Had three recruiters reach out today about SVB first citizens risk roles, no hourly rate, which says they are probably paying under $50 an hour. You get what you pay for…these roles should go for $200 an hour or more.

That wonderful walking ER issue , Al-a has landed at MUFG to continue her bullying ways. For folks in her group it was the first bit of good news they had. Everyone knew she had to jump ship because she lost a lot in the SVB stock dump. Mark R has to... — read more 

https://sfstandard.com/business/first-citizens-bank-lays-off-500-svb-employees/

Word on the street is there are retention bonuses for 10-25k going out to some individuals. Paid out at the end of April and May.. those of us who haven’t gotten a retention bonus, does that mean we’re dunzo?

https://www.reuters.com/business/finance/svb-financial-seeks-bankruptcy-protection-2023-03-17/

"SVB, for instance, found itself with some $16 billion in unrealized losses from long-dated Treasurys it held. As yields rose, it eroded the principle value of those bonds and created liquidity issues for the bank, long a favorite of high-flying tech... — read more 

Related: https://novum.substack.com/p/what-if-worldview-zero-interest-rates "What if your entire worldview was just because of near-zero interest rates?"

March 13 (Reuters) - Silicon Valley Bank's new boss Tim Mayopoulos on Monday told clients that the lender is open and conducting business as usual, according to a letter seen by... — read more 

We had the 45 days at 1.5x, now normal pay, but for how long? Is this bridge bank still a temporary thing while we cross our fingers for a buyer, or could SVB actual recover?

https://www.highereducationinquirer.org/2020/05/lets-all-pretend-we-couldnt-see-it.html

My View Following Saved 2 minute readMarch 11, 20237:23 AM PSTLast Updated 29 min ago Silicon Valley Bank staff offered 45 days of work at 1.5 times salary By Lananh Nguyen and Pete Schroeder A locked door to a Silicon Valley Bank location on Sand... — read more 

As a JPMORGAN employee, I want to thank SVB for all the times they rejected my application. You are appreciated.

Should I even bother to show up??? I'm thinking ... no :-/

SVB imploded fairly spectacularly. It didn't make it to the close of business Friday afternoon, which is when the FDIC usually likes to shut banks down. Fair to say this will have a negative impact in SV. Lets hope the damage is contained.

https://www.cnbc.com/2023/03/10/silicon-valley-bank-collapse-how-it-happened.html

As people flee from Wells Fargo it seems like SVB is quick to scoop them up. The culture at SVB was really good but feels like it's becoming tainted by hiring so many WF people!

What happens if a recession hits really hard? Is the IT group going to be hit?

Laid off at least 10 people from GDB group and majority are engineers. Lay off happened because management spent unnecessary money and higher a lot of contractors from favorite companies. Severance was good atleast 3 months of salary and 3 weeks of... — read more