Thread regarding Raymond James Financial Inc. layoffs

If you’re tired of getting shortchanged on your lunch meat, you have 2 things you can do.

1. Remind the firm of its commitment to DEI…complain that it is in violation of the Equity portion of its DEI promise.

2. Bring your in your lunch from home and save the 8 bucks altogether.

lol. I’m in Southfield. We have a lunch room that screams depression.

Have you ever wanted to read an entertainment magazine from 2008. Or stand in line to use the single microwave? If so they’ve gotchu.

Or eat your lunch outside on a patio deck that looks the than structurally sound?

I’ve seen all three sites and still can’t understand how the big cheeses can keep a straight face when they see our dollar general version of an office.

To This isn’t working for me brother…Paul thanked you for all of your hard work. That should more than make up for any shortfall in actual compensation.

You should relieve your stress with a game of pool or ping pong in the T3 cafeteria. You helped pay for it after all.

Level 18 retirement plan services

Salary 54k

Bonus this year was $2300 raise was 2.4%

Department bonus seemed to range between 2700 and 2000. Raises were 2% to 2.7%.

The company thrives in secrecy about pay. And it's disgusting.

Morale is trash right now. Branches are getting sh-t service from a disgruntled and burnt out back office.

We are poorly trained and tired of working mandatory over time.

Your experience is not unique. Others got high single- to double-digit increases. I understand those were the folks who were really getting screwed over.

Unfortunately, the Goobers Paul completely misrepresented how these record increases would be distributed. Not much different than, “Right now we have no plans for layoffs.”

Wait, you all had higher bonuses/raises last year? Mine was below inflation still.

I too have heard about disappointing increases and bonuses this year. Can someone explain why that would happen after a record year?

Truist pulled the same stunt on Client Associates this year. Last year they bumped up tellers to over $40,000/yr which left them not far below us in brokerage. Truist gave us a mid year bump (not at all what the increase was for tellers) telling us that they appreciated us too. This year, that mid year raise became “well, we gave you an early bump up so that counts for 2023.)

Also, be on the lookout for a hit to ESOP and Profit Sharing contributions this year. RJ is famous for directing $ from the retirement plan to help fund raises and bonuses. Look back to see how your contributions fared before COVID and after COVID. This company no longer cares about the average non-producing employee.

The bonus and raise pool is bad this year. They'll use the higher increases last year as an excuse to not even give a cost of living increase this year. I'm sure the inevitable insurance premium increases will cancel out any raises we get.

I’ll tell you how much I make. I make JACK SQUAT!!!!!!

It's been a while. I was laid off during the Night of the Long Knives in 2020, except it wasn't at night and they didn't use knives.

I highly recommend the Employee Stock Purchase Plan (ESPP). You buy RJF stock at 15% off, hold it for two years, then sell it back at market price and buy more at 15% off. Repeat each quarter. I earned well over $100,000 (long term capital gains) from ESPP during my decade there.

Max out both your Roth 401(k) and Roth IRA each year. If you earn too much to contribute to a Roth IRA, contribute to a Traditional IRA, then do a back door conversion to a Roth IRA anytime thereafter.

Voraciously read all literature available to the financial analysts. It's available to all employees. The purpose of Raymond James Financial is to help people retire. It works. You are sitting on a gold mine. Mine it.

This ought to get interesting. Not sure I’m prepared to divulge that info but I can say a sincere “Thank you for all you do” means more to me than any amount of money. Unfortunately, I can’t convince the grocery store cashier, utilities companies, healthcare providers and insurance companies to accept such heartfelt kudos as payment.