BNY calls it “guidance” but there is a QUOTA for “below expectations and unsatisfactory”.
We are REQUIRED to have a specific rating distribution for each performance cycle.
If years of layoffs have let go of the actual underperformers, there is no one left that is truly BE, especially considering the burden and stress we all now have.
But BNY’s diabolical mandate for “continuous improvement” raises the bar despite inreased workload and stress: the quota of BEs must now come from the people that would have otherwise been “achieves”.
No doubt there are still good people getting great ratings, but there are also good people getting BE because... that’s just what BNY requires these days.
Why? Always... follow they money. BEs, tell us if you still get raises and bonuses, and if you can post out of your position, or are you just stuck there? And do BEs get “packages” when let go? Let us know!
This is the sort of company we work for. Let that sink in, no matter what your rating. And if you are ever let go or can quit, just think: good riddance to a really awful employer.
If you can get a better job, jump at it. And if you are thinking about working at BNY: we told you so!