Managers were just notified.
Remote employees will get in lower pay raise pool than on-site people. 0.5% to 1.0% lower.
Also it is confirmed that all remote employees will be moved to geography C on December 21st.
No mention of the actual pools or comp ranges overall.
This has the potential for someone moving to a C from an F, to be so far above the midpoint that they will not see much if any merit increase in 2026.
What do merit increases typically average? 2-2.5%? So a remote worker could see as high as a 40-50% reduction in merit in 2026 before any geography changes.
Fu-k this company.
@ad No. But expect medical exceptions to be approved for shorter amounts of time.
@af like Elcio said in the all hands "just relocate!" 😉
Sc--w this wretched company.
Correction. If you are remote and you are in a or b which is lower than C then your geography will NOT change. You will not get a big bump up in terms of the comp range.
So technically not every remote employee will be in geography C, just the ones that were in D E and F are changing.
Original poster - THANK YOU for sharing! Nothing is worse than the angst of knowing something is going on but not having answers.
@af if all they are doing is copying their big brothers then yes. Add to that 4+ days in office per week as well. It’s all a part of the big bank playbook.
Is this move legal?
And they pride themselves on being ethical! Yeah right.
(Captain obvious here) - This is just the start of a move to 100% in-office/hybrid. What's next? Relo or be laid off?
Let’s put our minds and souls together and return the negative energy ten fold to managing committee.
@ac if it's a medical ADA exemption wfh are you still downgraded E to C?
@a9 For most it means we’re not getting jack sh-t. In E now so getting downgraded to C. Likely not even 1% increase based on this revelation. Punishment from GK for being remote.
So all the early assurances about nothing changing for the remote employees was in fact a lie. They're just manipulating us at key moments and then boiling the frogs when they can. So much for ethical behavior.
What does geography C mean?
Yeah just seen this disaster. Gunjan and managing committee - you are all disgusting. Employees- it’s time to eat the rich.
So sad. Anyone know of banks or companies embracing remote work?