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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. 

 

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. 

 

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. 

 

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