This was discussed earlier this week, will update this post if I can find that thread. In a nutshell: Morgan Stanley is actually the last major investment bank

This was discussed earlier this week, will update this post if I can find that thread. In a nutshell: Morgan Stanley is actually the last major investment bank to require its employees to come back to the office; many of its competitors already require employees to be back in their seats now that NYC is "fully reopened." In addition, they didn't have the same levels of attrition last year as they normally plan for, so they actually have too many people at the lower levels that didn't funnel out. So losing a bunch of workers who decide not to come back to the office doesn't really hurt them: they need employees who stuck around due to COVID19 to filter themselves out for their up-and-out staffing scheme to get back on track.