It seems to me that leadership used to be much more concerned about what the competition was doing. I remember a long time ago when my colleague wanted to leave BofA did everything to keep him. It was important to keep the best employees here.
Now, however, employees talk more than ever about the advantages offered to them by competitors, go to the competition, and BofA does not react at all.
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There are proactive retention bonuses being offered in payments up to manager discretion who to offer to. Critical roles that are needed over the next 2 years.
BoA got a gold mine with Merrill. Sadly, while they retained the WM dominance, the IB side has fallen by the wayside.
You'll not find a quarter in the past 5 years where we outperformed GS MS JPM in Advisory, ECM, DCM or Trading.
Somehow JPM manages to dominate retail but still rock institutional. BoA can't seem to do both.
@1cfu+1dulBa8n visa workers on H1B or L1 fit this category.
They gotta keep BM, CB (w tf is she still here??) Etc expensive salaries while we scrape the bottom.
Their strategy is to hire cheap labor that's imported under the disguise of "talent" and "D&I".
They can't compete with JP and GS.
the ideal worker in the future corporate america is a compliant, yes-man, who will destroy their body at command. and they will need to work for cheap.
They don’t care.