I am a fresh blood at WF currently located very away from any of the identified hubs for my group. WF recruiter said they don't provide relocation assistance. For tenured employees who are asked to relocate to other cities, does WF offer relocation assistance of some sort? If yes, how can I convince my manager to provide me this? Other companies provide around $75k in reloc assistance. Appreciate.
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Only for executives. Not surprising.
After working for WF for several years, I took a role internally that required me to relocate. WF provided a relocation package (different than assistance) that was equal to $150k. These packages are alive and well today for every executive moving for a role. The WF package was decent, but no where close to other companies who relocated me. The worst part of the package is the home purchase program, which in this market should be irrelevant.
But, what if “you’’re” new?
And what if you “wouldn’t” come here new in the bad shape [that] this company is in, but to each “his” own.
Honestly, these people walk among us.
Yes, I smell BS.
if your new, you should have negotiated that before you started. I personally wouldnt come here new in the bad shape this company is in, but to each is own.
Doubt you get anything other than as little as possible. The company is pushing people out so they dont have to give severance or pay unemployment. Enjoy your new position!
So many uninformed comments here..,it’s about the LOB (how successful it is), the manager (how senior they feel to lobby for that), the managers budget, are there layoffs pending, the job position/function. In general, right now, WF is reducing head count wherever, everyone and anyone is expendable. You be hired one month and out the next.
I'd never relocate with this company, with or without assistance. A few years ago I was told of a couple (married, both working at WFC) who moved their family to Charlotte for job transfers. Less than a month after they moved, they were both laid off. Nope. Not gonna risk it. Not a chance.
Other companies have better relo packages; this place is not worried about employees
About 10 years ago I received 5,000 lump sum to help with moving costs when I accepted a new role here internally, it was a cross country move. I’ve brought it up recently and it’s certainly case by case and comes out of the hiring managers budget so wouldn’t hold my breath if you’re expecting something
Most companies having record years will offer this, but unfortunately, this one doesnt offer anything. Your bonus is you get to pay and do it yourself. A good learning experience.
Wells fargo doesn't generally offer relocation assistance... Moving is expensive, take that into account whether you accept or not.
I have gotten relocation assistance before from other companies, but it wasn't anywhere near 75,000. They pay for the moving van, to tow your car, as well as a lump sum usually around $5000.
A friend relocated from SF to the east coast, and chose a white glove moving service that packed her up then unpacked her at her destination. It cost her $20k. $75k is crazy talk. They aren't trying to entice you to join the company, and have plenty of headcount to cut so... you do the math.
If the company does, in fact, pick the hub policy back up I assume they'll have a small, set amount of relo for anyone required to move. (Assuming they offer anything at all.) Your alternative will be layoff and a package.
Sorry "flesh blood". Maybe you are k–ling it in your role, but hard to believe you could negotiate relo if you are a newbie.
The relocation assistance is that you get to keep your job. That's just how it goes these days here.
I relocated to come here and got exactly squat.
it's basically up to the hiring manager if they want to request relocation assistance, but I'll tell you from experience it will not be anything near 75k. You'd be lucky to get 10-20k tops, that that's just cash not literally having people pack your stuff or paying the difference on your house, covering rent for a few months etc. Now if you're talking executive level, that's a whole different story and 75k may be something they would do.
However from what I've heard as of late, it's not being offered, unless it's c-suite or direct of them. But location strategy is still alive and well, so if you got hired in a non-core location, would expect you'll need to move or find another job within the next 18-24 months.
You're dreaming. I relocated recently and it cost me MAYBE nine grand. But even that number is inflated because it includes stuff like new blinds, paint, furniture and a shiny new TV (because hey, why not).
I hear Rhode Island is still bribing people to move there. Why don't you look into that?
I've known 2 people in my division that got a $30k relocation package in 2014, 1 that got a $20k relocation package in 2015, and 2 that got a $10k relocation package in 2018. Note this was all before Charlie came to WFC. These people were non executives but highly paid around the $200k mark.
Also all these 22 year old kids that come into the Wells Fargo Securities analyst training program out of college and the Wells Fargo financial analyst program were getting $10k signing bonuses. At the associate level, usually these are 28 year olds coming out of their MBA programs to join the Associate program within investment banking and sales & trading, these people got around $25k signing bonuses (may actually be a lot more than this). These people make like $150k base salary while the 22 year old analysts are making $80k.
So relocation package is definitely a thing and industry standard, however these are for the front office types of jobs at Wells.
Been working here for 22 years now, never once heard of anyone getting relocation assistance unless they were some executive pet.
lol, I wouldn't move to CA for $750k, let alone $75k.
There will be no relocation assistance. Sorry OP, but it ain't happening.
Don't count on any assistance, it's all on your own if you truly want the job. Or you should find other more suitable jobs while you still can. Best of luck.
We are in the process of displacing 20-25% of the company, why would you ever think they are going to spend more than half the individuals in said company makes in a year to relo you?
I don’t care who you are or what you do, you’re expendable to them. It’s not personal, it’s business.
@wop+19BkJNfO If you've been attending our Town Hall meetings, our leaders want us to report back to offices once COVID is lifted. Good thing the schedule is dragging month to month, it's now May 1st. Customer facing or not, most of our leaders want us back.
This is not 1979. Most jobs here, unless they are customer facing, can be remote. Why cannot we get with the times?! Not everyone needs to be in an office!
@egt+19BkJNfO Yes, that was my relocation offer from a small company who wanted to move me from TX to CA back in 2015. Prior to joining WF I worked for a large company that laid me off. That big company has similar relocation package, and so many other companies. I am shocked that WF does not help employees that much. Wells t Fargo!
Wells Fargo will tell you to relocate or you're fired. That's a test of your loyalty. Unfortunately, WF is not loyal to you.
You're kidding right? This is Wells Fargo.
Relocation is very expensive. If you have a house to sell, a family to move, and going from Charlotte to SFo for example, or vise versa, could easily ring 100K or more. Other companies reimburse multiple flights, temporary stays in new location, moving expenses, etc. It's no joke, just transporting 2 cars from coast to coast is already 5K. What more for a 4 bedroom house.
75,000? Other companies provide 75,000? What other companies and where are people relocating from, another dimension?
If you get 10k conslider yourself lucky
OP here, as a follow-up on my post, I've seen some recent post here about "Relocate to hub or else ...". When employees are told to relocate, does WF provide relocation assistance? If yes, any details you can share?