How is TIAA to work for? Can anyone divulge how their pay structure works?

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It used to be a great place to work, not anymore . Ever since the new CEO took over, it has been a downhill. Fear of layoffs, woke management. None of the folks making over 100 k got any raise this year. Most of the old timers are waiting to be laid off and get the severance package. Medical benefits aren’t great either.

Unlimited PTO is the only great benefit for now, I am sure that benefit may disappear in the near future. Stay far away from TIAA.

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TIAA 1, answer the question? I’m genuinely curious.

All of what TIAA1 said is true. It’s a sinking ship and people are trying to figure out how/when to get off.

As for pay, they benchmark themselves to a peer group. On any posting you’ll see a range and the initial target is the midpoint. Each position is eligible for annual variable comp based as a % of your fixed comp base. Depending on you performance review you can get below 100% target (score less than 3) or above target up to 170% (score 4 and 5). Not many people are getting 4 or 5 due to management control and cost cutting. If you make over a threshold, part of that bonus is paid in cash whereas the other is allocated to a longer-term performance plan which vests over three years i.e. you get paid for year 1 performance in year 4. If you aren’t employed on the paydate of the bonus, you don’t get it. Likewise, if you leave TIAA any unvested balance of the long term plan is forfeited.

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One of the worst work experiences I’ve had. Averaged 10+ hours a week of conference calls, roll plays, product reviews, etc. They expected WM advisors to do a 40+ hour job in 30 hours or so. I worked there for 2 years and hit my goal both years but micro managed all throughout the year. Felt like I was going to go on a performance improvement plan and any moment. Promised to work with a certain level of clients and they never followed through. If a new client committed to working with you with a portion of their wealth and not all of
it at the start, they considered it a failure and don’t celebrate the partial “win”.

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Depends on position and location. I just started and the tech sucks but the clients are the best I've seen in the industry. They're hiring like crazy, so not sure if layoffs in wealth mgmt make any sense.

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Currently a Wealth Advisor for Citi but I honestly hate it here with a passion it’s the worst company I’ve ever worked for in my life and I’ve been in Wealth Management in the banking channel for over a decade. Series 7, Series 63, Life, CFP, ChFC, and soon to have my MBA with a focus in Mergers & Acquisitions. I’m look to enter another area of Finance at this point instead of starting over somewhere else from scratch, but not sure what direction to go. Interested in Investment Banking or M&A.

Hi everyone, I’m in asset management at a real estate firm with 2 years of experience in my current role and 5 total years of experience in finance. What should my comp range be?

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