Comments (20)

 
  • Intern in IB - Gen
Sep 27, 2020 - 10:28pm

All of that's fine and everything.

But do you mean you anticipate a vaccine coming through? Or do you mean regardless businesses will open etc? If the latter, um, not sure.

If the former... maybe. But you do appreciate that immunity with this Covid is short-lived, right? Thereby reducing effectiveness. Also, no guarantee of vaccine working perfectly. Also, if this thing lasts until Q2 2021 end, most companies will have invested in long term remote solutions etc.

 
  • Intern in IB-M&A
Sep 27, 2020 - 11:56pm

Spoke to a BB analyst and his bank are already starting a plan to phase people into the office. If they're doing that now, they should likely have everyone in the office by next summer, so there's really no way SA's won't be in the office.

 
  • Intern in IB - Gen
Sep 28, 2020 - 8:40am

NYC? I know that in LDN some banks started 1 week in, 1 week out model. However, they started this literally 1 week before the government changed tack and backtracked from asking people to come in.

Let's be honest here, if any of the banks are starting to phase people back in to the offices, it means that other businesses are doing likewise (whatever your region). Which in turn means that there is more exposure overall and that cases will go up. As cases go up (Europe is a great example), you need to reinforce restrictions. Restrictions/lockdowns bring cases down and people start thinking of returning outdoors/to offices etc. As they return... you get the point. The cycle goes on.

Unless I am mistaken, globally we are at kind of a stalemate. Personally, I would say that it is pretty myopic of most banks to bring people in just for the sake of it in these times. People have worked fluently so far and can surely continue (we are talking of some of the most developed economies and their infrastructures).

 
Sep 28, 2020 - 9:02am

Of course banks are planning RTTO... we've been planning it for months now.

Its one thing to be forward thinking and have a robust plan if we're back in 2 months and also a robust plan if we need to solve for longer term WFH solutions.

It's another thing entirely for a bank to commit to "yeah SA21 will be in office". It's completely up to management's discretion and they can quite frankly do whatever the fuck it is they want. You can bet your life they'll be more inclined to deal with productivity hits and keep people WFH (some LOBs are more / less sensitive to this than others, i.e. S&T) sooner than they'll risk forcing people back and getting sued.

 

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