Anyone with any real info on this year's merit increase and/or bonus pool? Know they released the TCP but it Don't get to my level [avp] until next week.
I would like to think at how well the economy as a whole did, they have run out of excuses for not giving us a decent piece of the pie.
@RcB2VLz-iwya You misread my post. I was responding to @RcB2VLz-hdyz who posted above about people earning $65,000, etc. Most long time employees not just State Street aren't in the same position for their entire career and have advanced training. At 40-50 years old you still have many years in the work force unless you have a spouse or significant other who is very successful or wealthy or both.
@Post ID: @RcB2VLz-iuxk
Your post is rather insulting about people doing the same job for 20+ years.
I know people who are computer programmers and network specialist, database admins who
enjoy the field they have chosen..
And being a computer programmer and a person who works with computer networks.
Means you are constantly updating your skillset on the lastest computer languages , the lastest
advances in computer networks.
@RcB2VLz-hdyz Quoting: I think most SSB Employees need to realize getting a 5% increase every year to do the same job you have been doing for a decade plus is unrealistic and bad for business.
Who is doing the same job for a decade? Many who work/worked at State Street made lateral moves or got promoted. I don't know many educated persons who would be challenged or happy to do the same job for more than a few years. It isn't the lack of experience or knowledge but the outsourcing that is ruining the opportunities for many at State Street and other financial organizations. Somebody who just graduated from college may be educated but doesn't have the same work ethic or background that many of the more experienced workers do. Anyone can learn advanced excel skills but that isn't the problem. Just my take on the current work situation at State Street.
I think most SSB Employees need to realize getting a 5% increase every year to do the same job you have been doing for a decade plus is unrealistic and bad for business.
Why pay a quasi disgtuntled 40-50 year old 65K a year with 5 weeks of vacation, who knows nothing more about computers outside of the 3-4 macros they run a week when you can hire some fresh blood out of college who knows tableau or something modern for 35-40K to start.
Be happy to get a 1.5-2.5% raise this year and maybe a 10% higher bonus than the average of your last 3.
If you think the grass is greener feel free to hop the fence.
Bonuses and Raises should be given out based on your skills and your performance.
I have no problem with a hard worker getting a 10% bonus and say a 5% raise.
Some Bosses follow the above way of thinking.
But I do not believe in giving everyone the same percentage just to try and keep everyone happy
@RcB2VLz-fjdg - I'm in ISA
@RcB2VLz-cjwo - what department you in? We just merged with a cost center who all make less than us and I was told our merit/bonuses wouldn't be as good as theirs because they wanted to even everyone out. I think it's a load of crap.
My new VP told us not to talk about it with our new colleagues or their managers.
Hey thanks for the insight
Bonuses appeared to be up 10% from last year, Salary increases were targeted at individuals. Everyone else got 1%. Everyone in my team was low to mid range on salary and total compensation.
People I remember a time when for 3 years the company did not give out raises or bonuses
I can tell you many many dark stories , how they were so desperate to save money.
For 18 months the outdoor fountain was shut off
Well at least we’ll have a tax cut that should help ease the pain that STT is profoundly greedy giving to shareholders only and not stakeholders. Disgraceful.
2%? Wow that’s peanuts, doesn’t cover anything. I guess 2% of a $15,000,000.00 salary sure sounds pretty good though. All in perspective I guess
As a former slave, remember the famous saying from Mgmt.
Be grateful you still have a job
Be grateful I can easily bring in 20 possible people to replace you
Word is out up to a 2 percent raise with no change to bonus. Sad considering everything going on and working on average 10 plus hours a day.
Yes but never complain to your boss about the low quality being done by India or face being put on the trouble maker list.
I know the workers in the U.S who did survive , are very upset at having to spend 75% of their time
having to fix all the mistakes made by outsourcing.
Especially when your on the phone with your Indian counterpart trying to explain and send emails as to what they did wrong.
When everything was done in the U.S we had to have a quality mistake free rating of 90% .
Now the quality of the work is around 50% to 60%.
I was just coming in to ask if anyone has heard. We can only hope that State Street can share the wealth with the employees that actually do the work. We’re quality employees we deserve a living wage and raise.
The next excuse is quality to the client is down because of all the outsourcing overseas. So they save money by outsourcing but the quality is poor and bonuses are dependent of how high your quality is.
Easy the excuse for no raises or bonuses will be, they need to invest in new equipment to grow the company.
Discarded worker of 28 years victim to H1-B worker who took my job