All the talented people are leaving. They employ unskilled young people who do not know what they are doing.
What will it all look like in a few years? I can't even imagine what a mess it's going to be. It will be interesting to watch from a distance though.
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The young people are not necessarily unskilled. They have college hire programs and hire a decent bunch of people in the tech side there. Tech at BOFA is 100 percent a cost center. Most of the internal projects are all over the place with negligible value. The company cares very little ensuring it has good engineering. Only need semi competent people to keep the lights on. Young people can do that.
This has been the operating model for years. As long as it functions, it's acceptable. They don't care about things being great, they just need to work at all. They're perfectly content to let the master craftsman walk if the new hire can get it done barely functionally. It's the BofA way, and has been for a long time. I'm sure people have been having that same "5 years from now..." thought for the past 15 years, easily. It stinks, but they don't care if anyone walks because someone else will move in, skilled or not.
Seniority and experience used to matter. Now if you have no experience whatsoever, you're suddenly the golden child and ripe for promotion. You might not know anything about banking, but you're a master adept at virtue signaling and have a pretty face. You're part of the popular "in" crowd. You're buddy-buddy with your manager. Even more so if you fall into one of the "special" categories as part of the clique. It is so strange. Forget about competency or experience. It doesn't matter here.
You ask: "What will it all look like in a few years?" I'm going to guess lots and lots of Indians.
This place is hiring mutherfockers that don't know their azz from a ho-e in the wall. It amazes me how this place promotes people that are clueless. The only reason I can come up with is that these mo--ns won't threaten their jobs. I have really lost a lot of respect for the leadership of this company. I expected more from our CEO but he is doing conference calls from his basement. He is the biggest coward I have ever seen.
yo good for dudes starting off and figuring it all out got chances now