Any news on TCP and how's going to be ?
8 replies (most recent on top)
If you're in IT and a US employee, don't expect any raises. I worked in procurement and noticed in early 2010 's, State Street were in a spending a lot for IT infrastructure overseas and having the US IT workforce being replaced by overseas workers and IBM contractors. Imagine how much more worst its going to be in the foreseeable future with State Street acquiring Syntel.
They stopped regular annual raises during the Great Recession. I've have a few raises here or there every few years, but no where near enough to keep up with inflation. And I'm in IT so an even smaller bonus pool.
I couldn’t have said it better about the forced bell curve. It doesn’t matter if every FTE on your team is a superstar. You’ll get dictated that someone needs to be partially achieved and everyone else achieved. You could push for one person to be “sometimes exceeds” which is a step above achieved, but you have to be prepared to fight and take the beating. With teams that maybe have a one full time employee to every 5-6 contractors the forced bell curve isn’t fair and doesn’t make sense. It’s also demoralizing and just a tool to justify no raise or a cut in a bonus.
It doesn’t matter if you’re a superstar, or if you’re proactive, everyone but their favorites for promotion are getting bell curved into “achieved”. You are not allowed to answer honestly about your staff’s performance. There is zero incentive to completely kick a-s at State Street because it won’t reflect in a major raise - or any raise - or a bonus increase unless you are one of the lucky few that the exact management currently favors. So if you are in a team of strong contributors, not all of you will be treated equally. Bell curve doesn’t allow it. Also, if they promote anyone, they have to use the merit pool to get them to the next minimum level so no one else in the group gets any raise. So just do the basics because trying to really shine doesn’t result in upward mobility at this company anymore. It’s sad and unethical really. They take all the money at the top with multi million dollar bonuses, leaving very little for the working man and woman. Yet it’s their bad decision making that has resulted in unhappy clients. I’m sure tcp will be similar to last year and every year - “ economic headwinds” limiting how much they can share with all of us
despite record inflation.
What are people expecting? I’ve been here over 10 years and only ever had 1 good raise. It’s the exact same sad sack song and dance every single year. If the company had a good year, you might see 1%. Else it’s 0% raise and 15-20% lower bonus if you are lucky enough to get anything. Doesn’t matter how hard you work. Expect to be disappointed.
Same story every year
too many headwinds will mean another year of zero raises and an insignificant bonus
Asking Ron will result in another non-answer. He can’t even comment about the new branding without a support person. Really? Is it that complicated? Granted it’s like staring into the sun bright and the font looks blurry and makes my eyes sore but sure , great use of our “strained expenses”, fellas.
Ask Ron.