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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

#241

Post by throwaway55421 »

halfmatthalfcat wrote: post #234
throwaway55421 wrote: post #158

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 yea…

That’s great for you and I hope you find that but there’s an entire class of us who are sick of 1+ hour commutes, inane “water cooler” conversation that goes nowhere and just want to do work. Work for me is not an extension of my social life, it is how I provide for my family and support my social life outside of work. We’ve waited for ages for WFH to be normalized and I hope that this trend continues.

So you're poor and live miles away from everything.

I don't see why we should optimize life around this but meh. You do you, I guess.

I already quit so w/e.

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

#242

Post by wyclif »

disgruntledphd2 wrote: post #224
erik_seaberg wrote: post #64

Earlier quoted context omitted.

Most of tech either isn’t remote or hasn’t been for very long, so strong candidates with large scale prod experience are still concentrated in markets where these skills are most valued and attainable. If you want those candidates, you have to compete with offers from local big tech.

> strong candidates with large scale prod experience are still concentrated in markets As I keep asking when this comes up, if this is true then why are salaries for FAANG engineers so much lower in London? London, as you may know is 100% not cheap, and yet salaries there for FAANG tech people are approximately 50% of those in SF/US.

Because in the UK (where all of my ancestors are from) they don't value software engineers like they do in the US.

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

#243

Post by erik_seaberg »

wyclif wrote: post #242
disgruntledphd2 wrote: post #224

Earlier quoted context omitted.

> strong candidates with large scale prod experience are still concentrated in markets As I keep asking when this comes up, if this is true then why are salaries for FAANG engineers so much lower in London? London, as you may know is 100% not cheap, and yet salaries there for FAANG tech people are approximately 50% of those in SF/US.

Because in the UK (where all of my ancestors are from) they don't value software engineers like they do in the US.

In the 1990s we were paid and managed like accountants. When the Web went mainstream, Bay Area VC companies created a sudden shortage which slowly spread.

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

#244

Post by wyclif »

erik_seaberg wrote: post #243
wyclif wrote: post #242

Earlier quoted context omitted.

Because in the UK (where all of my ancestors are from) they don't value software engineers like they do in the US.

In the 1990s we were paid and managed like accountants. When the Web went mainstream, Bay Area VC companies created a sudden shortage which slowly spread.

ISTM that the main cultural difference is that UK companies consider developers as cost centers, not profit centers. Therefore, the bean counters have an incentive to either eliminate us or consider us as interchangeable cogs in the system.

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

#245

Post by disgruntledphd2 »

wyclif wrote: post #244
erik_seaberg wrote: post #243

Earlier quoted context omitted.

In the 1990s we were paid and managed like accountants. When the Web went mainstream, Bay Area VC companies created a sudden shortage which slowly spread.

ISTM that the main cultural difference is that UK companies consider developers as cost centers, not profit centers. Therefore, the bean counters have an incentive to either eliminate us or consider us as interchangeable cogs in the system.

But FAANG do. So why don't they raise salaries?

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

#246

Post by CuriouslyC »

Hakashiro wrote: post #239
CuriouslyC wrote: post #232

Earlier quoted context omitted.

Indian engineers in India did tend to be worse on average than American engineers of any ethnicity when I did a lot of hiring about 10 years ago. As far as I could figure out, the main reason for this was the large number of Indian technical schools with very outdated curriculae and low standards for matriculation, along with a rote learning style. Engineers from these schools needed to have every little detail metic…

That's kinda racist. You can't possibly be saying that there's no way there exists an Indian engineer that can compete hand-in-hand with a Silicon Valley engineer on an intellectual level (connections is a different thing). So this being the case. Why does the Indian still earn less than the Silicon Valley peep?

Please tell me how saying Indian engineers trained in India are worse on average than Indian engineers trained in the United States is racist. Maybe you should also share your special definition of racism, I'm sure it'll be an entertaining read.

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

#247

Post by ID1452319 »

cm2187 wrote: post #84

The problem is that if everyone doesn’t come back in the office you just end up spending your time on zoom in an office desk which negates the whole point. Working in a large bank in europe where we observed the same, between a third and half of the staff decline to come back

The problem is that even if everyone DOES come back to the office, you still end up spending your time on Zoom (or Teams in my case) in an office desk, as you inevitably have meetings with colleagues in different offices, countries or outside companies, suppliers and vendors - which negates the whole point.

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

#248

Post by Hakashiro »

CuriouslyC wrote: post #246
Hakashiro wrote: post #239

Earlier quoted context omitted.

That's kinda racist. You can't possibly be saying that there's no way there exists an Indian engineer that can compete hand-in-hand with a Silicon Valley engineer on an intellectual level (connections is a different thing). So this being the case. Why does the Indian still earn less than the Silicon Valley peep?

Please tell me how saying Indian engineers trained in India are worse on average than Indian engineers trained in the United States is racist. Maybe you should also share your special definition of racism, I'm sure it'll be an entertaining read.

You didn't answer my question.

Let's suppose such Indian engineer who lives in India and has the exact same skills as a Google California engineer (including English fluency) exists.

Why does he earn less than the Californian one? Because his Indian colleagues are not as good as him?

On the flipside, I'm sure you'd agree there are incompetent Californians, yet they earn more than highly skilled Indians.

Tell me how exactly that isn't racist.

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

#249

Post by [deleted] »

randallsquared wrote: post #99
jxidjhdhdhdhfhf wrote: post #86

Earlier quoted context omitted.

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.

There are people who prefer to work in an office, and some who have that preference even if it puts them on a train for an hour or two a day. As long as we don't get legislation to force employers one way or another, I'd expect employees to self-select into those who like being around others all day, and those who prefer to work in a private office. It's a serendipitous solution we've been presented to all those open…

[deleted]

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

#250

Post by jxidjhdhdhdhfhf »

airstrike wrote: post #151
jxidjhdhdhdhfhf wrote: post #86

Earlier quoted context omitted.

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.

Your wage should also be related to how much work you have to put in. I would expect more money if I was going to work 10 hours a day than 8. And I consider commuting time similar to work time. So, given two otherwise equal job offers, one of which requires a 2 hour commute and one which requires no commute, for me the decision is an extremely easy one to prefer the latter. Effectively, the latter is paying me much more per hour of labor.
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