This shlitty raise they are giving us is a slap in the face. Do these azzholes know that gas is at 6 dollars a gallon. How the fck do they expect us to live off that and RTO in the middle of a pandemic. With this increase, I can't even buy a pack of toilet paper to wipe my azz. CEO BM is out of touch with reality and needs to step the fck down asap.
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Recession is coming = layoffs. That was the last 6-7% you're going to see for a while.
Read business insider article called The Great Resignation's giant pay gap between job switchers, loyal workers . Shows increase wasnt a raise at all, just poor attempt to match salaries for those of us who stayed and worked to all the newbies who got higher salaries and signing bonuses. Plus doesnt even help because have to use it to cover ridiculous gas prices to go back into office so we can “connect “ . Joke
I will never understand the “you should feel lucky they only cut off one of your legs” kinda people in these posts.
So, how many people will be laid off to make up for this rise in wages? With recession coming up, there is no way the bank's revenue can sustain this move w/o blow back.
You guys are actually lucky to get a 3-7% raise. My company is giving us 2% raise and last year they didn't give us one and the year before that they gave us 2.1% but delayed giving it to us for 6 months due to covid and the year before that they gave us a bonus but not a raise. So stop complaining. If you got 6-7%, that's great!
They are just doing it as a form of retention. Too many people leaving due to RTO.
I'd be happy to get a 7% increase as something is better than nothing and that's the equivalent to 7 years of annual raises for some of us (even at exceeds). It doesn't fix the problem, but everything increase helps.
My take is something is better than nothing. For instance not sure someone making 102k wants to hear someone making 98k whine about a 7% pay bump. Just sayin... Why can't the bank do something like give 7% bump for salary up to 100k then maybe 4 or 5 percent for anything you make over 100k up to 250k.
When asked by a 20 year tenured associate on a all hands call, what the plan was to increase experienced associates pay compared to entry level pay. The response was basically, we need to attract new people, we pay you what we pay you, and if you want more money get a better job at the bank. So clearly they believe this is a gift or even a favor that they are doing this for us.
Agree