Anyone hear anything?
16 replies (most recent on top)
@ma+1jj538n6b Sadly, that sounds about right.
It’s merit based, so it will look something like this:
3% for SunTrust Bankers
1% for BB&T Bankers
Post ID: @j9+1jj538n6b
Not true for all LOB. Retail and SB banking is up to 2.5 for Merrit if TM reached 115% of goal.
Whatever LOB you’re in, we need to all switch to.
Merit 3%; AIP 107.5% Corp and 105% LOB; LTI was 100%
It’s not happening you hicks.
My area, 18% of teams were in ineffective, 22% were building, 40% were meaningful and 20% were distinctive. We used 80% or less is ineffective, 81-90 is building, 91-115% is meaningful and 116-150 distinctive and 151plus is exceptional. Almost all of my team’s categories were practically pushed up a level to get the ratings, they were realistically one lower in actual performance. This illustrates how much the company expects of everyone with what little they give in support and reward to each for reaching. 75% used to be meaningful, 60% building, less ineffective, 90 distinctive and over 100 exceptional.
1 if too new to rate
0 if ineffective impact
1-2 for building impact
2-2.5 for meaningful impact
- 5-3.5 for distinctive impact
- 0 - 5 for exceptional impact
Mgmt incented to award minimal, so resources of the pool can be allocated as discretion permits. This is simply a guide but encouraged to document reasons why giving less.
With pools set at 2.5% overall of base of team salary, more or less shifted around to those parameters to eat away at the 2.5 pool.
Up to .625% of the 2.5% pool comes from the firm, the rest is contributed from your business unit or region.
So 1-3 if I put everyone s estimates together
Wage reduction? I take a wage reduction every year our merit increase does not align with inflation.
3%
It’s really bad the suggestion is wage reductions - expect negative numbers
- 5-3% merit. 105% of Target.
Our region manager told some of the top performers to go pursue careers at other banks for now because our bank isn’t doing so well. This was Q2 onward in 24. I was surprised because I didn’t know he was telling my managers, unless they told me, but now that I see the writing on the wall, he was actually doing them a favor but it puts me in a predicament because I can’t keep top talent without tools and resources that back up the care we boast about.
Small pool
EL is telling us it has to do with “weak results” for the bank as a whole.
Expect something in the 1-1.5% range
Raises? At SunTruist? LMFAO!
Thank you everyone is avoiding it I figured it would disappoint