Has anyone heard any rumors related to 2025 bonus pool? There are a ton of meetings related to reductions of budgets, almost like a last minute scramble to cut costs. Maybe we should have subleased Frisco and ramped up remote work?
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Meanwhile I hear wealth advisors get high mid six figure bonuses!!!
If it makes anyone feel better …my Denver end date is soon and I won’t be part of the bonus pool… so maybe a little more for everyone else?…
idk I’m a little sour by it but glad I don’t have to be here anymore. This place has gone downhill faster in 5 years than the entire 100+ years before it. And TIAA survived a Great Depression a world war…
@rv If it makes everyone feel better, I make a lot less than T and Roger.
Bonuses will be paid. However not sure how generous. Hearing that if you are near top of salary scale , for your position, you may get squeezed. With inflation last few years most are still playing catch-up....
@rv BS. Roger's base pay was no more than $5M. But then again, it was only $5M.
T makes less than what Roger did prior to when he left. Roger was very well paid. You can look these numbers up.
@jq $500K-$1.25M+/- w/several escalator clauses according to contracts disclosed
@en what is the max bonus formula for the EC and members of the Board ? Bet you that no one can find that information anywhere.
@em TIAA has been in Texas over 15 years...just moved to another location so jobs could be moved from Denver and Charlotte
@ds I thought the max bonus for most will be 15%--18% of base. Does that sound correct for 2026 or did I read it wrong ?
@cn TIAA was myopic in its zeal to move to Texas post pandemic, post Covid, new world of remote work. It was a reactionary and thoughtless move that will cost hundreds of millions in the medium term.
@ds The September 2024 email clearly said the new rating scale is for the 2025 Performance Cycle.
@ds… what?!? It’s for bonus payout in 2026.
Why would they tell us over a year in advance of the change. I mean the Denver closer made sense to be told almost 2 years in advance for most since talking 1200 people at the time..
Can you read??? Nah but it is either that or maybe some of us are in a pilot program like all the other past HR goals and other things. But everywhere I’ve looked it’s effective this VC cycle.
@a4 The new rating scale is for 2026 performance...2025 is still based on the old scale
@cm wow. If that is true then closing the office makes less and less sense. The ELC is absolutely clueless. But since the owner of the building went into default who is TIAA gonna pay that buyout too? And how much?
Because the buyout would be almost as much money as the lease was which makes it an atrocious decision to end it early given how much was paid in relocation and to be paid in severance benefits.
I heard some were offered extensions in October and probably future waves will be offered them soon too. So pointless. So much waste of money, talent, and patience. The poor Denver associates being dragged along for over a year many up to 2 years soon to be more. Must be difficult for them to have to be strung along then offered extensions.
TIAA would have saved a ton of money if they kept the original lease date.
@br I also heard Denver has another big expense as TIAA will have to buyout the rest of the lease on the building so another big $$ expense.
@a4 I’m Denver and agree with you there. I fear our bonuses will be lower than other sites and years past possibly less than target regardless of our rating so they don’t have to pay us even more (25%-50% of that bonus) via severance.
All the $$ is going to Accenture, FIS, Jerry Jones (Cowboys Owner in Frisco), shutting down Jacksonville and Denver and getting out of those leases, healthcare expenses, rising net outflows and general account depletion along with paying Brown Duckett's $18,000,000.00
Keep in mind, cost overruns in Frisco were the big k-i-l-l-er of the bonus pool for this year. This is alarming considering the record stock market close and the market performance in the past 2 yrs. Health insurance premiums were a big impact too.
If "T" was paid at Roger's level $5M instead of $18M, there would be more bonus $$ to go around to pay the worker bees
Hearing a smaller pool than last year. Also doesn’t help that they changed the rating scale 5 to 4 levels making that amount even smaller.
I honestly think we should consider ourselves lucky to get our target VC percentage. Heck Denver folks may not even get their target %.