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't. And that's not to detract from either side of that choice. It's just a choice that has to be made.<p>What'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'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'll consider it a better deal.<p>If the advantage of face to face is actually significant, then we'll see the remote firms slowly die off. If it's not, then they're going to be here permanently. Or they might just take over.