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.
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This pay bump as one of the biggest demoralizers ever! A lot of folks are leaving. It's all about BM! I hope he is enjoying his 17 million dollar raise!
@ynp+1hlsi1f5 - Exactly. "Better" job just comes with "more work", not "more pay."
I was INVITED to interview for a band higher. Interviewer said no pay increase. A better job apparently does not come with better pay.
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.