https://www.bankingdive.com/news/bank-of-america-moynihan-35-million-capital-one-fairbank-incentive/739692/#:~:text=The%20growing%20use%20of%20AI%20in%20banking,-Banks%20are%20enthusiastic&text=%E2%80%9CThe%20Company's%202024%20performance%20was,a%207.6%25%20increase%20from%202023.
10 replies (most recent on top)
@a5+1jmhty9n5 - correct. Your year-end comp will be reduced by the weeks you took Sabbatical. (ok, so that's pretty much a given. They tell you that upfront.)
But then... you come back (IF you come back) like my teammate to find that your year-end comp/bonus STAYS down into the next year and is further REDUCED b/c "the pool wasn't good this year".
It's pretty much a permanent reduction.
But sabbatical is great. Just don't take it if you rather have the $$.
"Keep your costs of living low and after 15 years here,"
Let me see if I have this correct. You want to waste 15 years of your life
when you are probably in your prime behaving like a hermit so that you have
more money to spend when you are older and your body is breaking down
so that you can barely do anything.
Got 12k raise and 5k bonus this year!
Or 12%... I still don't believe it
Let's be honest, overall comp (salary/incentive/shared success) is down 20% in 4 years??? I don't believe that. If talking adjusted for inflation and increases in bank shared benefits like medical, yea, 20% seems on the low side. Which is it OP?
I'm down around 10%, and that's not even including factoring in inflation. I've always placed a high importance on work and have usually been marked as an exceeds, but at this point it's really hard to find any motivation. It's just sad.
I’m down a lot more than that, and couldn’t give a &$-@ anymore. Pay my base for a part time job. That’s all I need or want from this sh&t show of an organization. When the next hiring frenzy happens in my segment, I’m gone.
Re: @aa+1jmhty9n5
Keep your costs of living low and after 15 years here, I'd imagine you would have a pretyt nice savings. Then, if your coworkers and manager pull that nonsense when you come back you can give em' the big ol' "F-U!"
Enjoy your sabbatical because when you return everything will be dumped on you. Pretty surreal how petty coworkers can be so angry you took your well deserved time off. I don’t think employees understand that you have to pay for the time off. No free rides here at all.
I’m down 9% and feel your pain. No salary increase for 3 years. Incentive, which was 33% of my total comp, decreases every year and I have no control over it. I’ll be taking a sabbatical this year so I’m sure they will dock my pay even more. I plan on retiring in less than 10 years so just hanging on.