But your raise will still be 2-3% maximum and bonus will be pennies on the dollar and taxed at 50%
25 replies (most recent on top)
Well this didn't age well
I’ve never got a bonus only the .25-.45 cent raise cause nobody ever gets a 4 for that.
I second this, id take 2% if it meant no more layoffs.
I’d take less bonus to see some of my coworkers not laid off or front line staff better staffed and compensated
Yep. 2023. My bonus was well over 20k gross...then the ax fell.
@qr That's not minimal, that's normal for CVS.
If you're rated as a 3 (ME - Meets Expectations) as the vast majority are, the raise will be less than inflation %.
@pr Yes, 2.5 - 3%
@mh To the person that confirmed that the Merit will be minimal, when you say minimal, do you mean around 2.5% or so?
@mh What merit increases? CVS merit increases are always minimal if at all.
The MIP funding is correct and so is the tax situation, remember to input 0 for 401k contributions if you don't want the bonus to go towards retirement. I can also confirm, merit increases will be minimal.
Do not trust it will always be like this. As another post mentioned its an accounting trick. I remember MIP being funded high a few years back than 5,000 layoffs.
@gh Are you a lead director or above? Sr. Mrs and Mgrs don't get that kind of bonus!!
The low bonuses the last two years were from Aetna su-king wind. Not so much from the acquisitions. Still Karen’s decisions regardless to your point.
Yeah that year was over 180%. I invested almost ALL of that sh-t in Tesla and apple and could retire now from that now,
It’s still an accounting trick for this year with oak street and signify debt.
That’s not true at all. You must have had gotten a 1 for your review last year.
And your bonus will definitely withhold taxes higher. Unless you get a paltry bonus of course. For some of us high performers it’s approaching six digits at this funding
@ej AMEN!
You are all acting like you're getting the 142%. Its not usually the case. Be grateful blah blah...WE are the ones who got the company there. Stop acting like we are so lucky. We earned that and more.
Just goes to show, can never make everyone happy and someone will always find something to complain about.
Some of you need to work on yourselves more than anything. We really whining about getting a bigger bonus? Karen and team had us at like 30% last year and was taking her atrocious acquisitions out on everyone else. Save the complaining for when it’s truly warranted.
It's still at the discretion of your boss. They did this before and then lowered it.
Happy about the 142% - I heard post covid was even better
yay, not bad at all. Thank you CVS
I, for one, am happy with the funding! Taxes have nothing to do with CVS. I expected less than this. Let's be happy about this communication!
The bonus is not really taxed any differently than your regular income.
A way to get that tax dollars back is to immediately re-calculate your withholding and adjust so that less is withheld the rest of the year and you don’t have to wait till tax time to get those taxes back.
With all that said I’ll gladly take the 142% funded over the 80% funded we had last year (along with no raises)