Wondering how the mappings to new Job titles have impacted you. For me personally, the base remained the same but bonus decreased. But I may have been one of the unlucky ones (at least according to what Saul mentioned is last weeks all hands)
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Who gets a bonus?
Highly doubt it.
Are they going to adjust our salary if it is way too low compared to the new MRP
Got a new title, probably the 5th in 6 years, and base salary went wayup. So much so that I'm now under it. WTF?
Is this just in technology or everywhere. I'm not in technology and not heard a word.
I think my MRP stayed the same. Bonus target went down. lol– bonus, like anybody except Charlie and Saul will be getting a bonus next year.
They remapped ours in June before anyone had a clue what was happening now I understand what was going on. Our MRP went up but salary did not increase and bonus target went down. Titles completely different. Entire team insulted due to fact does not match with the group we support and has a negative impact on how we are viewed and included as part of team.
MRP = Mid-Range Point
Got the AVP title, comp stayed the same.
AVP is meaningless at a bank.
Stayed the same for me
@1pux MRP is Market Reference Point not Market Rate Pay.
BSCs are job family code 67
MRP stands for Market Rate Pay. It means a fair compensation for your job title in your job market. Also known as MidPoint nowadays.
Does anyone know what the job code family is for BSCs? Or the breakdown based on BSC 1-6? I looked under the job code of 66 but BSCs aren't listed there.
I had the job title of Applications System Engineer on one contracting job I had for 6 months at Wells Fargo. Now I have that job title on my resume. Funny! I may be a really good business analyst,
program designer, program writer, program tester and production implementation programmer but how I got a title of Applications System Engineer is still a mystery to me. Also had a job title of Software Engineer in the past for doing the same thing as a Senior Programmer, Senior Business Analyst, Quality Assurance tester, production support programmer they called it at other companies. Job titles do not mean all that much.
Interesting. I tried to find my new title under “Technology”, but instead it falls under “Core Engineering”
There is a Job Families tool on the intranet. You can search every job title and level and see the salary bands for all of these by "area" (eg, Area 01, Area 02, Area 03). There is another tool on the intranet that will tell you which city/state belongs to which area.
Everything stayed the same. Not sure where to see new mrp tho
I ended up getting a substantial raise and higher bonus target. I guess we will see how long that lasts.
My base & bonus remained the same. Pardon my ignorance - what is MRP?
What real impact does a change in MRP make anyways? MRP is supposed to represent market rate (what other companies are paying for similar positions). WF always had a goal of paying between 70-80% MRP (basically an admission they were ripping you off). That’s why everyone in banking boomerangs.
What job families have changed?
Base and bonus target stayed the same. MRP decreased by 7%
Base and bonus target stayed the same. MRP increased by 10%.
my MRP actually increased a little bit, but bonus target went from 15 to 10 %