https://fortune.com/2022/01/21/bank-of-america-ceo-great-resignation-brian-moynihan/

  • Tofu_Lewis [he/him]
    ·
    3 years ago

    The "declining birth rates" line is such an obvious tell: BoA isn't hiring babies, they're exploiting financially stressed parents (because the cost of raising a child in the US is absurd).

  • Tervell [he/him]
    ·
    3 years ago

    There was a bit in Roman history when Diocletian made a bunch of professions hereditary. Looking forward to :amerikkka: bringing that back, just having all grocery store workers' children being trained from birth to inherit their checkout line.

    • ssjmarx [he/him]
      ·
      3 years ago

      Diocletian's reforms helped the Roman Empire last another 300 years in the west, and 1000 in the east.

      I really hope that's not the direction America goes.

      • Tervell [he/him]
        ·
        edit-2
        3 years ago

        To be fair, to do that he had to institute the Tetrarchy - essentially accepting that the Roman empire was far too big to be effectively governed by one guy, and splitting it. And while the Eastern Empire indeed survived for long, it lost a lot of land and had to adopt a more defensive, "let's hold onto what we've got" approach rather than seeking aggressive expansion - after Justinian, they were mostly either losing territory or barely defending what they had, with occasional exceptions like the Komnenian restoration and Basil II having them recover sizeable portions of land.

        So, going by this analogy, the US would need to split up in several states, and really cut down on overseas imperialism to focus on maintaining what they have (which would be pretty good for the rest of us). The impressive thing about Diocletian's system is that it didn't immediately lead to the Eastern half saying "yeah, fuck you guys, we're doing our own thing now" - it wasn't a Balkanization, since the new split states weren't hostile to one another. I'm not sure if that could really happen with America.

        It would be really funny to see the tradition of junior emperors being brought to the US however - just imagine failsons like Hunter and the Trump kids being deputized to rule the West Coast, it'd be great

    • Diogenes_Barrel [love/loves]
      ·
      3 years ago

      yo i was just reading about the fabricae and fabricenses as a hereditary & inescapable profession (not really, in the grand scheme of things) but the Praetorian Prefect was charged with checking all the branches of imperial service for deserters from other parts. Soldiers and craftsmen like the fabricenses were literally branded, and that's when you were lucky enough to not be a slave of the state working in dyeworks, mints, or textile factories

      anyway can't wait to be barcoded and and contract over my offspring to the end of time in service of the McDonald Corp.

      • Tervell [he/him]
        ·
        3 years ago

        It was only introduced after a prolonged period of crisis and civil war, but yeah, pretty fucked up. Diocletian on the whole reduced social mobility a lot as part of his efforts to stabilize the empire

  • throwaway498585 [none/use name]
    ·
    edit-2
    3 years ago

    Throwaway because I don't wanna dox myself.

    In an effort to make Bank of America more competitive as an employer, Moynihan said he raised wages. Total compensation expenses for the bank grew 10% last year

    I haven't gotten a raise since early 2021, and it was just a typically low raise, same as previous years (as in, pre pandemic). Accounting for 2021's inflation, I'm currently making less than when I started working there. I've also gotten no bonus in 2020 or 2021.

    The bank’s attrition rate actually fell 50% earlier during the pandemic, he said, but it’s since rebounded to pre-COVID levels.

    Probably because they are trying to force us back into the office. My job can and has been done 100% from home, yet in his own words "we're a work from the office company", so they want to force us back.

    I was supposed to go back recently, but I got a somewhat vague message saying to "stay home until you're asked to come back", but that was after I was asked to come back, so I'm taking it as stay home and hope they forget to ask again.

    The only reason I haven't quit is because I've already been looking for a new job and I'm not sure I can even get one.

    • trill_miller [none/use name]
      ·
      edit-2
      3 years ago

      I quit at the beginning of lockdown and it was the best thing I've done professionally. The B of A team I worked for was drastically underpaying us - I found out that other teams in a different city in my state with my same job title:

      Had 1/3 of the responsibilities

      Were paid at least 10k more

      Were a higher job band

      When I brought this up to management, they said they would do a "competitive salary analysis". This was in 2018. Straw that broke the camel's back was my direct manager telling me with a straight face "congratulations on the great raise, you really earned it!" the raise was $0.23 an hour.

  • Quimby [any, any]
    ·
    3 years ago

    oh no! what will we do without... checks notes... investment bankers?

    • buh [she/her]
      ·
      3 years ago

      they're already on it https://hexbear.net/post/168663

  • emizeko [they/them]
    ·
    3 years ago

    rates and[sic] as factors

    now that's the quality editing I expect out of a prestigious financial magazine

  • Diogenes_Barrel [love/loves]
    ·
    3 years ago

    in this edition of "blame literally everything but the fact we're murdering a fraction of the workforce and forcing another fraction inside for an indeterminate period"