Or is this just fluff language and means nothing to employees??
Only the execs get to celebrate and share the success with each other??
23 replies (most recent on top)
They announced last year that Sharing Success is an annual thing now. How much we will get will be announced in January of each year.
Any actual info on raises and bonuses? Should be about the time to get notified (although I have not yet had my chat).
@6hoe+1kF80vRB Replying to myself - Doh that e-mail is explaining the 2022 rewards for people as there is some vesting about to happen. I looked back and it was January 25, 2022 when we got the 2022 reward announcement. I'm still hanging onto hope that we'll get something. It's a retention oriented award anyway.
FWIW - This morning, I received a "Sharing Success" email invite to a meeting explaining how RSUs work, but have not yet seen a "Sharing Success" article from Moynihan out on Flagscape.
Yeah, right, stack ranking for you!
We’re not even going to get another 20 shares. Lol. This company is a joke. Just milk them and do as little as possible.
Our benefits are soooo good that we use my wife's employer medical and dental benefits. During a recent interview, I was told the 135K I was asking for was "entry" level PLUS a 10% bonus min, and up to 15%.
So yeah, keep telling yourself the lies while drinking the company cool-aid.
I just got my portion... a heart felt "thank you" email directly from Addy. Taking THAT to the bank!
CEO BM doesn't give a rats azz about any of you sheeple. He is only concern about shareholders and getting them the best return on their money. He is also going to make over 40 plus million in salary and bonus. This CEO acts like he cares when he is on flagshlit standing with employees like he is with us. This dude is one big phony with his fake azz smile.
To the teller who put down my comments about who gets what raises. I am not speaking as someone in a flunky / no skills teller position. I am talking about senior technology positions and how managers behave at that level.
@2bso+1kF80vRB They’ve got you fooled! You’ve bought into all their hype around the “fantastic benefits” - that’s laughable!
First, we hardly pay “peanuts” for the benefits. And the ones who benefit the most on childcare reimbursement would be the company and their tax write-offs! I was actually advised by my accountant that I’d be better off not requesting that childcare reimbursement!! And you mentioned HSA & FSA.. uh, those are funds that come out of our own pay and offered at most companies so not sure what your point is there?? Parental leave.. only applicable for a small percentage of employees. 401k/matching and 4 weeks vacay.. again, offered at most companies nowadays- and those companies even let their folks WFH 100%.
You weren’t listening. He said expenses were over $61mm and that was too high.
@2bso+1kF80vRB You lost me at "U get probably the best benefits package out there and pay peanuts for it" - you are either very gullible or very ignorant.
Tell me, when was the last time you got a cost of living raise? I guarantee you these raise you claim to get are not higher than inflation, so whether or not you realize it you are actually making less each year than you did the year before. Think about it...
To: Post ID: @2bso+1kF80vRB
Do you even work here. Show me a full time teller?
You people are laughable. U get probably the best benefits package out there and pay peanuts for it. Minimum wage will be $25/hr for tellers. Ge-z. And u are complaining about compensation? Maybe all of your complaining shows in your work. I'm happy where I am and every year I get a raise and bonus. I'm no suck up or management either. If u aren't getting a raise or bonus, look no further than the mirror. Im not in management and have been here for 10 yrs. I make decent money for what I do, plus 4wks vaca, hsa, fsa, 80 hrs occasional illness, 11 holidays, 16 wks parental, child care reimbursement, 5% match including a Roth 401k??? Get a grip people. I challenge you people to find a corporation that gives you all of these things. I repeat, if u are starting as a teller you are going to make 52k! Are u kidding me? And u people complain? Get a grip or get a job a Walmart. You are the people I see daily with a snarl on your face that are "inconvenienced" anytime you are asked to do something that is your job. That, and that alone, is why you are unhappy.
Cronies and favorites will get decent raises and bonuses no matter how lousy they perform. The rest will get peanuts no matter how well they perform.
Seeing as though we are in a hiring freeze, bonus cuts, and expense controlled environment I would say no.
The words were total fluff. No idea why they would say all that when they know we will not get raised and be paid down. It's truly irresponsible of BTM and AB to use those adjectives and make everything sound so positive.
The words did not match the numbers at all.
While there was a sizeable profit, revenues and the profit itself were down from last year, which gives them then excuse to put in a hiring freeze, no raises and reduce bonuses by 30% for those even eligible.
The fact that BTM is paid 825x the average teller is OBSCENE!!!! The entire management team and board should be ASHAMED.
If you want to profit off the success you need to be a long term shareholder first and foremost.
While I have a decent amount of BoA shares I know they will keep operating expense low by limiting raises and incentive pay. The trade off is that there are no layoffs.
That's why as an employee I am committed to doing the bare minimum to meet expectations while I build my other income streams. Remember if you work twice as hard or twice as fast you don't get paid twice as much.
I do my best to give people I work with the runaround, delay all requests until up to the SLA and slow everything down as much as possible so others don't have to work either. This is a team effort and this is me doing my part in making this place a great place to work.
We were actually told on an all hands call that even though the year was good, we should expect ~30% decrease in incentive comp.
Last year during record profits, we were told there were concerns next year would be worse, so incentive comp would be down.
After 2020, when many in my org were working 12 hour days all year to support PPP and COVID related activities, we were told even though we had gone above and beyond, the economy was still shaky and incentive comp would be down.
Bad year = Comp down
Good year = Comp down, because next year might be bad
Nope, nada, zero, zilch, not a dime, penny or farthing. BM will score big time and we will still will have to search the car for dropped change to buy the Coke on the way to the office at the Gate Station.
Funny when he said the success isn't due to him, it's due to all of us yet many of us will continue to struggle financially and not see a dime.
$27 billion and we'll get zilch. We're just a gaggle of worthless peons. I really hope this enough for another 31% raise for Brian.