Hey all you “owners” looks like your $590 is now worth $500. We’ll done
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Pretty much every career track employee will be getting bonuses. B.S. and up degrees with good solid skills, good work ethic and a team player and you can’t miss.
This is truly a beautiful thing that Robin has done. To see the minions struggling to understand stock ownership, vesting, holding time, deferred compensation, obligations to employer and acting like an owner is priceless.
Yes, many of them will fail to take advantage of this. But very many more engaged employees will change their lives from these RSUs.
Ok, the optional free cash bonus was decreased and optional free RSU’s were added to your compensation. Isn’t Free compensation outside of your salary is a good problem to have?
Can you post the section of your employment contract which guarantees your bonus?
If so we can probably help.
But if it’s only an entitlement mentality, then this would be more of a valuable life lesson.
Nope. Both bonus and RSUs were completely optional and completely free to you. Perhaps you can run your theory of how you were robbed of your bonus to your immediate manager. It might get you a year’s sub vacation.
False. You are bonus eligible if you are in a exempt position. That can mean a bonus once a year, a bonus every decade or one bonus ever.
@1vd
Don’t know why this is so difficult. The cash bonus, if any, and the RSU’s, if any, are completely optional for all employees. Management can dole out or decrease any of these niceties at their discretion.
The only guaranteed compensation which we receive is in our paycheck. Some employees have employment contracts and are guaranteed certain levels of bonuses. For those people bonuses are guaranteed.
@1vd
It absolutely was free. Bonuses are not guaranteed unless they are specifically stated in your employment contract. Less than 1% have an employment contract.
Way back in 2000 Mellon Lockbox employees assigned to processing IRS tax forms fell way behind and began to shred tax returns.
https://www.foxnews.com/story/mellon-bank-tax-return-snafu-bigger-than-thought-tax-chairman-says
This fell under Treasury. Despite only 5 lower level people being involved, there were no raises and no bonuses for any Treasury employees for over two full years.
Neither a raise nor a bonus is guaranteed. You can and will lose both if you’re unfortunate enough to work in a division that had compliance issues. Simply more proof that neither a bonus nor a raise is guaranteed, no matter how well you have performed.
One sole sleepy business line within Mellon Trust lost a ton of money in the mid 1990s. There were no raises and no bonuses whatsoever in all of Trust for two full years. So it’s not even based on your performance at all.
https://www.americanbanker.com/news/mellon-chops-back-bonuses-after-securities-loan-losses
Those who think that bonuses or raises are guaranteed are really naive.
Yep. Definitely don’t take them for granted.
I was exempt for 35 years. I received bonuses about 2/3 of the time. Wait until your larger business sector has a tough spell. You’ll see.
You get a bonus if you are in a exempt position.
Who are all these people getting bonuses? I’ve been here 15 years and have never gotten anything besides a cr---y 1.5 percent increase and more expensive benefits.
Nope. Not unless you have an employment contract that states that you have an annual bonus. If not , your bonus is discretionary. Over the past 40 years there have been numerous times when bonuses have been cancelled. Once for consecutive years.
So don’t think for a single minute that something was taken from you, as it wasn’t.
Gotta say that if leadership has ever had anyone assigned to monitor social media, Including this board, that it will be a cold day in h3ll before Robin ever does anything nice for employees again.
Never seen anything here approaching this level of hatred for free money. It’s just incredible.
People conflating lower bonuses with RSUs are totally off base. Overall compensation is far more complex than that and you’d do better to understand that bonuses are and always have been completely optional except for those with employment contracts.
99% of us are “At Will” employees. It’s really far better to learn than to whine.
No cash bonus has ever been guaranteed except for Senior Management with contracts for cash bonuses. The VAST MAJORITY of those working in this top heavy bank are lucky to get a bonus even once or twice in a full career here.
These RSUs are a completely free way to learn about investing, risk and reward and stock ownership. There is no downside whatsoever. Only those with an entitlement mentality could possibly see his as a bad thing.
We’re talking about a wonderful gift of stock ownership as well as a leg up on learning about equities. This a beautiful thing that Robin has done for us.
@1qtc It was not free. The cash bonus was reduced by the stock…… the stock can’t be sold for 3 years. If you leave- you forfeit….
With this mentality you should simply sell and be done. the whining about free stock is amazing to me.
This stock fall is brought to you by collaboration and innovation, and of course RTO.
And soon those slices of cake will be worth more than the RSUs
@OP You’ll done with what?
Haha. What a terrible company which is also terribly woke.
Wait- so the bonus money I could have in my hand.. is now only worth $500? That is great! I love being an owner!