Anonymous
02/28/2020 19:51
Subject: Capital One’ Performance Management System
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:What is so archaic about it?
It’s a forced balancing/quota system. 10-15% “have to” fail.
That was discussed where I work many years ago. I believe GE used to follow that philosophy. To me that just means you’re saying you have incompetent hiring practices if 10% of your staff are worth firing every year.
Are 10% actually fired each year? Or no bonuses for them?
They won’t fire you on the spot. They’ll mess with your bonus and merit pay and place on PIPs and give you strong hints that things aren’t going to go well for you. There severance packages aren’t bad though. If they are nice and “abolish” your position, you can get 6-8 months severance. Othwrwise, it’s about half that. The good ‘ole boys (and girls) networks are alive and well there.
Anonymous
02/28/2020 19:45
Subject: Capital One’ Performance Management System
Anonymous wrote:Anonymous wrote:Just curious what is a VP bonus over there? Someone wants me to interview
Depends on org a bit but generally
Manager : $20K
Sr Manager: $45K
Director: $80K
Sr Director: $150K
VP: it’s up to your negotiation but $200-$300K is normal
Not on the Compliance/Risk side. It’s about half of that.
Anonymous
02/28/2020 08:31
Subject: Re:Capital One’ Performance Management System
Any insight into bonuses on the bank side, internal (ie not sales) for mid-career level?
Anonymous
02/28/2020 07:06
Subject: Capital One’ Performance Management System
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:What is so archaic about it?
It’s a forced balancing/quota system. 10-15% “have to” fail.
That was discussed where I work many years ago. I believe GE used to follow that philosophy. To me that just means you’re saying you have incompetent hiring practices if 10% of your staff are worth firing every year.
Are 10% actually fired each year? Or no bonuses for them?
I don’t work at Capital One, but at another large DC area employers that still inexplicably uses forced stack ranking. People are constantly being fired.
Anonymous
02/28/2020 04:09
Subject: Capital One’ Performance Management System
Anonymous wrote:Anonymous wrote:Anonymous wrote:What is so archaic about it?
It’s a forced balancing/quota system. 10-15% “have to” fail.
That was discussed where I work many years ago. I believe GE used to follow that philosophy. To me that just means you’re saying you have incompetent hiring practices if 10% of your staff are worth firing every year.
Are 10% actually fired each year? Or no bonuses for them?
Anonymous
02/27/2020 20:14
Subject: Capital One’ Performance Management System
Anonymous wrote:Anonymous wrote:What is so archaic about it?
It’s a forced balancing/quota system. 10-15% “have to” fail.
That was discussed where I work many years ago. I believe GE used to follow that philosophy. To me that just means you’re saying you have incompetent hiring practices if 10% of your staff are worth firing every year.
Anonymous
02/27/2020 20:09
Subject: Capital One’ Performance Management System
Anonymous wrote:Anonymous wrote:Just curious what is a VP bonus over there? Someone wants me to interview
Depends on org a bit but generally
Manager : $20K
Sr Manager: $45K
Director: $80K
Sr Director: $150K
VP: it’s up to your negotiation but $200-$300K is normal
These numbers are way too high and are inaccurate.
Anonymous
02/27/2020 19:55
Subject: Capital One’ Performance Management System
Anonymous wrote:Anonymous wrote:Just curious what is a VP bonus over there? Someone wants me to interview
Depends on org a bit but generally
Manager : $20K
Sr Manager: $45K
Director: $80K
Sr Director: $150K
VP: it’s up to your negotiation but $200-$300K is normal
This person has posted before and though I am sure it's true for the org they are familiar with, this is skewed very high for "the norm" and does not represent an overall.
Anonymous
02/27/2020 19:53
Subject: Capital One’ Performance Management System
Anonymous wrote:Not true .. someone just said Dh is a director and got 45k. I know senior mgrs there that don’t get Mrs than 10k.
It depends on function. HR doesn’t get bonuses like business analyst family of jobs do.
Anonymous
02/27/2020 19:53
Subject: Capital One’ Performance Management System
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:My spouse isn't concerned about it. Director level. Bonus was about $45 K including some stock that I don't totally understand. But I'll take it!
Haha. I totally don’t understand the stock either, with some sort of weird 3-year vesting or something. I don’t even try to understand, but it’s turned into a pretty substantial portfolio.
3 year vesting for stock is not weird! The point of giving an employee stock is so they are directly tied to the company performance over a longer time period. 3 years is consistent with other financial institutions.
Calm down. I’m joking. I just don’t care enough to know all the details.
Other PP here who said I didn't understand it. I actually do. It's not just that it takes three years to vest. It's divided in thirds and each year you have a batch at different stages: can cash out / vesting / vested (after year 3).
Anonymous
02/27/2020 19:52
Subject: Capital One’ Performance Management System
Anonymous wrote:Anonymous wrote:Anonymous wrote:Just curious what is a VP bonus over there? Someone wants me to interview
Depends on org a bit but generally
Manager : $20K
Sr Manager: $45K
Director: $80K
Sr Director: $150K
VP: it’s up to your negotiation but $200-$300K is normal
Nope not generally. Only 20% gets those numbers most get way less.
I worked there for a decade in the biz analyst family. These are very common bonuses. It may not be the case in operations or IT, but they aren’t inaccurate.
Anonymous
02/27/2020 19:47
Subject: Re:Capital One’ Performance Management System
Anonymous wrote:I had same issue with my staff back between 2009-2013. We gave a higher bonus than any company. But 50 percent was in stock with three year vesting. They wanted it now. Of course. Neither even needed money to tell you truth. One was single living at home, one was dual income in a condo with husband. They worked for me for five years. Even though the equity piece went wild, I mean it always doubled since stocks were flying up they complained. My final issue they actually complained their bonus was bigger than salary now so one asked for a raise as she was now used to spending the huge bonus when it comes due and what if it stops if market falls.
Their 50 year old self will look back at their 27 year old self and go WTF.
Bolded section should NEVER have entered your brain. Get some training, or get out of management.
OP did not enter thought process giving out bonus. But my giving someone 30k stock with three year vesting in March 2009 was lotta cash when vested for the 25 year old. His brain could not comprehend the great deal
Anonymous
02/27/2020 19:44
Subject: Capital One’ Performance Management System
Anonymous wrote:Anonymous wrote:Just curious what is a VP bonus over there? Someone wants me to interview
Depends on org a bit but generally
Manager : $20K
Sr Manager: $45K
Director: $80K
Sr Director: $150K
VP: it’s up to your negotiation but $200-$300K is normal
Sounds fair. Pretty good for VP
Anonymous
02/27/2020 19:42
Subject: Capital One’ Performance Management System
Anonymous wrote:Anonymous wrote:Just curious what is a VP bonus over there? Someone wants me to interview
Depends on org a bit but generally
Manager : $20K
Sr Manager: $45K
Director: $80K
Sr Director: $150K
VP: it’s up to your negotiation but $200-$300K is normal
Nope not generally. Only 20% gets those numbers most get way less.
Anonymous
02/27/2020 19:35
Subject: Capital One’ Performance Management System
Not true .. someone just said Dh is a director and got 45k. I know senior mgrs there that don’t get Mrs than 10k.