BAML Global Markets is hiring because people are leaving. Perhaps they should think whether or not that team is overstaffed. Do they really need that many of headcount?
People are leaving because they are disappointed about money. If a manager can’t make bonus pool bigger, then better have less people share it. When you have too many people in the team, it will end with nobody’s doing any work.
@1awc I think op is referring to “front office”. Everyone agree that we need to invest and improve our tech tools.
Tech was never the cost center. Front office team that didn’t generate enough revenue is the problem.
Over the year, the number of people in “front office” is exploding. Some of them produce little or zero revenue.
Indeed, there are Mangaing Directors care more about perception rather than business result. They know their team is overstaffed, and they are still hiring. Because more people you have, the more powerful you are.
I know plenty of people who can sell but have no clue on how to make stuff work or estimate projects. How about we ask the salespeople to also build, test, deliver and maintain the environments. I am sure the pool would be much bigger if they took in those responsibilities.
I expect the salespeople to say we can just hire code monkeys for €5.17 an hr who can build for us. Then, $hit blows up just like It happened at Sony (€ -1B). Then they try to cover up the problem and apply a bandage and another embarrassment days later (Millions more lost)
Estimating is an art. $hit, our scrum masters/PM have been trying to figure it out for years and they are still way off (Nothing but love :)
@hmd Some teams are important even though they are not generating revenue directly. However, I agree with you that teams have high turnovers need to reduce size so they can be more efficient.
Equities have too many front office people who do not generate revenue directly. Bonuses pool of salespeople will be larger if management minimize head counts of these teams.
I like my pool small.
Including people who reply back like above?
Or they can get rid of people who like to post here. That's another way to increase the pool.