It has been a devastating week in financial news. Today the House of Representatives passed what is being called the Bank Lobbyist Act, a law that removes many of the reforms put in place after the 2008 financial crisis.
The bill does many things to harm consumers, the economic health of this country, and us, bank workers.
It is time for us to speak up and say something! Take action and hold Speaker Ryan accountable! bit.ly/2s2Qy35
Banks are reporting record breaking profits in the first quarter of the year thanks to the corporate tax cut. Chase has reported profit growth of 35% ($8.7 billion) and Bank of America has seen a 30% ($6.9 billion) boost in profits!
What about workers? Do you think banks should be offering workers higher wages with all of this new revenue? #BetterBanks
The Big Banks Are Reporting Record Profits Thanks in Part to President Trump's Tax Cuts
fortune.com
J.P. Morgan and Bank of America both reported record first-quarter profits.Closing branches and cutting teller jobs, but offering higher payouts to investors? This doesn't seem fair. What about Wells Fargo bank workers?
What are your thoughts? #BetterBanks buff.ly/2L566fk
And I was not even given severance when I was sent on my way. So wrong. Maybe other financial institutions will do the right thing. And don't get rid of tenure just so they can't get retirement.
In a recent regulatory filing, Citigroup reported that it's CEO, Michael Corbat, made $17.8 million in 2017. This is 369 times more than Citigroup's average bank worker!
Is this type of pay gap justified/fair? What are your thoughts? Do you think Citigroup should raise their minimum wage to $20/hr? #BetterBanks buff.ly/2rNjEU0
Yup great company. Glad he makes that much. Company does a great job of advancing talent but making sure that average folks can keep their jobs.
I’ve worked there for 12 years, and they are starting new hires at only $.30 less than I make. Any one who knows me knows that I’m a hard worker, but the only way to advance is to be buddies with a higher up and to fit in to the management cliques. Hard and extra work is not rewarded.
Who is surpised? When the tax breaks came, BoA gave their employees a bonus. What did we get? A talking to about complaint captures... who is capturing ours?
Yes that is a lot of money but Mike Corbat does a ton and deals with a lot of crazy work stress that you can't even fathom but still makes time to care about his employees and treat everyone with respect.. CEOs of other big banks are paid more... He worked hard to get where he is so and stay where he is so let him reap the benefits
Does anyone here work for Citi?
It shows a piss poor company that will pay the CEO that amount of money and fail to pay the people who do the true work a true living wage. I will be rethinking the Citi cards I carry and maybe other customers may want to do the same.
They should at least follow Wells Fargo and increase everyone to $15!
I worked at Citi for over 30 years - got paid what I deserved and excellent benefits! Great Company !
I Will Do That Job For 5 Million Dollars
I use to work for this company. Due to their leave of absence insurance they use MetLife who took their sweet time to approve my claim I lost my home and my car.
Hmmm. I think we could get a raise then!
I do and I love Citi!! Started in 1978 and after leaving for many years I had the luck to be able to return at the age of 60. No other company would’ve have given me the opportunity to return at this age. Great company to work for !! Love,love, love Citi !
A CEO's job is not like any other regular job. He or she carries enormous responsibility. It is a multifunctional job with a lot of accountability
I used to work for Citigroup and the salary they offer to their employees, it was depressed, they demand for so much, they don’t appreciate your job as they supposed to be
Yes! I love my job and make decent pay but I feel like they act like the raises they give are huge(not). Then when you hear about what he made, you know they could afford bigger raises especially for employees who work hard and have been there a long time!
I worked for Citibank for 18 yrs and I have no complaints they paid me well.
One of the hardest jobs in the world. The amount of sacrifice is beyond human, constantly traveling from one part of the world to another. Ensuring over 200k employees come to a thriving work environment with global career opportunities is no easy thing to do. Very humble and always looking to do the right thing.
Aris Arenas Mistie D. Walton he actually makes about 500 times more than us..
For everyone saying that he works hard for this money, let me break this down. Even if he's working 80 hours a week, every week (he's not), he would be making over 4k an hour. Scientists have proven that after a certain income level, the money in excess of that wage doesn't make any difference in happiness. This guy is making more in one hour than I make in 2 months. And he's got plenty of people directly under him that he delegates to. I've worked here 4 years, and while I think Citi is a better company to work for than most, they still should be paying a living wage, $15 minimum.
Haters gonna hate, compensation is commensurate with responsibility. Way to go Mike, keep up the good work !
yeah absolutely they should pay more especially with that type of pay gap. sure the CEO has more responsibility but is his job 369x harder than an entry level position day in and day out?? NOT AT ALL
SMH and they messing us over on raises every year 2 & 3 %
Seems excessive when raises and bonuses for a majority are hard to come by and cost control is the norm.
However they should pay the employees more
I work for citi mortgage for 9 years and thankful I’m laid off.
While Wells Fargo is planning to close 300 branches in 2018, and cut the number of tellers by 7 percent, they are offering their investors higher payouts. Wells Fargo has increased the high end of its range for payouts to investors to 80 percent.
What are your thoughts? What about the bank's workers? Is this just a way to convince investors that the bank has recovered from the scandals? #BetterBanks
Wells Fargo Shares Rise as Tax Cuts Lead Bank to Boost ROE Goal
bloomberg.com
Wells Fargo & Co. boosted profitability targets as it seeks to convince investors that it can move beyond recent scandals.