“If you’re 21 to 35, you are nuts not to be in the office all the time.”. Chris O’Dea, a managing director at Morgan Stanley expressed his views at a conference call within the company.
This is an indication that the company is wary of hybrid work schedule for its employees. Goldman Sachs or JPMorgan Chase have mandated an in-person 5 day return for their employees Whereas, Morgan Stanly have not announced a mandatory 5-days work from office. However, they are urging their 70,000 employees to back to work in some capacity.
Message from the Top
Chris feels that it is high time for the young employees to soak up knowledge and skills from experienced bankers. This may not happen while working on a zoom call in their PJ’s. Earlier this year, Morgan Stanley CEO James Gorman said that it will be disappointing if employees of all ages are not back to their desk by Labor Day. He further reiterated that those who did not return could face a pay cut. He further added that “If you want to get paid New York rates, you work in New York. None of this ‘I’m in Colorado and work in New York and am getting paid like I’m sitting in New York City.”
More Learning While Working for Office
“Make no mistake about it,” Gorman said earlier this year. “We do our work inside Morgan Stanley offices, and that’s where we teach, that’s where our interns learn, that’s how we develop people … If you can go into a restaurant in New York City, you can come into the office.”
Many are wondering why Morgan Stanley are making in-office work mandatory if they feel so strongly about it? But, U.S. is going through the phase of “Great Resignation” and employees tend to have greater leverage. They risk losing their top talent if they abolish the option of working from home.
Work from Home Strategy
Gorman told in an interview in 2020 that the firm will need lesser real estate in future. There is a likelihood that the firm will maximize space for those who they absolutely want to be in the office. while older, established managers float in and out as they see fit.
Browse for job opportunities in Morgan Stanley
Keep up with the latest employment news across US at News