Got my first IM after being at Wells for so long. Life got the better of me last year.
Any idea how much this affects bonus and raise?
19 replies (most recent on top)
The only HR rules for bonuses apply to IM and NI. There are no HR ceiling for ratings in good standing. It is a ceiling as a percentage of your TVC from last year if you are IM. 90% if you are IM rating - 80% ceiling if you got IM on risk overlay. NI on either can get no TVC. To be sure - I would expect a bonus significantly lower than 90% of last year if you are IM.
OP here, got full bonus and 0% merit
Plan on 50%+ cut to bonus and 0% raise
@gk+1jjk8zekf I am not disputing that they want us to leave without severance, but the IM didn’t come with a performance plan. At least not yet.
I just think we are top of the list when the area wants an efficiency layoff.
The reason they are tormenting you is that they are trying to build a paper trail that will support a term for cause. They aren't going to lay you off, the are going to fire you. They'll drag it out though, hoping you resign and eliminate any chance of legal action.
In the same situation. First IM in a 15 year career at the bank. First negative review in my entire career.
Just lay me off! No need to kick me on the way out!
I had to deal with that last year for the first time in 15 years. It definitely knocked my bonus down, but I did not review the percentage decrease. Luckily, this year went back to meets, because I changed teams, and I would recommend the same. My opinion is that once you fall into that bucket, it is easier for your manager to repeat the review so they don’t have to pi-s someone else off.
I got my first Inconsistent Meets here as well after many years of Meets/Exceeds. Don’t fret over it too much. Know your values, keep your skills relevant and don’t be afraid to challenge yourself to new opportunities.
I just got my first IM rating after 15 years. I am shocked. Then I learned all about the bell curve. The manager MUST place 15% of the team in an IM bucket and 5% in the NI.
It doesn't matter what you do. Once your boss decides you should spend time in the low zone, you are toast. All segments must be filled to include low rated employees that do not really belong there.
It's a minimum of 10% cut to bonus.
no raise or bonus for you . Soup Na-i
There isn't any explicit guidance on what managers need to do for someone with an IM Rating, but there IS guidance on what they CANNOT do without justification/rationale entered into the system that the OC member of that LOB's group needs to sign off on. Anyone with an IM rating that doesn't take at least a 20% haircut to last years' bonus amount will have to provide rationale/justification to be signed off on. So if your manager wants to, they can give you less than a 20% decrease on last years' bonus, BUT they will have to have a strong case for it that they've written and get the OC sign-off. If they don't want to bother with that, then you will get 20% or more of a decrease from last years' bonus amount. Like another poster said, you can search for discretionary incentive bonus guidance in TeamWorks and it will lead you to manager help articles in ServiceNow where it provides what is "out of guidance" for managers to do, which this situation is one of them.
Surprised IM would receive a bonus.
My manager said bonuses for his IMs were revoked. We are in Tech > WXPS.
pretty obviously means inconsistently meets. it is one level below meets.
What do you mean by IM?
the guidance is available on Teamworks for all to see, you just have to search for it.
Happened to me last year. Bonus was lowered 15 percent.
I’m in the same boat. I received the impression that managers had to really adhere to strict bell curve this year and good performers who had never received before were getting. I was told it wouldn’t be a huge detriment to comp, but we shall see…
Ask your adversary (your manager).