Who is back in the office? (Boston, Cambridge: credit, job market, contractors)

[newenglandgal123]

Originally Posted by charolastra00

You must have already been pretty well off in terms of salary! This is life changing money for me. Salary + bonus more than double my last salary and triple where I was 5 years ago. Throw in RSUs (which take some time to vest, so not impacting me yet) and other benefits, I tripled my compensation.. and did it a month after reupping a lease. I'll move to a rental closer when my lease is up. Staying was an effort (in vain) to save enough to make my next move more permanent into homeownership. The market didn't cooperate.

In my last job/industry, I worked 60-70 hours a week, couldn't ever use my vacation time (and really couldn't afford more than visiting friends for weddings), and had pretty much accepted I wouldn't be able to buy a home until after 40 and likely wouldn't be able to afford kids. I was working from home, but working way more and perched at the end of my bed in a dark apartment 4-5 days a week because I couldn't afford rent on a 2 bedroom to justify a home office setup.

So, yeah, I'll sit in my car 3-4 hours 3 days a week as the sacrifice to be able to move on with my life after losing a decade of financial progress and (relatively) cheap housing to cancer bills. Many colleagues are making similar trade offs to afford to buy a home, have kids, or pay off student loans. At least it's rare to need to work more than 40 hours.



Not unrealistic at all. That's what salary+bonus looks like at the next level up for me. I stepped down for this role, so there's a lot of upward room.

Since buying my first place around 8-9 yrs ago, I've always remained in the property ladder and been able to sell/buy my own properties (w/out any inheritance or handouts), keep the lights on, food on the table with room for some extras. However, it really is quite insane what folks have to go thru to keep a roof over their head and try to get ahead in life. I've been able to purchase multiple properties over the course of the last decade (not all owned at the same time). However, I still haven't been able to buy what I'd consider a 'forever/dream' home. Either I've compromised with location in some way or maybe it's a house that needed renos, or whatever the case may be--this was to keep everything manageable and in check financially, never going to the max of what the banks said was affordable based on my income. My housing overhead is currently low with the most recent purchase which was back when rates were 3%, however, sadly it's still not my ideal home/location so I'll eventually be giving up my nice 3% rate. The tradeoff with not having all the boxes checked on my 'ideal home' has allowed me to remain in the property ladder affordably while also being able to stash cash so when the time is right and the next opportunity presents itself I'll sell this, hopefully make a little profit along the way and then get closer to what I'd consider more of a forever/dream home. But you're right, the market is definitely not cooperating at this time.

[bizcuit]

Originally Posted by newenglandgal123

I have been an eternal WFH even pre covid so I usually try to do my grocery shopping on a random weekday early afternoon thinking it's less busy than prime end of week or weekend days...Market Basket is usually my store of choice and it's absolutely bonkers. You'd think not many are working these days! How is it that everyone and their brother is at Market Basket at 10:39AM on a Tuesday?!

I retired this past Summer and I was thinking the same thing, that grocery shopping was going to be a breeze on the odd workday hours. Not so! I am constantly wondering if all of the people are not working, working from home, retired, or what? It's been a real letdown.

[charolastra00]

The best time to be in a grocery store has always been around 6:30-7 p.m. You miss the folks stopping by on their way home for the most part, and you also miss the stay at home crowd.

[redplum33]

Originally Posted by charolastra00

The best time to be in a grocery store has always been around 6:30-7 p.m. You miss the folks stopping by on their way home for the most part, and you also miss the stay at home crowd.

But at that time you miss out on the deli, butcher, and prepared foods.

[BostonMike7]

I usually do my Amazon Returns at Whole Foods at Market Street in Lynnfield. I stop in on my way to office after first round of meetings at home, and i'm amazed at how many folks are out doing their shopping at 9-10AM on a Tuesday.

[msRB311]

I am sometimes amazed when I happen to step out to do an errand or go to a dr's appointment during hours that you think most people are working or are at work. It's why I know that in my area most people are doing hybrid/WFH and many women are SAHMs.

[New Englander]

Originally Posted by simplexsimon

It makes sense for breadwinners, male or female, since facetime matters for job security whether we like to think it should or not.

You are highlighting a very good point. Particularly in industries with client-facing interactions, being in person is critical. I'm on a hybrid schedule, but I own my own company. The HQ is in Boston; however business in the NYC office has exploded, so I'm in NYC 2-3 days a week.

Companywide, I have not instituted a work-from-office policy and left it to the employees. In NYC, my top performers are back in the office four days a week (minimum), same with the 2 of 4 top performers here in Boston. Even though facetime with me is not important, the clients have definitely remarked that it's nice to be able to meet in person, have lunch meetings, etc.

If the unemployment level rises, many employers who want their employees back in the office will have more leverage to compel them back in.

[jayrandom]

Originally Posted by New Englander

You are highlighting a very good point. Particularly in industries with client-facing interactions, being in person is critical. I'm on a hybrid schedule, but I own my own company. The HQ is in Boston; however business in the NYC office has exploded, so I'm in NYC 2-3 days a week.

Companywide, I have not instituted a work-from-office policy and left it to the employees. In NYC, my top performers are back in the office four days a week (minimum), same with the 2 of 4 top performers here in Boston. Even though facetime with me is not important, the clients have definitely remarked that it's nice to be able to meet in person, have lunch meetings, etc.

If the unemployment level rises, many employers who want their employees back in the office will have more leverage to compel them back in.

Like everything, companies that correctly value their employees will do better than ones that don’t. Some jobs just can’t be done effectively remotely and allowing employees to try will come at too great a cost. Conversely, some jobs can absolutely be done remotely and trying to make those employees commute for what amounts to no good reason will effect retention with limited improvement in the bottom line.

[redplum33]

Originally Posted by msRB311

I am sometimes amazed when I happen to step out to do an errand or go to a dr's appointment during hours that you think most people are working or are at work. It's why I know that in my area most people are doing hybrid/WFH and many women are SAHMs.

And I'd guess many South Shore women have OnlyFans accounts.

[msRB311]

Originally Posted by redplum33

And I'd guess many South Shore women have OnlyFans accounts.

I have heard of that but don't know what it is. I'll look it up. But no not me.