As expected this shiit company earnings halve from a year ago. Does this mean all the so called shiit leaders still continue to milk large bonuses and pay pennies to hard working employees?
almost It’s time for year end pay for performance conversions, wondering what my manager is going to say about promotion/bonus pay/pay increase/RSU etc
What is your best advice?
The big boys in management will use every trick in the book to siphon your bonus (and then guilt-trip you into even asking about it). You should be oh so thankful that you have a job at their glorious institution. This is all structured so the elitist big wigs get the big bucks and everyone else gets chump change. That's commonly tossed around as "equity" nowadays. Everyone gets equitably shafted, except them.
You would think if you are going to post something like this you’d take at least a few minutes and do some basic research and see why. And then you’d see the 2 billion + charge similar to all of the other big banks. This is the problem today, too many people are so quick to complain and too lazy to ensure they know what they are talking about.
Put it in your annual survey
Considering the environment we’re in, and the bogus FDIC charge issued for the failings of two other banks, I’d say this is pretty good results. Not cheerleading, because I am burned out with the whole bonus saga cr-p too. But at least it’s not a dumpster fire like several others are about to experience.
To those who think mass layoffs are coming, I offer you this thought - we’re over the hump. Rates are going to start moving downward, which will help TREMENDOUSLY with the problems in the banking economy. The winds are not blowing quite as hard in our faces now. Still blowing, but as bad. There is sooo sooo much locked up debt demand jammed in the pipes because of the rates spiking so quickly, that once they start to move back down, all of that demand is going to slam into the US banking system.
ANY banking executive who thinks laying off capable staff this year is a good idea, should be fired. Especially at BoA, which is already too thinly spread out on staffing across all divisions. When this next wave of demand hits, those in position to handle it will prosper, and those who are not, will either get left behind, or pay out the nose to get the right people back on their team to get it done. And for those of you who are sock and tired of the communist playbook on compensation around here - that is exactly when you go job shopping, and mark my words, those wheels to that event, are already turning…
Answer:
Prepare for bad economic times. CITI is laying off 20K over 3 years. BAC, while profited, made a lot less money. They will want their retribution for the "less money".
Save your money, stop spending, you'll need it for the rainy day that is coming.
There were a 2 large charges that impacted 4q earnings. Responsible growth is working.
Another quarter of no growth as JPM eats brian's lunch. Like to see a shareholder revolt have BM's head
Deal with it or leave. It's not going to change.