Is the bank sending a message to experienced technology associates that they want to replace them with young people from other countries at 2/3s the pay? What do you think of this year's raises and bonuses?This is a year when the bank did well financially?
Any concrete information would be very helpful. Any suggestions on how experienced people can continue to work hard for raises.
@LJMjJPi-2rvb, I've had this before. Manager says great performance but can't do anything merit wise but definitely next year! Next year came, manager had left for another bank before the end of the year, new manager says can't honor what previous manager did (kind of a meek guy with ego problems) but if I prove myself he will do something - still waiting! This manager is obviously not as competent as the previous one as he is still here.
To - @LJMjJPi-2rvb; I received the same feedback from my manager.
I got neither. No bonus nor merit. Manager said it does not reflect my performance just no budget... not sure about that.
On the merit side, it's not how valuable or how good you are, it's how much you s--- up that will determine any awards. This is not unlike most other companies only here it's taken to an extreme where any signs of not s---ing up 100 percent are signs of gross incompetence and negligence and must be eliminated immediately to eventually reach the 200 000 employee goal.
On the business side pools were flat and merit was budgeted a bit over 2.0%. Hope that helps.
This is not an advanced technology company nor are any of the technologies state of the art. As a company getting 2 Indians for the price of 1 with a free pen and coffee mug, makes perfect sense when the big guys don't understand technology anyway. State of the art here is copying what Goldman and others had 20 years ago!
You have to leave or move to another role at the bank to get a raise. They will ALWAYS screw you with merit and give an avg of 2%. Many people will be below that.