Rotten to the Core
There’s a systemic rot that runs deeper than most new joiners realise. The issues aren’t isolated incidents — they’re structural. And if you stay long enough, you’ll see the pattern repeat itself.
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1. Institutional Bias
Let’s start with the uncomfortable topic no one says out loud.
Certain nationalities seem to glide through the ranks with suspicious ease — sometimes all the way to MD — regardless of how they’re perceived internally or externally. Meanwhile, others are left wondering what invisible ceiling they’ve hit.
APAC often feels like a satellite rather than a priority. Even the email domain reminds you where you stand. Decisions are made elsewhere. Loyalty flows one way.
Call it “cultural alignment,” call it “head office preference” — but don’t pretend it’s meritocracy.
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2. Chronic Pay Stagnation
If you’re hoping for meaningful annual increments, prepare for an annual ritual instead.
Every March, managers perform the same well-rehearsed script:
• Tough macro environment
• War
• Market volatility
• Shareholder expectations
• “This year is challenging”
Translation: 2–3% for non-promoted staff.
Promoted? Congratulations — here’s 5%. Whether you move from Analyst to Associate or VP to Director, the math barely changes. In “Investment Banking,” that’s borderline insulting.
This isn’t new. Glassdoor reviews from a decade ago say the same thing. Different year, same story, same microscopic YoY adjustments — wrapped in corporate messaging about how much “we value our people.”
Meanwhile, external hires quietly join at materially higher packages than loyal internal staff.
Loyalty here has a negative financial return.
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3. HR That Protects the System, Not the People
Employee retention appears to be an afterthought.
HR’s visible output? Workshops, development sessions, engagement surveys — surface-level activity that rarely translates into structural change.
HR Business Partners aren’t partners. They’re intermediaries whose role seems to be managing optics rather than resolving issues. Concerns are heard, nodded at, documented — and quietly neutralised.
Stay long enough and you’ll watch high performers leave. Then you’ll watch new hires come in at 1.3–1.5× your pay.
And you’ll understand how the cycle sustains itself.
