Am I reading right? I guy who makes more than 10 million a year USD offers 6.5k USD as a means to homeownership in the US?
Dear BNY employees who are eligible: how do you feel on that initiative?
18 replies (most recent on top)
@sr Prople Team agitators -please go away, Once again, you add no value!
No one can afford a house these days anyway so this really doesn't effect anyone.
Now, a 6500 increase to my salary I would accept.
@sr you are a mo--n. Go back to your mommys basement
@sr
Your posts show that you are clearly in agony.
Here is the cure- have your husband rub
Preparation “H” all over your swollen body.
@m7 No one is begging to be here - Why are you just wasting your time here - Move on.
Seems like you cannot find another gig with your skill set. May be RV should cut your pay and you will still be here - no one wants to hire you !
pay people what they're worth in helping you make your 10 million. While they didn't "have" to do it, it's not exactly generous in the grand scheme of things.
It’s like bragging about paying for people’s masters programs that benefit a few as they cut benefits and positions that affect the masses. But some people are a d-mb enough to applaud it… Much like the “free coffee.”
@f1
$6500 and helping a lot? ‘They didn’t have to do this’? ‘ how do we spin as a negative?’?
You really have no idea how dim witted you sound. First, this hardly qualifies as a benefit. Why? Because the salary levels for it are really low even for Pittsburgh. Second, anyone making this lower amount of salary won’t be able to afford a home, taxes, living expenses just on that income to begin with. Third, you need to have a look at real estate prices even around Pittsburgh and see what are the going prices for desirable homes now- hint: $200k aint it anywhere. Lastly the Bank with its RTO and extremely poor raises have actually blasted people’s budgets into shelling out more than $6500 a year in any case( mass transit, commuting, gas, lunches - snacks, tolls , parking, insurance). And that’s just costs for the beauty of going into the office. This can hardly be called a good thing when it doesnt make up for the cost of living and that only precious few can qualify. And honestly? Anyone working at BNY would be ill advised to take on a huge debt like a mortgage under this unstable, unsafe , toxic regime. Especially when BNY is going to move to cheaper growth centers out of the Northeast and PA. This is yet another ‘fools gold’ benefit proclamation to make Robin look like he is benevolent.
And he isn’t. And he never was.
They didn’t have to offer this, idk how you all spin it as a negative. It’s not supposed to make a huge dent in the overall purchase price as much as it will help with pulling a down payment together, which for many people is the hardest part of actually buying a home. You might be able to afford the mortgage payments but it’s hard to scrape together 10-20% of the overall price in cash, unless someone is giving it to you.
Further, yes if you’re working in NYC office or another market center, you probably don’t qualify due to higher salary and the home prices are really high so this would make less of a dent anyway. But I know a lot of you here are based in PGH and that market has a lot of $150-400K homes, and plenty of BNY employees making well below $100k. If that person wants to buy a $200k home and is targeting a 10% down payment ($20k) on maybe a $60k salary, this $6500 would help a ton in getting to that 10%.
I don’t qualify and could certainly also use help with a down payment, but I’m still happy that there are others who likely are having a harder time trying to purchase than I am that might benefit from this.
I’d rather that as a raise.
What do you want the firm to provide you - 650,000 ?
Wow! With median home prices in the northeast close to a million USD, this is an extremely generous offer from a company that awards 2 shares as an annual employee merit increase. RV is turning circus tricks again before setting the trap door for upcoming May layoffs.
The best part is if they decide to cut your job or you leave, they can require you to pay this back to them if you do take it. The same way they did this to the remote workers who were cut and utilized bny's nice amenities for their employees. Make sure you read the fine print before signing up on this.
Only for first time home buyers?? How about those who lived below means to afford mortgage payments? I say just flat fixed amount bonus to everyone to use for their homes seems a fair goodwill gesture...
It's a good press release and a good opportunity to get the CEOs on TV. Helps very few employees and costs BNY very little. They made there money back 100x over in free press.
It's an embarrassment and a slap in the face.
Instead of this, how about you actually pay your people more?!
I’m almost 50 and can’t afford a first home.
Most employees will be right around that 100k salary so won’t qualify anyway.
after tax you get like 3k. barely covers closing costs or the lawyer retainment