I am a manager of a sizeable team and an associate came into my office yesterday in tears. She is having trouble making ends meet -- her rent has gone up 15% over the past 3 years, day care is increasingly unaffordable AND her salary has been flat. She knows the company line that everyone's salary has been flat. That is ... except for the EC. ... We see each year when we get the disclosures how T and her cronies give themselves HUGE raises, like 10-20% per year. Yet the rest of us get NOT EVEN A COLA. they talk about culture and obsess over the culture survey but this is what is on people's minds, not some "you asked we delivered" garbage. It'll be "interesting" (make that "depressing") to see what kind of raise they give themselves this year. It's insanity. If you are going to broadcast that we care about culture shouldn't they SHOW LEADERSHIP and take a PAY CUT to show us that everyone needs to sacrifice? Or at least say they're not taking raises? Or maybe $20M is not enough for her .... given the ostentatious display of her glamor life plastered all over IG, bragging about how she is a part owner of a basketball team, while hardworking colleagues like mine struggle to afford day care and pay the rent.
13 replies (most recent on top)
@zb that’s with the new rating
@yj that is based off the previous bonus structure of a 1-5 rating scale. One can almost guarantee you won’t get that much with the new 1-4 rating scale.
@y8 don’t waste your time trying to get in here when so many of us are trying to leave or are being forced to leave because of RTO policy that makes no sense and closing multiple offices. The grass is only a little greener here because of all the manure for now but will brown up very soon.
@y8 target bonuses are pretty standard and generous the higher up you go, with high performers getting up to 200% of target
Is TIAA giving better annual bonuses to make up for the lack of raises?
Disclaimer: I'm not a current employee, but I'm considering applying for a position of interest to me.
@m6 you are one ignorant s-b.
If people are not getting a basic yearly cost of living increase yet property taxes, groceries, gas, wear and tear on cars, and the basic necessities prices keep going up each year… these folks are not living outside their means they are trying to get by with all the change around them and as TIAA loves to say - “do more with less”… and are struggling.
Have some damn empathy. One reason many people are not moving to Frisco from Denver is the cost is significantly higher in many areas including property taxes.
It’s not living outside our means to want to live somewhat comfortably without having to take out loans to accommodate lack of pay raises for 3 or more years.
It is simple math but evidently you failed basic math and economics 101 in college if you even went to one.
If someone made $100K in 2022 and has not gotten a raise since, then they are still trying to get by without a salary range increase between 6K to 9K, where they should as COL should be at least 2-3% increase each year. It doesn’t matter if they make $60k or $145k everyone should be at least given that COL increase in pay and more than that if they were a high performer. Don’t get me started on the hourly associates who are limited or prevented from any overtime pay.
This is the unfair scenario between worker bees and the queen bees at the top.
This means that they essentially took a pay cut to keep a job for a company that pays executives more who do less or barely any work by comparison.
If u wanna complain about no raises for 3 years as bad management, that's fair. The tears over not being able to afford rent, etc, though, are not good ways to make the point.
The average total comp at this company is way into the 6 figures. Saying people dont live within their means at that pay level and need a raise sounds like we're being paid minimum wage.
We should get raises because the company can afford it, because the market calla for it, and we'll lose our best people if we dont pay market. We should not being paying raises just because someone lives beyond their means. Trust me, 95% of this company is not making under $100k and struggling to get by unless they think they should live in a McMansion, buy fancy clothes, and send their kids to private school.
We need to be tight on why we need raises, and it's not for the reasons the op said.
There are other great companies and jobs out there.
Develop additional skill sets, pursue certifications, etc. Make the most of the time at TIAA while looking for another job.
I don't understand how the EC keeps getting raises. The latest financials for Q1 were posted online and we had another $400MM in losses from Operations.
Anyone else having issues accessing the comp disclosure on the TIAA public facing website I.e. it’s no longer available?
It is amazing that they get annual raises and big ones on top of already huge pay packages and people doing the work don’t. “Can’t wait” to see this year’s pay released so I can ba-f in my mouth at how an empress who has no clothes justifies her insanely high pay.
There is a reason we call the CEO Temu and the board a “rubber stamp.”
I'm hearing no raise again. Just a rumor. ...work with her on getting a side hustle or pt job.