So I guess this is my first taste of corporate life. Getting no merit increase because of a promotion.
Schwab really does know how to take care of their employees.
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Your Hiring manager was supposed to factor a merit into your offer if you were promoted during the pay planning window. If they didn’t, that’s a conversation to take up with them directly.
promoted, in my eyes exceeded in new role, but was given met due to being promoted
Dealing with the something similar but no promo and was laterally moved to a different BU and team. Is there any grounds for leverage with getting the new direct report to initiate a review of compensation?
I believe after a certain date every year, if you get a promotion they "cook in" your merit raise. It was very transparent to me in the process when I went through it years ago; they said it was to reduce redundant processes/paperwork.
I did once have a Director who believed "no one who has worked a job for 12 months or less can be exceeding" in their bonus. That one su-ked.
It all depends on your PL and their leader. I got promoted last year and still got a merit increase.
@OP they are doing everything in their power this year to avoid giving increases and bonuses. They have to make people mad enough to leave to avoid a big layoff. There are many of us ready to go but we want our packages!!