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☆ Higher-paid employees looking for work are having a tough time, and it could be a sign of a shift in the workplace
▼ + stars: | 2024-04-30 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, we examine how tough the job market is for the well-paid employee . That's the current job trend, as higher-paid employees are having trouble finding work despite a historically strong labor market. iStock; Rebecca Zisser/BIThe so-called white-collar recession could also have a lasting impact on the job market for high earners. AdvertisementIt speaks to the broader theme of efficiency Big Tech companies have touted for the better part of a year .

Persons: —, Alyssa Powell, Insider's Aki Ito, BI's Emily Stewart, Aki, Rebecca Zisser, Wall, There's, Christine Ji, Kenneth Tan, Alexander Spatari, Abanti Chowdhury, Christine Ji's, Raymond James, Larry Adam, Goldman Sachs, Elon Musk, Premier Li Qiang, Beijing . Wang Ye, Musk, Li Qiang, Jensen Huang, Douglas Sacha, Getty, Bob Bakish, Shari, David Kohl, Shopify, Changpeng Zhao, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, Hamptons, Big Tech, Tech, Amazon, Bank of America, Elon, Premier, AP Elon Musk's, Federal Reserve, Paramount Locations: America, Beijing ., Xinhua, China, New York, London

☆ Economists say you could be missing out on 'knowledge spillovers' if you build your career away from a big city
▼ + stars: | 2024-04-19 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +2 min

"Knowledge spillovers" are IRL meetings that can expand your network or help you learn new things. Economists define knowledge spillovers as serendipitous meetings — on the bus or in a bar, for example — that can expand your professional network or help you learn new things. It's one reason big cities have been "underappreciated" during the pandemic, says economist Enrico Moretti. AdvertisementA 2022 study on knowledge spillovers in Silicon Valley cited the work of developer AnnaLee Saxenian, stating that "frequent face-to-face interactions, and the knowledge flows that resulted, were a large part of what made Silicon Valley the dominant technology hub it is today." You can read more about the professional benefits to living in a big city right here.

Persons: —, Insider's Aki Ito, Enrico Moretti, AnnaLee Organizations: Service Locations: Silicon Valley

☆ Half of Americans would take a pay cut to work remotely — and many are willing to give up vacation days, survey finds
▼ + stars: | 2024-03-13 | by ( Juliana Kaplan | Noah Sheidlower | ) www.businessinsider.com time to read: +4 min

Many workers are willing to take pay cuts, increase working hours, or give up benefits for remote work. AdvertisementIt turns out that remote work is still valuable — at least for prospective employees. And they're willing to pay for that ability: Half of workers surveyed said they would take a pay cut for the policy. AdvertisementA majority of workers also reported being willing to move elsewhere for work if given the chance to work remotely. AdvertisementJay, an elder millennial, previously told Business Insider that he took a $35,000 pay cut so he wouldn't have to live near his office.

Persons: —, they'd, Millennials, that's, Nick Bloom, Jay, Insider's Aki Ito Organizations: Service, Stanford, WFH Research, Workers, Harvard Locations: Washington

☆ Corporate America's loyalty problem is on display in Big Tech
▼ + stars: | 2024-01-22 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, we're looking at how there's no more loyalty in corporate America between employers and their workers. Business Insider's Aki Ito, who has covered workplace trends better than anyone, dove into the deterioration of loyalty in corporate America. The best example of the deterioration of loyalty in corporate America these days is in Big Tech. AdvertisementOne year later, Big Tech's layoffs are back and could become the new normal, Business Insider's Peter Kafka writes. However, the best representation of the growing employee-employer chasm in Big Tech is at Google.

Persons: —, hustleharder, Insider's Aki Ito, they're, Insider's Peter Kafka, Kali Hays, BI's Eugene Kim, Ashley Stewart, Long, Sundar Pichai, BI's Hasan Chowdhury, Brian Moynihan, Moynihan, Laura Labovich, Asher, Emerson, Bill O'Leary, there's, Frederic J . Brown, haven't, Christian Dior, Dan DeFrancesco, Diamond Naga Siu, Hallam Bullock, Jordan Parker Erb Organizations: Service, Big, Workers, Amazon MGM Studios, Big Tech, Google, OsakaWayne, Investment, New, Bank of America's, Fed, Washington, Getty, Meta, OpenAI Mafia, Shoppers, Spotify, Couture, United Airlines, The, Business Locations: America, Big Tech, Big, Bethesda, That's, Paris, New York, San Diego, London

☆ Thanks to AI, junior employees at major firms are spending less time prepping paperwork and more time pitching clients
▼ + stars: | 2023-12-05 | by ( Haley Tenore | ) www.businessinsider.com time to read: +2 min

AI is shaking up the workplace and freeing junior employees from monotonous tasks, Bloomberg reports. Major consulting and law firms are using AI to do tasks typically given to junior workers. This saves time for junior workers, letting them take on projects and get promoted more quickly. AdvertisementAI is changing the way that junior employees at major consulting and law firms work. It usually takes junior workers at law firms and major consulting companies at least a decade to work up to the partner position, according to Bloomberg.

Persons: —, Business Insider's Aki Ito Organizations: Bloomberg, Service, KPMG, Business

☆ How a violent 1800s uprising against machines could foreshadow our future with AI
▼ + stars: | 2023-12-05 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +6 min

AdvertisementI asked Merchant for his perspective on how history informs how we should think about AI and labor. AdvertisementTake the clothworkers: skilled weavers made really high quality cloth and framework knitters made stockings that were nice and durable. Just about everyone loses except the factory owners, who profit from churning out more shoddily made stuff at a rate that the skilled workers can't compete with. AdvertisementBased on your understanding of history, what are the chances that AI helps people by lowering the gap between lower skilled and higher skilled workers? Now, as then, the vast, vast majority of the time, AI absolutely cannot replicate a good writer or worker's output.

Persons: —, Insider's Aki Ito, Brian Merchant, Merchant, Aki Ito, Aki, coders, Ian, it's Organizations: Big Tech, Service Locations: England

☆ How to talk to your secretly 'overemployed' friends
▼ + stars: | 2023-11-14 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +2 min

There's a secret world of "overemployed" people who are holding down multiple high-paying jobs. "Overemployed" workers use their own language and codenames on Reddit. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Taking on multiple jobs to make ends meet isn't new, but these are professionals, often making large salaries, who are making hay in the remote work sunshine. Facebook mom groups talk about DH (dear husband) or LO (little one, or kid); and on looksmaxxing TikTok they talk about mogging (being more handsome than someone else).

Persons: —, Insider's Aki Ito Organizations: Meta, IBM, Service, J3, RJ

☆ Insider Today: The fight for remote jobs
▼ + stars: | 2023-09-26 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

Remote workers are doing anything but work in the afternoons. Elena Noviello/Getty ImagesThere are few topics in corporate America as polarizing as remote work. AdvertisementAdvertisementLengthy, expensive office leases might also discourage companies from embracing remote work. As Aki's story points out, that type of rationale from larger companies has created an opportunity for those willing to support remote work. A company's commitment to remote work might not be forever, even if employees view it that way.

Persons: —, Taylor Swift, Travis Kelce, we've, I'm, Chelsea Jia Feng, Insider's Aki Ito, Aki, What's, Elena Noviello, Goldman Sachs, Leonardo Munoz, Rebecca Szkutak, Dominic, Madori Davis, Snyder, Mark Reinertson, Anthropic, Lindsey Nicholson, Jacob Boomsma, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, NFL, nab, TechCrunch, Thistle Technologies, Getty, Employees, Costco, Google, Netflix, Cintas Corp Locations: America, Amazon's, Sioux Falls , South Dakota, Jefferson City , Missouri, New York City, San Diego, London, New York

☆ Insider Today: Tech's biggest lie
▼ + stars: | 2023-09-18 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +9 min

In recent years, some members of Congress have lacked a basic understanding of technology, let alone something as complex as generative AI. Marc Benioff spent much of the annual Dreamforce conference sounding the alarms on how untrustworthy generative AI is right now. Marc Benioff spent much of the annual Dreamforce conference sounding the alarms on how untrustworthy generative AI is right now. It's International Equal Pay Day. The UN General Assembly created this day in 2019 with "equal pay for work of equal value" in mind.

Persons: Mark Sumersett, isn't, Simon Simard, Daron Acemoglu, Insider's Aki Ito, Acemoglu, hasn't, Aki, It's, Nat Friedman, Rebecca Zisser, Peter Brown, Marc Benioff, Salesforce, Greg Johnson, Gary Reyes, Janette Beckman, Getty, Johnny Nunez, Lynn Goldsmith, Dakarai Akil, Tupac, Akon, Sean Kingston, Gucci Mane, There's, Carly Pearce, Valter Longo, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, MIT, Renaissance Technologies, Bloomberg Beta, McAfee, Oakland Tribune Staff, Interscope Records, Academy of Country, FOX, UN, Assembly, Getty Locations: Wall, Silicon, New York City, San Diego, London, New York

☆ Companies are increasingly making counteroffers to staff who have been offered new jobs — often because they can't be bothered to find replacements — UK survey finds
▼ + stars: | 2023-08-15 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Around 40% of UK employers have given counteroffers to staff looking to job hop in the past year, a survey found. Employers are hoping to retain staff for their knowledge, and skills, and to avoid replacing them. Almost half of employers say counteroffers are effective in retaining employees for at least 12 months. Some 40% say they do this by exceeding pay offers given by other employers, while 38% said they match the offers of other employers. Half of employers are planning to use counteroffers in the next year to retain staff for their company knowledge and technical skills, the CIPD's survey found.

Persons: they've, Gallagher, Yoko Spirig, counteroffers, Insider's Aki Ito, Michelle Reisdorf, Robert Half, Ito Organizations: Employers, Service, Privacy, Workers, Chartered Institute, Personnel, Google, Ford, Spotify, JPMorgan Locations: Wall, Silicon

☆ A Wharton professor says a new $20 ChatGPT tool can code and make graphs 'in seconds'. These tasks took him weeks to master during his doctorate.
▼ + stars: | 2023-07-10 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

ChatGPT's new Code Interpreter tool was released to paying customers on 7 July. A Wharton professor said: 'Things that took me weeks to master in my Ph.D. were completed in seconds' by the tool. Even without Code Interpreter, ChatGPT already had some code-writing abilities. ChatGPT-creator OpenAI released Code Interpreter to Plus subscribers on July 7. Even without Code Interpreter, ChatGPT already had some code-writing abilities.

Persons: Wharton, ChatGPT, Ethan Mollick, Mollick, OpenAI, Insider's Aki Ito, Sarah Silverman —, Sam Altman, Peter Tennant Organizations: University of Leeds, Turing

☆ An organic baby formula company says it'll speed up your online order if you add a tip. It's the latest example of tipping gone overboard that's driving some customers crazy.
▼ + stars: | 2023-05-24 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +3 min

A baby formula company says it can will deliver orders faster to customers who tip, per the WSJ. The company told Insider that the tips all go to its warehouse workers. Baby formula company Organic Life Start is slashing fulfillment times from 24 hours to 12 hours for customers who tip when they check out, according to The Wall Street Journal. A company representative framed tipping as an opportunity for customers to acknowledge the personal touch and labor that goes into fulfilling an order in a statement to Insider. The phenomenon can be at least partly attributed to rising inflation and costs that companies are looking to pass onto customers, Insider previously reported.

☆ An outsider's take on finding success on Wall Street
▼ + stars: | 2023-05-16 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

At first glance, Kristofer Baxter doesn't seem like an ideal candidate for offering tips about succeeding on Wall Street. His outside perspective offers a unique look at what it takes to find success on the Street. Too often, people explaining how they found success on Wall Street, or anywhere, amounts to them bragging about how hard they worked. Read more on key lessons from a top engineer at Citadel about finding success. The famous VC firm is going to launch a fund of funds for backing other VCs focused on finding early-stage startups.

☆ 10 Things in Tech: The end of coding as we know it, why the 4-day workweek works, and wild Kittyhawk designs
▼ + stars: | 2023-04-29 | by ( Hallam Bullock | ) www.businessinsider.com time to read: +4 min

But all of you had something insightful to share (there was even the odd pet picture, too!) Now, this week I wanted to share some of our top stories from our Discourse team. Tech companies have rushed to embrace generative AI, recognizing its ability to turbocharge programming, Insider's Aki Ito writes. And for better or worse, this effectively marks the end of coding as we know it. A growing body of evidence suggests a shorter workweek prevents employee burnout, fosters a healthier workplace, and boosts company productivity.

☆ The layoffs are here for those who chose to 'learn to code'
▼ + stars: | 2023-04-24 | by ( Grace Mayer | ) www.businessinsider.com time to read: +3 min

But for those who chose to "learn to code," Vox reported the wave of layoffs in 2023 is challenging that notion. "If we look at 2023 layoffs, it's software engineers who have overtaken recruiters in layoffs," Ayas told Insider. This shift also signals a change in focus for company layoffs, Ayas said. Since then, Revelio's new data suggests that nearly 5% of tech company layoffs impacted recruiters — the position that saw the most layoffs after software engineers. What started as a wave of layoffs in the tech industry has now rippled to the finance and media industries as well.

☆ Mental-health apps have a dark secret — and it raises important questions about the future of online therapy
▼ + stars: | 2023-04-22 | by ( Hallam Bullock | ) www.businessinsider.com time to read: +3 min

In a video posted by Vice, Clarke addressed Clearlink's return-to-office mandate and said that many of his remote workers didn't open their laptops for a month. Online therapy fills a critical need — but it has a dark side. The data Loris used to create its "empathetic" software was generated from text conversations with people in distress, sourced from Loris' parent company, Crisis Text Line, a nonprofit suicide-prevention hotline. That is, however, according to Musk, who told Tucker Carlson that the two tech billionaires disagreed on safety and regulation. The real reason bosses are freaked out by remote work: they think it's for "sissies."

☆ Apple continues to quietly build on its fintech ambitions
▼ + stars: | 2023-04-18 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In payments, specifically, its made progress via Apple Pay, the Apple Wallet, and the Apple Card. On Monday, Apple took another step deeper into financial services, announcing the launch of a high-yield savings account (4.15%) via its Apple Card. And now, as Goldman tries to salvage what's left of its consumer dreams, Apple continues to roll on. What's not clear, though, is what type of terms Goldman gets for serving as the back-end partner partner. Click here to read more about the top eight executives shaking up payments, including a key leader at Apple Pay.

☆ An employee reportedly asked to go remote. Her CEO says he outsourced her job to India instead and saved 40% on labor costs.
▼ + stars: | 2023-04-11 | by ( Grace Mayer | ) www.businessinsider.com time to read: +3 min

CEO Johnny Taylor Jr. told WSJ he outsourced an employee's job after she requested it be remote. Hiring someone in India saved the company around 40% in labor costs, he told the Journal. Since the pandemic, some tech companies have hired remote workers overseas, sometimes amid layoffs. Some tech companies have already turned to overseas labor, including in Latin America, Europe, Africa, and the Middle East, Insider's Aki Ito reported. The year before, 17% of job postings offered remote work.

☆ Amazon, Meta, and other tech giants are cutting middle management to be more efficient. It's a risky move that could backfire.
▼ + stars: | 2023-04-08 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +6 min

Big Tech's latest cost cutting move is "flattening," or removing middle management from the org chart. This is likely to work in the short term, but removing middle management has long-term consequences. The move comes as the Big Tech companies reel from the consequences of overhiring, as the pandemic turned into an unexpected boon to their businesses. While that all sounds good, experts warn removing middle management roles have other consequences that Big Tech will have to deal with. Middle managers set the tone and cultureAdditionally, middle managers have more influence on shaping a company's culture and can affect whether or not employees feel engaged in their jobs, as Insider's Aki Ito reported.

☆ Goldman Sachs partners are pissed
▼ + stars: | 2023-02-12 | by ( Matt Turner | Dave Smith | ) www.businessinsider.com time to read: +4 min

On the agenda today:But first: Lara O'Reilly, our senior correspondent covering the advertising industry, looks ahead to the Super Bowl. Insider's Aki Ito breaks down why grandiose job titles like "senior executive vice president" are suddenly all the rage. According to a new study, early-career job titles have changed drastically in the past few years. While it's not clear how widespread this discontent is — Goldman has some 400 partners — some partners are already talking about who might replace CEO David Solomon if it comes to that. Inside the drama at Goldman SachsRead more:Tyler Le/InsiderGoogle's search engine is about to change.

☆ Offices across the US are at least half full for the first time since before the pandemic, new data shows
▼ + stars: | 2023-02-03 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +3 min

A new study found offices were over half full for the week of January 19-25. The 50.4% average occupancy rate recorded by Kastle is the highest since before the pandemic. Three years after the pandemic drove workers across America to home offices and Zoom meetings, employees are increasingly returning to in-person work settings. Unsurprisingly, the data found offices have varying rates of occupancy throughout the week, as many workers still come into offices less than five days a week. Friday was the least common day for working in offices, with an average of just 34.9%, per Kastle's findings.

☆ Gen Z still can't make up its mind about working in the office
▼ + stars: | 2023-01-30 | by ( Amanda Goh | ) www.businessinsider.com time to read: +3 min

Gen Z is divided on the question of remote work, according to a new Dell Technologies study. In a survey, 29% of respondents said remote work is important, but another 29% said they favor office-based roles. As Insider's Aki Ito wrote in June, the preference for remote work is largely split by generation, with the oldest workers expressing the strongest preference for permanent remote work and the youngest workers — Gen Z — expressing the least preference. Many companies have been changing their remote work policies as the world continues to adjust after the pandemic. Meanwhile, JPMorgan's CEO Jamie Dimon is famously against remote work, and the company has been tracking staff office attendance using employee ID swipes.

☆ The bloodletting at Goldman Sachs might not be done yet as the bank looks for more ways to cut costs
▼ + stars: | 2023-01-18 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

If you're a Goldman Sachs' employee who made it through the company's recent layoffs, be warned: There could be more to come. Anyone hoping Goldman's fourth-quarter earnings report would represent a fresh start for the bank was sorely disappointed. Today should provide some hints at to how the bank will navigate things, as Goldman is set to inform employees on their year-end bonuses. Steve Pagliuca, the PE firm's co-chairman, is retiring, The Wall Street Journal reports. Read more on how Wall Street analysts got it so wrong.

☆ One chart shows how employment has changed throughout the US economy almost 3 years after the start of the pandemic
▼ + stars: | 2023-01-14 | by ( Madison Hoff | ) www.businessinsider.com time to read: +6 min

The US labor market has been above its pre-pandemic February 2020 employment level for a while. Some sectors are still below pre-pandemic employment almost three years since the official start of the pandemic. While leisure and hospitality isn't back at its pre-pandemic employment level, it still has been experiencing large monthly job gains as workers are needed to meet demand. Air transportation was 11.7% above its February 2020 employment level in December. It continued to expand throughout the pandemic and was 30.8% above its pre-pandemic employment as of December.

You can get the latest on that and much more from our finance newsletter, 10 Things on Wall Street. It's a snappy weekday read with the biggest stories on the Street, plus the latest on hot-spot restaurants, industry parties, and so much more. On the agenda today:Up first: Senior real-estate correspondent Daniel Geiger is giving us a behind-the-scenes look at the recent turmoil at Compass. With home sales dipping amid rising interest rates, Compass has cut workers and bled cash. In June, it laid off about 450 corporate staff, and in October, it let go of about half its 1,500-person tech team.

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