0.5% raise AFTER being an exceptional performer????
I got much higher raise when I was SP last year.
Yes the higher bonus was something I expected.
But negligible increment seems like a strategy to keep employee on their toes and live in uncertainty about their future bonus.
My manager seems to be the biggest snake, how the he-l does base pay raise work????
Fidelity is usually not clear on a lot of things, but on raises they are VERY clear that your performance has nothing to do with it. None. Zero. You can be SP or EP it won’t sway it at all. It is all about 1) Market pay for the position and 2) where you are in relation to the mean for your position. If you got hired from outside you likely are starting higher on the scale, thus raise will be lower. If you are lower on the scale you’ll get a better raise. If the market says your position is less competitive nowadays, you could get a low raise even if you’re below the mean. Fidelity doesn’t take inflation into account it means nothing to them because they don’t see any reason to pay more than the position is worth based on whatever they assess market pay to be.
Raises are not determined by your performance. They are based on others with the same position as you, and market pricing in other areas for similar roles as you. If you already make close to the average, and someone else on your team (even if they do nothing, and are a poor performer), they will receive a raise to get their salary closer to yours/others.
@OP Do yourself a favor and get another internal job. Fortunately, a new department can change a lot. Unfortunately, that also means bad managers can move around, too. So when you find a good role and a great manager, let them know, because they are like unicorns.
@d6 what is your role?
You got a raise? I got 0%, and the EP rating for my group.
@an do you seriously think considering the inflation, rising costs due to tariffs, a 0.5% is justifiable???
In what way does this negligible increment per market???
Funds may have been reduced to help ensure the staff got pizza throughout the year.
.5% is just insulting- start looking outside of Fidelity. That's the message the company is sending you.
Enterprise technology seeing lot of raises for SVP's! Come to ET if you are above 50 we are hitting, if you are below 55 then you won't get anything
Management has very limited influence over salary increases; they’re primarily determined by market conditions. Human Resources generates suggested raise amounts based on where an employee’s current pay falls within the established range for their role. If someone receives a higher-than-average raise, it typically indicates that their compensation is currently below market benchmarks.
Please go watch video on Understanding you Pay. Raise is market driven, not performance!!!
Did you get shares? No shares and no raise
I got a 6.5% raise.
I’m thankful that people don’t come into the office, and get rekt on their bonuses and pay raises.
I’m totally mid but got great bonuses and pay increases because so many people don’t meet their in office requirements.
:)
Wait, you guys are getting raise?