Surfacing a sub-discussion from another thread… yes, in general, the TDA folks get a higher bonus percent. Happy to hear whatever you are willing to share, but I am a Sr Manager (non-PL) who gets 20% - my understanding is that is a Schwab director rate. Or more if I ki-l it. So was annoyed last year when we got 70% payout, because I would prefer to be at like 10-15% like my peers - IF they built the difference in to my base pay. As I understand, that’s exactly why they left the TDA percentages the way they are, after promising not to…
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Funny…Tommy Scallops and Sy were smart, until they got too greedy…
"Nice, those bonus percentages are great. Were they generally funded at 100% payout?"
Depends on how the company did. I think worst year I saw was around 90% (bad markets), most years were quite a bit more than 100% as the bonus funding was tied to EPS and mgmt was conservative with numbers. I think one year we hit something like 130% funding.
Also I don't think you could take money from those below you... e.g. C levels couldn't take 200% and cause those below to have a smaller pool.
Ameritrade forever.
I would rather have a higher base salary and a higher bonus.
I would rather have a higher base salary than a higher bonus, that’s paid once a year.
"....I think Sr Manager PL was at 25% at TDA, with Director PL & IC at 40%... (yeah there was a big jump there). I don't recall if anyone had a 30% number."
Nice, those bonus percentages are great. Were they generally funded at 100% payout?
comp is a disaster, all bonus plans are different, and for whatever reasons, HR doesn’t think standardizing it may be healthy for ‘brilliant basics’. Leaving and coming back is more rewarding with ABO as the did standardize % for new hires but existing folks just got their base ABO $ converted to %. It’d make some sense now to standardize the workforce based on code/level. But I wouldn’t count on it as that may be more efficient.
And you are not. That is the TD difference.
Smarter than Walmart cashiers? Agreed.
TD folks are smarter and they deserve more.
Those percentages are blue side. Someone I worked with Sr. Manager (non-PL) also got 20% and they were with Schwab for over two decades. I was a Manager (non-PL) and was getting 15%. I'm pretty sure that is all out there on MyHR.
As long as we’re reminiscing about companies that no longer exist, anyone else miss Blockbuster or Radio Shack?
Yes. TDA had higher bonus but lower base pay. The logic was, the higher up you were the more you could impact the bottom line of the firm. Would love to see Schwab do the same thing but it's hard as you would have to somehow reduce base pay and increase bonus, maybe if you timed it right at bonus payout you could do the adjustment (as long as you gave everyone advanced notice).
I think Sr Manager PL was at 25% at TDA, with Director PL & IC at 40%... (yeah there was a big jump there). I don't recall if anyone had a 30% number.