Is 50% turn over regular in front/middle office?

BlackRock XnMN37
Oct 17 15 Comments

cant help it. but there is an increasing turnovers in our company. is this normal?

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TOP 15 Comments
  • New oeeL53
    Maybe it’s becoming more normal, or at least it’s a trend I’ve seen a lot in the past year or 2.

    In finance there is a big push to go ‘digital’ which creates a lot more change and requires a lot more people. Good people are hard to come by and are getting poached. Companies are now paying a lot to stop good engineers from going to tech or rival companies. It’s actually a great time to change jobs for a pay increase IMO.

    The team could also be stagnating, eg they were on the up a few years ago and now things are different. Maybe the product they’re working on is not being perceived as well, wasn’t successful, or the people who built it originally are not interested in maintaining.

    There could be a few other possibilities as well, like the environment being terrible or bad culture due to tech debt, too many prod issues and firefighting constantly, backward processes.

    If people start leaving though it’s very tough to fix things and make it better. Anyone decent will also get disenfranchised and move on too. It’s definitely not normal for such a high turnover in a high functioning team though.
    Oct 17 0
  • When salaries go high layoffs come around. When moral is low, turn over is high
    Oct 17 0
  • Google gg wp
    per year? lol no, what kool-aid are you drunk on
    Oct 17 0
  • Voya / Finance
    Blind867

    Voya Finance

    PRE
    Voya Financial
    Blind867more
    The way companies manage their call centers it makes sense.

    Metrics are important but many make it all about the metrics screw anything that happens outside of work

    They care all about results and don't care about the employee
    Oct 18 0
  • Prudential -asdf-
    Depends.. It can happen if your team had good people and they didn't get paid/promoted.
    Oct 18 0
  • Goldman Sachs / Project not Lloyd
    i’ve seen 70% over 12 months.

    10% is normal
    Oct 18 3
    • New oeeL53
      At GS?
      Oct 18
    • Goldman Sachs / Project not Lloyd
      oh, no no

      at my old company
      Oct 18
    • Charles Schwab 839165
      That’s terrible.
      Oct 23
  • Kabbage / Data fxnM15
    That’s insane tbh
    Oct 17 1
    • BlackRock XnMN37
      OP
      In our team we used have 14 people and 5 left this year and then we recruited another 5.
      Oct 17
  • Wells Fargo techgeeksf
    Companies work on LIFO strategy. While the grass looks greener on the other side, when shit hits the fan the most expensive person is first to go.
    Oct 18 0
  • BNY Mellon antishock
    7% attrition is the generally accepted voluntary attrition rate management uses at most large banks use.

    Anecdotes are not data
    Oct 18 0
  • State Street Corporation YUXR67
    Damn why am I even sitting at SST for past 2.5 years.
    Oct 22 0
  • Bloomberg hXIa06
    That's too high. Traders/PMs have been okay with this rate of turnover?
    Oct 18 0

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