With those great numbers that BM just shared, the bonuses and raises are going to be up significantly. Right?
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One message to the public, one message internally when it comes to record earnings and EOY comp BS.
@a8+1key7p5k7 - actually no. Am a b2 manager of B3s and it's no different than the rest of the house. B1s and B0s. (yes, B zero is the top. oh, the irony)
The truth is "record earnings" is a farce. The same bean counter Accounting / Balance Sheet gymnastics Finance is compelled to manifest every g.d. quarter.
Investor Relations has to issue a lower "whisper number" to the Banking Analysts on the Street who cover the stock -- intentional low-balling -- so lo and behold, we "beat expectations".
(how does the SEC even allow this sh!t? everyone does it, does not make it right)
In the absence of any real meaningful growth, with expenses still "running high" (how many more years must we keep hearing that?!?), compensation will remain suppressed.
So there is no real money to increase pay for anyone, unless it comes off someone else. After earnings is announced, they move everything back to where it was and the shell game commences again for the coming quarter.
And how on earth do these mo--ns continue to be paid more for NO TRUE GROWTH???
The Board is in their pockets and asleep at the wheel.
Can you be any more morally bankrupt than the top of this house?
Bonus pools are significantly down, as are merit increases. Half of my team is seeing a 10% - 14% cut in bonus for the second year, and half are not getting a pay raise for the second year as well. All this despite working massive, unpaid hours, holidays, weekends.
Unless you deliver transformational improvements, it’s going to be another bumpy year. The job market is not great for employees so corporations don’t have to compete with better pay.
@eh Got my annual review and it is meets/meets. Another successful repeat in my performance. I do not know why I have to listen to the same BS each year. This equates to the same amount of peanuts (or less) in which I will find out later. Meanwhile, Sams Club has instant savings on peanut butter. Need to stock up to ensure I am ready to support my corporate lunches in 2026. One item to note. During the review, I was told that there will be no exclusion weeks for WFH effective immediately. The hybrid WFH policies will also be revised to include the possibility of terminating them.
Best of luck everyone.
Only for BM
@a8 Getting my annual review today. Another s-b story of meets/meets to be followed by the next meeting with more peanuts. The only highlight of today's meeting is that I am not alone as most of you are getting the same treatment based on the previous posts. I wonder what would happen if BOA did not get the beaucoup profits reported for many years. Yep... The same with less or no peanuts. Getting ready for my commute and packing up my peanut butter and jelly sandwich for my corporate lunch.
Here at the bank, we have a "Pay for Performance" model. If you bust your @$$ day in and day out with stellar performance and go above and beyond we'll consider giving you a 3% raise instead of a 2% raise. A raise such as that might not be in the budget though. Anyways, thanks for the record profits!
No, you will get the BS story of the month club.
Peanuts? Was hoping for the jelly of the month club and a pizza party. Lol
Upsets me every time I see the earnings when they refuse to give earned pay increases and promotions.
those profits are eaten by B1, B2, B3 and B4's. You will get peanuts
I actually feel bad for the low level managers who'll have to start off the conversation with those same tired talking points.
I should get a raise as big as the sarcasm dripping from this post and I would be happy, lol.