Any sense of bonuses this year? My salary has gone up but my bonus has been flat. So essentially my % comp has gone down. I’m looking to leave if it’s flat this year so I want to get my applications out early to beat the rush. If the bonus is flat my goal is two weeks notice the day it hits my account.
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Same story every year. Budgets are tight! CEO gets 30% bump.
I keep hear conflicting info - regarding bonus payout - will it be on Jan 31 or will it be Feb 14?
My bonus has been the exact same dollar amount the last 3 years under 2 leaders. My salary has gone up all 3 years. I would expect a least a change based on the increase or decrease of WF revenues or profit for the year. It seems strange that it is stagnant, but I’m sure I will hear some nonsensical rationalization for why it is happening. Let the gaslighting begin.
I heard we are all getting a jelly of the month club for our bonus this year.
@1kkr+1vpxQCyP No we shouldn't. I want to know how much I have for the Christmas presents.
Can we just get through 2024 before speculation of bonuses?
Every year, and it is now many years, that I have been at Wells I have received a larger bonus and salary. I have always had a "meet" for job performance and have never had a promotion. I expect to be let go sometime soon.
Last year a lot of people got an RCSA kicker added to their bonus. I'm guessing they wont get it this year, so bonuses will be smaller for many. It's right in the policy that all bonuses are discretionary, so I never count on it until it hits the bank account. If it happens, good news. If not, it is what it is. Discretionary doesn't mean "guaranteed to get a bigger bonus every year", it means you might not get any bonus at all.
OP, I'm not sure you're grasping the Total Variable Comp (TVC) concept, as when you talk about your bonus being flat, yet your bonus has gone up, sounds like you are still stuck in the bonus as "target" % of salary. Let's put it this way - you can get a merit every single year for DECADES, yet if the bonus pool funding isn't increased, your performance stays the same, your position stays the same (although even if you get promoted, it's not a large increase in TVC, if any at all, depending on bonus pool funding and your performance), your bonus will remain the same for those decades. It's built off what you received the prior year with adjustments based upon funding, your performance rating, and any position movements from one year to the next. So the fact that you have received a flat amount is actually not a bad thing........at least not according to the newish (it's been around for 5 years now) TVC bonus method.
Wasn’t ready earlier this week. I read that as someone from finance quit or should be forced to quit as it should be known now.
Heard bonus pool will be lower than last year.
merits around 2%. 20% cut to bonus pools.
That’s the problem with the new bonus pool system vs the old Target percentage bonus. Manager will get a flat bonus pool every year, or minimally increased, but it isn’t necessarily distributed across the team. If someone comes into the group with a lower or higher bonus than the rest of the team, the only way to give increases to others on the team is to take from someone else on the team. That then re-baselines their bonus for years later. If you get a low bonus one year in this new system, you will never get back to where it used to be.
Same! My bonus has been the same since 2019.
Manager here in CIB, we got an email the other day from HR saying that bonus pool numbers will be coming out next week.
I expect bonus to be reduced sequentially for me 4 years in a row next to nothing. The reason will be something like I did not cc one email to assistant 6 months ago or could not make someone in another department do their job etc. I am spending an hour plus a day interviewing and networking for external gig hoping something pops soon. Feels so close!