Thread regarding Citigroup Inc. / Citibank / Citi layoffs

The role of the direct manager in the employee's raise and bonus

I really don't believe that the direct manager has nothing to do with raises or bonuses, as someone wrote here. Is it really possible that they don't have any influence over it? I'm asking for your opinion, although for now I'm almost convinced that they must have something to do with it.

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Post ID: @OP+1i7ob3pQ

8 replies (most recent on top)

I managed a team avp and had zero input on the amounts. I did determine the rating. After that it's a formula...

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Post ID: @hhyl+1i7ob3pQ

If you hire in new talent at a higher salary as the current internal employees, that in itself tells you that you are behind on the salary curve and in effect are punishing your employees for being loyal by not paying them the market rate.

Unfortunately for Citi, this is the norm and designed this way. Keep your people exactly where they are in salary. Hire in newer employees at a higher salary. Let your tenured employees get annoyed enough at this to leave. By the time they do, your newer hired people have the experience. Use the excuse of “we don’t know why attrition is so high” and leverage that to reaffirm a resurgence of hiring more and the machine just keeps on churning.

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Post ID: @7axp+1i7ob3pQ

Direct managers don’t have much say in the bonus’s given.

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Post ID: @5gtg+1i7ob3pQ

Someone in accounting runs an excel spreadsheet formula based off of who knows and spits out percentages. Its common knowledge if you belong to a group that makes money, your $ is greater than a group that keeps the lights on. If you belong to a group that keeps the lights on your $ will be minimal unless you do something globally stellar like invent the ATM machine.

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Post ID: @3qpp+1i7ob3pQ

It depends on your role to senior management and how visible your excellence are. I think your bony was decided before your direct supervisor rate you. Your comp would have been sent to HR review if you are the one senior management care. However if you are not out performer, your comp will be as average but your direct manager can sc--w you by bad month to senior management. Of course bad rating will cost your job

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Post ID: @2efo+1i7ob3pQ

If you hire in new talent at a higher salary as the current internal employees, that in itself tells you that you are behind on the salary curve and in effect are punishing your employees for being loyal by not paying them the market rate.- - This says it all clearly to me.

https://www.thelayoff.com/t/1hOhKbCW#replies

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Post ID: @1bgx+1i7ob3pQ

Only your ratings...we have nothing further to do with how much you get if anything as a merit or bonus amount. Depends on where you are already and how you rated. That planning is done at senior levels based off your ratings.

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Post ID: @1vcm+1i7ob3pQ

of course the do. they advocate for you ( rate you in calibration sessions etc). assuming you're manager is senior (Relatively)

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Post ID: @1nwk+1i7ob3pQ

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