“We reviewed compensation and opted to give your hard earned money to the people who are entry level and provide basic services vs the top level associates whose work actually has direct impact on the organization.”
Always a nice slap in the face when the organization rewards entry level associates whose work can be contracted out to monkeys over educated, hard working talent.
Plus more regulator fines for when mistakes are made and processes forgotten/not followed.
@1ptw+1ivSXqiB asked, "Why pay for your experience when they can get 75% of your performance for 50% of the cost?" I can think of 225 million reasons. When you lose experienced people, then you get a $225MM fine from regulators for botching unemployment benefits during a pandemic. As a shareholder, you start to lose confidence. Great, you made deep cuts to payroll by ousting experienced employees, but lost core skills sets that actually make the bank function. Brilliant.
Given your comment, you’re probably a lousy leader with a pi-s-poor attitude… might be why you’re not being paid more.
Why pay for your experience when they can get 75% of your performance for 50% of the cost? = "Positive operating leverage"
Being the best we can be, as long as it's under the lowest budget possible.
Maybe their delivery wasn’t great but they have a point…
What’s offensive is being told my upper management that they are more willing
to give new hires more money than long time associates.
Also nothing more offensive AND degrading than being a SME forced to train a new hire off the street, with no experience, that was given a higher title & more pay than you.
You’re directing your ire toward the people that are also getting scr ewed over by the greedy corporations and billionaires.
The bank has plenty, I repeat, plenty of money to give everyone COL raises, and to just pay more in general. There is no reason Moynihan needs to get paid 500x more than the average employee.
It’s all a scam and they love to see the poor workers direct their hate to the even poorer workers.
Wake up please.
Probably you were also a "monkey" at some point of your career, but you just forgot it already... Or were you born being a "top level associate"? There are plenty of hard working people among entry level associates for sure, and they'll replace you eventually. How arrogant and prejudiced. Now it makes sense why the company is in decline, thanks to inhuman 'top level associates' and managers like you.
It’s pretty offensive even non entry level staff. Say it in the workplace please and get your a$$ fired. How rude.
I think your comment is pretty offensive.
This is pretty offensive to those who are just starting their careers here and doing jobs not many want to do. To those who were considered essential and had to come in during Covid.