Just curious how much a typical raise is? 1-2K or could I counter for more?
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Please stop calling these paycuts "raises". The point of 1,2,3% increases annually is to keep up with inflation. Since inflation is out of control, we are taking pay cuts. Corporate loves to pi-s on us and call it rain.
The other trick is to re-org all the people they want to RIF into one team. Then they “eliminate the function” and there are no HR issues. So if you suddenly find yourself on a team that makes no sense as an org, your days are numbered
Your "Meets Most" comment in regards to RIFs are spot on.
I got a couple of them, and then, when HR gave me my 3 month notice of the RIF, I was told it was because of "performance". Later, it was adjusted to "COVID-related".
Funny. I never got any of these "Meets Most" on my reviews until I got a new manager, who had zero idea of what my job entailed. And given the fact that Fiserv reviews are based upon illusory goals that have very little bearing on your day-to-day job, it was easy for my manager to give me enough of a black eye.
My last few mos there, I could sense that my manager's emails were bering BCC'd to my manager's upper tier. I didn't just fall off the turnip truck.
I took a $10,000 pay cut to come to work @ Fiserv (long commute on my old job), but was promised a good increase after my 1st year. Each year, I got the 1%/1.5% raise, no bonuses.
I wouldn't expect a much different outcome.
That’s why the leader needs to keep
a large amount of C players on the team. The C players get a free salary and you can pay the A players. If you have all A players, you are screwed
I only negotiate compensation with my feet.
Raises are a joke, I typically have an exceeds on reviews and rarely get over 2%. There is no negotiation either. With that said it comes from the top down, your managers don’t have much to say about it either. If you get more - one of your coworkers is getting less because the managers are given an amount to divide between their staff.
Other than getting a demotion, how does anyone ever get above midpoint?? What a stupid inequitable system.
You guys are getting raises?
If you want to make money try working for a different company. Every two years or so.
As you grow in your career a promotion is where the money gets meaningful.
They also signal upcoming RIF during the appraisal process. If you get a Meets Most and have never received one before, that’s because they are building the list and looking for the paper trail that justifies the reduction. Getting a Meets doesn’t mean you’re safe because they still have some wiggle room with those.
1-2%
When I was a manager with Fiserv, in a typical year the amount a manager has to distribute is 2 to 2.5% of their teams total compensation. If you don't make at least a Meets Expectations, typically you got nothing. Those that Exceed usually get more, but that all depends on where you are in the range for your position. I had associates that were an Exceeds that I couldn't give as much as they deserved since they were too far over the midpoint for their role. I would say the most you should expect in the best of circumstances is maybe 4%, but that was pre-OFD takeover.
I have NEVER heard of counter offering on a raise at Fiserv. It's not seen as a negotiation - the numbers are set and approved usually in mid-February, so anything above that would not be part of Comp planning, but would likely be done separately as a promotion.
Typically 1-2%
You can counter, then they will counter with a RIF