Wall Street grudgingly allows remote work as bankers dig in
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Re: Wall Street grudgingly allows remote work as bankers dig in
#2>She often woke up at 4:30 a.m. to drive from her home in New Jersey, catch a bus into Manhattan, hop on the subway, squeeze in a workout and get to Jefferies’ trading floor by 7:30 a.m. Work dinners ran late into the night, and redeye flights to London were common.
>For Ms. Batchelor, Jefferies’s new policy means coming in to the office three days a week. Although she plans to travel to meetings when necessary, Ms. Batchelor said she was grateful to spend more time with her children and cut back on her long commute. “I didn’t know what I was missing,” she said.
Sometimes I wonder if journalists compete to get the most eye rolling quotes. As if anyone would believe this woman with 3 children was not fully aware of the tradeoffs they were making in exchange for the higher pay.
Re: Wall Street grudgingly allows remote work as bankers dig in
#3>She often woke up at 4:30 a.m. to drive from her home in New Jersey, catch a bus into Manhattan, hop on the subway, squeeze in a workout and get to Jefferies’ trading floor by 7:30 a.m. Work dinners ran late into the night, and redeye flights to London were common. >For Ms. Batchelor, Jefferies’s new policy means coming in to the office three days a week. Although she plans to travel to meetings when necessary, Ms.…
Exactly, click bait nonsense. The thing is that before companies could claim "work won't get done if you aren't in the office". Now that that has been proven false, the are grudgingly trying to keep their employees. Remote work is the new carrot just like healthcare was in WWII.
Re: Wall Street grudgingly allows remote work as bankers dig in
#4>She often woke up at 4:30 a.m. to drive from her home in New Jersey, catch a bus into Manhattan, hop on the subway, squeeze in a workout and get to Jefferies’ trading floor by 7:30 a.m. Work dinners ran late into the night, and redeye flights to London were common. >For Ms. Batchelor, Jefferies’s new policy means coming in to the office three days a week. Although she plans to travel to meetings when necessary, Ms.…
Intentional selection bias and cherry picking is a real problem in media and other domains. Waiting to hear all the pieces you want to hear and then weaving them together to create the story you want in others' voices. It makes things seem more legitimate than they are because it is a set of real data, it just happens to be a heavily manipulated and carefully chosen set.
It sounds innocent at first because you're not creating false data directly, but you are falsifying the representation of the data which is just as bad if not worse.
Re: Wall Street grudgingly allows remote work as bankers dig in
#5Like all industries that can move to remote, I suspect we will soon see a split. Some companies will embrace it, some won't. And that's not to detract from either side of that choice. It's just a choice that has to be made.
What's going to be more interesting is what this does to the market rate for labor compensation between these two pools. Simply put: if you want me to be in the city from 9-6 every day, while your competitor says I can live anywhere and remote in, you'd better be paying me extra to cover my increased rent (in the city) or increased time (commuting). Or put another way, your competitors can compensate me less and I'll consider it a better deal.
If the advantage of face to face is actually significant, then we'll see the remote firms slowly die off. If it's not, then they're going to be here permanently. Or they might just take over.
Re: Wall Street grudgingly allows remote work as bankers dig in
#6>She often woke up at 4:30 a.m. to drive from her home in New Jersey, catch a bus into Manhattan, hop on the subway, squeeze in a workout and get to Jefferies’ trading floor by 7:30 a.m. Work dinners ran late into the night, and redeye flights to London were common. >For Ms. Batchelor, Jefferies’s new policy means coming in to the office three days a week. Although she plans to travel to meetings when necessary, Ms.…
As if anyone would believe this person was not fully aware of the tradeoffs they were making in exchange for the higher pay.
In my experience working with highly motivated, highly paid people they often aren't particularly self-aware or introspective. In their mind it's not a tradeoff; they usually believe that every job in their industry is like theirs. I suspect this is due to the fact that they've worked long hours and said "Yes" to every request from the beginning of their careers. They genuinely don't understand that things could be different.
This is why so many businesses are struggling with remote working. They honestly don't get that people can work differently.
Re: Wall Street grudgingly allows remote work as bankers dig in
#7>She often woke up at 4:30 a.m. to drive from her home in New Jersey, catch a bus into Manhattan, hop on the subway, squeeze in a workout and get to Jefferies’ trading floor by 7:30 a.m. Work dinners ran late into the night, and redeye flights to London were common. >For Ms. Batchelor, Jefferies’s new policy means coming in to the office three days a week. Although she plans to travel to meetings when necessary, Ms.…
Not that I disagree with the point on journalists behavior, I think while people are to a degree aware of the tradeoffs they are making initially, over time they normalize everything and get basically Stockholm syndromed and peer pressured into their situation.
Early in my career I met a manager type guy in his late 30s that prided himself of only having taken a week of vacation in 4 years and was fully convinced that those kind of things are a pre-requisite of success for everyone. He got a lot more relaxed about life a couple years later after divorce and bankruptcy, having to start many things from scratch.
So I do buy that people can have a revelation about changing lifestyle, even if initially it was a conscious decision to prioritize career over family.
Re: Wall Street grudgingly allows remote work as bankers dig in
#8>She often woke up at 4:30 a.m. to drive from her home in New Jersey, catch a bus into Manhattan, hop on the subway, squeeze in a workout and get to Jefferies’ trading floor by 7:30 a.m. Work dinners ran late into the night, and redeye flights to London were common. >For Ms. Batchelor, Jefferies’s new policy means coming in to the office three days a week. Although she plans to travel to meetings when necessary, Ms.…
As if anyone would believe this person was not fully aware of the tradeoffs they were making in exchange for the higher pay. In my experience working with highly motivated, highly paid people they often aren't particularly self-aware or introspective. In their mind it's not a tradeoff; they usually believe that every job in their industry is like theirs. I suspect this is due to the fact that they've worked long hour…
>they usually believe that every job in their industry is like theirs.
It was, for the woman in the article. But no one forces them to be in that industry, other than their desire to earn high wages.
Re: Wall Street grudgingly allows remote work as bankers dig in
#9Like all industries that can move to remote, I suspect we will soon see a split. Some companies will embrace it, some won't. And that's not to detract from either side of that choice. It's just a choice that has to be made. What's going to be more interesting is what this does to the market rate for labor compensation between these two pools. Simply put: if you want me to be in the city from 9-6 every day, while your…
It will be interesting to see whether companies can make a hybrid model work reliably. I tend to think that combining remote with on-site leads to worse results, because it’s easy to leave the remote people out of the loop.
Re: Wall Street grudgingly allows remote work as bankers dig in
#10Earlier quoted context omitted.
As if anyone would believe this person was not fully aware of the tradeoffs they were making in exchange for the higher pay. In my experience working with highly motivated, highly paid people they often aren't particularly self-aware or introspective. In their mind it's not a tradeoff; they usually believe that every job in their industry is like theirs. I suspect this is due to the fact that they've worked long hour…
>they usually believe that every job in their industry is like theirs. It was, for the woman in the article. But no one forces them to be in that industry, other than their desire to earn high wages.
And no one forced her to take a break and take conscious perspective of how we live our lives.
This is a common experience: we all take things for granted or assume that things have to be done a certain way, simply because that's the way we've been doing it for so long.