When will we return to the office?
When do you guys think we will officially return to the office? Cases are down and Biden is saying vaccine for all adults by end of May. Any thoughts?
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Never
Going to be Labor Day most likely
Do you think there will be a wfh component going forward or will it be the same as it was pre-covid?
A lot of execs were all about the “flexible” wfh prospects, but you have Solomon saying everyone’s going back permanently this week. These fuckers own too much real estate, so they’re going to make us all use it
The seniors are actually thinking of highly encouraging analysts to be in the office so they can learn from one another whereas the more senior and experienced people can WFH indefinitely if they so choose.
Do you mean experienced associates can work from home or do you mean senior bankers? Do you mind sharing what bank you're at?
Can't provide the bank name, but basically, the belief is that more experienced associates and VPs don't need any additional training / to learn from one another so they can WFH easily. Also, the deal-generating seniors like Directors and above don't need to be in the office to do their jobs. Many of them also live hours away so they are most happy with staying at home. This is obviously terrible for group morale where analysts start to think even more that they are dispensable and that no one cares about them.
In Europe, people are talking about summer - late summer. However, under certain restrictions, in office work is allowed now but I think you were referring to a more "normal" situation.
Maybe I'm wrong on this, but I don't think it is about cases/vaccines/etc. It obviously has to do with this, but these banks are going to take forever to get all of this stuff sorted. There are going to be a few different committees, COO involvement, HR, probably health consultants. There is no way of knowing how long that will take and given how slow banks move I would add time on to whatever your estimate is. They're all going to make a big thing of this, slogans, procedures. They're all going to retrofit offices with ridiculous shit, plexiglass, whatever else. Going to take a while.
Also, think about some of the current narratives. Vaccine? Great! Well, it would be great, but I routinely read articles that say "being vaccinated does not confer immunity, you could pass to others, etc, etc." I'm guessing a good amount of executives are aware that they can have their employees who are healthy return now and could have 100% return after vaccination. The thing is, they need to act like they're saving everyone's lives. What David Solomon said was a little surprising, that was not woke and he is NOT COVID-sArS-19 Virus conscious.
Not sure where you were this past fall, but this has essentially all been done. These committees already exist. Until the uptick in cases around Nov/Dec, most offices already equipped their offices with necessary precautionary measures and had people coming back in. The only difference now is that there are vaccines.
I wasn't around in the fall because I'm at b school. It's just my opinion that they're going to move slow on this due in large part to the safety charade optics.
https://www.cnbc.com/2021/05/04/jamie-dimon-fed-up-with-zoom-calls-and-…
Thoughts?
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