Hearing that for the nth time the powers that be are forcing managers to lower performance ratings for senior staff from 3s and 4s to 2s -presumably so the total bonus payout is reduced
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Agree @3agw+1pXdBrvy, and sorry that you were pushed to such a bad place. I was too. While my marriage barely survived the years of chronic overwork, I pretty much had a breakdown and saw total collapse of my own confidence from once being someone respected and a 'go-to guy' to being force-ranked to the bottom. The effect was scarring and I left (to newer pastures) a few months later but still trying to rebuild my shattered confidence. I am paid better now and am in a competitive but caring environment. I am just sad they haven't and probably won't see my best. It feels like a distant memory now. I wonder how many others went through this...
This is normal -- you're basically looking at the private equity labour exploitation and arbitrage playbook there.
In a previous role my group got spun out of Thomson Reuters into Misys which was taken over by Vista Equity Partners. Part of their secret sauce is 'HPELs' and their notorious 'personality test'. The backbone of their own operation is naive talented kids who get worked to the bone; those deemed worthy (pliant and exploitable) will get modest raises out of proportion to what they actually do. Then seniors get fired and their work goes to poor countries.
That is an especially sc-mmy move, but sadly, from what I witnessed at Refinitiv, there is no low the sc-mbag banksters won't plumb to exploit and abuse the people who actually do all the work.
I was only ever seeing 2% increases as a senior/lead developer for years on end despite busting my butt to the point of nervous breakdown and failed marriage. It wouldn't surprise me if this has actually been a thing for a while. I quit blaming myself, because in every abusive relationship, there is an abuser and a su---r willing to take it.
Having moved from working on AML software to a completely different business, I was SHOCKED at how at my new company, that while they're ruthlessly competitive, they treat people who know the business and who have served for a long time, with dignity and actually celebrate it. They WANT people who understand how the business works. Amazing, I know...
Not surprised at all. % pay increases for 2- 3 years have been biased to lower grades. Some seniors got 1%-2% last year but juniors were like 7 or 8%.