Thread regarding Fiserv Inc. layoffs

I was told they will not even consider giving you a "just because we want you to stay" increase unless you've already got an offer from another company. But even then, do not count on your request being considered. I asked for an increase last spring; nothing happened with it. So I started looking elsewhere after waiting 4 months and got a great job offer. Even then, I wanted to stay with Fiserv because I had put 10 years into it. So I let my manager know and waited for a counter-offer that never came. So I left and now making better money with a much better company!

Apply at Chase, better company, pay raises and bonuses….plus we are continuing to hire and expand, no layoffs!

Here is my advice on quitting. Do it sooner than later. Don't wait around and watch your career die on the vine at a place with zero opportunity.

If they give you a raise to keep you, it will only be long enough to find your replacement then fire you. Fine another job while still employed, once you have the job/starting date, QUIT!

I was persistently asking for the longest time and responsible for one of the most important customer all I got was 3%! Needless to say I left soon after.

They WANT you to leave.

I have 90 days leftvat Fiserv.. They are doing away with my role. I have to say i am relieved. Looking forward to greener pastures and a fresh start.

My plan is wait until performance review to get the bonus and then start to look for new job. The rule of thumb is that your current employer will never give you more than single digit % increase. If your inflation is double digit then you are loosing money.

Just wanted to up-vote the advice of the first reply. As a line manager, with the support of my peers and boss (Director level), I’ve always been able to make reasonable adjustments. However that wider support is needed as I would never have enough money in my small pot otherwise (it relies on using someone else’s money from within your org).

The Merit Cycle hasn’t started yet (it will soon) so I would have that conversation now.

Just chiming in to say it’s not always bad to take the counteroffer. All you have to do is make sure you get a one-time bonus with the counteroffer. This covers you if they fire you after

Just leave. Fiserv compensation practices are beyond ridiculous, and you will get paid more (and treated better) just about anywhere else.

I was told that Fiserv pays exactly market rate. It is just that every other company is paying more than market rate.

(I am not making this up, this actually happened.)

Never take the counter offer. That will put a target on your back and you will be let go when it is not convenient for you.

After two years of minimal pay increase amid huge inflation, I doubt there would be any meaningful raise this year. It certainly feels like another round of great exodus is coming. Good luck!

Best move would be to have another offer instead of making one up. Yes, managers can go to bat for an employee they don’t want to lose. Will they is another story. If your manager is afraid of going to their manager then you’ve already lost.

“Annual raises are not a cost of living adjustment.” - HR

Honest advice - talk to your manager about what you feel you need. Just note your manager gets a pool of 2% of the salary of everyone on the team. So if you get 4% others are going to get less than 2%. Depending on the situation, I would see if they could do an off cycle adjustment (Market Adjustment). Meaning increase your pay not during the annual raise period. Keep in mind your BU’s HR might have different rules than other BU’s for this.

If you like your team/manager maybe give them a few months after annual merit to do the off cycle increase. If they can’t get it done, give the notice. In all my years being a manager at Fiserv, I was never allowed to exceed my cap during the annual merit process.