Quants with precarious home lives are enjoying the return to office push
Quantitative finance is an area where being in the office is a greater necessity than most. The fine margins and complex details are difficult to communicate digitally, as banks, hedge funds and trading firms all know. In 2023, firms are demanding they come in even more, but that doesn't appear to be an issue.
As part of our bonus expectations survey, we asked respondents how many days they spend in-office, and their thoughts on their current ratio. Quants spent on average 3.95 days in the office, up from 3.75 the year before. 83% of them said they were happy with it.
Tech staff also saw an even greater increase of their in-office demands. They averaged 2.6 days in 2022 and 3.1 days in 2023. While they're happy with the hours in general, their approval rating of 66% is far lower than quants.
The advantages of remote working often lie in your ability to spend time with family and friends, but many of those that love working in the office appear to have troubled home lives. One Paris tech VP for a major US bank says they're "happy with my job, very unhappy with my lifestyle." One quant director in London says he's "relatively happy" with his three days in office, but that "depends significantly on my wife."
There are also some people seemingly upset that they're spending too little time in the office. One female tech VP in the US saw her days cut from three to one; she says, "I hate it and plan on leaving." In fact, 55% of quants and technologists that had their days in office cut say they're unhappy with the current situation. However, this may include those that want even less days.
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