Any managers got any insights on what the merit and incentive numbers look like vs prior year?
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I’m a manager in a non core location, with a now totally remote team. We were supposed to be laid off last year but it was delayed. My employees are all getting raises, which is hilarious to me. By delaying our layoff they’re now going to pay ~3% more in severance costs for over 50 people. I also have it on good authority the managers are getting bonuses.
All three are true. I am literally looking at the HR talking points sent out that was not supposed to be shown to me.
It sounds to me like it’s glorified pool levels as all recent years. No MATERIAL increase commensurate with how the stock has done. Just more evidence of mindset that you would help earnings more by leaving.
Bonus pools were funded differently by LOB. Most were up. Merit was funded at 2.84% to allow for required adjustments making it really a 3% pool.
The part about to merit if above a certain percent in your pay range is true in Risk
No merit/raises for non core locations--false
No merit/raises if you were above 50% percentile of comp--false
No merit/raises if you were IM/NI--close to true
"No merit/raises if you were above 50% percentile of comp"--is this really true or just in some groups?
@a1 Outside of these, what I've seen is a lot like last year, slightly higher.
No merit/raises for non core locations
No merit/raises if you were above 50% percentile of comp
No merit/raises if you were IM/NI