Now that the bonus has hit your checking account who else is giving their two weeks notice on Friday?
22 replies (most recent on top)
@5seq+1r5iaWnB - there are different categories of RSUs with different rules.
Others may have more, but I only have two types:
- Shared Success RSUs, which you lose if you leave prior to the annual vesting (which is why they love that program b/c they get good PR for announcing but don't have to actually pay it out)
- RSUs paid as a portion of YE Bonus (used to be all cash, but is now part cash/part RSUs), which I EARNED!! It's part of my PAY. Read your Award Document (PDF on Workday) when you accept the Grant. These vest over 4 years as well, BUT the vesting is by MONTH worked following the award date. (12 months x 4 years = 48 months total). So, you receive 1/48th of the RSUs multiplied by the number of months you have worked since accepting the Grant. If you are not terminated for cause and do not leave to a competitor, you are paid the accrued portion. (might only be 1/48th if you leave the month after, but hey -- you earned it. If you have even 2-3 years of these, might be a nice bottle of wine to celebrate your freedom. Don't leave a dime on the table!)
There are other RSU/comp programs for MDs, execs, etc. Like different classes of shares. Others here likely know more about those.... but yea, I won't stick around for those Shared Success RSUs either.
I'll quit on Friday too! The next Friday after I pay off my mortgage.
You get nothing with RSU until after it’s been 4 years. Im not hanging around another 2 years just to get $4k give or take. It’s not going to make or break my retirement plans.
look at what BAC retirement gets you, NOT much. we get platinum for being an employee but your goal should be to meet/exceed that deposit amount. The other offered is pennies. Rule 60 does not give you anything as a goal.
if you invest all paycheck overages you exceed all above.
in summary, invest now. if it's not in your account, you get nothing.
I take advantage of everything. I will retire in <=24 months and i will give a 2 week notice. No point in going through the retirement process because if you plan and use BAC investment resources you will exceed any benefits offered.
good luck
On track to retire at 59.5 with around 3M in 401k. Been maxing out my 401k contributions for decades, even when not making that much. I drive a old car bought with cash and spend very little. Have no debt and our house is almost paid off. 401k is going to be the ticket to freedom ... Just got to make it another 10 years 😭. Wish me luck.
Quitting now is fine as long as you meet the retirement rule of 60. Giving notice last Friday puts my end date as of 3/1 which means I’ll receive the full pension pay out that happens in the next two weeks. In fact, as a retiree, I’ll even receive a prorated pension contribution for the 2 months worked in 2024. Same goes for restricted stock shares. Finally, by selecting a 3/1 retirement date, I’ll get to keep health benefits through the rest of the moth (3/31). Highly recommend that. Not to mention retirees get to keep all their employee banking accounts/preferred rewards status indefinitely
Why now ? 401K contribution of 2 or 3% coming this month + 3/1 and 3/15 RSUs So giving notice before 3/15 is not smart unless you have a new job requirement for NOW.
We will see some exits after 3/15. No packages coming so those wanting to retire will give up and leave.
See the rest of you this time next year. Same discussion different verse.
B4 in Claire’s org - gave two weeks notice in writing, manager is like what’s going on
Nobody gave a notice but 75% of my team was off today - either scheduled or called out. LOL
It was eerily quiet today.
I gave notice today. B4 in Deans org. It’s time.
sure you guys are B2/B3’s with fat bonus/pay
Nobody is. All talk, get back to work.
Not going anywhere, love this place!
Exactly...What bonus? It must be nice to complain about the company and still receive a bonus. My bonus is still having a job and dealing with the same cr-p as before. I am still figuring out the RSU as this may be considered a bonus to some but not with conditions.
For some, leaving the company may be the best option considering that some groups are worst than others. Even though I am currently in a good group (today), I still consider the benefits as primary reason to remain with the company. This can change to include the hybrid WFH policy.
if you have a new job better than BAC, great for you, good luck. All others, learn how to make BAC work for you, set your schedule using VAC, PTO to improve work/Life balance, thats your job. Invest $$$ and when you've had enough, grew your investments enough, leave with no regrets. Because, nothing will change and if you don't like it now, you want like it later. Get yours and get out.
I didn't get a bonus or a raise.
Why would you be upset about a 60 day notice?? Chances are they won’t make you work all of it, so you will be off until you start your new gig.
I am giving my 2 weeks to this shilthole bank. This place has been nightmare to work for the past several years. The constant promotion of id--ts that can't lead or motivate a team has gotten to me. I have never seen so many incompetent mofos in leadership in my life. Many of them got no dam business being in their positions. The constant cr-p they put on flagshlit everyday. The CEO BM going on CNBC talking shlit on how good it is over here at this shlithole bank.
for me Workday showing 0 days and Flagscape 2 weeks
you know what s*cks just as much - I used to have a 30 day notice requirement, now it is 60 days and I have no idea when that changed, or why, and was never notified....glad I checked since I wouldn't have known if I hadn't checked... so 2 weeks would be great if that even exists MAKE SURE YOU CHECK (workday)
How much will you end up leaving due to there insane 4 year vesting schedule they did for years?
Not yet…still waiting for RSU vesting ~ mid of March.
It’s time to say good bye after