I’m guessing no.
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me want $95 per hour on w2
@cvh leave it up to "bankers" to have no clue how to calculate growth in a financial sense.
No wonder we can't manage money effectively here.
13%, lol. Bought any lumber recently? Food? Gas? We're in the early stages of a major inflationary move. The stuff we've seen so far is just a warning, it's going to get worse. People that want to keep a lid on things keep talking about supply issues. Sure, that is a factor in pricing, but it's not the whole story here.
Even if inflation went to 7% and stayed there until 2025, that only translates to $20 an hour from $15. Inflation would have to rise to 13% every year for five years to make that explanation plausible. The better explanation is that there will be many fewer jobs at a higher skill level.
Yeah, this doesn't mean what entry level people think it means, on two levels.
First, by 2025 $25/hr won't be worth much. The inflation monster is here and what we've seen so far is just the tip of the iceberg. It's going to get worse, a lot worse.
Second, they already plan on getting rid of as many entry level people / tasks as they possibly can. If tech or contractors can replace what you do, they will. What the contractors pay is doesn't matter to WF, it won't impact their PR. That's the plan folks. So sure, WF just might have a PR campaign of raising their min wage, but it will actually benefit very very few and to 'pay for it's they'll just keep the 'a step above entry level' pay low to compensate.
What this actually means is that roles at the minimum wage today will not exist. Bank tellers and the lowest skilled call center rep roles are gone. Teller type services that cannot be digitized or automated will be given to banker roles as a sub responsibility of other tasks.
Those making $25 an hour will have more tasks, more complicated tasks, and higher expectations, those who cannot or do not up-skill and adjust are in for a world of hurt.
Going to be hard to cut costs when you have to give a raise to a huge number of employees.
To Chuckie, this means more cuts will be needed.
not $15 but $25 an hour by 2025
They will loudly say they will, but it won’t happen.
It'll be at the expense of the mid level employees.
The market, and only the market, should determine all compensation.
If someone wants more money, they need to develop more marketable job skills.
Regardless, Wells is spineless and will likely follow suit, but at whose expense?
OP here. That was supposed to be $25 an hour.