In all honesty, providing the current level of inflation and cost of living, what % pay increase would you say would be fair this year?
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Huh?
My wife got 7.5% at her job. She's a manager for a large healthcare corp. That'll make up for whatever pathetic raise we get from BNY.
- 5 if you meet expectations. 1.7 if you exceed. It’s a joke.
@1zsb+1kHAbyMk Can't wait for RV's bonus in the proxy lol
We’ll get the same BS message, the ‘pool’ had bee cut, therefore your increase/bonus are lees then hoped gor
Fair? CPI+ some spread reflecting your increased institutional knowledge and experience.
Reality? You’ll get 2-3% and you’ll be fed some s-b story about expenses and “At least you still have a job”.
This a GREAT step forward by a millennial. Those of us who were smart and hungry young I workers in the 1970s learned this lesson. Those that didn’t struggled forever after. You sir are a credit to your generation.
That’s one small step for a millennial… hopefully one giant leap for a majority millennials.
@hzn
I’m learning this now as an early 30 something year old.
I’ve been here for a decade right out of school. Worked my a-s off to get lousy raises every year. I get paid ok. Do I think I’m worth 50k more? Of course not. Would I stay at BNY for a very long time if they paid 15k more per year? Yes.
Having said that, it’ll never happen and it’s time to move on. The bank is eventually left with sub par employees.
@OP.
Pay raise, not payrise.
Unfortunately, needing a 6.78% increase just to keep up with inflation.is not the same as getting one. This is where you learn that you need to skill up, network and move for a raise. Learn about risk and reward. You need to take some risks, look for a new job, or go out as a contractor. Don’t laugh… if you’re smart and work hard it’s better pay and you learn a lot of different skills quickly.
It’s important to these lessons by your early 30s.
Been here for close to 20 years... Yes!
Prepare to be insulted. It's what BNYM does best
Less than 4.5% would be an insult.
@fpy+1kHAbyMk package is 2 weeks' salary for every year you worked at BNY. Still want to get laid off?
Safe? I WANT to be laid off! Assuming the separation package it worth it, which is what I'm trying to figure out...
@tkm+1kHAbyMk Begins Tuesday until end of week. If you don't hear anything until end of week, you're safe!
Can you please tell us what actual day the people being let go are being notified?
Also, what is their "separation package"?
The allocation is 3% of salary. That includes allocations for people being let go, so people should be getting slightly higher than 3%. I have 3 people being let go so I gave them zero raise and gave it to others. So if you don't get at least 3%, your manager gave it to others.
Enter your compensation and date it took effect. Anything less than calculated is a “real” loss. In my case, I need a 6.78% increase just to keep up with inflation. Between 0 and negative 100, what do you thing the odds are of me getting it?
https://data.bls.gov/cgi-bin/cpicalc.pl
They are laying people off. People are getting 2-3 percent. Most places are not matching inflation, that just would continue with inflation train.
I know a higher level manager who is very close with a sr manager. Expect a little higher than last year but nothing life changing. 3.5-4.5%
Anything less than 5% would be an insult, but knowing this place we’ll get our usual 2% or so.
I would give anything to go back to the late 90's and before the merger when we would get 6 and 7%. I know there are others that remember this. Those were the days but now they are all in the rearview mirror never, ever to be seen again.