Can’t wait to see what the CEOs bonus payout is when it’s reported.
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I am now a "free to choose" high net worth client -- maybe even ultra high net worth. Add my extended family who followed me to schwab and the total asset number is staggering. Quite a revenue stream at risk for schwab now. Trolls head my warning:
Principles and integrity matter to me. I have gotten high bonus payouts for my history there. If i see any funny business with that bonus payout calc for those impacted, assets walking will do my talking for me.
While the money is not material in my case, the principle is and i am sure there are others like me watching too. Insults will be met with very real revenue consequences.
...I realize lower level staff there won't care or have any power to do anything anyway. I am not speaking to you. I am sure, however, that there are some higher-ups watching and it is you I am addressing directly: I trust you are operating and making decisions on a cost / benefit basis. The choice is yours to make and the math is simple. I trust you will do your shareholders and all those impacted a solid by doing the right thing.
Walt and company are too greedy to forgo their own bonuses for the benefit of us.
All the people who got laid off get punched in the junk again
It is held back to pay people more who get exceed or far exceed.
When you say the MD holds some back, who is that for themselves?
This is very simple. As a Director I will reward the individual contributors on my team who EE or FEE. To reward the high performer, maybe I allocate 80% payout to their bonus. Subsequently, you who were an ME will get less than 73%. I take from the many to reward the few. And it won't be 73% to start with as your MD will hold some back.
This is a terrible payout for many of us who worked so hard this past year, suffered through the anguish and uncertainty that layoffs caused, watched our friends get let go and then RTO. I am embarrassed to work here. It is quite a shame.
Why does it go down to 65% for most employees? Can you explain how that works.
Can’t wait for the spin on this. Already started by pointing out the 5 yr bonus average. Perhaps The CEO and EC could have forgone their millions? After all, it’s under their watch and leadership that 2023 was the company’s worst year in a long, long time.
73% means 65% for most employees
I’ll take what I get. It’s not performance based for those like me who were laid off. While I was at the firm, I got over 100% because I always exceeded expectations. Oh well.