Thread regarding Wells Fargo & Co. layoffs

Whether you have a bonus or they find another avenue to pursue such as TVC (Total Variable Compensation)......"THEY WILL" %u-k you over on it. That's just what Wells does......stay long enough and you'll figure it out.

My bonus last year target of 30 percent was 38K. I prefer to keep it even it it’s paid at 85 percent target. Eat your hearts out.

I work as a personal banker in a branch and let me tell you, they absolutely do not need to cut bonuses.

I have been working at the same branch for three years, it's in a good area but I will also tell you that we are one of three branches in our area. We make full payout on customer service, household growth, and customer growth every single quarter. Why? Because we work really hard, together, to make it a good branch. It's a good vibe when you walk in there, no one is talking to each other ignoring customers. We put the customers first. And on top of that, we make a lot of our bonus on our loan volume and the 40% of mortgages we refer. SO EASY!

I recently helped another branch in the same area. Completely different feel. You walk in, no one greets you, the tellers are rude, the bankers act like you're wasting their time. One of the bankers said they rarely get a bonus and I under stand why.

You can't take away bonuses for the people who put in the work so they are paid the same as those who don't put in any work and treat customers like cr-p.

1ufl+1dP1qiyw Enjoy your jellies of the month.

@1ufl+1dP1qiyw can't wait for uncle Eddie to show up with a chained CS.

"The only thing worth worrying about is doing your job well. That's all you can control. Do that and things like bonuses will take care of themselves."

I've found out that's not always true. There were years, when I was in WFHE, when WFHE didn't even receive bonuses. Many of us had put in the hardest working year of our lives.

With this years bonus check we’re going to put in a swimming pool. In order to get it done right when the ground thaws, I had to put down a hefty deposit and well we don’t have enough in the checking account until that bonus check comes through. And if there’s enough left over, i’ll fly all my cousins down to help dedicate it.

I don't spend more than a couple minutes per year thinking about my bonus, usually that's right after my boss tells me what it is. I do my job to the best if my ability and if it happens, it happens. It's entirely discretionary, so no one should be budgeting based on it, so why should there be stress about it? The only thing worth worrying about is doing your job well. That's all you can control. Do that and things like bonuses will take care of themselves.

I personally appreciate my bonus... I prefer it over not being bonus eligible - which was my situation for many years.
I don't count on it, factor it into my budget or necessarily expect it every year. So far I haven't been disappointed and it's paid for some amazing vacations.

Wow. I'm not bonus eligible. Guess that means I'm incapable of budgeting, saving, or creating an emergency fund according to some posters here...

Post ID: @bei+1dP1qiyw

Basically the Chase playbook where the execs get a big piece of the p-t and the regular employees get squat.

The best way to deal with a bonus structure is to never count on a bonus and if you get one bank it.

That’s how you build an emergency/unemployment fund.

Anybody saying bonuses are a better budgeting strategy than a higher base rate shouldn't be working for a bank smh

So we give up our bonus but Chuckie Cheese keeps his? Not so fast OP.

@abb+1dP1qiyw

Useless poster.

They will not do that simply because they hold people hostage for bonuses.

If Wells Fargo can find a way to further stick it to their employees: they will. It’s the only constant we can depend on.

useless topic

What does this topic have to do with layoffs?

It also ensures planning for people leaving after bonuses hit. If you know most will stay to get the pay you can accoubt for that

@bfz+1dP1qiyw

Thanks for the least meaningful contribution to this discussion.

saying "hence why" is basically saying "why why" and is redundant.

I have control over 0 things that are tied to my bonus. It’s all based on corporate performance rather than individual performance.

Companies love bonuses because they can hold back comp in bad years. Salaries lock them in for comp regardless. They are making it more discretionary to further adjust with smoke and mirrors

@ugm+1dP1qiyw

How does going all year not knowing how much, if any, bonus you'll receive help you budget?

A predictable amount of money is always easier to budget for.

Disagree, I think it helps foster better personal finance habits. It’s harder to budget and save each month then it is to just save your bonus.

Well, they're moving away from targets to purely discretionary bonuses, so it's kind of moving in that direction. No one will know how large the pie is or how large their share might be.