cross post from fish bowl: Standard raises of 3% unless you got a promotion for those under 100k. Anyone over 100k no raises. Of course that will not include senior leaders who received 8% raises last year while the rest of us got 0%.
24 replies (most recent on top)
The below comment makes total sense. No raises over 100k cause it’s cost control. Isolate those variables and they have a concrete cap for the payout pool when they axe everyone.
Same goes for switching to “unlimited pto” right before they started laying off and selling people. They got rid of the liability of having to payout anything when they cut people/sell people/or drive people out. They’ve been planning this for years. It’s the long game to devalue the company internally, cut liabilities, and sell to Chase.
Call me a pessimist if you will, but I think one reason that they’re not giving raises to people over $100,000 but only those under that number is to get people more in line with a closer and “lower” minimum starting salary company wide to make hiring Frisco easier, but also…
According the o the current severance policy folks that make over $100,000 get various multipliers at different tiers additional to the standard companywide two weeks for every year. Maybe they want to change that language to start at say $150K or something before giving final relocation/severance offers to Denver. Thus someone who’s been here 10 years at $100k will only get 20 weeks instead of 30 weeks (numbers vary based on tenure/salary ranges). Basically to have the multiplier be the same where they make $60k or $149k for “equality” and cost savings for the firm. Just my 2 cents.
All because they know that maybe 10% of Denver will move to Frisco and that’s an overestimate, probably only 4 or 5% actually will relocate.
When you work for a big company, that company owns you. Yes, you can quit. But in the sense that they and they alone determine your pay, your benefits, your raised, your vacation time, your work schedule etc., they own you! Go start a business or get a sales job and learn what freedom is and what it actually means to you. You may very well make less, especially in the short term, but for most people, that trade-off is worth. For a few it won’t be. But you owe it to yourself to at least experience freedom in your employment. I’ve seen both sides and I’ll never go back.
T hasn’t received a base pay raise since she started.
The reason 2022 is different from 2021 is because she only worked a partial year in 2021. That’s when she became CEO. So obviously you will make more money the following year when you work a full year. Common sense.
Besides that she gets paid very well for sub par results.
As we move into rating season, do not discount the directives to keep 4's and 5's to a minimum to justify not giving a raise and the employees in line. When you get your 3 ask your leader if they fought for your 4 and undoubtedly they will say they were overruled.
Leadership moved to a new rating system for 2025 that will make it easier to keep the masses inline
@x0+1jgya51me lol you can’t read. No wonder this company is in the toilet. Comp disclosures state in 2021 CEO base was 634,615 and 2022 it was 1,000,000. Bonus went from 3,467,000 to 6,600,000.
CEO hasn't had a salary increase. Ever. So youre comparing EC bonus increases to rank and file salary increases.
Seriously, learn something before posting stupid posts.
@vd+1jgya51me I bet you’re the life of any party.
And to just add some data that you’ll clearly ignore, the average annual CPI from 1913 through 2024 is 2.7%. We can look at since 1970 and it’s 3.2%. Oh, let me look since 2017 to ensure statistical significance…2.6%. Clearly, 3% isn’t “too much”.
Please take your own advice as you’re evidently uneducated and/or incompetent…or a member of the EC…and leave.
@vd+1jgya51me clearly baiting for someone to post names so this will get taken down since HR and legal watch closely. just look at that cyber post which called out their chief incompetence getting taken down for just having initials.
We will have to wait for the 2024 to be public. The ones posted have 27%, another is 7%, another is 19%, another had a 684% and 7%, dear leader has a 57% and 0% 2022-2023. I bet anyone would gladly take 0% after getting a 57% increase.
You are seriously going to defend those numbers vs the general employee actually doing the day-to-day? Take a seat and stop boot licking
Looked thru the online disclosure...the EC didn't get 8% salary increases. The whole EC isn't even disclosed. What are all talking about?
And for all the people who had ChatGPT explain to them the nominal value of their comp during high inflation, ask ChatGPT what it means when the company gave you 3+ % raises when inflation was non-existant... I don't remember anyone saying they were getting too much.
You people are really uneducated. Please leave the company. People like you add nothing and are wasting bonus dollars the competent employees should be getting.
To the poster below that doesn’t realize the difference between nominal and real wages you do realize that $200k today doesn’t have the same buying power as $200k a year ago? Two years ago? Not getting a raise that matches inflation means it actually costs you money in real dollar terms to work for this “prestigious” organization. No one is claiming poverty. It Doesn’t matter if you make 50k or 200k. We should all be paid for the value we bring, and I guarantee the people “complaining” are probably some of the most valuable here. So continue to troll…or maybe you are that ignorant.
The EC “raises” is a part of the public comp disclosures posted one TIAA website. Unless you’ve been living under a rock, it’s been posted and talked about here and on the “bowl of fishes” ad nauseam the past few years.
When inflation has tripled and housing and food costs insane never mind recreation the $200k is more like making $75k but it just isn’t enough. And the bonus plan would help except for those damn handcuffs and how they sc--w with the ratings. So unless you live in your mothers basement $200k means little.
Where's the evidence of this 8% increase for executives? Cause I haven't seen any for 3 years.
Find it hard to believe a company whwre average comp is probably close to $200k (even ignoring the EC) has people who can't afford to live. Either you spend too much or you're just being dramatic because your salary hasn't gone up.
Also curious how many pleading poverty will also say their bonus hasn't gone up at all in the last 3-4 years.
Give me all the thumbs down you want , yall know it's true.
some smart people whoever is staying in record keeping will definitely get some money in some(raise/bonus/loyalty bonus/longterm bonus) form. They are the key people company need, so company will honor them.
At this point I can’t afford to keep this job between the 3 minimum commute and lack of raises the last few years but a “promise” of one next year.
I would give up my bonus to watch the Executive level do my job or other jobs of us “peons” without them being able to use google for solutions. They wouldn’t last 1 hour let alone one whole day.
But they make hundreds to my nickels and they give raises to themselves and those making pennies (who should be making nickels). Don’t get me wrong I hate public speaking and probably couldn’t do their job all the time but I would do my best in that moment and not forget where I came from to help ensure the levels that do the actual work get paid enough to live day to day and through retirement.
The parent is unprofitable. The subsidiaries are highly profitable. Look at Nuveen.
why would they provide raises to employees of a dying, unprofitable company with an unsustainable business model? Its dot org, not dot Gov
Senior leaders are the only ones with the ability to “get their paper right” while the worker bees keep getting squeezed. Cost of living continues to rise yet we get 0% increases.
CPI has grown 13%, cumulatively, since 2022 while the vast majority of us have seen 0% wage growth. No wonder those of us “middle classers” are feeling pinched. The wealth gap keeps widening
How ironic TIAA is asking us to live on less while marketing “lifetime income” as a saving grace for future retirees.
@ak+1jgya51me So 2.9 pay decrease for 2024 plus the one from 2022 and 2023.
So basically a 10% pay decrease for the majority of workers while everyone at the top got 8% each year for the last 3 years. And those under $100K are still barely scraping by with their minimal pay raises. Seems fair. (Sarcasm)
But @a4+1jgya51me, don’t forget, retirement is for all according to the company. Well, unless you work or worked here
The CPI for 2024 was about 2.9% for 2024 so far. That means employees are taking a pay decrease of at least 2.9% not a 0% raise.
Wow… completely opposite of what I’ve been hearing from leadership saying. So if what the OP is saying is true, I’m gone March 1st.
No raises in 3 years (soon to be 4) and many of us can’t even afford to live life let alone save for retirement. Don’t get me started on the pointless extra expense of going into the office to talk to no one about work, only sports and vacation bs. Temu CEO, Wish EVPs, and other Senior leaders need to think twice and choose to redistribute their bonuses and raises wealth to the folks who actually do the work in this company.