Banking is no longer a good place to build your career and if you are smart you will leave this place before it's too late, while you still have some hope in your future. This is a good place to get some experience, hone in your skills, connect with like minded people, get your bearings in life and update your resume. If you are ambitious and want to be in control of your life, get out and build your career in a different industry, where there is more stability and growth opportunity (as opposed to hating your current job and moving to a different department in disgust. ..over and over...). Here you will become a cog, a drone. And of course, things will only get worse from here but if you like chaos this might be the place for you. Don't take my word for it, I tend to be a hopeless optimist and ignore entropy. I'm sure there are some people here that will chime in and share their experiences but building a career here is a stretch (I don't want to get into any tangents as to what exactly will stretch, but you get the idea).
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OP: @1gvu+1bLjb6AO It certainly is here, but I am not entirely convinced that the situation in the entire banking sector is so bad when it comes to building a career.
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BofA is a prime example why a career in banking is not a good idea and is extremely risky. Let's consider what happened after the 'acquisition' of Merrill and Countrywide for example. We had to lay off a lot of people, divest entire line of businesses, get rid of toxic assets, lay more people off, pay off a lot in lawsuits and settlements with the us govt., consolidate businesses, relocate people, close facilities, change business models...etc. Tens of thousands lost their jobs, the rest left behind are constantly worried about their future, relocation, outsourcing, automation...etc. I wonder who created the events which led to that predicament? As you see, the future potentially holds other challenges and risks, besides the current viral situation:
https://qz.com/1034873/mckinsey-robots-can-do-about-30-of-the-work-at-banks-but-they-wont-necessarily-take-jobs/
So, the issue would be how fast can one up-skill and change gears to keep up with the new job descriptions in order to make a stable career in this company (and compete with the younger kids ready to take you on at a bargain price). Can you see yourself still there in 10 years? Also, that is not taking into account the next financial crisis and the obligatory fallout. You know, the fed reserve can prop this for so long, before this transitory thing runs its course and they have to hike interest rates.
Life is so constructed, that the event does not, cannot, will not, match the expectation. - Charlotte Bronte
So, plan accordingly...