Is it necessarily true that those aligned to WFS get larger bonuses/salaries (even if not in a revenue producing position) than someone in Wells Fargo bank NA?
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What will the bonus structure look like for those who get (forced rating) 2s?
What will the raise look like (if any) for those who get 2s?
What about the 1s?
There is a Teller now managing engineers with a 40% of base bonus. Don’t waste your time here, work hard and move up.
Bonuses will be allocated to CIB, not to WFS - which is just a legal entity. I think this was different pre 2019.
There are multiple incentive comp plans, it varies for role and business, even within segments of CIB Markets (inclusive of legacy WFS). Risk roles are aligned to the rest of the larger risk org.
Admin role type bonuses are tied to the WFC bonus pool. Producers are tied to a specific formula for bonuses based on revenue and other drivers.
Op, why do you even ask? Peoples bonus targets have nothing to do with you. I’ve worked in both areas and they are different depending on the job.
I don't know but I know it's sweeeeeeeeet!
Obviously people in wfs trading are different- they aren’t paid a salary and are on commission so very typical to pull in well over 500k (or more)
Just walk into the parking garage of any wells building with a trading floor and you will see the power of their bonuses...
no, it's not necessarily true. I worked at both WFS and WFA for several years and average bonuses for my teams were 10-22% of base. The 10% was a monthly bonus w/WFS; the 22% was annual with WFA.
I've worked on the bank side for the last several years and bonus is 30-40% of my base.
Even if in a non revenue producing position?(compliance for example)
Yes, it is true. WFS bonuses are discretionary and do not have target percentages like WFB bonuses do (e.g. bonus target of 15%).