And nobody wants to lose out to a competitor who proved their mettle by making the trek when others phoned it in.
It's an intensely competitive industry where advising on a single deal, or helping to take a company public, can bring in tens of millions of dollars in fees. It's not that the work can't be done from home: In fact, investment banks posted record profits during much of the pandemic, when bankers and traders were confined to their homes.īut Wall Street holds fast to tradition. Zoom calls and Slack chats don't cut it for Wall Street anymore.Īt a time when many are still working from home, Wall Street dealmakers are not only back at their offices, they are traveling a lot again, to woo clients and to negotiate mergers and sales. Wall Streeters are not only back at their offices, but they are also heading to the airports again, even as many companies continue to keep their workers at home.
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