Wells Fargo is laying off people and at the same time hiring executives which is ridiculous..I heard a senior engineering manager was recently hired with a base salary of 240k and an tech division executive was hired for 750k both from chase. Not sure if these salaries are true though.
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The biggest savings come from hiring less and the benefits savings for insurance etc.
the dolts in the c suite and exec committee will always be overpaid for their ignorance. (Exhibit 1 - Bill Daley
I am sure all the new execs break a million and there have been a ton of them, especially in tech where a lot of layoffs recently happened.
Coincidence? I think not. You folks laid off had your lives destroyed by corporate nepotism. I’m sure that makes you feel good.
Don’t forget about our new diversity czar, KS, who probably makes over a million to make people feel guilty about the way they were born.
Maybe wells changed their salary structure and start paying engineers higher.
I was poached by a wells recruiter in April to work in product. The high end of the range is $200k and was told to expect $180k.
The job responsibility is much higher than my current job, including managing a couple of junior PM, and I currently get $230k base. After hearing that, I'm not surprised wells couldn't hire good engineers and PM here, so they are stuck with the current technology mess.
So managers nearer the front line that actually get stuff done, the plan is manage a zillion directs or get fired, but at the top that whole span of control thing? Forgettaboutit!
We are definitely too heavy, with a new executive every week, when 100s are let go.
Thank goodness for the woke DEI positions… sure helps
Considering there are marketing managers pulling down $250k for working on PowerPoints, that doesn’t sound out of line at all.
In SF that's nothing, i know multi people who are software engineers pulling 500K+ easy. The problem with WF is they have tons of these management sort or skill less sort that create ill designed processes or setup meetings all day with the people doing all the work.
Engineering Snr Manager does not show up in the job families tool, which means it has a base salary of >200k. So depending on area differential 250k could be true.
I doubt if a senior manager's base salary is 250k when an engineering manager's midpoint is 165k
Posters here bragged about having double and triple salaries with great bonus and benefits when they got their job elsewhere. So it can’t be so surprising if people came to Wells also got the same deal
Those salaries do not surprise me. Yes, there is no dime spared for high dollar exec roles, while all the rest of us are being cut or told to cut back. Big banks for you.
Any chance we have someone in the Boardroom who worked at Chase?