Got an annual raise of 1.3% as a TDGUS employee. U.S. inflation is probably in the 2.5-3.0% range next year (~2.9% for 2025?) - so I'm effectively getting a pay cut. Why does the bank think this is OK to do? I like working here, love my work, and enjoy collaborating with my coworkers. Rated middle of the pack - I'm not expecting a crazy raise or anything - but at this rate I will have to start looking for another role inside or outside the bank just to keep up with the cost of living. It's just depressing that to see $hit like this...
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@29m Especially those working in Agile @ Scale in the US, these roles are Non Standard , meaning they are paid way above the standard roles in TD. Few years ago they helped themselves to huge merit increases as well resulting in a golden handcuff situation.
There are some senior managers that need to go. Even though they have moved some senior managers out of a people facing role the bad smell is still in the group, even though they are remote
@1vq At least she will be gone 1/12. I guess the VP reporting to a VP doesn't work. I saw a few demotions when they discovered the AVPs/VPs they hired or promoted were completely incompetent. JPMC is laughing their a$$ off at dumping all their lackeys on TD. Pretty good strategy from JPMC, may have to pick up more of their stock.
@f2
It’s literally the worst place I have ever worked. Great people but the company - sheesh.
I was a QH with $0% this year “because there was a decision in our area to focus on the lower rung employees.” It’s taken mostly from the low-level executives and redistributed both up and down. The senior manager L11/12 and AVP roles at TD are the meat grinder roles.
They will lie and talk about AVP here is same as SVP elsewhere - it 1000% is not.
I think GTs is too heavy and all these executives are taking the most bonuses and raises
If you notice it is not abt who worked the most it is abt who kissed the A of they management more . Regulatory team su-ks and environment is is hostile due to Anzea
I work in GTS. H rating. Got a 2.7% merit. No complaints.
This is actually a REALLY effective thing to do - it's a Win-Win for TD - Salary costs are kept low and probably at least 80% of people will just sit there like good little boys and girls and take it and the rest of the people leaving can be back filled in India or their work re-distributed to their teammates. All of this leaves a pile of money to distribute to the senior leadership. I'd be surprised if some executive bonuses were not tied to increasing employee churn and decreasing average compensation expenses. Bravo!
Score Board on this Move: C-Suite 1 - Average Joe's 0
@f2 Yep, heard the same in GTS.
I know of 3 people our org that got 0% increase. I think the objective is to get people to leave. Especially since 2 of those people were rating QH or E. Clearly TD is trying multiple angles to eliminate headcount.
If the RTO doesn't work in skimming the herd, then maybe raises like this will have people looking for other jobs