I joined BNY at the end of 2019, so wasn’t eligible for a bonus in 2020. I (like many others) got a bogus BE rating on my year end review after getting a glowing write up and being told I’m on track and doing everything right.
Anyways, with a BE as a J level employee, am I eligible to even receive a bonus? I asked HR but they are useless. They just said it’s discretionary.
BE rating means no bonus or raise. I too was getting bogus BE’s all last year and got neither. I was so p-ss-d because I had worked long and hard always for decades at the firm . But I wanted to be laid off so I had to look at the “prize”. Thankfully I was laid off last week and don’t need to work a second year with no increase.
Bonuses are usually paid out at end of February and if you leave before it is paid out they are not required to pay it to you.
Tell me...is there any BE that has gotten a bonus? I have NEVER heard of anyone that has gotten a BE that got a raise or a bonus. If there is somebody, consider yourself VERY lucky!
10 % is not true enterprise wide , may be client facing. Tech employees rarely get above 4% that is if you exceeded your expectations.
Bonus is amount of money given to the team. Exceeds get more than average, BE's get less than average thats how it works (unless you are canned). If someone gets a promotion then they usually get raise and bonus. In most departments its up to the manager to divide as they see fit. There is no rule that says BE's dont get bonus.
What date generally they distribute the bonus this year (2021), in case they are giving?
I’m mainly just asking how it works. If the company decides to give bonuses, then your manager has discretion over how it’s distributed among the team?
The recruiter told me when I was hired, bonuses are typically around 10%. Not sure if that’s accurate for a J level employee.
Also, if I would leave BNY before bonuses (if I’m eligible get one) are distributed, would I still receive it? I was employed the entire calendar year of 2020
You are eligible for 0 to 40% but my understanding is they aren't giving bonuses to BE. So they force us to rate people and then screw them out if raise and bonus.
Keep looking for a job - externally. BNYM where careers go to die. They don’t call it the boneyard for nothing.
Probably not… if you do its most likely going to be pathetic.
With a rating of BE you are not bonus eligible
No you are not eligible
Sorry to say but it’s anyone guess.
It’s constantly changing.
Welcome to the firm.
I have had 3 BEs over the years and all received bonus. It was about a 10% reduction over the prior year (meets)
They said it's discretionary because it is. You'll get one or you won't. You'll just have to wait and see. In the meantime, polish your resume.