Thread regarding Wells Fargo & Co. layoffs

Bonus policy vs. Resignation

Looking for help here - tried to find on my own via teamworks but no luck. I am strongly considering a job offer outside of WF and expect the offer in the next 24-48 hours. That being said, a two week notice would bring my last day into first week of Feb. Knowing bonuses (assuming we get one) are on track for a first or second week of Feb timetable, can anyone speak on what the policy is on WF taking my bonus away if I give my notice now vs. waiting until after first week of Feb? Want to do right by WF but I earned my bonus with the hours I worked in 2020 - I would prefer not to lose it!

Thank you.

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| 3004 views | | 16 replies (last January 15, 2021) | Reply
Post ID: @OP+18TnwAK0

16 replies (most recent on top)

Inquiring minds want to know, did you get the offer?

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Post ID: @2gsm+18TnwAK0

Complete your work to a some conclusive point
Request PTO
Have a meeting with your manager. Show what you've done, where things are, etc. (sort of transition meeting without saying it)
Be on PTO up-to Feb 8th - make sure your bonus check was posted and cleared
Send a not on Feb 8th that you resigned.

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Post ID: @1khb+18TnwAK0

Do not resign until Feb 8. You want the bonus check to clear before you resign. If you give notice before that date, technically, they don’t have to give it to you. Not that you have to just be employed that date, that you haven’t given notice. That is the only way to be really sure. You can choose not to believe me and a couple of other posters but, do you really want to take that chance?

Depending on the company that you’re going to, you should also be looking for a sign on bonus.

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Post ID: @1uuh+18TnwAK0

yes, your answer is you must be employed by the bonus payment date, which is Feb 5th. So if I were you, I would start the new job the following Monday (feb 8th) and give your in writing notice that you last day will be Feb 5th.. If WF lets you go sooner after you've given notice, you would still get the bonus.

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Post ID: @1igo+18TnwAK0

Don’t give a 2 week notice.. Duh?? Employment is at will.

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Post ID: @1nsy+18TnwAK0

Bonus pay date is 2/5. Tell your new employer that you can start on 2/19 if you're set on giving WF two weeks notice.

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Post ID: @1gyu+18TnwAK0

Unless you’re sales, your bonus is likely unrelated to anything directly under your control

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Post ID: @1hhb+18TnwAK0

I deserve a bonus too and probably deserve about 40% of the mangers too. I am a Tech Secretary here, I take notes, send out meetings, maintain spreadsheets for the manager. Also deal with the developers that drink do nothing but stare at the computer and dont like to talk too much.

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Post ID: @1dbn+18TnwAK0

Negotiate signing bonus with new company as offset and don't look back. Congratulations on pending opportunity!

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Post ID: @1kqq+18TnwAK0

I find it interesting that you say you deserve a bonus because you worked hours. It's not the number of hours that matter, but the quality and output. Entitlement is a problem here.

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Post ID: @1lup+18TnwAK0

Tell the new company that you will be forgoing the bonus and they may pay it.

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Post ID: @acd+18TnwAK0

Just tell the new job you have a big project you are handing off and need to give WF three weeks notice. Should be good if the bonus pay day is Feb 3rd.

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Post ID: @kzt+18TnwAK0

Odds of losing your bonus are slim, that said you can ensure it happens by having a start date at the new gig after the bonus is paid. If that's not possible, get as close as you can and be nice to your manager. Odds of them contesting it are exceptionally low....but just in case. 'Leaving well' is the classy and moral thing to do anyway. To many vindictive people become obsessed with burning bridges as they approach their last day of work. Maybe you'll never work at WFC again, but that doesn't mean that you won't run into the people you impact on your way out elsewhere in the future. It's courteous and respectful to leave the right way, and coincidentally it's also the best for you in the long term.

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Post ID: @nkq+18TnwAK0

The only way you wouldn’t get your 4th quarter bonus is if your direct contested you getting it. Which is super rare. They’d have to be an a–hole to do that. Just don’t burn them on your way out.

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Post ID: @ljs+18TnwAK0

Looks like bonus would be on Feb 5 paycheck, saw that on new 401k website.

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Post ID: @emg+18TnwAK0

If you want to be guaranteed your bonus, do not resign until it is in your bank account. See if you can negotiate a start date 2 weeks after the expected bonus date. You're not that far out.

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Post ID: @cns+18TnwAK0

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