#compensation

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A Year Ago, They Promised Fair Pay. Now, They’re Cutting People.

Before Edward Jones started handing out pink slips and demotions like candy, there was supposed to be a real conversation about pay. Leadership told us they were reviewing pay grades firmwide and that the process would take about a year.

Instead of following through, they turned around and started firing people. Just empty smiles and “tough decisions.” And now everyone seems to have forgotten the original issue. We’re still the lowest paid people in the entire finance sector. That’s the part they don’t talk about in the press releases.

They didn’t fix the pay ranges. They buried it under layoffs, reorgs, and canned speeches about “efficiency.” The truth is simple: this company had a choice between paying its people fairly or protecting its executive bonuses. And they made their choice loud and clear.

How can these people sleep at night?


Benefits Rant

What a shame. Every year 1000s of companies renegotiate with insurers to cut benefits... Sick... Millions of Americans fight, every day, to avoid medicl bankruptcy. They pay taxes close to those in European countries with universal healthcare, yet get almost nothing in return. Healthcare +education are sooooooooo essential for a strong society. Still we Americans make sure both cost the most in the world (and reach the fewest)...


Wealth and Investment Management Bonus

Can someone share light on what are the bonuses for the marketing team at Wealth and IM? When I joined HR said it is anywhere from 30-55% of your base salary. I joined as SVP of product marketing from big asset management firm and we used to get only 20% so was surprised that the bonus range was so high? Also, when do they payout your bonuses?


Should I stay or go

Mechanical Engineer for Chevron of 5 years here in the Permian Basin, I make $152K base plus an additional 10% increase off that for living in Midland,TX and my bonus every year is around 45K, looking at the posts here it seems Exxon is just as Toxic as Chevron, but how is the pay since I heard y'all don't get bonuses?


What's up with HTHD / Sal grade 2

Appears to be arbitrary in that folks with less technical work than me have it, folks equivalent to me in technical work have it, some folks that are more technical than me don't have it, some orgs hand it out like candy and others like mine seem to distribute it with a tight hand like its a promotion. Doesn't seem to make any sense and wondering if anyone can shed light on it.

Just a shame something so arbitrary can have a significant impact on compensation


Great place to work.

Let’s talk about those emails we’ve all been getting — the ones trying to “explain” why our paychecks are about to shrink. Apparently, because there’s an extra pay period this year, instead of actually paying us for that extra period, the company decided to stretch our annual salary across 27 checks instead of 26. Translation? Every single paycheck is smaller.

For a lot of us, that’s not just a minor math adjustment. That’s bills. That’s gas. That’s food. That’s medication. We budget every dollar, and now the dollars are disappearing — all because leadership didn’t want to “overpay” their own employees for the work we already do.

And as if that wasn’t enough, they’ve slashed the company’s contribution to our Health Savings Accounts too. It used to be $1,200 a year — now it’s $900. And you only get that full $900 if you match it yourself. So not only are they giving less, they’re making you pay to get it.

The timing couldn’t be more insulting. After docking our AIP bonuses this year — supposedly to “balance finances” — they somehow found room for executive bonuses that skyrocketed into the millions. The president’s pay alone reportedly doubled to over $25 million. So while the rest of us are watching our paychecks shrink, the top is cashing in on the sweat and exhaustion of the people who actually make this company run — the nurses, techs, and support staff who show up every day and take care of our members like they’re family.

And let’s not forget the cherry on top: instead of loading that $1,200 HSA at the start of the year when we actually need it, they’re now dribbling out $33 per paycheck. That’s $66.66 a month. I’m sorry, but I don’t need to see that number show up in my account every month — it’s bad enough without the symbolism.

We’re the ones carrying this company — not the executives, not the board, us. The ones working short-staffed, fielding calls, and doing the impossible day after day. And the thanks we get? Smaller paychecks. Less help. Less respect.

They tell us to “remember the bigger picture.” Well, here’s the bigger picture: without us, there is no company. No record profits. No executive bonuses. No “success stories.”

So here it is — loud and clear: stop taking from the people who keep you afloat. Stop cutting from the bottom to feed the top. You can’t preach “member care” and “employee appreciation” in the same breath you’re docking pay and slashing benefits.

We see what’s happening. We’re tired. And we’re done staying quiet about it.


Something is shady here with this 8 hr deal

If they are going to treat exempt staff like hourly employees, threatening to hurt our review and bonus, i want my overpay time pay, i work weekends and sometimes 10 hr days. If they in anyway try and threaten us i would demand to see the data, for us compared to others. I don't know what WF Legal is thinking following directions from Bridget Engle, she doesn't even have a college degree. Their legal team better be ready because there's some hungry down and dirty lawyers who would LOVE to sue the living day lights out of this place and i will be calling them up if i'm in anyway shape or form impacted by some stupid 8 hr rule.


Is the current severance enough, considering the state of the job market?

I know people who were laid off from other companies more than six months ago who are still looking for a job. Is the money that will be given to laid off employees really going to be enough to cover such long periods of unemployment? And on that note, does anybody know if you can get unemployment along with severance?


Update from a laid off ex Cargill

680 job applications later and only 15 interviews in 6 months ( yes the job market is horrible) I finally was offered a job. I strongly recommend if you are still there to be looking as it can take longer than 6 months right now.

Oh and it's 40k more than I was getting at Cargill who said how competitive they were.

Ha


AT&T Benefit

Just received a benefits update letter informing me that I can buy Internet Air for $30 - my retiree "benefit".
The competition Mint Mobile who uses the T Mobile network offers same for $25.
Verizon has the same low price deal.
So what gives?
What's my benefit?
Why would anyone pay more as "a benefit" when they can turn to the competition for less?


Healthcare costs going up

Just saw email taking about the changes upcoming during enrollment period. Atleos mentions about the “staggering increases in healthcare” requiring an increase of rates.

That’s now a double whammy as they took away the benefit of being healthy (non smoking, sugar levels, etc) providing a discount on healthcare per pay period. Smokers actually benefited the most cause their rates came down!

Add that to worsening 401k company match, things keep going in reverse.


Many IT staff Being laid off now and continuing through the year.

Over the last year MMC has slowly hired on numerous offshore positions and brought people over on H1B visas to pay them lower wages. Now they are laying off a large number of IT employees.

The company is likely going to face serious financial turmoil over the next several years.


State Farm is exhausting

Talented people are quitting left and right, pay isn’t even close to what it should be, and somehow we’re all supposed to do more with less. Even the tiniest tasks take forever, and the stress is constant. Clients are annoyed, everyone’s on edge, and some days it feels like we’re just trying to survive the chaos rather than actually get anything done.


What kind of severance is being offered?

Please someone share what kind of severance is being offered. This time, a$$hole leadership is not even showing any humanity, just to make sure their a$$ is not targeted. What a bunch of shameless folks! If you love your friend and family, never refer them here.


Don't think you're safe

Even if you’re one of the best, even if you know this place inside out, you’re not safe. These layoffs aren’t about performance. It’s just about saving money, and that means cutting the higher earners, even if they’re the ones keeping things running. I’m not trying to freak anyone out, I just don’t want people blindsided thinking hard work and experience still count. They don’t anymore.