What is the point of keeping SVP+ ICs in high cost locations while full teams are being laid off ?
What is their exact contribution?
15 replies (most recent on top)
@dd cheers! Just FYI the 3 Martini lunch is back (well maybe 2). Did the same last week.
@dd+1kwhvt5rk Nice scammer :) Hope you and all similar to you will go home soon <3
Titles matter when you are a client-facing banker. I got my stripes because I am one of the few peeps in the biz that is capable of speaking to clients. They want to meet a Director not some AVP or Manager. Silly eh? That is also how the client got his title and job too. Works well for us both and the pay ain't half bad. Now go pretend to use AI for something useful, I have a lunch at noon mid-town to talk yield-curve nonsense, might even come back after. Not.
All in india
@b9+1kwhvt5rk Not to india but in my opinion some random SVP ICs who just fake numbers on reports and are personal assistants to Ds and MDs are just purely wasting company money. Same goes for clueless Ds and MDs who just take random fake reports from those SVPs and only contribute by “doing politics” while having a zero idea about the job or leadership… just desperately trying to save their own skin. Really hope it all comes crumbling down…
If we follow your line of thought all the high cost locations positions should be moved to India or Singapore.
@ac yes I mind sharing! I’m in this for myself.
Great question, as a NY C15 in my case the work I used to do is done by others now. The few remaining clients I'v known for years have mostly retired or left. Nobody seems to catch on as they keep me to answer dum questions and cut y'all. Really terrible, I know. I'm not leaving without my check. The Citi way.
@ab+1kwhvt5rk would you mind sharing?
My contributions are legion and I don’t need any dead weight direct reports slowing me down or asking me to help develop them.
Thanks for your attention to this matter!
@a5 amen
@a1 clueless directors and managing directors should also leave
London is full of ICs that could be based in lower cost locations. Especially when they have parts of their team in Belfast and Poland. It is something us low cost employees think everyday... what is the difference between the work I do and the work my colleague does in London. Absolutely nothing. I have the same stakeholders!
Oh wait, it is because the MDs and Ds need people to see how busy they are. 😂
They are the next round
We do the actual work and managing the team while c15 and 16s do f*ck all and are clueless