I heard managers submit that detail this month? Have they already submitted?
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yes, they always start in late July-Sept with several rounds until the drop dead of Oct.
Then, the wheeling-and-dealing among 8 LOB heads and staff units all whining about how their portion of the pool is not enough. This then continues back-and-forth thrue 1st week of Dec.
Then, the board has to vote in January, which is why you never hear until the end of that month. (and there's usually some last minute finagling and skirmishes up to the minute of the board vote)
So, it takes them 3.5 months to land on the total pool and how it will be divided across departments.
That is why you have to submit your ratings in Q3, instead of 4. And why middle managers have to begin inputting target comp in Q3 as well.
I believe this is similar in other large banks. It's not like they can maneuver the Titanic very quickly at year end.
@ch Albany, go back to sleep please.
@d6 We're not stupid. Raises, comp, bonuses, etc are all tallied BEFORE your EOY.
@dz It's always been this way. Your year-end performance is rated before the year is finished, using goals they decide to share with you after the first quarter is already over.
Our team had to submit individual and team accomplishments for 2026 by Oct 12th. Insane that 2.5 months left on the year essentially doesn't count.
@cn clearly you aren’t a manager. Comp decisions are not entered in October.
Yes, they submit compensation decisions for 2027 this month. 3 months before they decide what your performance rating is for the year.
Correct!! I just gave myself a $50k Bonus!!
Green Grass in Albany!
@a4 Also accurate. In short, the the time we get close to the end of Q3, your financial and career future are encased in concrete.
@a7 Accurate
@a4 when do they submit those this month or due by when
Preliminary year end ratings are this month. Comp gets loaded in December.