There are rumors speculating that there will be no pay raises or bonuses this year. Is this true? Just trying to set expectations for myself as I may need to either find another job or get a part time job.
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Wow! You were spot on. 30% is what they are projecting. I am so disappointed since my team has worked harder than ever and exceeded all of our goals too.
Is that why they were so generous to give people laid off their 2025 bonus?! 😭😭 (not in advance, just when it’s issued with the rest next year). 100% of 0 is….
I suspect it’ll be the same as last year, if not worse. Unfortunately, you can’t depend on a raise and bonus. I’m actively looking outside the company, not because of this but because it’s an absolute train wreck.
Don't expect a 2024 MIP bonus. CVS 2024 adjusted operating income goal is $17.24B. 2024 adjusted operating income must be 85% of the goal for the MIP to be funded which is $14.654B. Through the 2024 second quarter adjusted operating income is $6.701B and doubling that amount for the rest of 2024 will be approximately $13.402B. That is $1.252B short for MIP to be funded. If adjusted operating income would hit 85% of the 2024 goal, MIP funding would be 25% of your bonus target rate.
I wouldn't expect bonus to pay out more than 50%. Probably closer to 30%.