People are leaving for competitors every single week. And the company isn't offering them better pay or any incentive to stay. Not even a conversation. With others being kicked out through layoffs, where does leadership think that will leave us in a few years?
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Maybe it depends on which Citi department.
The MDs in my dept swear up and down, No gets a counteroffer.
If you want to quit, go quit.
Lot of BS information on this one. Citi does make counter offers and use retainers where it makes sense to Citi. I was at Citi 30 years and have seen many folks (both senior leadership level and individual contributor level) get retained. I have seen senior exec level (MD) folks in the data center org, risk org and cyber orgs get 6 & 7 figure retainers and I have also seen multiple instances of C14's getting countered in the form of a C15 promotion, etc. It happens but it only happens to the real game changer types - folks vital to a program tied to executive leadership goals/comp.
Your average Joe developer (for example) will never see a counter for obvious reasons but the global head of IT risk who wants to leave for a competitor in the middle of cleaning up consent orders most likely would.
@OP Jane doesn’t care. She literally laughs every time she gets paid.
Someone doesn't understand that averages are statistically biased.
That's why anyone with a modicum of statistics knowledge uses the Median.
From the SSA Social Security Administration:
The average individual annual wage in the U.S. is approximately $69,846, according to the Social Security Administration's National Average Wage Index. Because extremely high salaries can skew averages, economists also look at the median personal income, which is roughly $51,370 for all workers and $63,360 for full-time, year-round workers.
@av Someone doesn't understand averages.
GS and JPMC will not give counteroffers to their best employees who quit/handed in their resignation letters if doing so is not cost effective or operationally efficient.
Obviously the positives of giving out counteroffers out weigh the negatives.
I've watched some of the best Citi employees Quit Citi and go to GS, JPMC, etc..
The employees who remain @Citi are actually the ones Citi, GS, JPMC, etc. do Not want.
This is why Citi is a Dysfunctional, Incompetent Freak Show Circus.
Why would they ask anyone to stay? Getting you to leave without paying you severance is a big win.
Why should they? There are statistics and data that have and continue to show counteroffers only keep someone for an extra year. It just isn't smart business to keep someone half way out the door.
I asked this question about 4 years ago.
The Citi MDs told me Citi has a HR policy of Not giving counteroffers to employees who leave, quit Citi regardless if they're top performers or the best employees.
To the best of my knowledge, GS and JPMC do Not do the above. They give out counteroffers to their best employees they want to keep to convince them to stay. I witnessed this first-hand. Some of my former coworkers told me they were given counteroffers after they handed in their resignation letters.
Remember, Citi does the opposite, the illogical and what doesNot make sense because Citi wants GS, JPMC, He// even Wells Fargo Bank to continue beating Citi's AS$.
@a4 comments like these really make me wonder which of my coworkers are truly this toxic
They will be easily replaced by a desi in the proper caste. That seems to be citi’s long term strategy now. Replace good usa talent with desi off shore resources and make up the gap through the use of ai. The spanish cartel’s days are numbered too.
Now is the time for peeps on this board to chime in with….
“They are leaving because they know their days are numbered.”
“They had to leave because they were low performers and could not make it at Citi.”
“They will be back because everywhere else is just like Citi but worse.”