High performing people, great pay, and fantastic work flexibility. Awful performance management.
Pros
- The people are top caliber: high performers who are all smart and accomplished - Pay is typically very high for banking, comparable to big tech - Work flexibility is incredible: time off is not tracked, hybrid offices, and no external pressure to work > 8 hours
Cons
First place I've worked where people cared more about their personal achievements than the success of the team / business. Performance management process is messy: - Stack ranking - Comparisons regardless of job families (SWEs were compared against POs and PgMs) - No time in role factor; if you join the team mid review cycle your accomplishments are compared against those in role longer with no grace period to acclimate. New employees were essentially guaranteed low rating in first review cycle. While the above encouraged consistent high performances, it resulted in an I > team mindset. Employees would consistently de-prioritize any collaboration that didn't directly improve their individual performance rating, occasionally even sabotage coworkers to get an advantage in the stack ranking.