Are there more than one promotion cycle at Citi (other than the Jan one)? Is my manager lying when he is saying that if I missed the promotion this Jan I will have to wait until the next one? Because I can see people being promoted mid-year as well at Citi, unlike other banks...
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These are true and genuine feedback. Can someone share insights into the off-cycle promotions process at Sh-t bank, also known as Citi Bank?
The path to success, abundance and the life of your dreams isn’t by working 40+ hours per week for your boss, begging for a few vacation days and a 3% raise every year. Post ID: @1wye+1ubnpqPI
Post ID: @3ihdm+1qC0NMPJ These are also the same reasons how Citi determined who gets laidoff or not. Meritocracy and business needs have very little to do with it and are just a facade for the real reasons of cronyism, favoritusm, politics and nepotism.
During the last DART Townhall the Interim Id!ot (since Citi Fired Coriolanus (Hunger Games movie)) didn't want to admit that there is NO Training for additional education and certifications such as CFA, FRM etc.. Employees are on their own. He also did Not want to admit that tuition reimbursement is subjective and depends on IF your manager will approve it. Some do, others do NOT. There is absolutely NO incentive or trade-off to stay at Sh!ttybank. At least at GS, JPMChase, Morgan and other competitors the salaries and bonuses are significantly higher even if they want 3 to 5 days RTO. AND there's tuition reimbursement!
Why any promotions in August?
During the Townhalls when the HR Bobbleheads Airheads speak, they act like the Citi "promotion" process is a Fvcken science and a meritocracy, when ALL Employees know it's NOT. It's maybe 20% a meritocracy, and the remaining 80% is subjective Bull$H!T all about politics, who likes you, who does Not like you, who's threatened by you (your knowledge, work experience, etc.), do you make more or too much money for your current C-level, cronyism, nepotism, favouritism, BullSH!TISM, etc..
Post ID: @2Yeiy+1qC0NMPJ You're right. SOS Same Old Shi+. So Sad. Talking-heads Pretentious Empty-As-A-Barrel-Full-of-Vinegar HR and other Bozos in DART Townhall meeting said the Same Old Sh!t this morning. Oh, and you forgot Cronyism besides nepotism, favoritism, and politics for why other Employees who are less qualified and/or do less work are promoted.
Also, No one wants to wait forever or years for a promotion and significant salary increase that may or may not happen. Life is too short. Employees simply give up and end up looking externally for career and salary growth.
Post ID: @2Yeiy+1qC0NMPJ Yes Agree. Citi is delusional and thinks its "promotion" policies will encourage employees to work and try harder. Citi's policiies have the opposite effect. Citi's policies discourage and demoralize employees. Also, No one wants to wait forever or years for a promotion and significant salary increase that may or may not happen. Life is too short. Employees end up looking externally for career and salary growth.
Post ID: @2Yeiy+1qC0NMPJ This is one reason why Citi is ranked low and has low caliber Employees compared to its Competitors. He|| even Wells Fargo is beating Citi's @SS, even after Wells Fargo endured years if not decades of fines, regulatory sanctions, Consent Orders and limits on its growth imposed by the regulators. And Wells is Not even global or a multinational bank compared to Citi !
Citi is Not advertising or emailing what you explained in clear detail that Citi is unable or unwilling to disclose to its Employees and external job applicants-Svckers because then more Employees will give up and Quit, or just do the bare minimum work, or Stop going the extra mile because what's the point when 80% of Employees are Not going to get promoted and get a sizable Salary increase ??? Also, fewer external job applicants will apply to Citi because they'll think twice if not 3 times about applying because there's No career and Salary growth, and there's only stagnation at Citi.
When internal Employees only do the bare minimum work, do Not go above and beyond their duties, and do Not offer innovative solutions to problems, these feed the vicious cycle Citi is in of Incompetence and obsolescence, or mediocrity at best. Citi will NOT live to see January 1, 2026 ! LOL!!!
Post ID: @Rcyn+1qC0NMPJ Citi has of course again holding "How to manage your Career progression and Demystifying the Promotion Process" BullSH!T meetings. It's SOS Same Old SH!T as in previous meetings. There is absolutely Nothing mystical, mystifying or confusing about Citi's "Promotion Process". Citi should simply email the below to its employees and prospective employees-Svckers:
- Unlike real banks and other competitors, Citi promotes only at most 20% of its employees each year.
- Even if your MD or D fights for you during the always heated and contentious promotion meetings to make their and your case for your promotion and by extension a significantly higher salary, only 20% of Citi's employees will be promoted.
- Citi's 20% at most maximum is Not unlike applying for a job, applying to a selective College or University (e.g. Ivy League and sister-Ivy League), or buying a raffle ticket in a Raffle. You can apply for hundreds if not thousands of jobs at an Employer, but still never get a job offer. No matter how good or smart you are (e.g. play in varsity sports, have a 4.00 high school GPA, have a 1550 out of 1600 SAT score, etc.) you still have a high probability of getting rejected by the selective Colleges/Universities since they have an admissions rate of 30% or lower (e.g. the Ivy League colleges/universities average a 10% acceptance rate).
- In relation to #3), you will find that other Employees were promoted for right or wrong reasons, some are less qualified than you but are promoted due to favoritism, politics, nepotism, brown-nosing, etc..
- Because of the above, 80% of Citi employees will NOT be promoted. Other posters already mentioned that Not all relationships are meant to be for right or wrong reasons, and that divorce, Quitting is always an option. You need to wake up, plan and execute your Exit Strategy Out-of-Citi and get promoted at the higher Salary by a new External Employer.
- Stated another way, assume there are 5 Academy Award nominees for Best Actor/Actress, whatever category. Only ONE person will take home that Academy Award or 20% of the 5 nominees.
Post ID: @Uqmo+1qC0NMPJ Do the Bare Minimum until you find a better, new External Job OUTSIDE of Citi. Do NOT go the extra mile or do more work. Do NOT multitask. Do NOT rush.
Post ID: @Rcyn+1qC0NMPJ You are 1000% percent right. I have mentioned my story on here before, but I’ll tell it again. Couple years ago, my coworker got promoted and I didn’t. We started at the same exact time and I only ever got ones and twos so there was no reason not to promote me. When I found this out, I immediately called my manager. I’m a pretty blunt person I basically put her on the spot and asked her why I wasn’t being promoted and how I go above and beyond, etc. That year actually I had to do a big project so if I didn’t get promoted that year, I never was. When I mentioned the project first thing she said was oh, you didn’t work on that your own then she said well that’s only one project - you have to do more than one project to get promoted. at that point I knew it wasn’t going to ever happen, so right then in there I decided to give up and just be an average worker. I told her that I wasn’t falling for it. she obviously did not wanna promote me and she kept saying it’s partly up to HR. I said to her if HR rejected it it’s one thing, but if you didn’t even put in for me, it’s another. I then asked her if she put in a request for me she didn’t answer that question and said it was confidential Because I was so blunt, she said to me that she would never talk like this. to her manager. Since I gave up at that point, I said “well, I did”. Then she tried to gaslight me by saying that she is surprised at me, and would think I would be happy for your coworker that got promoted I told her don’t twist this on me. I also complained to HR and the funny thing is the second time I called HR she already knew I was a troublemaker so she was prepared. She started to type very quickly as I was talking so I knew she was typing everything I was saying. I called her on it and said are you typing what I’m saying she said oh no I’m just answering an email. As soon as I said that she stopped typing. Bottom line if they give you all these excuses why you shouldn’t be promoted and didn’t do enough and then try to incentivize you by making you jump through hoops don’t fall for it also HR is not your friend.
Sh!tibank aka Citibank must rename its VOE Survey To VOEAAP, Voice of the Employees Accept and Agree with Policy since Sh!tibank only wants Employees to agree with and accept its policies. Any and all comments or suggestions that are critical of Citi or do Not agree with Citi's policies are ignored and will Not be implemented anyway. The VOE's sole purpose is Waste Shareholders' Money and time because, this is the only thing Citi is good at doing. LOL !!!
To the OP Post ID: @OP+1qC0NMPJ : Some departments are now holding the usual BULLSH!T meetings about how to get on a path to promotion. Citi and it's toady's are so FVCKEN Out of Touch and Braindead, as well as in denial of VOE comments, that they do Not or refuse to realize that Citi can make the Path to BULLSH!T Promotion to the next level extremely Easy or extremely Difficult. It will NOT matter either way because of the Forced Ratings Curve Citi has in place. Only 10%% to 20% of Employees who are seeking Promotions will get Promoted. So in other words, you can successfully complete every task on the List of Path to BULLSH!T Promotion and STILL NOT GET PROMOTED !!! As long as the Forced Ratings Curve is in place, it's NOT worth the FVCKEN EFFORT. Employees will only be SVCKERS doing all that extra work only to be NOT PROMOTED in the end anyway. Employees can see through the Citi SH!T Show, will self-select out of the BullSH!T path process and instead get external jobs. Some of these Employees will be the ones Citi might actually want to promote because of their specialized skills. knowledge or experience. It's Citi's loss because of Citi's Out of Touch, Braindead, DvmbA$$ Forced Ratings Curve Policies !!!
Newly joined VPs (1-2 years)make much more than SVPs in same teams
is that cuz they get big bonus and base?
Most VPs are SVP obsessed from the day they join
@drb+1qC0NMPJ let’s say someone is suppressing you at Citi. You should have or atleast now, get the next level outside Citi and prove to your manager that you are next level. The fact that you stayed implies you don’t see yourself in the next level.
It's not.
I hope they demolish the SVP and VP layer to be honest.
OP here: And what if everyone else around you are less experienced and less educated and frankly d-mber and they are already promoted to SVP? Is it still arrogant to demand to be at the same level? I do not think so...
Yes and one can always leave if one thinks they deserve better
Sometimes the ones who think they deserve it... don't. Why is everyone so entitled the last few years? If you want a promotion, apply for it???
I'd rather work for some who earned it through interviews rather than someone who expects it to be handed to them because of tenure. That's why have so many sh-t people managers. Title chasers. :)
OP here: I have noticed that Citi employees have some attachment to "how long have you been with Citi". That does not matter - what matters is cumulative experience across the industry/education/etc. Most of my colleagues have only Citi experience and they su-k - that is it...
Is promotion a right ? Or privilege?
It appears to some as right just because they worked for a year or more
We all deserved promotion. We all should complain. Why we dont?
If you are actually a vp and actually work here, there are inside resources to answer your ?. The fact that you posted casts a doubt about your character and legitimacy...also dont get all defensive
OP here: I am not complaining, my original post was a question regarding promotion cycles... I do not give a hoot about your opinion regarding whether I deserve it.
Complaining on here for 1 thing. The person could buck up and actually earn it for next year. DO such a great job - above and beyond - not just meet expectations, just an outsiders opinion...
Post ID: @npp+1qC0NMPJ : wow, what a stupid comment. Which part of the comment made you think OP is not suited for SVP?
Reading your post, You probably do not fit to the SVP shoes.
Thanks all for the advice - I guess I will continue pushing for the SVP and in the meantime will be looking for a new job. My manager is sh-t - people in the wider team are joking behind his back that he has lost 10+ people in the past 2-3 years... So I guess I cannot expect a lot from him.
Promotion can happen anytime in Citi. If you find a req which is higher than your profile and you are a fit with the manager's interest. then you re promoted. Don't hang around in a project for promotion. it will never happen
In my area an off cycle promotion essentially requires a new Req to slot you into. Ain't happening right now.
It’s a lot of hurdles for off cycle promotion and most managers don’t want to go through it. So they wait for on cycle, where nomination are made in August/September. When your goal settinint begins, ask your manager to be very specific about what milestones need to be achieved for promotion and put that into your plan. At the same time if you don’t trust your manager, just apply for a higher level
Role outside your group. That’s another way to get a promotion and a pay bump.
On-cycle vs off-cycle…not sure about that one. We did promote in Dec.
You know, in our efforts to remove complexity, we got rid of 300 managing directors and replaced them with 304, adding the +4 more layers. Those 304 were promoted.
Such is our forward thinking and mitigation of such problems.
Post ID: @vnb+1qC0NMPJ: because I was hired on the wrong level, which became apparent after I joined. It seems lik VP at Citi is more like an Associate in normal banks. Plus, if you have the experience it does not matter whether you just joined the sacred cow called Citi - what counts is performance and previous experience. 2 years is more than enough to assess someone for a promotion.
Why are people expecting promotions as newcomers? I have seen them though.
Post ID: @mtx+1qC0NMPJ: thanks for confirming, so it seems my suspicion was correct. My manager did promote 2 people off-cycle since I joined, but is postponing my promotion for second year: first by using the you just joined narrative, and now by saying these are tough times, we will try next Jan. I think he thinks I am an id--t.
In my sector, there are no promotions. If you pursue a higher C level, you have to apply for an open position and will have the same consideration as any external applicant.
While it's true that this is the only in-cycle promotion timeframe, you can be promoted at any point during the year by your management. That would be considered an off-cycle promotion. It all depends on your department and the climate of the business/hr. Some departments don't like trying to perform promotions all at once due to excessive paperwork/overhead in a short timeframe and will spread them out. However, it sounds like your department/manager doesn't believe in performing off-cycle promotions.