Finally going through the mid year process and got a rating of "meets" I assume that is the 3 everyone talks about. I work hard and have been with the company only 8 months...is this typical of newer employees ? Everyone is being so obscure about this I've never even gone through this process before. I know people on here are making it seem like its been lowered or is skewed this year.
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My manager told me that she had to get approval from her manager to assign a 4 and approval from her manager's manager to assign a 5. Clearly, at least in my group, 5s will be near impossible.
Ratings, schmatings, I am going to take my 1.3 rating and go work for JP Morgan for a few months so that Wells can hire me back for double my pay.
I was rated a 3 in my first year and 4's or 5's every other year. My current manager told me he is recommending me and one other person for 5 ratings for this midyear cycle. I think it depends on your area, manager, etc but I've not had a problem sustaining high reviews despite having 5 different managers and 3 different job functions in the last 5 years. My first rating suffered because that group had moving expectations depending on who you were stuck with for each cycle and one person in particular was a horrible micromanager who could not be pleased with anything. I ran away from that group as quickly as possible and have done great every year since. So it is possible but it's also possible you got into a bad group that doesn't appreciate your work.
It is a shame that legitimate people are not being rewarded fully . The new management is trying hard to distinguish between people who caused frauds or did not object (many of those are still around) and those who did their best for the firm.
Unfortunately, there will be a lot of ‘collateral damage ‘ (the good people also getting hit by cross fire).
I've never gotten above a 3, and I'm one of the major inventors at Wells.
@nvu, thanks for clarifying the ratings. I am new and haven't gotten mine yet, we will see how it goes. I come from a company operating in current times, so hope that doesn't play against me here since things are pretty old here.
I received a 5 during my last review and along with that a nice pay increase. Alot to do with re structuring my areas policies and procedures, along with training new hires. What are "leads" really for anyway? They should take on those tasks. I just got my mid year with a "meets", how did I drop in their eyes and does this mean I could also be on the chopping block?
It doesn't matter anyway. I received several 4s and even a sprinkling of 5s, was team member of the month 4x and team member of the year once. I was let go last fall in favor of someone with known performance issues but who had been with the firm longer. Do yourself a favor and start looking. Wells being a stain on your resume is NOT a myth! I am still unemployed (because or in spite of, not sure) after 25+ years of giving Wells my best efforts. One of the first questions in every interview is a version of "why did you decide to stay with Wells?" (I got there via a predecessor firm being acquired.)
*15% at inconsistently meets
There was no directive from my management team to rate my associates a certain way (I'm in controls); however, the guidelines are 5% at consistently exceeds, 15% at exceeds, 60% at meets, 15% at consistently meets and 5% at needs improvement. Meets is a good rating.
last few years there's been a conscious effort to bring down ratings inflation. 3s are aplenty. less than that and it's a signal you should probably be looking around for another job. higher than 3s and you are the chosen one. the move to bring down ratings was explained to me as you can argue for a cutback of 3s and lower but not 4s and higher.
It never gets clearer and changes every year. I’ve never seen such a seemingly simple process shrouded in secrecy year after year. I’ve rarely felt they were fair or accurate, most often a participation ribbon for the best and worst of performers.
Apparently this year is different , managers are told to use a bell curve shape rating system with 3 being the norm
I’ve never gotten a rating less than 4
There is no such thing as 4 or 5 really. Never seen one on good years or not. Wf does not believe in putting in writing how great you really are. If you have a 3 it means you are working hard and in a normal world would have been rated 4 or 5.
I work hard and have been with the company only 8 months
Don’t be the only loser doing the work.
It’s WFC do the bare minimum.
Working hard doesn’t pay. Work on yourself
I hope you came in above threshold. If you are an entry level position you MIGHT see a 1-2% possible pay raise next March (I wouldn't even count on that). The methodology/importance of the ratings is constantly changing. This is the first time in 20 years I have seen ratings during mid-years. If you got "meets" after eight months you're doing what you should be doing in your new role. Unfortunately, it might not be enough to keep you here.
Meets is good (the alternative is only needs improvement - there is no longer a 1-5). It also likely means you are good to go from a near term layoff standpoint. There is forced stack ranking now so 5% (minimum) have to be rated needs improvement. Those will be the first cut after location, redundant groups, etc
Take the 3 and go get yourself a cold beer or drink. A 5 is unattainable. You can hit a triple or grand slam and still not get a 4 or 5. Welcome to WF.
A lot of people posting are used to previous ratings where a manager rated you against the items on your performance plan, how your peers were doing was not considered.
Now they are telling managers to ration high ratings basically, so you are competing against your peers for the high ratings. The reason to make it competitive is to move out underperformers. How well it works is debatable.
There is nothing wrong with 3, it means you are meeting expectations. You don’t want to be a 1 or 2. Beyond being in jeopardy for being cut if you are not performing, there is no practical difference in 3, 4, 5.