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Wall Street grudgingly allows remote work as bankers dig in

nytimes.com

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Re: Wall Street grudgingly allows remote work as bankers dig in

#151

Post by airstrike »

jxidjhdhdhdhfhf wrote: post #86
actually_a_dog wrote: post #81

Earlier quoted context omitted.

> Or put another way, your competitors can compensate me less and I'll consider it a better deal. It seems a lot of people disagree with you: > In an accompanying survey of more than 1,200 technology professionals, Hired found that 75% of employees would begin looking for a new job if their salary were to decrease, while 45% of candidates disagreed with using the cost of living of the employee's location as a baselin…

But what if you turn that around? If you are currently remote but considering an offer from a place that's in-office, wouldn't you want a higher wage to compensate you for the extra hassle of commuting? That's extra free time you're never getting back.

Should I get a higher wage for living in a more expensive area in the city?

My wage is related to the work I do. How I choose to spend my money is a personal decision.

Re: Wall Street grudgingly allows remote work as bankers dig in

#152

Post by WheatM »

heavyset_go wrote: post #100
bko wrote: post #25

Earlier quoted context omitted.

> while your competitor says I can live anywhere and remote in I think most companies still consider your location when determining your pay. Facebook does for instance, even going as far as tracking your IP to make sure you're being honest. If you choose to move to a lower cost city, they'll adjust your wage. Not sure about the other way around. That'll probably eventually change, but it could be a useful indicator.…

> I think most companies still consider your location when determining your pay. Facebook does for instance, even going as far as tracking your IP to make sure you're being honest. If you choose to move to a lower cost city, they'll adjust your wage. Not sure about the other way around. Truthfully, I don't see this working out in the long run. Companies like Facebook are making desperate grabs to keep control over ho…

>In reality, if you're top tier talent, you can command top tier compensation no matter what your ZIP code is. Facebook's strategy relies on every other company colluding with them to suppress compensation based on locality.

Most people who think they're "top tier talent", aren't.

Re: Wall Street grudgingly allows remote work as bankers dig in

#153

Post by HideousKojima »

netizen-936824 wrote: post #119
HideousKojima wrote: post #104

Earlier quoted context omitted.

Employees can find another job. Or they can choose to have no job, and potentially starve to death etc. But the latter is the default of the human condition, and has little to do with the whims of corporations.

Ah yes they can just choose to starve to death! Couldn't slaves make the choice to be beaten to death or executed for not working? Thank you for proving my point

If you're suggesting that human beings are "slaves" to the natural condition, yes. Work or starve has been the default state of humanity (and all forms of life on Earth) since the dawn of time. It's not "slavery" or "capitalism" or anything else, it's the default state of being.

Re: Wall Street grudgingly allows remote work as bankers dig in

#154

Post by tuna-piano »

MrPatan wrote: post #92

I'm waiting for all the studies reinvestigating the height salary and career premium in the age of remote working.

I'd love to see a 2019-2021 salary change by height study. Or Zoom interview vs in person interview acceptance rate by height. Did short people benefit more compared to tall people given the remote work+hiring situation?

Re: Wall Street grudgingly allows remote work as bankers dig in

#155

Post by ghiculescu »

getYeGone wrote: post #77
lekanwang wrote: post #44

I'm finding with the teams I'm working with that the junior employees are the ones most impacted by not working from an office, but they often don't realize what they're missing -- the less formal forms of mentorship, stronger community, interacting with more people that's not on their team and in their role, overhearing context, the ability to have a 3-min quick chat with a senior person without a scheduled meeting,…

As a junior employee (1 year experience, entirely remote), you've pretty much hit the nail on the head. I've been having a miserable time working remote for all the reasons you've mentioned. It doesn't help that my team seems to really lean into independent work. The biggest thing that I wish I had was more opportunities to learn from senior devs. Now that I feel like I have enough experience to find a new job, I wil…

Don’t give up because of the comments here or because of your experiences. There are still companies out there that believe in hiring juniors and believe in the merits of face to face work - they are harder to find these days, but I think it’s a competitive advantage. If you’re in Chicago, London, or Brisbane, reach out.

Re: Wall Street grudgingly allows remote work as bankers dig in

#156

Post by crisper78 »

isbvhodnvemrwvn wrote: post #129
actually_a_dog wrote: post #125

Earlier quoted context omitted.

I'll make whichever argument gets me the most money in a salary negotiation.

Which is short sighted if you value your time at all. Spending an hour more a day commuting is directly decreasing the value of your life.

it increases the value of my life and many others. Stay home pretty please, I am sure you will be very successful by switching jobs every few months!

Re: Wall Street grudgingly allows remote work as bankers dig in

#157

Post by alasdair_ »

netizen-936824 wrote: post #54
credit_guy wrote: post #40

Earlier quoted context omitted.

Technology is not always the solution. If your employer asks you to affirm something, and you do that, and then cheat (because, let's say, cheating is technologically trivial), then you take a huge risk. A lot of people will not take that risk. It's enough to make example of 1 or 2 people who are caught, and the rest will fall in line in no time.

Is my opinion, the company is cheating the employee by paying them less for the same work just because they live somewhere else.

It’s more a legal thing. Companies have to follow the local labor laws and pay taxes to the appropriate states.

Re: Wall Street grudgingly allows remote work as bankers dig in

#158

Post by throwaway55421 »

I just wish I could find a 100% normal in person job. Like I had in Feb 2020.

I don't want to work from home.

I don't want to interact with others through a screen. Zoom calls are like torture to me.

I don't want to spend all of my time in the same place.

I want to go to work on the Tube, have lunch and go to the pub with my colleagues, and then go home.

I think video work is another thing we'll just regret in 10 years time, like how social media and the Internet fucked up communities. A sugar high for some, and then a crash.

Re: Wall Street grudgingly allows remote work as bankers dig in

#159

Post by pratik661 »

908B64B197 wrote: post #149
comp_throw7 wrote: post #143

Earlier quoted context omitted.

I think this would be an interesting hypothesis to entertain if it wasn't already falsified by the observation that FAANG (& similar) pay much more than a 30% premium over the "median" tech job not just in the US, but in pretty much every market where they compete. An instructive example would be India: TC for senior engineers at Google, Amazon, Uber, etc is already north of $150k there. Note that this is _already hi…

> An instructive example would be India: TC for senior engineers at Google, Amazon, Uber, etc is already north of $150k there. Note that this is _already higher_ than the median tech salary _in the US_. Meanwhile there are still places in India paying new grads $10k. Keep in mind these companies are really trying to get the 1% of developers in that market. Anything below the 95th percentile is unemployable. [0] [1] […

I would be wary of the 95% figure. Another user on HN (who currently works at FAANG) pointed out that he took the test used in that survey and failed. The interface for the coding test was not reflective of how actual software development is done (ie no syntax highlighting, memorization, etc). Even accounting for the diploma mills and the private universities with underresourced CS departments, the 95% figure seems unusually high.

Re: Wall Street grudgingly allows remote work as bankers dig in

#160

Post by comp_throw7 »

908B64B197 wrote: post #149
comp_throw7 wrote: post #143

Earlier quoted context omitted.

I think this would be an interesting hypothesis to entertain if it wasn't already falsified by the observation that FAANG (& similar) pay much more than a 30% premium over the "median" tech job not just in the US, but in pretty much every market where they compete. An instructive example would be India: TC for senior engineers at Google, Amazon, Uber, etc is already north of $150k there. Note that this is _already hi…

> An instructive example would be India: TC for senior engineers at Google, Amazon, Uber, etc is already north of $150k there. Note that this is _already higher_ than the median tech salary _in the US_. Meanwhile there are still places in India paying new grads $10k. Keep in mind these companies are really trying to get the 1% of developers in that market. Anything below the 95th percentile is unemployable. [0] [1] […

Even if we assume for the sake of argument that that's true, I think that only enhances my point: there aren't enough engineers that these companies are willing to employ such that they would tip the scale on the supply/demand balance sheet and push compensation down (in real terms; obviously every additional marginal engineer pushes down compensation in counterfactual terms).
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