Thread regarding Northwestern Mutual layoffs

Are promotions here also a joke?

I was hired as a P2 two years ago and have been working at a P3 level for well over a year. I brought this up to my manager multiple times during our 1:1s, but all I ever got were vague responses like, “We’re working on it,” “Keep up the great work”, or “in progress” —without ever getting any actual deadlines or clear answers.

Fast forward another year, and I finally get promoted to P3! But wait for it—this “promotion” comes with a whopping $5K raise. It feels like a slap in the face. To make things worse, the merit increases have been pretty pathetic the last two years, so I’m still nowhere near the midpoint for my role.

Should I even bother countering this offer, or is this just the norm around here? Would leveraging an external offer even make a difference at this point, or am I just wasting my breath?

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| 2542 views | | 13 replies (last December 27, 2024) | Reply
Post ID: @OP+1uPix9KU

13 replies (most recent on top)

@1iasm+1uPix9KU
I agree with you. NM is a place for wrongful PIP.

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Post ID: @1mrdx+1uPix9KU

@OP+1uPix9KU
Be glad that you didn't get closer to the midpoint salary. Once you reach it, your manager might either demote you or put you on PIP.

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Post ID: @1iasm+1uPix9KU

@7zxn+1uPix9KU

You’re upset that coffee makers are getting paid more than you. Sorry if you’re not ambitious enough to shoot higher, that a you problem.

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Post ID: @9mnp+1uPix9KU

@OP+1uPix9KU
Two years ago you were making coffee. In our product team we typically hire ppl with zero knowledge in investment or insurance. These new hires often advance to fill higher positions expecting increased pay. If you're not happy with ur pay, it might be better to seek a role in our cafeteria or get back to previous coffee shop.

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Post ID: @7zxn+1uPix9KU

Everything about salary is tied to compa ratio. When you're promoted you get set to 80% compa ratio. The closer you get to 90 the worse your merit increases get. Once you hit 100 (the midpoint of your salary range) it's over.

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Post ID: @6kmf+1uPix9KU

Congrats! Usually it is more like 5 years. Getting anything at all in the current climate is a victory.

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Post ID: @3opj+1uPix9KU

The raise you got his high. Usually it is half that amount. There is no point countering because nothing will happen. The comment about being a white male is very true. You have zero chance at NM. Welcome to the mess John created.

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Post ID: @1neb+1uPix9KU

Are you in digital product? There's been a huge reduction in product management funding and layoffs.

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Post ID: @1evx+1uPix9KU

Are you a white male? If so, that also plays a factor.

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Post ID: @1dsg+1uPix9KU

Welcome to NM.

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Post ID: @1yem+1uPix9KU

You'll never get to your base salary midpoint. If you're lucky, adding your bonus will get you there.
You may not counter or negotiate your raise.
Welcome to the game. Take it or leave it.

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Post ID: @1woh+1uPix9KU

There’s no P3 anymore. They were divided into T3 and T4.

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Post ID: @1luf+1uPix9KU

Depends. What was your salary before promotion? Promotions are usually 5-15% of your salary, so 5k for a P2 (assuming you aren’t in tech) sounds within range.

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Post ID: @gag+1uPix9KU

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