Seem to be a very tightly guarded secret
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Evidently the Operating Committee can't come to a consensus on the funding level. It'll be 'a few more days' before anything is communicated.
Anyone hear anything on this?
Be ready to hear something along these lines; you were rated [AT LEAST ONE LEVEL LOWER THAN YOU SHOULD HAVE BEEN] due to the calibration session above me. Nothing I can do about it. By guidance we can only give you [INSERT LOWEST POSSIBLE % IN THAT RANGE]
Kids🙄.
But will they be funded for this year?
Dude, it’s called a “BONUS”, of course it takes more than “meeting expectations”, and it SHOULD.
People are expecting bonuses? Astounding...
Look kids, they published some sample ranges for each rating a few weeks ago. Next week the disgrace of a tool CP&D opens and we’ll see the actual $s to work with. Hang tight kiddos.
@1zxr+ seems low to me too but I heard this info from a reliable source who in turn heard it from their leadership. I sure hopes it wrong - time will tell.
@1qoy This is not true. Bonus funding hasn't been set in the tool yet, but Meets employees are eligible for 95-105% of target. The 60% you quote seems low, but we won't know until Wednesday.
I learned today from a manager that bonus target levels were announced the day after year end ratings were entered. For anyone with a 3 rating, the most you will receive is 60% of your target bonus amount, after that target is adjusted downward because of company performance. Total b—s— we can all agree after they artificially crammed down the ratings - and don't believe they didn't hold "calibration meetings" during which they challenged managers to defend any rating over a 3 or why the team's ratings were not aligned with the rest of the company. Additionally, if a 3 is equated to meeting expectation (which it was explained to me by my manager that it does), should one being rated a 3 not then receive 100% of target? And while they screw us all out of our bonuses, they are paying millions to move permanent WFH employees from one city to another to align with some outdate "location strategy." We are all being screwed and if you don't see that - you are not paying attention.
We’ll know the funding level on Nov 18 when managers can begin making comp decisions in CP&D
We should know about bonus funding by first half of next week, I heard this year bonus will be tied closer to performance than in previous years and target will be closer to 80%.
don't forget that your % of target will be based on your performance which can be anywhere from 0-120%+ of your target. then that will get multiplied by the funding % which could be anything but probably between 50-80% this year. Initial guidance should come out next Wednesday but that can change between then and Mid January. in my group the last few years there have been a few adjustments between start and end. Hope for the best expect the worst.
80% funding tops
It will be telling how leadership handles the bonus pools this year. We are going from a 3 LOB bank to a 5 LOB bank. How the bonus pool gets divided among the new LOBs will be telling.
There is clearly a pattern to move back office/support roles to a more centralized support function. I suspect those groups will be materially affected with the bonus pool. I also suspect the distribution of bonuses to front office producers will be an indicator of what leadership thinks of certain individual contributors. I think it's yet another tool to force employees to leave on their own vs. being let go.
Hasn't been announced yet so no secret to keep. Next week we'll know.
Do you mean the funding levels? That’s not surprising as they haven’t gone to the comp committee yet..
Funding levels = ?
Not really. Not many will get bonuses and if you get your target bonus, feel lucky.