I heard people are being told about their bonuses, merit increases and promotions in March and it will take effect in July. Is that true? Please share any information you have or your experience if you got this update.
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@db the matching 401k was paid on 2/23. Check your account the Contribution says Employer Match. If you haven't gotten yours than you should call Fidelity.
BONUS! WHAT BONUS! My 401k Match was deposited by FIS just prior to last payday. I received my merit increase email yesterday, it was the most that I have ever gotten at FIS. But it will not be effective until I think July 15th or August 1st.
@b9 That is not always the case. Prior to Stephanie's involvement, it was effective in April.
@da the timing of bonuses are accounting slight of hand tricks: publish at the end of the first quarter, pay out in the third quarter. It's playing games with the balance sheet. Don't forget that the 401k match isn't paid out until the end of the first quarter at the latest. Does anyone doubt that it will be one minute before the deadline of 03/31/2026 for those employed on 12/31/2025? It's all a shell game. You can bet that the executives do not wait for their matches/bonuses/pay increases/stock options to be posted to their accounts.
@ba yes. I am front line. Never get any bonuses. I was notified I will be getting a merit increase in July. What happens between now and then, or after, is anyone's guess.
@d8 executive compensation is completely different. Let's use Bill Gates when heading Microsoft as an example. He was paid around $400,000.00 a year in salary, it is the bonuses and stock options that boost C suite salaries into the millions. That is how they are compensated, allegedly based on performance. The board decides on their bonus structure. Given that, how are Stephanie and Bob compensated at around $25,000,000 per year total compensation when the company performance (see the stock price) so poor? In addition, their contracts include the use of private planes and other perks. It is about negotiation at the beginning of their employment.
Do the C level get the same 2 or 3 % increase every year or is it more ? I have never heard of any bonuses for the regular staff.
I'm the first to say there are issues in FIS. However, as a 20+ year employee, the process is the same as it has always been with the exception of raise effective dates being moved from April to July during the Covid dark ages. This was obviously done at the time to defer the expense and to possibly save jobs. I think that was under Norcross, I can't recall. As to raise amounts, they have always been a pool amount and have always ranged from 2.5 to 3.75 percent. Not sure who knows that the comp team filled them out. I myself in the past had taken an amount from one team member that was under performing and added to one that was with no issue. Don't see why that would have changed unless you are exceeding the pool amount allotment. As to promotions, it has been stated prior that they were changing the culture to not having promotions done on a schedule. Your manager always has the right to request, not guaranteed, a promotion or additional raise or bonus as will.
I am more concerned with our stock price, the advent of AI to do our jobs and the off shoring of US talent. If we get acquired due to the stock depreciation making us an acquisition target, our 2.x-3.x raises are the least of any issues that will be discussed here and jobs are leaving due to the other two daily.
Frontline staff does not get bonuses. Consider yourself lucky if you are getting one at all. Those producing the results for their clients are excluded from the rewards. Explain that.
FIS has always handled merit increases this way: notified in March, effective in July. It's not like you need the money for increasing gas prices or groceries, is it? Did you need new tires for your car or braces for a child? Those will all have to wait. If only you had allocated your expenses better, this would not be problem. After all, it's not affecting Bob, so why should it affect you?
@OP I was told no promotions. My team for merit ranged from 2.5% to 3.5% that’s all that was allocated in the allocation set by the people office. Bob’s compensation team pre filled the amounts and did not let managers go any higher, the system restricted this as a manager we have zero autonomy and empowerment. Bonuses are paid next pay check if on a plan and merit starts 7/1.