Thread regarding Northwestern Mutual layoffs

pay for performance

"we pay for performance" we often hear. is it true?

merit pool of 2% equals of a 5% paycut at best, 6% for most this cycle once inflation is factored in.

run the bonus pool out using company provided numbers and a high performer should expect ~$80/pay period equivalent better than a 'meets expectations' coworker. is $80 worth anything? the time away from my family or being lucky enough to be on an effort that is visible enough? a day trade a day can bridge that gap w/o effort.

looking forward to submitting my notice as soon as the bonus hits in 2 weeks. done wasting my time.

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| 2631 views | | 5 replies (last March 16, 2023) | Reply
Post ID: @OP+1ls1sXhx

5 replies (most recent on top)

farewell! cashed the check, left my cr-p at the desk and gave a 0 day notice.

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Post ID: @dpmg+1ls1sXhx

I former co-worker of mine quit to do day trading. He just reached out asking if I new of any gigs after losing more than $15k a day on several trades.

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Post ID: @1arh+1ls1sXhx

op's rating was 'highly successful' after comparing to the bonus rec'd by a 'successfully/meets' can clearly say it is not worth it.

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Post ID: @bhn+1ls1sXhx

You need to calculate total comp of which base salary is a multiplier to your bonus. The difference between total comp in a year of successful, highly successful, and exceptional is pretty significant. Exceptional gets more than 60% over a successful total comp. And it's cash, not long-term stock, like other "big paying" companies.

You still might say it's not worth the effort, but that's your choice and one that most people in life tend to make. Average work for average responsibility with below average chance of advancement and thus overall average pay. You'll probably have more time for family and hobbies and, as you said, do some "day trading" while the top performers work to the top of their ability.

I don't want to make it sounds like I'm making fun of you, because I'm not. You realized that responsibility required to be a high performer is a lot of work (it is), and not worth the extra pay. Most people would agree with you and go on to live happy and healthy lives while still gainfully employed. Just don't get mad that the ambitious and crazy 20% of high performers are going to do whatever it takes to be the best and get the best rewards. That's their choice, just as much as it's yours to not do that. Not everyone is built for that life, just don't expect the workload/reward ratio to change anywhere you go!

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Post ID: @oko+1ls1sXhx

Use the upvote / downvote button to vote on whether this person actually puts their two weeks in.

Upvote = doesn’t quit
Downvote = does quit

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Post ID: @myi+1ls1sXhx

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