Is this true or is my manager lying to me
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one thing you must learn about the company as a new employee is you will always be disappointed, and the bank will always be as cheap as possible when it comes to your comp and benefits.
Raises were moved from July back to April. Get your facts straight.
As a soon to be ex-30+ year employee (when RTO happens) I can assure you that your average raise over the years will be just about 2%. There will be zero raises in approximately 1/3 of those years due to cancellation, deferral for a year, sometimes two years, regulatory fines due to Senior Management malfeasance , etc in FX, tax shredding, the NY Russian banking scandal fiasco, etc. There will be sub 1% raises for years if you’re over the midpoint or new to a long time clique team.
Network to move to a higher level job where you’re under your midpoint and/or have bonus potential and then lead a few major projects to get visibility. Networking is key as HR is there to prevent moves. Go to career days seminars if you doubt that. Nobody above a clerical grade ever interviews successfully for a new job without knowing that they have it first.
True, your entry pay does beat that of 20 year veterans, the very folks whom are now training you.The ball is now in your court… let’s see what you can do..
We already hired you at a pay rate that is likely more than 20 year veterans, so you should just be happy for that.
Depends o. When you started. If it was late in the year why would you get anything relating to merit when you’re new and still learning
@1dlo+1fdmyDGS Merit goes in April 1
Your merit should be prorated based on the number of months worked during 2021. While the merit and bonus is mostly manager discretion, it is a downright lie that 2021 hires do not receive an increase. Your manager (or theirs) took your merit allocation and redistributed to whomever they felt was more deserving.
Open an employee relations case to determine whether your situation aligns with the explanation you received that 2021 hires do not qualify for a merit. If HR gives an ambiguous answer contact the ethics hot line right away.
Probably true. Also, your manager probably didn’t tell you that year-end raises don’t kick in till July. So if you joined in July of 2021, you won’t see a dime more till July 2023. If you’re new to banking this is your stepping stone - leave soon, if you’re from banking you’re SOL.
Think cutoff is join after September. October is really when comp is dished out.
yes, true.
did you work the entirety of the year? sometimes people who join midyear typically arent eligible for merit awards from my experience.
It depends on when your hire date . If you came later in the year then you’re too new to rate for goals or for merit. Earlier in the year you’d have goals and could have merit but maybe not as much as others. It also depends on if they increased your pay in December for cost of living . If they did you’re automatically disqualified from getting merit