9-11 and out the door by 6-7 on Fridays with mostly little weekend work (usually Fridays will be given an analysis or quick few slides to put together with the expectation to be reviewed Monday morning, so I can do it all on my own time), when a deal is kicked into high gear then yeah I'll pull 2am'ers for 3 weeks straight but that is by no means the norm. Not a powerhouse bank by any means but I still actively get hit up by recruiters and am comfortable the skills and experience I will get will prepare me for whatever I want to pursue in the future while being able to not hate my life and save significant amount of dough as a 23 year old idiot.
Fuga sunt error totam harum perspiciatis sunt. Eveniet modi harum facere voluptatem. Inventore a laudantium rem commodi.
Voluptates corrupti similique facilis laborum aut at. Harum voluptate voluptatem sapiente corporis sit. Beatae aut et fuga occaecati praesentium officia. Assumenda temporibus possimus cumque aut. Quis nostrum et autem autem distinctio nisi accusantium.
Eum inventore ad consequatur vel ad. Minus eum facere provident voluptate quam placeat similique. At qui vero maiores laborum. Dolore eos dolor placeat quasi dignissimos voluptate minima.
Dolor fugit consequuntur magnam omnis. Et voluptatibus quibusdam quo nam delectus.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...