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"My bank gave zero raises in tech, ruined hybrid work, and killed motivation"

I work in tech for a major European bank. This year it made the 'best' decision for itself: to provide tech employees with a 0% raise in many countries.

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They told us that they took this decision across the board, showing they don't care about high performers versus the invisible people, doing their tasks and nothing more. There was no distinction between employees.

 

This has killed motivation, performance and innovation. Most of all, however, it shows they don't care about people.

On top of this, they called us back to the office for three out of five days per week. 😡

One of the arguments the bank brought to the table was that they've frozen hiring and that tech jobs are less hard to fill than before. It's true that our headcount is stagnant. However, inflation has been more than 25% in the last few years... why would they bother to compensate us for that? 🙄

People are avoiding working for this bank, in my country at least. However, time will tell if this was a good decision on their side.

Does anyone else in tech feel disrespected by their pay rises (or lack thereof)? Let me know in the comments.

Marco Grayson is a pseudonym.

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AUTHORMarco Grayson Insider Comment
  • Te
    TexasJPMc
    4 April 2024

    Yet, so true, my bank didn't get me a rise too. But I believe there are also discrimination going on between where people comes from. My boss and team leaders get promoted. They can work from home all the time, but we have to keep 60%, 3 days in office.

  • Ma
    Markus988
    3 April 2024

    So they killed hybrid work, by implementing WFH 3 days out of 5 ?

    Nice one, nice one ...

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