do people who get exceeds expectations get that much more than those who got Met expectations?
7 replies (most recent on top)
LOL, the boomers don’t get the raises outside of the C Suite.
You’ll have to learn to work and it’s sink or swim when the last boomers retire. Have your fun but it’s going to be hard everywhere with the brain drain in the workplace.
There will be no participation trophies and no Helicopter Moms attending your performance reviews.
Don’t shoot the messenger… make positive changes now and skillup.
It’s better incentive and merit for better performance. That’ said, amounts vary across business lines and also…the firm sets limits over and below prior year and factoring in performance ratings. It really serves to make bonuses sticky…both to the upside and downside, assuming expectations are met or exceeded.
Tech Manager
What do you think yearly raise is for someone who exceeds perf / meets values?
Going from memory, I believe the pool was 3 or 4% for raise. If you got exceed/exceed you should get 6%+. When you fill in the raise and bonus there are soft minimums and hard maximums. There also was a market rate adjustment of +- 8 - 15% that was done this year which was effective Jan 1. But that was rare. Bonus pool was 5% less than last year. I think max for anyone that was partial was 10% of what they got last year, so pretty brutal. The list for people to let go was finalized prior to the bonus/raise being entered, so I gave zero raise to those being let go and gave that money to others. As to bonus I gave normal bonus to those being let go, and it wasn't changed. But I wouldn't be surprised if they knocked it down behind the scenes.
i actually did not get exceeds. sorry are you here to help or be a boomer?
Hey I got an exceeds!!!
And am one of the 1500. I think you are on the wrong board.