Capital One blinders
There seem to be a lot of people from Capital One on blind talking about pips and work culture etc. why such a strong Blind presence for a bank. Does it hire a disproportionately large number of tech folks for a bank?
С1 is desperately trying to be the most technological bank. They dont hire a bunch of contractors like other companies do
lol that’s a massive lie. they’ve merely fired all the contractors in the past 6-12 months to save money. it’s normally ~50% contractors
It is not at all, since 2012 or so. Typical is ~20% and it went higher near 30-40 depending on org during the pandemic and is now adjusting back to normal. Rob always wants 20%.
As an ex-amazon I can say it is much better here, I got upleveled, only 25% more TC, but I do half the hours, finally a more regular 30-40 hour week. I see a lot of ex amazon joining too, specially senior leadership, PiPs are inevitable.
They decided to hire a ton of amazon execs who are bringing the amazon culture with them. 15% pip quotas for mid year and end year distribution. People are scared and are now working longer hours or looking elsewhere. Why work at amazon 2.0 for half the TC.
Half TC is a gross exageration, L6 amazon is avg 365K lol (check levels), it only gets good at L7, which is like Sr. director here.
Yes we do. We have a lot of permanent FTE tech folks (Software engineers, Data engineers, Data Scientists, etc) compared to many other banks. One senior leader told me that at one point we had the 7th largest number of data scientists in the country (not sure about the rank but I am not surprised about the numbers given the extra value we are getting from our many Data science teams across various LOBs and orgs). Also, we have a lot of ex-Amazonians especially senior leadership with more on the way. Unfortunately, we implement stack ranking & forced distribution (not new) and normally people who get below strong (BS) rating during performance management (PM) are put on a coaching plan (CP). However, it appears that this MY (mid-year) PM a lot more people are going to have PIPs than CPs.
Don’t join, this shit is crazy. Hate this company.
There is no PIP. Just stack ranking. PIP can be weaponized depending upon whether the person is deserving or not. But no PIP Quota from my understanding.
That sounds familiar, I see capital one people talking about this stack ranking
There is pip quota in certain LOBs. Soft pandemic performance reviews are over.