Looks like the predictions for a mass exodus was all wrong. Management made a big concerted effort to provide some outstanding retention incentives. First round was in the form a some very large one time bonuses, combined with merit increases. Second round includes a large amount of RSU and ESOP awards, that vest over 4 years. However, combined, those incentives are very lucrative, especially the ESOPs with with a $10 strike price.
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@jhiq+1fBrMY27
Ok, got it. You are talking about long time since LD1. You have to take into account the pandemic though. There are about a 1 year of high uncertainty, in the financial markets and job markets. Not sure when in 2021 things started to really turn around, and the job market became an employee paradise. But if you figure in the 1 year of initial pandemic, isn't that long. Folks were probably looking hard at leaving in 2021, but then held on for the bonus and etc.
Deal close was Oct 2020. Three years is a long, long time to wait. And now, even 1.5 yrs is a long, long time to wait, esp, if you are unhappy.
@jemp+1fBrMY27
What?!!?!? What are you sniffing? You are not making any sense.
That's a long time to stick around in a place, if you dislike it so much and feel there's no future. You are better off leaving.
I got another job, but I didn’t quit the one I have at Schwab. The bar is so low, I only have to do an hour or two of solid work a day to get meets expectations.
Couple of things. Some of the Green folks are probably staying for the retention bonus after CD1. From the numbers I heard, that could be pretty compelling. Plus, the bonus payout from this last round was pretty good with the 136% funding. If you are in grade 58 or 60, towards the higher end, thats a pretty good chunk of change. With six more interest rate hikes from the Fed, 2022 is shaping up to be a good year. Expect another good annual bonus. And to boot, SCHW stock should go over 100 at some point easily. RSUs and ESOPS. A lot of us with those accumulated awards are going to make a ki----g.
Seems the mass exodus of green didn’t happen. So, you like to complain but not back it up while those pay checks hit huh? Thought as much.
There is another thread asking who is leaving after March 4, and there were a ton of green replies. So far I have not seen any big movements. Couple of resignations, but thats about it. Still seeing the same green more runs. I hope they go buuuu bye soon.
I really can’t wait to listen to Simon noodles lead an incident call where he finds out his team of blue dummies know nothing about green systems. One incident away from no recovery.
I wonder who is pointing this out to regulators? Going to be epic.
There hasn’t been a huge wave of attrition yet. Numbers are up marginally from the week prior to bonuses. However, of those 5 or so I know that left in the last week have deep knowledge that’s going to be extremely difficult to replace.
We’ll see how it goes in the next week or so.
Finally some movement with Quirk and JJ leaving. However, that mass exodus, has not happened. So, its about 2 weeks now. Another 2 weeks before the mass attrition? Certainly hope so.
Don’t have numbers, however, have heard of at least a dozen resignations…
Green team is in big trouble. so much talent has left or has been cut. We are one incident away from big trouble. There is not enough knowledge base left.
A $60K bonus??? Green associate. My yearly salary isn't that much more than that kind of an annual bonus. And my bonus is not anywhere near that amount. Heck, I'll take a $30K bonus.
From what I hear, bonuses ranged from $30k to $60k, for grades 58 - 60. Depending on individual perf. There were also big RSU and ESOP awards.
LOL, hammer about to drop, will take ~two months are majority of green to jump ship. Wishful thinking that the paltry bonuses and retention is going to keep anyone around. Only the deadbeats will stay.
The bonus was just paid yesterday. Even if half the company quit yesterday afternoon, wouldn't see it in the systems for at least a few days.
Let's check the numbers in two weeks.
Ummm still 2-4 weeks before we see the real drops in numbers… no one quits til the money hits.