So I was hoping to get promoted since last year, my manager is horrible and did not promote last year and gave me hope for this year with extra work. I did everything and beyond this year but my manager still rated me met expectations and said no scope for promotion this year. I dont agree with it and want to go to my Director or MD. What will happen if i donot acknowledge my met expectations review? Will i not get performance bonus also?
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@OP No, as in life and in the game of Monopoly you will not pass Go or collect $200 -- or the equivalent of your annual merit increase, whichever is less! The BNY annual performance review process is whitewash for another dirty and corrupt practice that allows senior management to stack the deck against hard working employees.
As a VP i can attest our ratings don't matter. They change them on us all the time. And as for the forced rankings, if we don't abide by the all mighty above they do it anyway by choosing whoever they want and also rate us as below for insubordination. Has happened last 6 years to me when i open up and see those were not my ratings.
Just keep your head down and work to leave BNY.
If you create perceived issues, or ask too many questions, leadership may want to rid you from their building.
I drew the attention of a director, for asking questions regarding department compliance issues... and was shown the door.
Nothing you do can save you. What's done is done. Speak up and you'll most certainly be done here too, out in the next round of dismissals. Sorry. You'll just have to figure out how to get on as you are.
You need to learn to read the room. Every. single. thing. this company is doing now is to encourage people to leave, save on expenses and pump the stock. Promotions? Out of fashion! Rating people fairly? Gone with the wind. Severance payments? Okay, Boomer, keep your old fashioned ideas, and please don’t let the door hit your empty outstretched had on your way out. Treat people well so they want to work hard for the firm, and love their work? So quaint.
Good luck attaining the unscalable heights of getting exceeds/promoted.
This place has no interest in that these days.
How it works at this bank (any every bank) is that pay scale is correlated to pay bands. If you are back office in a non revenue generating function especially related to risk, compliance, governance, the titles will be lower as to suppress pay. If you look at WM, Markets, you'll see much higher titles with many free floating directors ICs. Now look at engineering (US based), it will be lower than client facing roles but likely higher than your org in officer titles with many SVP type ICs.
I recall one of the requirements to get promoted was to get 'exceeded expectations' 2 years in a row. If your new manager gave you 'met' this year, then it did not help you.
My impression was any promotions were rare and discouraged - people who got promoted not long ago to SVP, etc. have experienced 'managing out'.
Nothing good will happen. Just sign it and continue to work the way you want. Look for a new spot in the meantime. Things like not signing the review just puts an unnecessary target on your head. Find a new job on your terms.
@cn Dont know if my group is supposed to promote or not, my old team (old manager) is VP under whom 4-5 analysts and associates, new one is SVP under whom all VP except me an associate
@bj VP, SVP and most Directors are worthless officer titles; The only one that starts to matter in your group is the platform head minus 1, that is usually the SD/MD that sits under the MD that reports to EC minus 1 person of your org.
Get it out of your head that your manager has anything to do with your promotion. Learn to play politics and start figuratively su-king off your leadership chain for best chances. Have you figured out if your org is even supposed to promote? If you are in a group with senior associates reporting to VP's, that sounds like the intended working level for your team. There is actually no need to promote anyone.
I didn't sign my 2024 year end as it was full of lies. Unfortunately didn't get anywhere overturning it. Its a joke of a process
How is Risk doing? They are renowned for this . They promoted an average guy in London last year. Then they got rid of three very high performing people - two MDs and one Senior director. Now the minions are trying to run the show and obviously the visits from Dr.Sc--w Ups happen daily. This is what happens when the top people are totally incompetent.
@ax manager is vp and first time manager, knows nothing other than boot licking. on top of that manager got changed before the review cycle so technically old manager is doing review, new manager is SVP and also tech lead. do you think it’s worth it talking to new manager about my expectations, he knows POs and Ds
This is why I don't go overboard. Never matters in the end anyway.
Nothing. It just doesnt show completed on your side
Acknowledgement is optional. The whole process is optional really from a HR perspective. As long as the manager has scheduled a session to speak to you about the review, that's a done deal from. Their side.
You didn't get promoted probably not even because your manager doesn't like you or is a bad person, it could just be that the quota was used up elsewhere in the department. Since you mentioned D and MD, your manager is probably SVP. SVP and D have very little in days when it comes to promotions.
I am in the same boat. Overwork with a carrot dangled. As a su---r I took the bait. Midyear I was given glowing reviews and got a few hundred dollars as VIP rewards. Got facetime with the MDs and was projected as a champion. Well when promotion subject came, it was DEI and my manager was blunt that I do not have the right genitals or color.
I am angry and I have lined up a job but on the other coast. Working out the logistics and being a bit calculative - want to get my bonus and quit. Also have almost all my vacation left.
Moral :: Your manager may be a good person but they can go only so-far without risking their paycheck. Capitalize on the knowledge you have and use the time to learn at BNY expense and leave. This is a training ground for better opportunities.
@a5 I had the discussion already and she said she has already saved it as met but not above and not nominated for promotion. I just think its very unfair considering she made me work 12-15 hrs a day as a developer. Do you have any idea if i donot acknowledge the review, what will happen?
At BNY, your review is not based on true performance. Managers use it to falsely rate performance related to their goal of meeting % of layoffs. You’ll receive something below Met, you’re gone or Met, they are going to continue to bleed the life out of you.