Thread regarding Charles Schwab Corp. layoffs

Post experience if you received an IME on perf review

IME means Inconsistently Met Expectations.

I got zero bonus, but allowed to keep the advances (thanks!). Received a 1% merit increase though.

Go.

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| 2531 views | | 13 replies (last March 5, 2024) | Reply
Post ID: @OP+1riO5pg4

13 replies (most recent on top)

i got this rating my first year (i’d been there three months, but still merited a review i guess) because my kiss-ar-e boss tried to punt me to a dead-end team and i stood up for myself. best professional decision i made up to that point, as i got subsumed by a much better boss in the next year and got some pretty hefty promotions/raises.

hang in there, it’s not necessarily a death sentence. that said, be aware of the exits and make yours on your own terms.

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Post ID: @6zgz+1riO5pg4

Quiet firing at its best. I got to keep advance bonuses and 0% ME. My review was chock full of bias and unsubstantiated scapegoating. Needless to say, I will be on the chopping block soon.

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Post ID: @1gaj+1riO5pg4

Read Peter’s email about funding, in there it discloses that bonuses are also used to help true up compensation. Sometimes a larger merit increase can signal that your pay is in the lower segment. So don’t rush to think it’s all about performance. While high performers get larger merit increases, it’s not the sole factor. Some portion of the merit and bonus is outside of your control.

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Post ID: @1gnq+1riO5pg4

From that last post, I feel like a total loser. Wish I gptmam6% raise. That is awesome.

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Post ID: @1eft+1riO5pg4

6 % Raise, 90% Bonus for exceeding expectations losers. Also, pretty happy with my Nvidia and BTC purchases.

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Post ID: @gjj+1riO5pg4

LAID* off, not paid off, appropriate typo though.

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Post ID: @ofx+1riO5pg4

I was laid off in October, but I got an IME the quarter before from my psycho incompetent boss. I was pretty sure I would be a part of the layoffs unrelated to performance (was proven correct), but I was concerned that I was going to be fired before then. I started sending a daily email to my boss and skip-level with everything I'd done that day - meetings attended + notes, tasks completed, etc. It was ridiculous, but you have to fight crazy with crazy sometimes. Of course then I got praised for my "improved effort" 🙄 by my skip-level. They eventually told me I didn't need to send the emails anymore, but I continued to send them to myself every day to have a legal record just in case. Now I am enjoying my sweet, sweet severance, and my horrible boss is just a dinner party anecdote. I would have quit Nov 1st if I hadn't been paid off, Schwab was a nightmare.

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Post ID: @lyw+1riO5pg4

ME here with EE the year before. Despite getting a nearly 3% base increase I’ll be making nearly $30000 less after all said and done.

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Post ID: @aqe+1riO5pg4

Incorrect to say you got zero bonus, because last year’s quarterly advances were part (or all in this case) of the current bonus payout. If they HAD required payback of those advances, then it would be zero bonus.

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Post ID: @xqr+1riO5pg4

Seems like it better to be laid off than working there.

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Post ID: @ncd+1riO5pg4

Next stage should be an IPP to either get up to Met in the future or be managed out.

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Post ID: @jra+1riO5pg4

My understanding is that’s typical. Sometimes it is zero or just no bonus after advances.

What would be interesting to capture here

  • Number of people impacted by division/department
  • Reasons given in review
  • Surprise or consistent with prior feedback

They run the same playbook over and over. They’ve settled. But having some information to help discovery in the future would go to their patterns and behaviors. It’s a tough win, but ammunition helps.

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Post ID: @cox+1riO5pg4

My manager is refusing to do mine even though he's done my entire team. Everyone else got 1-2% raises and didn't max out bonus.

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Post ID: @qkv+1riO5pg4

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