As pointed out on glassdoor a couple weeks ago {https://www.glassdoor.com/Reviews/Employee-Review-PNC-Financial-Services-Group-E507-RVW102269233.htm} this whole RTO5 will be very expensive for us. Min $20/day parking. If you can find parking. Need to buy a vehicle? Do you have to hire a babysitter? Daycare? Cancel your evening plans because of traffic. None of this RTO5 makes life any easier for us or the public. And let's be real nobody wants to sit in an overcrowded office and listen to other people scream on teams calls all day. I could go on and on. This RTO5 may as well be called a pay cut. And like clockwork there is high certainty the C-level folks will see some sort of compensation boost before end of year. "Hey thanks for agreeing with my RTO policy and fu--ing over our loyal employees. Our board thought it would be nice to offer you a bucket of PNC shares."
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@f7 a lot of people were remote prior to 5 yrs ago too id--t. Those people who had been remote 10+ yrs now have to build it into their budgets to pay for parking, additional childcare, gas, car, food, etc. PNC wasn't an all in office company before the pandemic. Some of the workforce was remote and had been for years prior. So don't sit here and act like the entire company got to go home when the pandemic hit.
@gm Dum--ss read the post again. It’s obvious the context is people who have been working throughout the pandemic, and the ones in here complaining about rising commuting costs relative to the last few years. Of course the world fell apart for a lot of people and that’s sad but not the point.
@fy that’s exactly my point. They paid you regardless of your expenses. Pre-pandemic, expenses were “x”. During pandemic, commuting expenses generally went down. They still paid you, and maybe gave raises every year. Now back to work, expenses up and predictably higher than before. I’m saying what they pay has nothing to do with expenses; it has to do with the work you do and the results (“output”) you generate. So those years with lower expenses and stable salary represented a savings over a few years. That’s all I’m saying, which is why “but my costs are higher” isn’t going to wash as an excuse to avoid RTO5.
@f7 Not every cost was reduced some were completely eliminated. But sure as he-l the expenses you did pay were increasing year after year. So look at it like this 5 years of eliminated/reduced costs versus 5 years of gradually increased expenses.
The increased expenses out-gained the compensation increases!
@fz and as PNC tightened its grip on in-office work, the lower raises stayed.
@f7 Acting like life didn’t continue and people didn’t have to spend that money they were “saving”? D-mb@ss take considering how may people were already living check to check and then suddenly the world (and subsequent paychecks) shut down…
@ak
PNC did give lower raises during the pandemic and managers did try to sell a lower cost of living from WFH as a new benefit....
That's not how it works. A job pays you for your output while working. The "per unit of output" has nothing to do with your expenses. They don't ask you if you have kids, how far you live from the office, etc and use that to factor into the salary offer. Sh-t, that like telling your boss that you paid off your car and he decides to deducted $300 a month from your salary because you don't have that expense anymore.
@ak girl what!! Lmao I was so excited to not have to worry about gas, tolls, wear & tear on my car. Get out of here 🤣🤣🤣🤣
So it would be worse if you didn’t have 5 years of reduced costs….? Fight for your complaints; you get to keep them. But the fact is a lot of people had 5 years of no parking fees, reduced gas and tolls, lower child care costs, and everything else that folks are citing as going up now. Did you really think that would last forever? Assuming all those costs that are going up but also admittedly went away is around $250 or even $300/mo (much more if child care is considered), that’s up to $18,000 saved over the last five years. Pre-tax you’re talking around $24,000 in salary you didn’t have to spend on commuting expenses. Yet the company paid you, and you took it, and no one complained about paying you more per unit of output than pre-pandemic.
I get the pain and frustration of RTO5; I don’t like it either. But the argument of increased costs and “it’s not fair” doesn’t hold any water. Those costs would have been incurred without Covid but they weren’t. Many of us are ahead in this financial game over the last several years and they know it.
@ak I was celebrating the extra money in 2020. But keep in mind we were all in the middle of a pandemic, so it probably would have been in poor taste at the time to rejoice too loudly.
More importantly, I do the math on this, and I actually have less buying power with my salary despite a promotion and significant raise. PNC is not keeping up with inflation, even for high performers. From in the inflation calculator:
“ The dollar had an average inflation rate of 3.82% per year between 2020 and today, producing a cumulative price increase of 25.23%.
This means that today's prices are 1.25 times as high as average prices since 2020, according to the Bureau of Labor Statistics consumer price index.”
I can say that I am not making 25% more than I did in 2020. So the RTO ends up being a pay cut I can’t afford.
@ak Truth bombs !
I don’t recall a lot of “we got a raise!” celebrations when we STOPPED having to pay for parking, gas, child care, lunch, etc. I’m interested in how many child care providers, retailers, and other businesses reliant on working families reacted when we all stopped needing their services. My guess is that on the ladder of socio-economic experience, they got a lower rung than you did. All I’m saying is that a lot of people would love to have your problem. Dems da breaks. #RebelsThrownOverboard