Do we get raises?
20 replies (most recent on top)
Raises as in merit increases? No, not likely for most. Cost of living adjustments? Potentially for some. Each manager will be given a bucket of funds to distribute across the team as they wish, and those buckets will be very different across the bank. Many buckets will be zero. If your team is allocated funds and if it is spread evenly, you probably get 1% or so bump, but it won’t be more than inflation because they will tell you that’s short lived. Some managers will play favorites of course, give most of the money to top performers to retain talent and keep their teams propped up to save their own jobs for another year. It won’t be transparent, but the strategy is to make those middle level managers (who are stuck in neutral) feel somewhat empowered while in reality, employees end up despising a powerless manager and senior management sits in the duck blind watching the carnage.
"God. There are some naive bumpkins working for this bank."
Oh, the irony. What chapter of the J.R. Tolkien's The Bible are you on?
God. There are some naive bumpkins working for this bank.
Policies will vary across teams. Not sure anyone can tell you specifically without knowing your role.
I was told that in Feb, they will determine what's available and will distribute it accordingly. I'll be waiting open-handed like Oliver Twist, "may I have another, sir."
Define “we”.
"No raises, closely aligning with our peers"
Raises? LOL! That's hilarious! Be happy to have a job!
It’s incredible how corporations have sold the bill of goods that 2% is the best case scenario. Particularly for a bank such as Truist that is the beneficiary of higher rates from a net income standpoint, while the employees are the consumer hurt by inflation and the resulting rate increases. The other crazy part is how they now completely tie it to a zero sum performance model - not everyone will even get the target, even with a high performing team. HR has completely gone from supporting both business and teammates to only being there to protect EL
That little lever on the left side of your office chair is going to give you the only raise you are going to get this year.
And to think, the new HQ was moved to Charlotte as a means of tapping a larger pool of young, ambitious talent. How do you think that new talent will feel about a 0% raise in their early career?
Left hand, meet right hand.
@cty is right, heard the same in a Town Hall regarding increases. Merit raises will be ultraslim to none, that is if you’re not RIF’d. Have a purposeful day filled with Care….Truist insanity is unstoppable!
Joe Thompson says Merry Christmas you plebe
Merry Christmas and a happy new year u little tiny Tim’s
We were told no raises, no backfills for departing teammates, no promotions, and no travel. When you start with care - you sure do get a different kind of bank.
Joe Thompson always gets a raise.
It depends, is your name Bill Rogers or Joe Thompson?
More likely no. Merit increase will be heavily scrutinized this year.
What's this word you're using? Raises?
OP must be new here. The word “raises” is not in the vocabulary of Billybob and his leadership regime.
Lol