I’ve heard a lot that merit was low this year. Can any leaders here shed light on what to expect for bonus and LTI? Assuming a meets expectation review
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The only confirmed information for merit is you’re a higher paygrade expect less!
Numbers are not approved yet they have been submitted. No need to create drama or anxiety for others.
We'll know in a week so there is no need to speculate. But as other indicates, it is not going to be low or even close, I heard it may be higher than normal.
Nothing is final until next week.
I was given my comp updates by manager in the first week of February the last 3 years. Have a feeling that's not going to happen this year the managers don't want to deliver bad news and are hoping for any sliver of guidance before communicating to us peons.
2nd worse year I've seen since covid. I been at the bank WELL over 10 years but not 30.
@d3 We haven’t been advised and are still waiting on those talking points… I doubt we’ll get them.
@cp how were you instructed to deliver the message of no raise?
Our group stack ranked team members and those in the meets got 90-100, depending on their rank.
If above around 115%, no merit, otherwise 1.5-2.0 for remote, 2.0-2.5 for in office. A few exceptions above that for particularly strong performers.
Bonus and LTI are different this year. Both were funded close to 100% but meaningful ratings target with new leadership at the bank is now 95%. There is some latitude to go closer to 100% but that will depend on business line guidelines. Expect a little lower than what you are used to.
Our group was told to expect just under 100% and zero for merit if you are at the midpoint or above in salary. Having worked at the bank 30 years I have never received above 3% even in good years and exceeds expectation. Usually closer to 1-2%
I’d expect 95% for bonus and LTI
100% should be expected for bonus and LTI if you aren’t borderline meaningful.
It should be 100%+