Or is my manager just gaslighting me?
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The POST was GOOD ENOUGH for You to READ!
LOLOLOLOLOL!
@1hp Just advice to those reading - when someone randomly capitalizes words that don't require capitalization, you can just assume they're spiteful ramblings devoid of actual fact. Makes it very easy to recognize this person across the Citi board - simple pattern: posts about incompetence, criminal behavior, throws out wild cost / headcount numbers, never actually contributes information just winds you all up, random capitalization, and the grammar of a drunk first gen AI model.
Citi and other struggling financially Companies move goal posts and keep raising the bar just to give employees the false hopes that maybe one day, some day the employees will get In-Seat promoted.
Citi uses the excuse that the employees didn't meet or beat the expectations for an In-seat promotion because Citi can only afford to promote less than 5% of employees who are eligible for or seeking promotions each year.
Why do Citi and other Broke AS$ Poor Companies do the above??
Citi does it to string along employees, prevent or delay for as long as possible, their best employees who were passed over for In-seat promotion, Rated 1s/2s and even Rated 2s/3s from Quitting and leaving Citi.
It may take employees time to finally land a New External job, but they're secretly or not so secretly interviewing and have one foot out the door.
NO company in their right mind wants to lose even Rated 2s/3s employees because these employees are still very good at their jobs.
It takes time to break in a New Hire, including Internal Transfers. It also takes time to become a Subject Matter Expert. All of which affect profits and operational efficiency, Or Lack Thereof.
And so, the Citi Dysfunction Cycle continues until....the inevitable RRP Bankruptcy.
The Employees who remain at Citi are the ones Citi actually does Not want.....the mediocre/average who continue the endless cycle of Fvck Ups, Errors, bad managers, bad policies, operational inefficiencies, accidentally wiring Hundreds of Millions or even Trillions of US$$ to the Wrong recipients every few months, Consent Orders, MRIAs, ad infinitum.
A Citi Director did this.
He was with Citi for about 15 years, got promoted In-Seat to SVP within the first 5 years.
It took Citi 10 years to In-Seat promote him to Director.
He must have finally woken up and realized Fvck This Sh!t because he was a Director for only 6 months until he Quit to go to a competitor as an MD. LOL!
He didn't want to wait at Citi another 5, 10 or more years or Never to get In-Seat promoted to MD.
And so, Citi would rather lose its best employees to QUITTING for an EXTERNAL NEW Company because Citi is too Broke, Financially struggling to afford more IN-Seat promotions.
Citi already has Low Calibre employees compared to its envied competitors.
The best employees at Citi are Low Calibre at the Real Banks, or at most mediocre/average.
The employees who end up staying at Citi are the ones Citi and the Real Banks do NOT want.
This is one reason why Citi can NOT get off the vicious cycle Merri-Go-Round of having Incompetent employees and Bad "Managers" (including but NOT limited to TR, AS, CEO Jane, etc.) who continue the vicious cycle of Errors, Consent Orders, Operational Fvck Ups, Mismanagement, etc. ad infinitum All of which affect Citi's inability to increase profits and inability to get out of its Wall Street Pariah H3LL Hole.
The above is in addition to Citi's Stone Age Spaghetti "Technology" that also Fvck Up the company Every Single Day!
If Citi ideally wants to IN-Seat promote 30% to 40% of its employee population like Citi did pre-2021, but instead can only afford less than 5%, approximately half of the passed-over for promotion 15% to 20% will QUIT and leave Citi.
It may take the 15% to 20% employees time to finally land a New External job, but they're secretly or not so secretly interviewing and have one foot out the door
The 35% may Not be all Rated 1s and 2s, and some may be Rated 2s/3s, but NO company in their right mind wants to lose even Rated 2s/3s employees because these employees are still very good at their jobs.
It takes time to break in a New Hire, including Internal Transfers. It also takes time to become a Subject Matter Expert. All of which affect profits and operational efficiency, Or Lack Thereof.
And so, the Citi cycle of Dysfunction continues until....the inevitable RRP Bankruptcy.
@nz I was trying to get an in seat promotion and was told the increase is not the same as a new job in another group. 5%-8% is not worth it for more work
Some of us may still be here Only because we have One Foot Out the Door, while we interview.
Employees have basically checked out, doing the bare minimum work, Not divulging trade secrets, Not volunteering for extra work, etc. and we're only cashing Citi's paychecks until we either get laidoff Or land a real job.
Everyone uses everyone. And employees are using Citi until we finally GTFO Get the Fvck Out.
Some of yall need RIFd. Your business intelligence is next to ZERO. Pathetic moaning. If it is so much better pay elsewhere then why are you still here? You either can't get that job, you are full of BS, or you are typical boomer waiting for retirment.
Citi DID put a cap, maximum on salary increases if you move up one level, example: AVP to VP, VP to SVP, SVP To Director etc.
Those Internal New Jobs, transfers to New Departments/Team/Group used to give out 20% salary increases before year 2022.
But since Citi is a penurious mendicant, Citi reduced that to 15% and now 10%.
Only financially unstable employers do this. 10% is a slap 👋 in the face insult.
@j0 last year, I was on a leadership call with our HR business partners. We were told we are no longer allowed to give an individual a salary increase if they are staying in the same job grade level. I feel like they put a cap on percentage of possible increase if you do move up. I just can’t remember the amount.
Those Internal New Jobs, transfers to New Departments/Team/Group used to give out 20% salary increases before year 2022.
But since Citi is a penurious mendicant, Citi reduced that to 15% and now 10%.
Only financially unstable employers do this.
These nickle and diming games drive out to Quit the best employees who can land external new jobs outside of Citi faster than the average or below average workers.
The standard for getting a New Job is at least a 20% salary increase. 15% is bad enough, but 10% is an insult slap in the face especially since Citi willNOT think twice about giving an EXTERNAL NEW Hire the highest end of the salary range increase or more than 20% !
Assume the job posting is for a Salary range $100,000 to $150,000. An internal employee will Only get a $10,000 Joke 🤡 salary increase TO $110,000 if their current salary is $100k.
But Citi will give an EXTERNAL job applicant/New Hire $150,000 !
Another instance of Citi showing that Citi Hates its employees!
Case in point.
Apply for NEW JOB = NEW JOB = NOT an In-Seat Promotion
NEW JOB means needing to learn a new job, new managers, new coworkers, new computer systems/applications, new group/team policies, new personalities, new processes, etc..
Even if you got the 15% salary increase for each Internal New Job (which according to HR was reduced TO 10% starting in 2025 because Citi is a Broke AS$ Poor Mendicant), IN-Seat Promotions are 5% to 10% salary increases.
So let's assume IN-Seat Promotion gives employees an average of 8% base salary increase.
Is an extra 2% to 7% salary increase worth the stress and headache of having to learn and adjust to a new job, new manager, new processes, most likely heavier workload and longer work hours, new coworkers, new everything etc..???
Apparently, NOT.
Lack of IN-Seat Promotions has Always been a constant and major employee complaint on the annual September VOEs, interim mini-VOEs given twice per year and the BullSh!t "Listening Circle Meetings".
It's like listening to a broken record or watching the same Dvmb AS$ movie over and over again.
Citi should simply audio record the meetings and photocopy prior years' VOEs to save time and money because the same themes and complaints are repeated over and over again.....Every Single Fvcken Year!
Lather Rinse Repeat.
But then this is Citi, where there's an endless, perpetual cycle of Dysfunction, Errors, Consent Orders, Fvck Ups, Stone Age Spaghetti "Technology", Lost Revenue/Profits, bad "managers", bad policies, ad infinitum.
Citi has been spinning its wheels like a Hamster for decades!
I've been at Citi for a good few years and have almost tripled my salary by staying here but applying to open roles a level up... which is apparently not promotional according to people here. Ok, so, how much has your inseats got you?
Prior to year 2021, up to 40% of Citi's employees who were eligible for or seeking IN-seat promotions got IN-seat promotions.
Between years 2021 To 2023 this declined TO 20%. After 2023, less than 5% got IN-seat promotions.
What changed??
Citi realized it's in dire straits, has severe financial, technological and operational problems NO Other financial institution has, and realized it needs to nickle and dime its employees. This is in addition to monetary fines U.S. Billions$$$ Citi has had to pay Regulators and a perpetual cycle of Consent Orders:
IN-seat promotions reduced TO Less than 5% of population annually.
Most employees receive Lower Performance Ratings TO at most Rating 3 regardless if the employees are exemplary because higher Ratings are tied to higher salary increases and higher bonuses.
Reduce bonuses given out, most down to zero.
Reduce medical, dental insurance coverage and pension/401k contributions.
Lower salary offers for New Hires/Svckers.
Hiring Freeze in place with fewer job postings on Citi "Careers" website. 90%+ of the job postings are for sales-commission-based jobs. Think stockbroker, financial advisor, retail branch banker, personal banker, corporate/commercial banker, etc..
Only a financially struggling company resorts to the above shenanigans, games and machinations.
Lehman, Bear Stearns, Credit Suisse, Wachovia Bank, BancOne and others did the same nickle & diming games.....Until they were merged, gobbled up in whole or pieces by the Vultures. You guessed it....GS, JPMC, Barclays, Morgan Stanley, etc..
GS, JPMC, etc. do NOT do the above nickle and diming BullSh!t.
RRP Bankruptcy writing has been on Citi's walls for at least 20 years.
If we all got "promoted" we would all be a CEO. Have a little business acumen and common sense.
You are a mindless sheep if you are going to sit and wait to get a "promotion" for doing your job. This isn't 1960 where they gave you a hundred extra a month and fancy job title to make you feel special.
In seat promotions are mostly achieved by bootlicking, nepotism or some combination of these two. At least at Citi
@ax I am ok with any promotion, but how to get it,if I apply my manager gets to know somehow down the line and block me
If you need to apply for/to a New Job to move up one or 2 levels, it's NOT a Promotion.
It's a NEW JOB.
If it's NOT IN-SEAT, it's NOT a Promotion.
Don't ever let an Employer sell you the BullSh!t LIE, "You can get promoted if you apply for a new job.".
The above statement is a contradiction and an oxymor0n.
It's also mutually exclusive and binary. When one event happens, the other event can NOT happen.
You can NOT be a little bit pregnant.
Lights/lamps can Not be both off AND on. The answer can Not be Both Yes AND No.
Read the room. Mass layoffs but in seat relevels? If you want a promotion you have to apply.
so depends on your department, my previous department is affected by the Layoffs and in the process of being phased off with a offshore team so our promotions were frozen so I transfered to a different department.