JP Morgan / Goldman Sachs / Bloomberg / Wells Fargo / Bank of America / BNY / UBS / Capital one etc Any reason why Tech in all above banks is loaded mostly with below two categories 1) Consultants from Indian companies like Cognizant or Mphasis or Infosys or TCS etc. (cheap labor with half price stuck on h1b for decades?) 2) Old married people with kids who are stuck in same group for 20 years. Most old people around me in 50s and 60s are still Associates. (Relax and waiting to retire) Is that a big reason why these companies are so behind in Tech innovations compared to Stripe or Square. We don’t see same pattern in Tech which is loaded with young kids. Young kids are more smarter and hungry for innovation.. #jpmorganchase #goldmansachs #bloomberg #citi #wellsfargo #bnymellon #bankofamerica #ubs
How long have you been in jpmc? People stay there because of visa, greencard processing and stability. (No mass hiring and mass layoff). Younger crowds who used to work there moved to tech companies unless they are in the front office positions.
Cause it’s cheap? All jobs will be outsourced
I think people have been saying that since early 2000s. If it was feasible, cheaper while keeping quality all companies would’ve outsourced already.
The 30 or so from India in our extended team seem to produce noticeably worse quality work on average.
Banks have regulatory guardrails imposed by the government, so they can’t go behind implementing the coolest tech. For this reason youngsters find the work boring and less innovative. People with family and visa prefer stability even if the pay is low. They simply don’t have the time and energy to chase after latest tech and find themselves jobless after a few months. For such people, bank tech jobs are a safe haven. To each their own.
You sound like old guy relaxing and looking to retire . Check black rock or citadel or two sigma or Jane street or Hudson trading before making this comment. Also think why Apple Pay or. Square machines are used by business owners. Look at regional banks with 0 innovations are bankrupted
Nope, he's absolutely right. You can't compare the big Wall Street guys, with all of their red tape and bureaucracy, to the leaner boutiques.
Culture at Bloomberg is slightly different from banks but agree with crowd part. It’s a mixed bag but some consultants are ruining it with their low efficiency and inducing toxic culture
What toxic culture do they bring? Not being responsive to requests?
Nah, they bring ton of experience from service companies where job insecurity and playing politics is common.
Indian folks have gone through more rigor in their education and they are much more competent and able to deliver. While the western kids were busy chasing girls, Indian kids were burning midnight oil. Also the immense competition Indians go through to even get into college makes them resilient that’s why you see Indian folks in all tech and top jobs :)
Idk it seems there’s a few superstars but on average in my area they seems to output lower quality work on average, more handholding etc
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