Wall Street grudgingly allows remote work as bankers dig in
Like all industries that can move to remote, I suspect we will soon see a split. Some companies will embrace it, some won&#x27;t. And that&#x27;s not to detract from either side of that choice. It&#x27;s just a choice that has to be made.<p>What&#x27;s going to be more interesting is what this does to the market rate for labor compensation between these two pools. Simply put: if you want me to be in the city from 9-6 every day, while your competitor says I can live anywhere and remote in, you&#x27;d better be paying me extra to cover my increased rent (in the city) or increased time (commuting). Or put another way, your competitors can compensate me less and I&#x27;ll consider it a better deal.<p>If the advantage of face to face is actually significant, then we&#x27;ll see the remote firms slowly die off. If it&#x27;s not, then they&#x27;re going to be here permanently. Or they might just take over.