I started in January as an engineer and was told a 5-10% merit bonus is typical. Other engineers under my manager have said in past years they have received bonuses. Is this true? When do we know if we get one and when are they paid out?
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max 1.5% for my for the past 5 years.
Bonuses depend on role, level, salary, performance, team/pod, etc. It fluctuates. I believe they decide on numbers by December. You are communicated the numbers by your manager about 2 weeks prior to receiving and I believe they’re distributed end of Jan or in February.
With BNY making record profits and the stock price at record levels employees should receive record bonuses……right? Of course the current senior management will most likely manufacture some excuse to sc--w us (except for themselves of course).
Depends on your org, engineering function and grade. Assuming you are an analyst/associate/senior associate, expect 5-20%.
They pay new grads better than older folks on average.
The recruiter cant tell you anything about bonuses and shouldnt since the merit/bonus pool changes and you never know whats going to be given each year if anything at all
to be fair. Both times I was d-mb enough to work for Bny, the recruiter lied their a-s off to me about what the bonus poll was.
& I know a lot of other people that happened to at that dump.
Why don't you ask your recruiter before you joined?
Bonuses are paid out end of january.
Numbers aren't usually released until a few weeks prior to receiving it.
When you say merit bonus, do you mean merit increase? That is also communicated when bonus numbers are but don't take affect until March i think.
Merit increase was usually 3% max for me.