BankingTech FinTech

[Discussion] Change in bank’s employment structure

July 19, 2020 at 10:29PM

So my bank (employer) changed how they staff the company. Basically they cut probably about 55% of all bankers and everyone that was a specialized bankers (licensed bankers, small business bankers, relationship bankers) just got the general title of banker. From this, I received a 20% hourly raise and the bonus structure is going to end up that I will at least double my quarterly bonus (from a 1000 goal to 2000 goal) and if I exceed my goal so much (300% to goal) I will receive an 8000 bonus. I should also mention, I'm the only banker in my branch which is like the 3rd busiest branch in my region (14 branches) and my boss expects me to hit 300% to goal each quarter due to sheer business at the branch

People who work in banking, is this too good to be true? My yearly income will almost double with the new bonus structure that my boss reported to me. I'm fairly new in banking, about 1 year of experience.

I have another offer from another bank which reports on glassdoor say 63k a year (salary + incentive), and if I remain at the bank I'm currently employed and everything works the way my boss says I will go from making 38k last year to over 70k.

submitted by /u/MrOwnage_Pwnage
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