So I moved from M2 to P4 a year and a half back, last year’s bonus was funded by my old department and based on M2 level, but now I’m stuck at the exact same bonus because I guess bonuses are now based on the pay year? WTH is this BS? I’m basically trapped at a lower bonus based on my old job?
8 replies (most recent on top)
Bonuses are NOT based on rank anymore. Bonuses are based on 1) your performance in role, 2) your business unit's performance, 3) the bank's overall performance, 4) your last year's bonus. I can tell you 1-3 are garbage and have little to do with reality but 4 is true.
Did m2 get converted to p4?
Got a 3rd round, final interview this afternoon. Hopefully all goes well and I am dropping notice Friday. Was told I'd be part of this Location Strategy in May, but then got "saved". Damn, just time to pull the plug.
why would you expect an increase in bonus going from M2 to P4 level? you're actually pretty fortunate to have stayed the same instead of decreasing.
Ps don't matter, sorry.
You took a lateral move at best, with no management responsibilities. Why would your bonus go up?
its neither. bonuses are funded at the prior year level plus (maybe) a few percentage points. regardless of job moves for internals. this is why internal moves are no longer a way to generate income increases. also helps to have extra flexibility when hiring external Chase folks, since external offers can contain bonus committments
M2 bonus is much better than P4. Who are you kidding.?