Anonymous
Post 04/11/2024 10:47     Subject: NYC is 80 percent back in office!
WFH is starting to slim down in the DC area. We recently hired 5 folks whom were let go from their WFH jobs. They are now going to be in the office 5 days a week.

IF WFH opportunities were in abundance, I guarantee you they wouldn't have taken an offer with our company.
Anonymous
Post 04/11/2024 10:40     Subject: NYC is 80 percent back in office!
Anonymous wrote:To play Devils Advocate any Fed or State worker more than 10 years in looking to get a pension and medical in retirement what leverage do they have?

If they said back to work 5 days a week and quit the govt saves on the pension and medical, spot stays open a little while and fill it with someone you get and cheaper.

I mean what is employee leverage? How is it different from GS or JPM saying back to office or quit and get a remote job with a 100k-200k pay-cut. Then GS and JPM replaces you a younger cheaper person.

I understand low paid places no pension not being able to do it.

I was briefly working UK company on project in 2022 that had a pension and lots of “old timers” they just in mid 2023 went back to work 5 days a week or quit. The older workers has no leverage. The few that quit lost part of pension and replaced with cheaper workers


These are good points.
Anonymous
Post 04/11/2024 10:26     Subject: NYC is 80 percent back in office!
To play Devils Advocate any Fed or State worker more than 10 years in looking to get a pension and medical in retirement what leverage do they have?

If they said back to work 5 days a week and quit the govt saves on the pension and medical, spot stays open a little while and fill it with someone you get and cheaper.

I mean what is employee leverage? How is it different from GS or JPM saying back to office or quit and get a remote job with a 100k-200k pay-cut. Then GS and JPM replaces you a younger cheaper person.

I understand low paid places no pension not being able to do it.

I was briefly working UK company on project in 2022 that had a pension and lots of “old timers” they just in mid 2023 went back to work 5 days a week or quit. The older workers has no leverage. The few that quit lost part of pension and replaced with cheaper workers
Anonymous
Post 04/11/2024 10:10     Subject: Re:NYC is 80 percent back in office!
Anonymous wrote:
Anonymous wrote:NYC employees (banks, etc) make way more money than DC employees (government, nonprofit). They can afford going back.


This. If I made that kind of money, I would go in every day and outsource everything else.


Outsource what exactly? When I lived in Manhattan my dentist, Doctor, optician all by work and I go at lunch time. I lived in a coop that pretty much took care of everything. Supermarket and dry cleaner across street. Garbage shoot end of hallway and laundry room I did my laundry loads at same time with 2 washers going same time.

I ate breakfast and lunch at work so not much shopping.

I owned no car. No property to care for. All my doctors and stores walking distance work or home.

My office broke down into single or dual income people who lived near work in Manhattan, queens, Brooklyn, Jersey city or married men in further out Suburbs with stay at home wives.

No dual income couple were commuting from far away every day to Manhattan it was just not practical
Anonymous
Post 04/11/2024 09:45     Subject: Re:NYC is 80 percent back in office!
Anonymous wrote:Why do you care where other people work?


OP is probably in commercial real estate. Of course they care.
Anonymous
Post 04/11/2024 09:34     Subject: Re:NYC is 80 percent back in office!
Most traders are in NJ due to server location and network speed.
Anonymous
Post 04/11/2024 09:32     Subject: NYC is 80 percent back in office!
Anonymous wrote:New York City’s Return-to-Office Rate Nears 80%, Driven by Banks

https://super.news/en/articles/2024/04/10/wall-street-firms-propel-nycs-office-return-rate-amid-market-challenges

Come on DC let’s pump it up!

How are you concerned?
Anonymous
Post 04/11/2024 09:29     Subject: NYC is 80 percent back in office!
Agreed. NYC pays far more. DC has gone wild in terms of costs in the past decade, but salaries are not the same. Everyone has kind of made it work with WFH. Not to mention the severe crime issues in DC.
Anonymous
Post 04/11/2024 09:19     Subject: NYC is 80 percent back in office!
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:I don't think that's accurate. Badge system data shows NY at 50% RTO.


That is New York City data. Big employees Chase, Goldman all are fully back. The service workers, cops, subway, garbage men are of course in person as well as Broadway. Restaurants, bars.

I was on a business trip NYC back on October 2022 and it was more crowded than DC was in October 2022. I also went there October 2021 and we went to the roof top bar at a hotel happy hour and I was surprised amount of people out. The offices loopp were empty in 2021 but people were going out. DC was empty on 2021


I'm talking about badge data for NYC. Who cares what you think or what you observed? The data is all that matters.


So every single employer in NYC requires electronic badge swiping and is sending that data to some central authority to compile? Sure.


DP. It’s a representative sample. You don’t need every single employer to participate to be able to accurately describe the trend.
Anonymous
Post 04/11/2024 09:18     Subject: Re:NYC is 80 percent back in office!
Anonymous wrote:NYC employees (banks, etc) make way more money than DC employees (government, nonprofit). They can afford going back.


This. If I made that kind of money, I would go in every day and outsource everything else.
Anonymous
Post 04/11/2024 09:18     Subject: Re:NYC is 80 percent back in office!
Anonymous wrote:NYC employees (banks, etc) make way more money than DC employees (government, nonprofit). They can afford going back.


This. If my non-profit/NGO bosses require most day in the office, we’re all going to laugh in their faces. Remote work or at least hybrid is such an easy way to attract/retain talent when you’re not paying sh*t, so I will be really surprised if DC ever returns to pre-Covid normal.
Anonymous
Post 04/11/2024 09:14     Subject: NYC is 80 percent back in office!
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:I don't think that's accurate. Badge system data shows NY at 50% RTO.


That is New York City data. Big employees Chase, Goldman all are fully back. The service workers, cops, subway, garbage men are of course in person as well as Broadway. Restaurants, bars.

I was on a business trip NYC back on October 2022 and it was more crowded than DC was in October 2022. I also went there October 2021 and we went to the roof top bar at a hotel happy hour and I was surprised amount of people out. The offices were empty in 2021 but people were going out. DC was empty on 2021


I'm talking about badge data for NYC. Who cares what you think or what you observed? The data is all that matters.


So every single employer in NYC requires electronic badge swiping and is sending that data to some central authority to compile? Sure.
Anonymous
Post 04/11/2024 09:10     Subject: NYC is 80 percent back in office!
Can confirm. WFH over at my friend’s Biglaw firm in NYC. Except of course the WFH they are required to do on the weekends and at night! I find it very ironic that the “greedy” employers require employees to work from home but also in the office.
Anonymous
Post 04/11/2024 09:06     Subject: NYC is 80 percent back in office!
Anonymous wrote:
Anonymous wrote:I don't think that's accurate. Badge system data shows NY at 50% RTO.


That is New York City data. Big employees Chase, Goldman all are fully back. The service workers, cops, subway, garbage men are of course in person as well as Broadway. Restaurants, bars.

I was on a business trip NYC back on October 2022 and it was more crowded than DC was in October 2022. I also went there October 2021 and we went to the roof top bar at a hotel happy hour and I was surprised amount of people out. The offices were empty in 2021 but people were going out. DC was empty on 2021


I'm talking about badge data for NYC. Who cares what you think or what you observed? The data is all that matters.
Anonymous
Post 04/11/2024 05:14     Subject: NYC is 80 percent back in office!
Working in DC sucks. I like going to the office and not worrying whether or not my car will be up on blocks when I go to leave.