I thought were getting a cost of living increase, at least. I'm understanding the grumbling about this place.
33 replies (most recent on top)
What is a “cost of living” increase in banking? I’m happy if my raise simply cancels some of the increased healthcare costs. If you fall towards the top of a salary band and are in the 7 undesired demographic categories, (and you surely know them if you are, good luck getting above that glass ceiling my friends.
Zero increase. Rated as "meets expectations".
if you want a cost of living increase - get a union job. There's no such thing in corporate america otherwise.
Anyone who makes > $150k did not get an increase, and those > $200k haven't in three+ years pending business unit. Bonuses were funded at 90%+ for lower levels and as littles as 80% for execs. Bottom line, execs are being held accountable for our results and leaders are most of whom have been laid off.
the negative post won’t help you We c u
@1zgb+199iMR59 - Jeez man, I just said that I had 3.9 with an exceeds and you decide to be clown. I'm guessing that you are headed out sooner than me.
@1zgb+199iMR59, bs, anyone who got that is on their way out the door
I got 3.9% with an exceeds rating.
Not just Wells. I haven’t had many raises in my career that covered cost of living. This is with meets or exceeds ratings throughout. The only way to get a larger raise is to move positions or leave the company you are with unfortunately.
What are the increases based on? Do they give to everyone?
I'm an individual contributor. I was rated a meets. I got a 1.74 percent increase. Lower than previous years but considering the cuts and layoffs the company is going through I guess I am lucky to get anything.
Got a 4%
Insulting increase considering was essentially promised last year's promotion was just "deferred". I get covid (and continued company snafus) impacted overall funding, but the talent can and will go elsewhere. You can only take so much bs before you look for and find better opportunities...
Thankfully I'm jumping ship soon for a better gig with a firm with a much better reputation...and making +25%.
I hope the smart people are dusting off their resumes.
@bcb+199iMR59, where do you get your information from about how companies look at layoffs? You are very incorrect and misinformed. Companies understand layoffs as they know they have to clean house at some point.
Just because you were lucky enough to not have been laid off, yet does not mean you will be able to avoid it. It happens and it can happen more than once. Get off the high horse. Layoffs happen through no fault of your own. Live long enough and you will see.
folks in on my area got anywhere from 0 to 7%. Those in CA making over 150 got 0 even with 4 and 5s while the same positions in Des Moines rated at meets got raises. A few promotions were handed out but guidance was to only promote lower level positions and nobody on a higher role got anything
yea, i am not waiting my whole life to get the position I want, nor do I want a layoff on my record. While it seems it is not bad now, it very much is. Companies look at people layed off like they are the worst employees in the organization.
We’ve never had cost of living increases, just so called “merit” which are laughable for most. I’m at only 80% of mrp for my role and a top performer but not increase as I make over 150k.
@kuu+199iMR59, I agree with you. I don't want a layoff and for those who say that they want one or are hoping for one, you really do not know what you're asking for and especially during a pandemic.
I know this place isn't perfect but it does pay the bills until better comes along.
Does Chainsaw care? Absolutely not. I have ran into his rich smugness enough to see that he doesn't. His pockets are full and that's enough.
that's impressive @kuu. I've never met anyone that actually hit the max pay in their role. Nicely done!
10 years in, good reviews and now no raise because I've maxed out in my position. No jobs to apply for. Mangers are told to not promote up, but they continue to dangle that nugget all the time. Do more and show your ready for it. Oh and your an hourly position, so your always scamming for OT. I don't want a layoff, I have mouths to feed. I know a lot of folks pray for the layoff/severance, but it is awefully tough out their. Alot, of the social safety nets are falling away. I actually mention this stuff in the surveys and I never hear back from anyone. You can talk about the higher ups in their golden offices trying to run a bank and being competent managers, I would like to hear them come off as believeably compassionate. We are sorely lacking in true leadership.
This place sounds like how BNY Mellon is ran. People working there for years and not seeing any increase in income.
Post ID: @jbn+199iMR59
Are you for real?
“TheLayoff.com is a simple discussion board for all of us who would like to learn more about the rumors or possibility of job cuts in their company.
Enter TheLayoff.com - The purpose of this site is to provide a space for anyone who'd like to discuss the possibility, likelihood or impacts of layoffs in a company of interest.”
This site is called Layoff. Why is it so many posting are still working there?
Wells Fargo putting the squeeze on their own employees.
So far, I am still not impressed with Charlie. All he is doing is collecting the dough, hiring his buddies, alienating the employees, no progress in any way that he can document, and the stock is still in the dumpster.
Charlie’s Performance Review Rating = 1.
1% increase. Wells is in bad shape.
yes no increase from wells fargo, but got an offer with close to 70k increase; guess just this bank all the increases have to go to execs. May be good as they soon will have to do all the grunt work to as no one will want to work here
No increase, haven't had a salary increase in 3 years. several thousand less in bonus than last year despite having a review full of glowing comments, every year my bonus has dropped, despite great reviews, at this rate I'll be paying Wells to work here. The reasons to stay here have come down to nothing more than being able to work from home, the second something better comes along, people will leave, I know I will... why keep in putting in the effort, doing multiple peoples job due to layoffs and get less and less each year.
1% increase
Also, WFC has never, to my knowledge, provided a "Cost of Living" increase. There are merit increases, there are minimum wage increases, there are sometimes changes to the min/MRP that impact pay, there's promotions that come with pay, and on rare occasions there are one-time increases for various reasons...but none of them have anything to do with inflation or the cost of living.
Depends on a lot of factors, but everyone in my team got an increase, most of them in the 2% range.
I got a huge increase! Shhhh. Don’t tell anyone. It’s because I’m cool with Charlie’s boys
Yes the same here!
I got no increase this yr.. Not good. I think we would see a ton of replies with the same.