Who created the promotion to manager getting more work/ duties but the wage increases kicks in 9 months later?
Why we are letting the management ripping us off for the 9 months.
15 replies (most recent on top)
Because we work for them?
Some id--t who doesn't care about us having coverage or people in roles who know what they’re doing and deserve a promotion. And its not the case for all teams. CSA team under LaRue B in NYC doesnt have to wait and can snag your people, increase title and pay immediately. Plus pay them all as clueless admins the same that mgrs in operations areas get too . You know the teams who have to tell them what the F to do daily. Awesome process
I could quit, they could open my role, and I bet if I rejoined I’d get a massive boost just from that
Well they also give managers more responsibility with no raise or corresponding salary increase/bonus… ever. They do it because they can. You have to determine if that is acceptable or if it isn’t you need to leave. Labor market is still pretty good. Leave while you can or accept the additional responsibilities without additional compensation..
I know it depends on if the 31st of the month is a weekday or not. But I always try to call sick on bottom half of months with 30 days or February. Because the wage/days work=daily pay per check during the bottom half of the month is higher than the 31 days month. Well, sometimes I calculate with Holiday in mind too.
"The company does not short employees by paying bi-monthly. Base salary across 24 pay periods vs base salary across 26 pay periods means more per paycheck in the bi-monthly model."
I mean the non-exempt hourly wage employees; they lose 1 week of pay check due the the 2 checks per month pay cycle. If BNY pays bi-weekly, the 31st day of the month can add on the next week paycheck. I know Feb is 28 days in a month. So 7 months of 31st minus 2 days on Feb. The non-exempt employee lose 5 days of pay per year. sometimes the 2nd half of the month can be 16 days vs. the first half of the month is always 15 days.
The company does not short employees by paying bi-monthly. Base salary across 24 pay periods vs base salary across 26 pay periods means more per paycheck in the bi-monthly model.
I saw this happen to a coworker. He refused the promotion until the pay kicked in. Getting them to do the immediate raise took L2 approval.
After reading this post i feel like i need to watch 10 more checking in and principal videos to heal myself
I have worked for few different banks; only BNY Mellon is doing this nasty trick. All other banks will increase the manager wage on day one as Manager. Also, the pay cycle which pays on the 15th and the last calendar day of the month; BNY can save 1 week of pay by doing this vs. paying bi-weekly. Another nasty trick to rip off one week pay on non-exempt employees.
Same person who makes you an officer to avoid paying overtime.
You are accepting it therefore they get away with it and keep doing it.
People should refuse the extra responsibility until they get paid for it.
Yup this happened to me in late 2020. I became a manager within that month
But didn’t see the pay increase until the following June. Close to 9 months there. My boss had to wait a over a year to get his bump.
It’s been this way for a few years and has impacted those who got promoted. Consider yourself lucky; I got all the work and five direct reports day one; and the title and pay increase 14 months later. Oh, and I also got no merit increase either.
Sorry dude , they are ripping us 24/7/365. Tell me one thing management have given us besides some stocks …was it 6 stocks after tax lol - spread that out over 3 years and there is your gift lol