I heard that your rating has a merit range tied to it and getting an exceeds could affect you more negatively than a meets dollar-wise. I'm trying to understand how that even works.
And how do the calibration sessions work? Can a team of 10 only have 1 exceeds and has to have 1 not meets?
@jk that was only for mid year. It was just supposed to indicate whether you need to improve or you are doing good.
I don’t know about this year and my info on 2025 was incomplete. However for performance year 2020 bonuses were 150% for CE and 120-125% for E. In 2024 it was more like 110-115% for E and 130 for CE. And those bonuses were based on last years bonus where 2020 was on salary. So…
Merit increases followed same drop. The change happened when Bei came in.
one year i got exceeds and the merit was 6% plus 12k bonus then the next year i got meets the merit was 3% but bonus 16k so i rather get meets now
That's just midyear.
I thought exceeds ratings went away and now it’s just meets or dnm? Or was that only for mid-year?
@h3+1m6m0rxfg, nobody can fault you. In the transactional employee/employer framework, you’re doing exactly as you’ve been incentivized.
There is no more exceeds, etc.
@a6 100% this. I mistakenly made a great case for myself to receive an exceeds one year based on volume and quality of work. I was rewarded with the rating and the little bit of extra compensation that came with it. But over the next year I found that I was expected to continue to prove my worth by taking on triple the workload. I’ve not advocated for myself since then and now gladly accept my meets each year.
For those who are curious the forecasting is for 9% of the bank to get exceeds, 2% consistently exceeds.
As for those who get exceeds needing more attention, I have a meaningful conversation with my manager maybe once a quarter.
@a6 the entire herd is going to be culled either way. It’s over
@as pretty sure this is posted by someone in Third Party!! SPOT ON. Worst - run shop in the entire bank
@bj enjoy your displacement!
@a6 yep. Our team does virtually nothing most days. We just sit around and watch 2 or 3 people do all the work. Sure they may get exceeds but they are the d-mb ones because we get paid basically the same thing and dont contribute anything at all. Banks are awesome for lazy do nothings who just want to get paid a lot to sit around all day on their phones.
The impact of Performance reviews has more akin to a circus seal.
How good are you ate walking around the office and kissing xss rather then actually doing real work?
If your indian or suxck at your job but your good at circus acts you will get an exceeds.
FWF
A manager explained to me that Exceeds folks are almost seen as a nuisance due to the extra attention they necessitate. The firm really wants butts in seats and standardized, predictable levels of productivity as they examine what can be outsourced or automated.
The effort it takes to get an Exceeds isn’t commensurate with the increase in pay (if any) you get. In turn, within Meets, there’s no financial incentive to be, behind the scenes, one of the stronger performers.
You’re exchanging your time and labor for remuneration; don’t donate extra of those above and beyond what’s commensurate. If you’re feeling charitable, volunteer for a nonprofit, not a multibillion dollar corporation that will lay you off in a heartbeat.
You don’t need to outrun the rest of the herd, only the very slowest.
Money is really only impacted, negatively, if you're below a meets. Otherwise, meets, exceeds and consistently exceeds don't impact raises that much.
And yes, there is a quota system but it's held at a higher level. Much across closer to 20-100 people.
Very few people get exceeds these days so probably not a problem you have to worry about. If you do get exceeds you will get a slightly higher Merit raise and bonus. Slightly.
Calibration sessions the managers get together and talk about you. They're required to dish out a certain number of IM's under the stacked rank system so they rank people and figure out who's getting it. It's not symmetrical: they must give out a certain number of IMs, but giving out exceeds affects the budget pool for the remaining employees, so generally managers are generous with the IMs and stingy with the exceeds.