Thread regarding T. Rowe Price Group Inc. layoffs

Level: Senior-ish - IT in the US
Salary Bucket:
• 150–200k
Merit Vibe: solid
Bonus Range: other

Bonus higher than last year, Salary increase low. Overall not bad considering what is going on.

When I hear people say they got an increase above inflation and a bonus near target I think yeah right

Sort of year-end compensation related, but rumor is the 401(k) profit-sharing contribution will not be the 6% maximum this year. Unclear if it will be less than 6% or nothing at all.

Below target bonus and no increase. The decrease in bonus was massive.

Bad bonus, a lot of BS reasons

I don’t respect the management

Worked my butt off this year. Lowest raise and bonus ever received. My raise was well below inflation. This means I do less next year. You get what you put in.

@j7 Gifted? But are you more "gifted" than a 3rd worlder who can work for 10% of your salary? I don't get the "none of your business"comment considering this is a 100% voluntary thread. But thanks for sharing with us how wonderful you are. I look forward to the golden statue of you being installed in front of HP this spring.

@m4 which regions/countries are doing well in GD? Org wide we’ve heard about outflows but I’m assuming there are places that are winning and that translates to better bonuses

@kk It is deserved. Within Global Distribution.

@kg that’s nice of you. Which division are you in you don’t mind me asking?

@jw Paying vast majority of my team around target, some higher and up on last year. Requested some extra $ to boost a few higher performers/high potentials. Talented people have been taken care of; those with a more modest future still did well, but wil not be here in 2 years. Overall, a good year. If you perform well, you still get paid here.

How much less than target bonus are folk getting? I’m assuming some high performers are getting higher than target but given the state of TRP most people will be getting less?

@j7 Gifted? What a bizarre take.

We supposedly pay for performance. So if you're performing then your bonus is not a gift or generosity. There's nothing entitled about taking anticipated bonuses into account as part of total compensation when taking a position at T. Rowe.

The max base pay is something like $350k USD. Do you think management committee views their massive (mostly bonus and stock) pay packets as gifted?

Frankly it’s none of your business. I’ve never worked anywhere before where I’ve gotten bonuses like this. I work hard, I’m personally invested in my work and team and the difference it makes. It is recognized enough that I feel fully acknowledged and appreciated. My bonuses reflect that and I’m always stunned by what I’m gifted, A lot of companies only pay a salary and a merit increase so I do not sh-t on or compare the generosity of my bonus, I’m grateful for the expression of thanks by my leadership and I’ve never felt that it is lower than my level of effort. Some of you seem very entitled as if just showing up and hating on your company should be rewarded. In this job market you are still employed isn’t that enough given the circumstances.

Org Area: TDO/GIO
Level Category: mid
Salary Bucket: 125–150k
Merit Vibe: low
Bonus Range: teens

Bonus and merit were the exact same dollar amount as last year which means a lower % than last year.

Merit well below the COLA. Not surprised and I guess considering everything else going on thankful to get anything.

Distribution. Mid level. Low pay rise, below inflation. Bonus slightly below target. Both lowest % I’ve had during my tenure. Not unexpected considering current state however I am still losing $ while being asked to do more, take more responsibility, pick up slack, come to the office more. Time to set some boundaries

@cg I can only speak for my area. I don't know what the overall is. Most of the outflows are USI, again.

@cf Distribution should have less bonus overall with all the outflows. Which country? Some countries have done really well.

@OP As a group leader, I can say that for my area most people are up on the year - some significantly. Distribution.

@bs In other words, how was your “merit” increase this year? Also, yes! Percent for bonus and if that’s on par with prior cycles. Happy thanksgiving, everyone!

@OP What does the Merit Vibe mean? And also is Bonus range in % or dollars?

My area doesn’t usually communicate comp details until mid December. FWIW leadership in my area did tell us that the bonus pool was funded at the same level as last year. Obviously individual amounts will depend on performance.

@OP by bonus I’m guessing you mean % and not absolute $k right?