Does anyone know? I heard worse than last year.
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@5www+1pPCj6aH
I was just told someone in another department got a manager exception to work from home to babysit grandkids! WTF????
This place su-ks ba--s! Leave ASAP! Bonuses are a joke at BOA.
Will be interesting to see how many established 40-50 year olds pull the plug and become their competitors when things get better because of this. Their future leaders are for-sale, leaving them with the 60 crowd waiting to retire and don't care if the deal goes bad afterwards, and the newly minted college grads who have no to very little actual experience, and big hole right in the middle. I’m one of them, and will be making that move soon enough, taking my clients with me to the new platform. Same as they followed me to this one years ago…
Do the calculations on what would be the bonus difference would be for an E/E v a M/M
Divide it by 2080 hours and then you realize
You should strive for Meets Meets
@9lqh+1pPCj6aH
100% accurate
Have seen it go so many ways based on who is friends with who, who is sleeping with who & who is related to who.
From a B3 manager, general guidance across the board is E/E may get to remain flat from last year's bonus.
This obviously depends on how much of the company-wide pool the group gets. (I hope the B0, B1 and B2 leaders for our group are fighting again this year for us!)
E/M, M/E and M/M will be reduced a varying percentages depending on LOB, role, etc.
We are being told to "manage expectations accordingly."
I always just plan for the worst and hope to be pleasantly surprised.
"So, this year your bonus will be based on how well your team does. Of course, your aligned team members don't report to you, goodness forbid! Plus, we are giving you the lowest performing team in the nation. But Bob over here, my good ol' buddy, he gets the highest performing team in the nation and can sit back and do his job without pretty much lifting a finger, 3 hour martini lunches, you get the drift. Oh, and you and Bob get the exact same quota! Yes, your team is grossly incompetent, and you're going to work like a dog, but hey, at least you have a job! Lose the battle, win the war, right? There is no such thing as a level playing field here. Are you kidding? Good luck!"
I heard this year all band 5 will see a significant impact
I heard salary increases are down to 1-1.5% compared to 2-2.5% standard. Bonuses down roughly 25-30%. No consideration given to those who come into work compared to those being granted manager (not HR) exceptions to work from home. If you receive a manager exception to work from home, THAT should be considered your bonus since you don't have to pay for gas, car maintenance and in some instance child care costs.
My personal experience is that bonus has done nothing but decrease annually. Last year it was half from the year before. It used to be nearly 30% of my annual comp. Once the market picks back up, I’m out. 23 years has been about 6 years too long. Questionable choices in leadership, devaluation of people resources and ridiculous hours has worn me down. The annual survey is a complete joke.
"So, this year we're going to switch it up so that you have to hit each and every category quota - 5 in total - on a quarterly basis. Ignore the seasons, or quiet summer months, or the holidays. We don't care about your annual production! If your annual production exceeds your quarterly quotas, we will make it up to you but then we really won't because we will lie about that, too. But every quarter, you have to hit the numbers in all 5 categories or you will be placed on probation and be forced to start working nights and weekends to make up for the shortfalls. Be happy you have a job. You're replaceable! Oh, and by the way, you now report to Biff 5 states away. And we're recording and auditing all your phone calls. Good luck!"
Brian will get his 31 mil
But hey, dont forget the STOCK Bonus portion of your 'bonus'. It'll vest 100% in 4 More Years, so just hang on til then!!
I'm seeing pools in GT down about 20%
But you're lucky to still have a job wink wink nod nod
Yes, I also heard worse than last year. Could be 25-50% of last years’ bonus…. :( .
Really, really disappointing if that’s true!
Let's put it this way.... Jan/Feb = when the defecation hits the ventilating unit.
Blood will be shed.
Sr employees retiring and people eligible under the rule of 60, etc based on age & years of service
Look up your options and be ready
Plus the fact of all the senior employees pulling the plug and retiring. In my building alone we have lost nearly 25 people to retirement in the last 12 months.
The bank is now controlled by the shareholders, who want their share price to increase, either from stock buybacks or reduced expenses in headcount, our both. The depositors are not even considered, and despite the “best place to work” pitch, it’s a mess. There are SO MANY departments that are now completely overwhelmed due to lack of staff talent and morale, it’s only a matter of time before something big hits the windshield. Further dismantling is going to occur as people just give up and leave. I know of one department where that has already happened and they are failing the clients because of it. And they are the type of clients you do not want to fail. They come with serious political connections.
What is a bonus? :)
I have been with the bank for 20 years. In the beginning bonuses and perks were great. I have always been at or near the top every ranking. At this point my bonus is 50% of the max I have received. Raises have been all over the place. Bottom line HR has a grid based on your job role, based on band and how long you have been in role. Bottom line if you are on the top end of your role don't expect alot. The whole thing is a giant game.