Bankers Discover They Like Working From Home

Forced to work from home because of the global coronavirus pandemic, banking professionals are warming to the practice and discovering they can be even more productive at home than in the office.

That’s a dramatic reversal from what they were thinking shortly after they first began working remotely.

In April, when Deutsche Bank first surveyed financial professionals, 47% said once the pandemic subsided they would work from home only when they had to. In the latest survey, conducted two weeks ago, only 31% expressed that attitude. Now, 63% said they plan on working from home at least one or two days a week.

In the April survey, 36% said they intend to work from home once or twice a week. Another 11% said they intended to work remotely three or more days a week.

What’s behind the change in attitude? The Deutsche Bank survey reported by eFinancialCareers, apparently didn’t probe that deeply. However, a question about productivity suggests at least part of the reason is that almost 4-in-10 respondents are getting more work done at home than they did in the office.

In April, as workers were still settling in to the new routine, 29% said they were more productive. In the May survey, 37% claimed greater productivity. Counting those who now say there’s no change in their productivity, then 69% of finance professionals say they are as productive or more so working from home.

Interestingly, the more senior the professional, the more likely they are to claim an increase in productivity. A chart in the eFinancialCareers report shows finance professionals over 45 reporting they are more productive by 10 percentage points or more compared to their younger colleagues.

Hinting that working remotely may become more the rule than the exception for Deutsche Bank employees, CEO Christian Sewing told shareholders during the firm’s annual meeting that it is a way to save money.

“If 60% of employees worldwide can work away from their offices and still deliver excellent service to our clients, then of course we have to ask ourselves: can we give our staff additional flexibility to work from home if they want to?” Sewing said in his speech to shareholders. “And if that’s the case, do we need quite so many offices in expensive urban centers?”

Photo by Yasmina H on Unsplash

What It Means to Be a Leader During a Time of Crisis
General Interest Leadership + Management Worklife

What It Means to Be a Leader During a Time of Crisis

Mid-Life Crisis? Consider a Mid-Life Career Switch
Accounting + Finance General Interest Information Technology Leadership + Management Worklife

Mid-Life Crisis? Consider a Mid-Life Career Switch

Lawyers Look to Move Firms to Keep Remote Work
Legal Support

Lawyers Look to Move Firms to Keep Remote Work

Is the Hybrid Workplace Sustainable?
Worklife

Is the Hybrid Workplace Sustainable?

Bank of America, Competitors to Raise Pay
Financial Services

Bank of America, Competitors to Raise Pay

Class of 2021 to Enter Job Market
Financial Services Healthcare Information Technology Marketing Technology Professional Support

Class of 2021 to Enter Job Market

Pharmacies Are Entering the Mental Health Market
Healthcare Pharma

Pharmacies Are Entering the Mental Health Market

Pandemic Challenges Create New Opportunities for Virtual Career Development
Worklife

Pandemic Challenges Create New Opportunities for Virtual Career Development

America’s New Tech Hubs
Information Technology

America’s New Tech Hubs

How to Recognize if a Manager Is Right for You
Worklife

How to Recognize if a Manager Is Right for You

Green Key Resources is Hiring!
Accounting + Finance Architecture + Engineering Creative Financial Services Healthcare Human Resources Information Technology Legal Support Marketing Technology Pharma Professional Support

Green Key Resources is Hiring!

How to Think Like a Lawyer
Legal Support

How to Think Like a Lawyer

3 Questions to Unlock Your Authentic Career
Creative Worklife

3 Questions to Unlock Your Authentic Career

Businesses Rethink “Necessary Travel”
Worklife

Businesses Rethink “Necessary Travel”

YOLO Is Sparking Riskier Career Moves
Worklife

YOLO Is Sparking Riskier Career Moves

21 Ways to Celebrate Earth Day Today & Beyond
Architecture + Engineering Worklife

21 Ways to Celebrate Earth Day Today & Beyond

Want to Feel More Connected? Try Some LOLs
Leadership + Management

Want to Feel More Connected? Try Some LOLs

In a Time of Crisis, What Makes a Good Leader?
Leadership + Management

In a Time of Crisis, What Makes a Good Leader?

The Pandemic Is Altering Data Privacy Expectations
Information Technology

The Pandemic Is Altering Data Privacy Expectations

Job Openings Hit a Two-Year High
Human Resources

Job Openings Hit a Two-Year High

Latest Blog Posts
View All Posts
What It Means to Be a Leader During a Time of Crisis

What It Means to Be a Leader During a Time of Crisis

During the early months of the pandemic, team leaders, managers, and company executives had to use cognitive reframing to build...
Read More
Mid-Life Crisis? Consider a Mid-Life Career Switch

Mid-Life Crisis? Consider a Mid-Life Career Switch

Far too often, ages and life stages are regarded as barriers to starting a new career. But the mid-life career...
Read More
Lawyers Look to Move Firms to Keep Remote Work

Lawyers Look to Move Firms to Keep Remote Work

As law firms across the country consider brining an end to remote work, some lawyers and other legal professionals are...
Read More