Thread regarding Bank of New York Mellon Corp. layoffs

Salary Bands

With the minimum wage increase, does anyone know how the salary bands shift for each grade level? No need for sarcasm, I know it's probably not that big of a shift but I'm still curious where I land.

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| 10761 views | | 7 replies (last December 13, 2023) | Reply
Post ID: @OP+1pY4DWSS

7 replies (most recent on top)

With regard to asking your manager for your pay grade range:

I suspected / sort of knew that I was near the bottom of my pay grade J, so I asked my manager if she could tell me the range several times in 2016 and 2017.

She worked at a different location, so it was always over the phone. She always seemed very concerned about my suspicion and I could hear her typing right after she told me she was going to look up the range and tell me right then.

Funny thing is that the system that had the ranges was always down when she checked, and she was going to have to get back to me later. :) I don't bear her any ill will, as I am sure that was the standard response, and she probably didn't have the ability to get me a raise.

I kind of figured that my department just got used to paying me less than my coworkers, and if they brought me up to my coworkers then there would be that much less for everyone else. I guess it was better to have one unhappy worker than many.

According to my guess from asking around, I was about 15% below the mean and just above the minimum for my pay grade, while always being praised for my job performance.

It was probably against policy to give an employee a sizable salary adjustment, since BNYM was and is so tight with expenses.

What my manager found out a few months after the last time that I asked was that it was against my policy to do excellent work and not be rewarded for it. I left for a job doing the same work with a noticeably higher salary.

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Post ID: @5rvh+1pY4DWSS

It's all smoke and mirrors.

Most positions that pay below the new minimum have already been moved out of the US. The truth is that very few people will benefit from this increase.

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Post ID: @2xoi+1pY4DWSS

its the 4th fricken bottom end raise with nothing but a salary cut above it when moving us to 40 hours from 37.5.

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Post ID: @2hkz+1pY4DWSS

@wfv+1pY4DWSS. Ask your manager for your grade scale. HR will tell you to ask your manager.

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Post ID: @1jum+1pY4DWSS

@sxb+1pY4DWSS
Agreed. If you are now making very slightly more than $46,800 and at higher salary grades than the lowest one in your dep, you would likely get a slight salary bump or adjustment to keep a reasonable distance between salary grades at least for current employees. We know that they are paying new hires more.

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Post ID: @bef+1pY4DWSS

What are the salary bands for each grade level nowadays? It was supposed to be transparent (lol) when originally rolled out.

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Post ID: @wfv+1pY4DWSS

Pretty sure they raise the minimum for the bottom band and all bands above stay the same. At least that's been my previous experience here

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Post ID: @sxb+1pY4DWSS

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