How true is the requirement to move to 5 days in office starting January 2025? Or is it just a rumor? I can’t afford to commute 5 days a week from ct to ny. If it’s true, I’ll have to start looking for a new job. Looking for facts not hearsay or rumors. Did your manager share to this with you? I have not seen any internal communication.
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In our market, production in the FIELD -- yea, like meeting F2F with actual clients and prospects in THEIR offices (gasp!) -- is on fire! They are thrilled to see us. Their time is precious. Why should they have to come downtown to meet some suit in our office? How is that even client-focus or service??
Meanwhile, back at the BofA pe--s-inspired monolith.... what do I hear?
Crickets.
BAC Management: Put your fake white papers that say what you want to hear (oh yea, do your Shareholders know what you atcually paid for that so-called "research"?)
If you simply UNLEASH us, (yup, that easy) guess what? We could produce EVEN MORE.
Ponder: How much are you old-school authoritarian robots leaving on the table?
(or perhaps give us a REAL fiscally sound reason to go into an office -- not this "collaboration" cr-p, which we all know is B.S, because people call in from their Onsite Offices (just like they did from home), not collaborating,, not mentoring, not nada.
Wake the F up!
BAC Bands 0-2 Deniers: Wake up and get past your Old Economy:
https://www.sfgate.com/local/article/san-francisco-tech-startup-furniture-resold-18392947.php?utm_medium=referral&utm_source=facebook.com&utm_campaign=socialflow&fbclid=IwY2xjawErlBZleHRuA2FlbQIxMQABHROXrHgCq8SZjG-PDzqBAGseUJbaa9MwhxmcW4yHbcI5hsbLml-7gWgnzA_aem_I6rkaH5OEWb_3K0OMA96jg
This is the future, you anachronistic dinosaurs
There's not enough space for 5 days a week. Bank is leaving RE en masse to save $$$. Large Hubs will have space but if you're in a declining market, you may actually win
They will latch onto any excuse to get everyone back in the office so they can continue "managing" in their old school dinosaur ways watching and lording over the peasants from their big fat-a$$ offices.
Glad I'm almost out of here...
They want to get head count down, so yea, this is them. Didn't they get paid for the Record Profts we all brought in while WFH? (yea, that was them, too)
"Anyone work in NY at Bryant park location? Hear anything there?"
Which building? There's four of them here!
Anyway, our management - if this is all true, effective Jan 1 - would not tell us before December 31. They are that awful.
Anyone work in NY at Bryant park location? Hear anything there?
All the posts here are not stating the LOB or location, both of these matter
"Plenty of office space for all to return 5 days a week."
Not true at all. They have reduced their office space so dramatically over the last 4-5 years to the point there are issues with insufficient number of workstations with employees only coming to the office 3 days a week. If they want to move to full-time.RTO, they will need to reverse course and start acquiring additional space - which I find it difficult to believe they would want to do after years of aggressively RE costs.
RE: If you do decide to leave because of RTO, be sure to drag it out. It will take at least 90 days for termination due to non compliance. Most of the time it will take more. I speak from experience.
Please tell us more. Are you still there dragging it out? :)
If you do decide to leave because of RTO, be sure to drag it out. It will take at least 90 days for termination due to non compliance. Most of the time it will take more. I speak from experience.
Move to 5 days, I move out. And I know plenty of people here that will do the same. They want to set up their offices like grammar school cafeterias.
Plenty of office space for all to return 5 days a week. The open concept floors were planned and in process of opening before Covid and wfh. Don’t listen to the posters saying it can’t work, due to lack of space. The bank will move to 5 days
I just got the job for those wondering. I started working during the hybrid model. Never lived in NY. It’s too crowded and expensive
They no longer have the office space for everyone to RTO five days/week.
OP: take it easy, no need to get scared. Unfortunately, COVID is returning and it will be in full swing coming January, who knows will be WFH forever.
Get these fake accommodations people in the office and get them to work.
OP- Did you work in an office before the pandemic and come in 5 days a week? Did you decide to move during the pandemic to get out of NYC or wherever you were?
Well why do you think that work from home was going to be permanent? No one ever said it would. If you moved to take advantage of the remote work , then that’s on you. Now if you have to be back in the office , we’ll deal with going back to what was the norm. Sell your Ct. farm home with all the grass and get back to your million dollar shoe box condo and concrete that you originally planned for.
A friend of mine who is a tech manager (in another organization) casually hinted a couple of months ago that this will be the direction. :(
According to my manager, yes - this is true. No exceptions, no accomodations. Their words to us, be forwarned and be prepared.
I personally do not believe it, or just do not want to - but so far have not been steered wrong.
This has been my manager for over 10-years, and in their position for 25 years. That has to count for something to the nay-sayers.
The bank already has a history of blaming FINRA for unpopular and unnecessary policies.
Case in point being the mandatory 2-weeks vacation policy. The bank will tell you with a straight face the lie that it is a regulatory requirement. However, it is only FINRA's recommendation - and basically meant only for traders and definitely not meant for people in ops and support roles.
So it is already part of their MO to dishonestly blame FINRA for their nefarious policies.
That said, my guess is, if there is any truth to these rumors...it will not be universal. It will be for certain areas/teams/departments but not everyone.
FINRA is NOT requiring 5 days in office. Period. Punto, Full Stop.
https://www.linkedin.com/pulse/wall-street-vs-wfh-firms-blame-finra-rules-full-time-office-eunze/
FINRA has asked for additional attestations and supervision for remote employees.
(ok, fair enough to curtail"bad actors".)
All that is needed to comply is a "check the box" attesation annually by the employee and the manager.
That. is. it. If you're being told or hearing otherwise, then that is simply fear-mongering.
FINRA is not dictating no more WFH, companies are saying to comply they must RTO 5 days. But interesting part of the article that the need to inspect work locations could include home offices if securities business is being conducted. Interesting.
If RTO 5 days is true, attrition will increase 3/31.
I believe it is valid due to the new FINRA rules, and this Forbes article explains what is going on.
https://www.forbes.com/sites/jackkelly/2024/06/03/banks-brokerage-firms-return-to-office/
Unfortunately, there is no easy way out.
I believe it could be true, however we won’t know till they feel like telling us.