.
Bad ones are overpaid.
Good ones are underpaid… they can be poached or decide to startup.
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You’re fired.
Only raised issues and provide no solution.
I know who you are referring to 
Wow! Hand waver 
Good term.
Well, there is only one person in a company that should do this. Founder CEO. If he is busy, he is not working correctly.
Only 5-6 people reporting to you is an Engineering Manager? I am under under under paid in Singapore. 30 people (SWEs, hardware engineers) and being paid much less than a newly SWE grad… anyhoo, I retired and followed my wife to US the A and became fruitfully unemployed.
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Wow. I never thought this was possible. The culture is all about crazy hours in the office. It gets people promoted without even delivering anything. It’s up there with claiming to improve profitability, and 80% was due to Walmart being less aggressive on pricing. That resulted in less price matching, so profits were higher. So many people got promoted on that one, and it wasn’t even anything the team did.
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Exactly true and which is why I have no motivation to go back into a managerial role. I want to stay staff data scientist / tech lead etc…
Much less meetings and more time flexibility.
Even when going for a walk / working out I can thing about the problem and come up with a new idea - don’t have to be in front of the computer for that part.
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My manager who worked from East Coast had teammates in all US time zones. And then most of her calendar was filled with meeting with folks at headquarters in California ( PT). She would remain on phone from 9 am ET to 9 pm ET to cover meetings across all times zones (including with teams in China and India). I will not like to have that kind of job.
i think this is the new reality even if you are in the office or WFH. I get around it by saying I am busy during time blocks I can’t be on phone (5-8pm PST) and then also taking my lunch break to run errands, etc since I can start at 6am (9am EST)
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This is an interesting angle. Young, single people who opt for returning to office full time will have more opportunities socializing with their bosses and bosses’ bosses.
Morgan Stanley:
Not a big deal. I do not know whether California requires salary disclosure, but salary history is banned in the state. But, The higher you rise in career, the geographical difference in the salary for the same job tend to diminish. And I see positions in California are posted with a very wide salary range anyway.
no one wants to work for them anyway. Give Stripe and Silicon Valley 5 more years and even investment banks will be obsolete
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Seriously, the banks are cesspits for engineers. I worked for one a long time ago and your job can be soulless and demeaning (not so in finance where at least the $$$ can wipe away your tears for sometime).
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How? What will silicon valley do in 5 years to obsolete investment banking?
Direct listings are becoming more common. Trading is commission free now thanks to Robinhood. Wall Street is being disrupted. Their “research” by analysts is laughable.
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what @marcus said. Most companies the IPO leaves a lot of $$ On the table they don’t get. Also tons more options for secondary liquidity for equity (like Equity Zen, etc) so the companies don’t have to exit to give employees liquidity (see Stripe).
Also, IB not as lucrative as it used to be - all the smart young things (harvard, etc) are going into tech. IB has a recruiting problem. No smart young thing wants to work 100 hrs/week and risk potential suicide (still happens) if they can make more money in tech and have a longer career.
also exit options are limited.it used to be you worked in IB and then went to private equity, or a hedge funds etc. that whole world is changing due to trading rules and quant funds (don’t need a human to throw darts anymore) and now if they do something to the cap gains tax. so if you bust your butt for 2-3 years at an IB, if you aren’t lucky enough to get an exit, it was a waste and you should have just gone to tech in the first place.
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why you need research when random bubbles are created in market. so much funding pre-ipo is done that company need to be Megacap at IPO.
Computers have only automated low level work like replacing Yellow pages, Teller work in the Bank, replacing paper diaries, inventory management. how many million software developers made it happen?.
Anything related to Construction, Medical and legal field have increased in prices higher than inflation
This is an interesting topic. Technology does not eliminate an activity (like investment banking or code writing, or marketing), technology simply automates the repetitive parts. The key element of Invetment Banking activity is to be able to evaluate a business and give confidence to investors. Some part of Investment banking can be automated, and some cannot.
Companies wanting to raise capital still need to use that evaluation to find investors, decide underwriting conditions etc. That part is probably cannot be automated and hence will need human intelligence and creativity.
However, the IB will need to restructured to leverage technology as argued below.
Here is an interesting article.
What’s ahead?
As long as considerable barriers to market entry remain in place (capital requirements, regulatory scrutiny, conduct risk, and long-standing client relationships), investment banks are unlikely to have their market share challenged by digital disruptors or other non-industry competitors. However, investment banks looking to the future amidst shifting market dynamics should consider relinquishing expensive internal infrastructures and move toward a connected flow model where outside providers offer services for both critical and non-critical functions. In this new environment, the investment bank’s ability to create and harness differential insights from data becomes its new competitive advantage.
I found this interesting article:
Another entry in the remote work debate:
I still think hybrid is the best way forward for fast-evolving companies. But I’d be happy to see companies try out remote-first to see how well that model works. Maybe I am wrong and it indeed is as great as some people argue it is.
In a hybrid environment, more aggressive employees can have more face time with management at the expense of folks who opt to not come in at all or not as often:
But if you’re still trying to move up in an organization it’s hard to overstate how important it can be to put in some face time at the office.