"I was told my bonus would be 15% of salary. It was 2%"

I have just been told my bonus for 2024. It was terrible, for the second year running.

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When I first took this job in the middle office of a major US bank, I was informed that my bonus would be between 10-15% of my $120k salary. Last year, it was 5%. This year, it was 2%. This is the lowest bonus I've received during my whole career. 

I feel that I have no other option but to look for a new job. I've spoken to recruiters, and they tell me that other banks pay bonuses of 15-20% for my role. 

It's not easy being so poorly paid. I don't have fancy things. After tax and nursery fees and the mortgage, I just have enough to pay my bills. I work very hard and make sacrifices for this job. They're not reflected in my pay.

The bank I work for seems to have paid everyone outside the front office badly, but I don't think my boss fought hard enough for his team. He's a lovely guy, but is very non-assertive. He just keeps saying these poor bonuses have been cascaded down from New York.  It's easier for him, though - he makes nearly $450k a year. 

I'm not going to stick around for this. I'm astonished that other people seem willing to tolerate it.

Anne Marie Gupta is a pseudonym

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