Well today our HR department unvieled part of the results of their salary harmonization project. Over the years through mergers and buyouts different parts of the company have ended up with different compensation plans from old companies. They wanted to get everyone on the same plan. For the past 10 years I have been eligible for a bonus of 20% of my base salary based on company performance. This company has general done very well, better than most others in the same business. A couple of years ago they decided that new hires would no longer be eligible for a bonus but they got a higher base salary as a result. This led to reasonable equity in overall pay. Now everyone will be eligible for a bonus with the amount depending on your salary grade. They also have all new salary grade levels that everyone will be slotted into. As a result, recent hires may end up with significantly higher base salary and bonus compared to people who have been around longer who will get a siginificant cut in bonus and no adjustment to base salary. Depending on what grade they put me at, I am looking at overall paycut of 10-15% after 14 years with this company while newer hires get a pay increase because base pay wont change but they will add the bonus. I don’t even know what grade level I am going to be at.
This is HARMONIZATION!! Fuck corporate america!!