Or is it just a holding pattern?
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I have been promoted 3 times over the past 6 years and have never been anything other than Meets.
@a3 FACTs!!!
@bf I, unfortunately, found out the hard way. Received a meets ratings three years in a row despite going above and beyond. Finally advocated for myself and received an exceeds. Along with that came added responsibilities, even managing a second desk, without any bump in compensation. After 12 months of 10+ hour days just to stay afloat, I said "no thanks," moved back to my former role and now gladly accept my yearly meets.
No, that's an excuse for plebes. CAO says himself that he'd never done the kind of work he does now and sometimes it's best to hire that way.
I see glib talkers getting promoted because their new managers are insecure. Those that get promoted esp in Tech are often for the upliftment of a manager
As a rule, you should be doing a job before you are promoted into it. If you are simply meeting the expectations of your current role, you are not yet ready for more responsibility. This is not a "Wells Fargo" thing. It's true everywhere. Every manager will tell you a story of someone they promoted too early.
I encourage you to find out the expectations of the higher role and meet those. Then you can make a case that you are exceeding expectations.
Now: there are not a lot of promotions happening at WF, that is true. To move up, you need to move out to another group. However, you still need to convince your next manager you are ready to take on more responsibility. You will be competing against others making a lateral move who have done the job. An applicant with proven experience is lower risk than someone who may (or may not) grow into a role.
They don't want to promote anyone internal because they want all the pre Shart employees gone.
@bv sounds like a situation in BCM
They got rid of promotions when they adopted the Target Operating Model years ago. If there’s not an open position in the TOM, no promotion. And as stated above, they don’t adjust pay until the next February, so it’s really a crock. Unless you’re an executive. They get special rules.
My manager gave his favorite employee inconsistently meets but created a new job for her so she doesn’t get fired
Was in the middle of job interviews for a manager role when I learned that my pay would be the same. And they wondered why I withdrew - you want me to still keep some of my work and manage 9 other people and I’m not getting paid more? What on earth??
Promotions were largely scrapped years ago for DEI reasons. They decided that any movements upward in the company needed to be filtered through rigid, monitored, formulaic, often quota-oriented processes.
Wells Fargo does NOT promote people like you'd expect. Strong performers get new titles, get teams put under them, and get given harder /more work-- but they get ZERO pay for it. If you call that a promotion, have a ball.
Years ago, HR removed any midyear pay adjustments for promotions. Even if you post for a different job on a different team, if the new role is considered to be in the same job family, you have to take the job at your current pay.
It's absolutely pathetic because if they hired talent outside of WF, they'd pay market rate in the job offer.
Likely a promotion with raise = to everyone else. More work and higher chance of IM with no money? Nope!
Meets = you are probably performing well enough to retain your job for another cycle with a token compensation increase. Don't even think promotion while you sit at "meets". You'll need to raise the bar a few notches before it's even a wild fantasy.
Promotions?!?? There are no promotions here at Wells Fargo, unless you are a director in third party risk / supply chain AND you live in a non-hub city. I have Seen that crew get all kinds of preferential treatment for some reason lol. Delaware, Saint Louis, the UK etc
Yes, I received one
It depends - how brown can your nose become ?......um, no, that has nothing to do with race, although race has all to do with some people.
Holding pattern until they find a reason to rank you as not meets and fire you.
Yes promotions are only given to those who are not good at their job.
If you are good, they keep you there indefinitely
This is the WF way
If you are good at your job management is gonna keep you right where you are. If you fail miserably but are in with the HY crowd and their koolaid, you’ll be a managing director in no time.