Four years in and my last raise was only 2 percent, but a recruiter just reached out for a similar job that pays 15 percent more. It’s frustrating realizing staying put can cost you this much. Makes me wonder if loyalty to one company is really worth it anymore.
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This is the case everywhere. If it helps, loyalty is slightly more rewarded at US Bank, because of the weird way it 1) punishes people above the mid with no merit (generally those who came from the outside), and 2) still has a pension, which obviously rewards seniority.
While the grass may seem greener elsewhere, I can attest most other big banks have changed similarly. You have to actively look around every 3-5 years to own your career.
Does your recruiter or this company need people? Whose hiring? Please send help for us all! 😉
No, loyalty is not worth it at any company and especially not at this one.
This is something that has always been the case at U.S. Bank. Many people leave and get a pay raise and come back and get a raise.
Loyalty to U.S. Bank is not a reciprocal relationship, other banks, larger and smaller than U.S. Bank, significantly value experience, tenure and expertise, U.S. Bank has offloaded lots of things the last couple of years . . . . efficiency, growth, presence in the marketplace, respect from auditors and regulators, genuine respect from the competitive banks, respected leadership, employee value, the list goes on and on . . . .
In a 5-6 year span if you aren’t getting promoted you’re selling yourself short.