Bankers Are Begging Their Employers For Transfers From New York To Florida

[Trompe le Monde 1,107]

The center of international finance isn't going to magically move to Florida overnight - yes, employees have more leverage to ask for such things during Covid, but anyone who is anyone in the world of banking and finance is going to need to be near Wall Street if they want to remain relevant. Maybe they move down to FL when they are burnt out and just want to be a mortgage broker because it's less stressful.

 

They have been trying to move the center of APAC finance from Hong Kong to Singapore for 25 years after the handover - it still hasn't happened even with the recent crackdowns

[Crtcl Rice Theory 2,432]

On 7/13/2021 at 2:10 PM, laylalex said:

Yes, that's true. Not everywhere, but a number of managers are requiring or warning of adjustments. The rationale is why should I pay you NYC money when you're living in Skokie?

I have a friend at Google that is being told that moving from SF to San Jose will cut their salary. It only matters because Google is not onboard with the work from home movement.

[Dashinka 24,110]

17 minutes ago, Crtcl Rice Theory said:

I have a friend at Google that is being told that moving from SF to San Jose will cut their salary. It only matters because Google is not onboard with the work from home movement.

If being a WFH nomad is acceptable to a company, then adjustments are certainly warranted based on CoL in wherever the person chooses to reside.  We are starting to see company wide messages regarding the need to properly report working locations for tax purposes which also makes sense.  I also know of people on both sides, those that want to be a work nomad and others that want to come back to the office.  This is the same as the topic of this thread, there are a lot of people that love living and working in big cities, and others that prefer to not be in a big city and are only there for the paycheck.  There is no one size fits all approach, going forward there will need to be a realignment of priorities, and subsequent work rules.

Edited July 14, 2021 by Dashinka

[LIBrty4all 3,749]

9 hours ago, Trompe le Monde said:

The center of international finance isn't going to magically move to Florida overnight - yes, employees have more leverage to ask for such things during Covid, but anyone who is anyone in the world of banking and finance is going to need to be near Wall Street if they want to remain relevant. Maybe they move down to FL when they are burnt out and just want to be a mortgage broker because it's less stressful.

 

They have been trying to move the center of APAC finance from Hong Kong to Singapore for 25 years after the handover - it still hasn't happened even with the recent crackdowns

I don't think anyone is saying WS is trying to move to FL.  But some of the people who work there are.  I know one person who used to work on WS, and as soon as his daughter is in college, he is leaving NJ for good.  Not sure where yet, as his wife hates humidity, so the South is likely out of the equation for them.  But he said somewhere that isn't so blue will be the main criteria.  He's tired of it.

[TBoneTX 44,672]

On 7/13/2021 at 11:53 PM, TBoneTX said:

As long as they leave their politics there

https://babylonbee.com/news/governor-abbot-bribes-pilot-to-take-texas-democrats-back-to-california

[Trompe le Monde 1,107]

8 hours ago, LIBrty4all said:

I don't think anyone is saying WS is trying to move to FL.  But some of the people who work there are.  I know one person who used to work on WS, and as soon as his daughter is in college, he is leaving NJ for good.  Not sure where yet, as his wife hates humidity, so the South is likely out of the equation for them.  But he said somewhere that isn't so blue will be the main criteria.  He's tired of it.

So what you are saying is that top executives aren't moving to FL? People who are burnt out? If someone is at the top of their game, they don't move somewhere less relevant because they don't like someone else's politics. Peter Thiel, for example, still resides in deepest blue California (though owning property in "blue" Miami) in spite of not agreeing with his neighbors because that is where the action is......most of America's GDP originates from blue states lead by California which is almost triple of Florida (#4, behind New York)  and more than 70% higher than Texas

 

People who are smart about money don't decide where to live because they need their feelings validated by their neighbor's politics, they go where the money is...

[laylalex 7,282]

6 minutes ago, Trompe le Monde said:

So what you are saying is that top executives aren't moving to FL? People who are burnt out? If someone is at the top of their game, they don't move somewhere less relevant because they don't like someone else's politics. Peter Thiel, for example, still resides in deepest blue California (though owning property in "blue" Miami) in spite of not agreeing with his neighbors because that is where the action is......most of America's GDP originates from blue states lead by California which is almost triple of Florida (#4, behind New York)  and more than 70% higher than Texas

 

People who are smart about money don't decide where to live because they need their feelings validated by their neighbor's politics, they go where the money is...

No kidding. My ex is very conservative but the money is here. Plenty of rich conservatives here, they just aren't great aren't great at winning elections. 

[Trompe le Monde 1,107]

Just now, laylalex said:

No kidding. My ex is very conservative but the money is here. Plenty of rich conservatives here, they just aren't great aren't great at winning elections. 

Conservative candidates don't win elections in California because they run terrible candidates - I had to laugh when Joe Collins ran against Auntie Maxine and everyone except for those in the 43rd district swooned. You guys in Alabama and elsewhere realize this guy was in the Green Party when he ran last, right?

 

And Caitlyn Jenner to replace Gavin Newsom? I realize recreational weed is legal now in CA but please..........

[laylalex 7,282]

1 minute ago, Trompe le Monde said:

Conservative candidates don't win elections in California because they run terrible candidates - I had to laugh when Joe Collins ran against Auntie Maxine and everyone except for those in the 43rd district swooned. You guys in Alabama and elsewhere realize this guy was in the Green Party when he ran last, right?

 

And Caitlyn Jenner to replace Gavin Newsom? I realize recreational weed is legal now in CA but please..........

Apparently Marjorie Taylor Greene attacked Caitlyn Jenner for being a trans woman, and therefore not appropriate to run as a Republican candidate. 

[Trompe le Monde 1,107]

12 minutes ago, laylalex said:

Apparently Marjorie Taylor Greene attacked Caitlyn Jenner for being a trans woman, and therefore not appropriate to run as a Republican candidate. 

well she did step up when few else would - when the recall fails I wonder what their next plan is for "owning the libs"?

 

I mean, if there isn't room for a sensible Republican in California (home of many sensible Republicans) these days where can you have them?

[Dashinka 24,110]

1 minute ago, Trompe le Monde said:

well she did step up when few else would - when the recall fails I wonder what their next plan is for "owning the libs"?

 

I mean, if there isn't room for a sensible Republican in California (home of many sensible Republicans) these days where can you have them?

“The kinds of people we need in government are precisely the kinds of people who are most reluctant to go into government -- people who understand the inherent dangers of power and feel a distaste for using it, but who may do so for a few years as a civic duty. The worst kind of people to have in government are those who see it as a golden opportunity to impose their own superior wisdom and virtue on others.”

 

Thomas Sowell.

[Trompe le Monde 1,107]

2 minutes ago, Dashinka said:

“The kinds of people we need in government are precisely the kinds of people who are most reluctant to go into government -- people who understand the inherent dangers of power and feel a distaste for using it, but who may do so for a few years as a civic duty. The worst kind of people to have in government are those who see it as a golden opportunity to impose their own superior wisdom and virtue on others.”

 

Thomas Sowell.

This includes the governments in failing red states I presume?

[laylalex 7,282]

I'm sorry, what does that have to do with stressed out bankers wanting to go on permanent vacay on South Beach?

[Dashinka 24,110]

Just now, Trompe le Monde said:

This includes the governments in failing red states I presume?

I believe it is all inclusive regardless of Party.

[Dashinka 24,110]

What does MTG have to do with stressed out bankers?