Like the title says. This new annual review sounded good at first. Make everyone's the same in February for simplicity. However it's tanking most employees' performance raise. Our leaders said that it's pro-rated from your last. So that would mean unless your last review was February 2025, we will get shorted. My review was August, so i guess I'll only get like a 1.5% instead of 4%. So COL in STL has been going up along with everything else, and the firm won't even pay us an appropriate annual raise. Not too mention Human Capital's refusal to update the salary/position grades and proceed with market adjustments (which were promised 5 years ago). They have only done it for their area. I have 6 security licenses, CFP, working on CFA, and a HR generalist makes as much.
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@OP , I can't stand these objectives for annual/bonus write ups. Anyone else think the objectives are nuts?
Salary grades are updated every year and Jones doesn’t do market adjustments. You’ll never make as much money here as you could going somewhere else, it’s a low pay firm.
Yes, the 9 month review was a nice way to try to get salary increases a little early. Now that’s no more with 12 month for all.
@OP you are essentially getting the same. You said your last review was in August. Well you are getting a smaller percentage sure (pro-rated) but you are getting it 6 months early. So that’s 6 months extra. Over the second 1/2 of your annual it might seem less due to 4% not being full year but 2% in Feb is essentially same amount.
Yep. Any they promised better pay was coming like two years ago that never showed up. Staying at EJ at your own will. You will make less and less over the years once you adjust for inflation.
@OP for real though, why does this place insist on making it known that they hate the people who make it function? I thought that type of arrogant management mindset died out in the 80s on wall street. We talk about trying to move into the future but everything we are doing is 3 steps backwards for people who work here. Only people happy are a select group of GPs and higher ups who think this ponzi scheme setup is going last. Or, they are trying to destroy the company as fast as possible to make the merger easier to swallow/sell to the rubes.
My pre er leader was adamant about keeping us on a 9 month annual schedule because it was an open secret we were / are underpaid compared to industry. "Exceeds expectations" were rare but a "meets" every 9 months was nice.
Im trying so hard to get out