Thread regarding Truist Bank layoffs

What is the pay scale for a managing director?

I have been at the bank as well for 10 years with the promise of a promotion during the merger than never happened. It only gave me a good reason to work less which has been easy.

10 year wage slave here in the same pay grade, was told post merger they would move us up but here we are. Truist Cares!!

Unless the bank’s pay scale has been updated very recently, the pay scale listed here is not accurate. Also, keep in mind that the pay scale listed is a pay scale for major metro areas. The salary ranges would be much lower for rural areas. Also, a much better gauge would be to list the minimum and then the midpoint.

But but but……Donta said “it’ll all be chill, yo”
More lies…..

I can speak to grade 109 with 10 years of experience (1 grade away from being Bonus eligible, damn). I've seen these before my contract to hire took place. They definitely do not offer mid point most of the time, they did about 10k under midpoint for the entire team "for grade 109" for what we do. We do have a few grade 110's that are between 110k and 119k + 15% bonus, this is all lead positions or ppl who have been there 15 to 20 years. But I wouldn't get your hopes up for the midpoint, the pattern seems to be mid point is on the higher end and you gotta really be top tier talent who can throw your weight around to get above the midpoint. Strictly for 109 to reiterate lol

"...To your point about finding this stuff -- the Intranet/Source/Insight whatever you want to call it here blows SO BADLY. So I don't blame people at all for not being able to find stuff like this..."

No, this can't be. They have all those cliquey Psychology Ph.D's in Raleigh working to "improve the experience". Are you saying that they are ineffective?

You earn what you are paid. Free market economy. Go somewhere else and get an appraisal on yourself if you think you are u derpaid. All these posts: we are overworked, we are underpaid, we need to unionize. All libtard comments. Here come all the arrow down votes but the fact of the matter is you control your own career. Everyone wants to be taken care of. Take care of yourself.

Agreed that new hires are not being offered midpoint. That’s an educated guess based on people I know who’ve interviewed recently, publicly available salaries like H1B prevailing wages, and posts on Blind and Fishbowl of actual offers and negotiation.

This is still relevant and helpful info for many people though. Haven’t we all heard horror stories of long term employees being severely underpaid but only realizing it when the merger adjustments were done? Or when they realized they had to offer more than their own salary to hire for lower grade positions under them? Or even seeing an H1B notice posting for more than their own salary?

“Where Truist is right now”

Mediocre performance, layoffs, spending on toys instead of critical infrastructure, and an expanding executive team that rewards itself handsomely for failure.

Not being paid fairly and not doing anything about it is the mentality they hope you have, fear you might lose your job. It’s my observation that very few people will ever create a life where they don’t have to fear a layoff, that requires discipline. So, instead they take the corporate beat down indefinitely with silence and hoping to survive until the next round of beatings.

@wly+1qj2OSUQ I realize this is info that can be found and not 'leak' -- but honestly this thread is way more constructive than "IT su-ks" or "TIS is in shambles." It was starting to just turn into a venting fest on here.
To your point about finding this stuff -- the Intranet/Source/Insight whatever you want to call it here blows SO BADLY. So I don't blame people at all for not being able to find stuff like this. I'll 'search' something on our intranet and get results that are 95% irrelevant.

If you think they “offer midpoint” you have no idea how pay grades and comp ratios work.

Posting this like it’s some juicy leak; people commenting like OP is a hero. If you work for Truist, this is the easiest information to find. It’s not at all hidden; direct link from insight homepage. This is another great example of how worthless this board is, due almost exclusively to how uninformed/misinformed everyone here seems to be (to the extent that I’m wondering if it’s a choice or if everyone is really that stupid).

An additional question to ask is also, does my grade reflect what’s actually expected of me? Or does my boss make 80k more than me for doing much less?

Most people have never seen that grid and/or now what pay grade they are. And as far as being paid fairly: you are really going to argue it given where Truist is at right now?

Now we're talking constructive threads. Good stuff.

Leadership, so anyone 3 or 4 levels below the CEO, is generally at a 114 or higher. So total comp of over $400k to mess the bank up and sc--w the rest of us over.