As has been mentioned time and time again, if you can’t pay adequate comps the easiest and cheapest thing you can do is let your people work from home. Its a win all the way around.
Employees get to save money on travel, lunch, auto wear and tear, gas, dry cleaning, day care etc….
Citi gets to use it as a talent retention tool, as well as a drawing talent tool for new employees.
It cost Citi nothing allow this and is an overall motivator. This is a very smart realization by Jane. Well done.
Wait, what?!?! Who are these people? I can see posting the rumors and the venting but some of these posts border on obsessive compulsive attention mongering that make no sense. Some seem to be a copy and paste job over and over. The energy it takes to do such a a thing could be better spent on other things like looking for a job or improving their own personal life. Reading, watching a movie, going to the gym etc… Just a thought for those who live here on this board.
Post ID: @17q+1jkqtkrnz
Exactly. $hitibank can only attract, Svcker in Rejects from GS, JP, BofA etc. who couldn't h@ck it there and got thrown out, either through a Layoff or Fired ! LMFAO!
Yes, please throw the Junk, Dross over to CitiTitanic !
Any of the heavy hitters from JPM who may be jumping ship soon and\or being let go may give Citi a shot.
Yes @10m+1jkqtkrnz, I agree those are some of the problems that make Citi the "more chaotic place to work" that I was referring to.
@yz+1jkqtkrnz
“Making things better”….HERE…at Citi….is obstructed often by management themselves, processes and the regulations that we are under. Since the housing market bust, there’s a push for “buy the cheapest tech but make it work like expensive tech” which is insane. Buy a Nissan but make it act like an expensive Porsche. I’ll not go into details on it all here at this site but some of the things I’ve seen both directly and indirectly and have seen mandated over the years would be considered reckless, foolish and an exercise of wasted time. At times a realization that certain things can’t work, aren’t supported and even if it does work at best would be unreliable but try to force it to work anyway because its cheaper. You fast forward in time, then there’s a big investigative push as to “what went wrong and who’s to blame” like its some big mystery. Those who are very smart and experienced don’t dare speak up as they get labeled as part of the problem.
That's not been my experience. I moved from JPM to Citi for better pay. And the medical plans at Citi are way better than JPM, which only offers high deductible plans with no alternative. That said, Citi is definitely a more chaotic place to work, and I can certainly understand that many people would rather work at a place where everything is already running well than a place where you're going to need to step up and help improve things. Not everyone's cup of tea for sure.
Post ID: @xa+1jkqtkrnz
That's the price of getting paid better than @ $hitibank.
JP's and GS' salaries and bonuses are higher than at $hitibank for the same exact jobs.
Benefits and 401k are also better.
Chase employees put together a petition to do hybrid Work schedule and Jamie told them to go pound sand. 🤣🤣🤣
Required three days a week. I think I can handle it, though some never come in at all.
She ruthlessly addressed the headcount issue (to be fair one created by over hiring in the first place) all while transforming the bank - shedding non core businesses investing in segments that provide a higher ROI while starving low ROI segments (hey right out of @ 4 corner McKinsey chart) eliminating layers etc.
All of which generated major blown back.
She’s made the tough decisions.
What makes Jane fearless ??
Jeez you guys have real reading comprehension issues. Nowhere did our fearless leader Jane suggest she was committed to a remote model. Rather, she committed to maintaining the hybrid model in place.
Last poster is a real Bozo. He’s not a cit employee so he doesn’t know that most places are capacity constrained so 3 days in office is not an option let alone 5. I basically just go in to show my face usually leave around 3 and finish up at home as do most.
Let's see if Citi reneges on this in 6 months just like the other companies did.
I'm cautiously optimistic. But of course I do Not trust what Citi says.
They've lied about other Sh!t before and Citi is a serial LIAR. I'm taking this w/ a grain of salt.
Just like Other posters, I'm still expected to go into the office 3 days per week. So I don't know where the OP is getting his info from.
5d ago by Anonymous
Post ID: @av+1jk9f0xfz
Other companies were mandating 5 days per week in office.
3 days a week is not so bad in comparison.
I myself would happily pick full time work from home at 5-10K less of my yearly salary.
Please point me to where that decision was made and it’s mentioned. I’m still required to go into the office 3 times a week.
We need to go in. The lack of collaboration is why chase is number 1 as they are in the office. We commuted before the pandemoc and lets face it we could have always worked from hone but thats not our culture
I agree, but perhaps a better option would be to allow people to choose - some people will prefer the money and five days a week from the office. Otherwise very good decision on Jane's side - let's see how long it will last.