The bank is now actively reclassifying lower roles to higher roles without any financial compensation. They are compressing wages down for the same or more work. Be mindful of your job role, your compensation range will go down.
This evil corporation expects us to work harder for no actual gain to ourselves?
I feel they give employees a higher position without the added pay in an effort to “help” with attrition. An employee might not leave based on their current role they’ve been in for a while, but when you incentivize them with a “higher” position, they might be more apt and feel empowered to start looking for a new job knowing this higher position could help the employee land a new job (externally) at a higher income…just my 2 cents.
I got a higher title with no increase in salary but more responsibility and expectations added- my mid year was brutal
Post ID: @az+1k321fk6d bc i’m under the minimum. two weeks ago the minimum was 120k now that same role minimum is 139k
I am just thinking of all these Sr. Lead roles that will be replaced by AI GenAI.
@af , why do you assume there are individuals any under these new minimums?
How do you know what your salary range is?
Post ID: @am+1k321fk6d cries in not over here!!! I wish this were my case now i’m no longer even in my pay range, but I still owe them a 60 day notice to even leave for more money,
most of the sr leads I know are making north of 200k
Post ID: @aj+1k321fk6d while this is true those roles have been consolidated. the issue is you have people that are making 144 as a senior lead risk and new hires with the same exact same job title will be brought in at 185k for the same exact role and function and pay band. same way senior lead consultants were 120k and now it’s 139k
the p level doesn't define the salary, the comp grade does. a senior lead analytics consultant has always had lower comp grade than a sr lead risk analytics consultant. nothing to see here. works this way across the board, there are job families where a one has a higher salary range than a p5 in another.
P5 roles are now starting off at 139k and those same role functions under risk are now 185k. HR is not giving any additional compensation to employees that are already classified as these roles. Previously these roles were at 120k and 144k. I’d assume countless of employees way below the 19k and 21k differences, but newly hired will be highly compensated.
Well, if you're still in the range, what's the problem? Seems people are getting higher titles without a promotion?
every few years they go through these exercises.