what are managers seeing in terms of allocated budget as a % of total salary?
26 replies (most recent on top)
It's 3.8%, which includes $$ for Promotions, so the true value is closer to 2%, per past years.
@prh. If true, it is twice as much as usual. Just saying.
In my new job, since I quit Wells Fargo, I am getting 4.6% increase. Its 100% confirmed.
Plus, I don't have to worry about my company laying me off.
Managers are given a total dollar budget for merit increase. Following HR and LOB policies and guidelines they allot that budget to each employee. Theoretically a manager with two employees and $5000 merit budget could allocate $1000 to employee #1 and $4000 to employee #2. Thier respective % increase would be based on thier annual salary or hourly wage.
This doesn’t seem right guys. It’s pretty well known on here that Bei fought for 5% and won.
If I am not mistaken, gas and food and on and on went up, not down.
That 3.82 is the recommended amount. It will get trimmed up and down based on favoritism, your current salary percentage, and review rating to name a few.
So does this mean the favorites will get 5% or more and everyone else will get 2% or less? It is so random and based on favoritism and brown nosing.
Where do you see this in workday?
- 8 is a salary reduction in this inflationary environment
I'm also seeing just over 3.8%, but as others have indicated it could be very lob dependent.
Is the 3.8% for raises? Confused what this number means
The bank is a total shitshow, lower your expectations.
- 5% pay cut per Charlie
- 8 spread for my team over 200 FTE
Looks lob dependant, my group is more than 4.
- 8% makes it sound like someone wanted 5% and someone wanted 2.5% and they agreed to split the difference lol.
An even 4% would’ve been nice…
can confirm the 3.8% as well.
If true…3.82% is embarrassing. Can anyone else confirm?
What did anyone really expect? You know what the company is like.
The managers will see a lot more for them than the rest of us will get.
All they said was more than last year.
Yes, it's almost as though people have been lying about Bei Ling. If you can't trust the trolls on an anonymous website, who can you trust? Thank God this Nigerian prince is about to make me rich.
That’s a lot less than the Bei Ling rumour I’ve heard.
Current merit figure is 3.82%