Wait until your manager shares merit increase and bonus information with you. You'll think the bank is in the red.
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@1y1+1jhr6k97k - it's not called the "Record Revenues" Town Hall (although it should be).
It's called "Earnings Town Hall" -- which does impact all of us (apparently downward).
Revenues minus Expenses = Earnings
The Expense part if what the bloated "management" team cannot seem to "manage", despite RECORD REVENUES.
So they should just skip the part about Record Revenues -- since that has made no difference in the past 6 years -- and just tell us the Expense number so we can prepare how much our pay will decrease.
Meanwhile, remind me? how much does the Board pay this incompetent "management" team... yea, I thought so.
I wonder what's the point of doing townhalls to share the earnings report when company earnings have no bearing on compensation? I mean why do I care at all how the company did if it has ZERO effect on me?
Good - 'bout time!
While I am solid blue, these folks are way too woke even for me. Get your personal agenda out of our company.
We're a godd@m BANK, for fux sake. We're here to lend and help non-fraudulent companies grow ----- regardless of politics.
I don't bring my politics to work and neither should Brian and his Fleet cronies (calling out AF).
Our company should not be anyone's personal piggy bank. I don't care if you are CEO, Vice Chairman or what. Focus on the CLIENT.
I have had one raise in the last six years. Less than 3% in total. I'm obviously overpaid for what I do. 🤣
Moynahan just excoriated by DJT at Davos for hindering conservative businesses
They tried to manage me out but I just stayed put. Finally got my package!
"I was Rolling my eyes the entire time listening to the Townhall. It’s exhausting every single year “ we had such a great year, we’ve grown and our revenue is at all time highs” … yet every single year we get a cut off of the amount that was already cut last year that was cut from the year before that and there’s no way to move forward as the economy around us continues to increase price, but yet we’re expected to do more work for less money."
We've seen this play before:
In Greek mythology, Sisyphus was the king of Corinth who was punished to roll a boulder up a hill for eternity. The boulder would always roll back down before he could reach the top.
@bj+1jhr6k97k does it ever go up?
I was Rolling my eyes the entire time listening to the Townhall. It’s exhausting every single year “ we had such a great year, we’ve grown and our revenue is at all time highs” … yet every single year we get a cut off of the amount that was already cut last year that was cut from the year before that and there’s no way to move forward as the economy around us continues to increase price, but yet we’re expected to do more work for less money.
They are managing people out in order to avoid doing layoffs, but that makes it really hard to retain good talent.
So what does everyone say or want to say to their manager when you get the compensation talk that starts with “thank you for all you do but.,,”
Then proceeds to say, no one in our organization got a raise this year. Really. How do you know? I work in marketing and I KNOW some received raises last year. Just be honest. Either tell me I already make more $ than my peers, and that is the reason. Or, that I’m not doing as good of a job as my peers, and give me specific examples. Maybe I’m just not a favorite haha.
those French people in the late 1700s made a very good point
Our manager already told us bonus/merit budget was down 2-3% from last year. Funny because last year was wildly low.
As long as the SLT gets a great bonus I'll sleep good at night knowing they can keep up with the payments on their lake/beach homes and wake boat. 👍
Happy leaders = happy work life
Rest assured, they will find a way to scr=w us one an all!!
All of you thinking you get a 15 increase...???
Bah hahahahahah!!!!!
Even if you do, on an inflation-adjusted basis, that puts you 1020% down.
They are LAUGHING at you, stuffing their pockets.
Look how phat they are. Stuffed into their finery.
But a new g-ddamm suit already,
A Day of Reckoning is at hand.
They're just laughing all the way to the bank with their millions of bonuses and compensation at the expense of overworked employess toiling day and night just to keep the company chugging along and not get paid for their Overtime work.
@a5+1jhr6k97k, let us get the terminology right. Many of us here are shareholders due to RSU awards, but we do not yield that much power. It is the investors, i.e., large shareholders, who are first and foremost.
Great earnings report….really?
BAC stock tanked after the results and look at other bank stock after the Q4 results.
Is that how shareholders look at it?
These questions ki-l me.
Moynihan does not run the company, the shareholders run it. They are first and foremost.
This town hall does nothing but take up an hour of my day on an already jam packed schedule.
They laid off employees, throw more work at remaining employees, and then send these meetings to us to spend an hour on and then discuss together as a team.
Run me my bonus and merit increase amount (probably 0.00001% increase) and leave me alone.
"they have a special calculation for compensation"
basically it is just a calculator with 0s on it
perhaps the pipes are broken, whatever is supposed to be trickling down has stopped
It’s a corporation thing. All they care about is the $$ and how they look. I’m so looking forward to the day I can quit. Guessing 1% raise and I’m already the lowest paid man in the team. Guessing bonus about half of last year. Every year my total comp goes down while cost of living keeps rising. We just can’t catch a break Get told to do mute with less and be more innovative. Meanwhile my brain just keeps telling me they get what they post for.
Isn't this the same story everywhere, they have a special calculation for compensation