Is it just me, or are bonuses and raises well below market?
15 replies (most recent on top)
I should also note - wages are also down everywhere right now. If you came in at a comfortable salary at US Bank, be prepared for shock at wage offerings if you get back into the current market. Late stage capitalism at its finest…
@pj I hated working for US Bank, believe me I do. I was treated terribly during my tenure. But after they laid me off into this abhorrent job market, I did realize they do some things well compared to other companies. The culture is absolutely toxic, but this hiring market is extremely ugly and US Bank is far from the only company cutting benefits right now. I’d be pi---d if I was there and they dinged my raise, bonus, pension, LTI too. Believe me I would. However, it’s all relative and if you think benefits and pay are better elsewhere….they might be in a good market, but this one ain’t it. Take all their money while you can, because it’s tough to get all the benefits US Bank was offering elsewhere. Not a threat or a put down, just the truth.
@ph So what? That's like saying 'Be thankful you only get slapped in the face every day, other people get punched.'
We can recognize a difference in compensation across the industry AND recognize that the company is shafting their employees. Unfair is unfair.
It depends on your grade and the salary you came in on, but y’all are crazy if you think you’ll easily find better benefits, LTI, bonus, pension etc elsewhere. Maybe with a move into another top 5 bank you’ll find better, but good luck in other industries. I know US Bank su-ks, truly I do, but total compensation wise, some of you are doing very very well there, if without your annual raise. Don’t believe me? Start looking for jobs right now and see how it goes for you.
A little late to this party? All of this commentary took place around bonus time. Personally, I got 100% bonus, no raise for the second year in a row stating I get paid too much and then 75% of LTI..
3% Increase
9.3% Bonus
Meaningful performance, despite going above and beyond week after month after year. That is a thing of the past. I've been with the company almost 20 years and this last annual review broke my give-a-damn.
You can only go so far when your direct manager is incapable of recognizing effort or its value and thinks that any function you perform is BAU because it's completed during work hours to get the job done.
That being said, Elavon pays more than USB (or has, historically) in terms of wage, merit, and bonus, though recognition beyond the occasional "thanks" is nearly non-existent.
In 20+ years, they have never been as high as in other industries. Maybe I just su-k at my job 🫠
Like others I can only speak for myself:
~1.5% merit
~12% bonus
~75% LTI
10+ years, they just don't pay market. The offer letters you get are to get you accept the job.
@OP USB goal is to pay us just enough not to have mass resignations, but not enough to be considered average. Terrible place to work.
@b7 for...what? We don't get raises and bonuses in May
I can only speak for myself:
Meaningful performance.
1.5% pay increase
90% bonus
80% LTI
friday or monday is the day I hear
Just wait til early 27 when they use whatever RTO stats as an excuse to ding you on any comp.
No raise for meaningful performance because I am at 110% so their excuse out of the blue this year was not pay for performance. They should have communicated that on January 2025 so I would not break my back all year just to get a slap in the face. Yes it is way below average. Bonuses honestly should be higher as well but this is where we are with Gunjan.
I can only speak for myself
Raises slightly above normal.
Bonus at 110%