Big NO. They said it on the call. What they want to do is play a shell game. Take a % of your bonus and move it your base. You actually make less at year end. If they do away with the IPF then you have zero ability to make more on your bonus - you lose money if the average is 1.2. Add that I'm pretty sure they aren't going to match that % that they want to move. If they do that then it makes sense to take it. If they don't the employees get hosed as usual.
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They will do it on the FY year boundary, so timing will not matter.
One trick is that the amount of bonus attracting the multiplying factors will be much reduced, so the company will actually save money.
"Shift Bonus(40%?) to Salary?
If this year's bonus already shifts, then bonus will be smaller, and salary will be higher throughout the subsequent year.
If this happens immediately prior to this year's Bonus payout we lose out.
If the shift happens after the Bonus payout we win."
Bonus is for last year, raise is for next year.
They should payout bonus as previous years, but declare a new structure...
If your bonus was previously 10% you should get your 10% this year and 6% in the following years, you should get 4% raise this year and following years. (Still way below the inflation rate)
But let's see what they really do in June when they announce their thoughts...
But if you can get 20% or more raise now (that is multiple years of raises) , there is no reason to stay around as the job market will not be this good in the coming years.
Please do explain why inflation as measured by the consumer price index is hitting record highs in Western Europe. Nobody is printing dollars over here, or Euros for that matter.
Nobody is printing Euros? Have you been living under a rock? The ECB has had an exploding balance sheet since at least 2012. I hope people don’t make such statements in polite company, or others will laugh at you behind your back.
Who the he-l cares? Just put in minimal effort and try to get the fu-k out as soon as possible. Place is a complete joke and a shell of its former shelf.
Shift Bonus(40%?) to Salary?
If this year's bonus already shifts, then bonus will be smaller, and salary will be higher throughout the subsequent year.
If this happens immediately prior to this year's Bonus payout we lose out.
If the shift happens after the Bonus payout we win.
As I understand Cisco’s approach, they aren’t doing anything but shifting money so total comp is the same. That isnt “helping” with inflation, that’s a shell game.
https://finance.yahoo.com/news/cisco-shift-pay-bonuses-salaries-120001202.html
It's quite uncanny to expect your employer or the government to help you cope with inflation. It's entirely out of Cisco's control.
Employers have to help their employees cope w/ inflation or risk losing good talent to their competitors. When new-hires or contractor conversions are coming in at better wages than existing employees, employees leave to be "new-hires" at other companies.
When their attrition rate gets so bad that nothing gets done due to everyone on a team having to "ramp up" or get up to speed on Cisco processes, then you're losing money and market share to your competitors.
I honestly can’t waste any additional time waiting to see what Cisco will do for comp adjustments. There are tons of places that pay waaaay better.
yes cisco will giving all california employe money cover imflation costs living. director my team say 15% to 18% pay
Consumer price index doesn't measure asset inflation. Housing, bonds, stocks, retirement are not measured in the CPI. The current inflation metrics are like saying Cisco won best company to work for... it's a useless stat
"Has very little to do with Ukraine or China."
Please do explain why inflation as measured by the consumer price index is hitting record highs in Western Europe. Nobody is printing dollars over here, or Euros for that matter. Suppose it's due to "printing money". Who benefits from that money and how exactly? Inflation today is very largely due to the massive increase in energy prices (again, explain how printing money affects energy prices) and to sluggish industrial output because of lockdowns in China, and simply because there's far more demand for certain goods than pre-COVID.
ELT will talk about the Cisco family, hold your hand and whisper sweet woke-things in your ear until the cows come home. But when it comes to spending real money, NOPE.
Big Tech has silenced free speech and put this administration into power. The ELT as given themselves raises but nothing for anyone else.
Inflation = increase in money supply. Federal Reserve printing more money (4 trillion) in the last 2 years than all of US history. All the politicians (Rep and Dem) want to buy votes, and most Amercians are d-mb enough to believe it is all free money. Has very little to do with Ukraine or China.
It's quite uncanny to expect your employer or the government to help you cope with inflation. It's entirely out of Cisco's control. It's driven by the war in Ukraine and China locking down anyone with mild COVID symptoms. More demand than supply, simple economics.
The Bay Area always had high inflation. Only Directors and above receive cost of living assistance.
Per the “Check-in” earlier this week, no.