Does anyone have more details on this and it will work?
11 replies (most recent on top)
It’s the best thing to ever happen to wells if you are a top performer.
Bonus can be a combination of stock and cash with no defined target. No more participation trophies for the deadweight.
Now the top performers don’t have to share the majority of the pie anymore. They get the lions share and the deadweight get the crumbs (if any)
Thank you Charlie
Post ID: @1iac+1e6TrF4z
There is a bonus pool allocated to your team and your manager allocates from the pool after which it goes back up the food chain for approval. Your manager can reward high performers by giving them a bigger slice and vice versa. Aside from documented target percentages, it's the same as it's always been. What answer are you looking for?
I heard tech is impacted....
not a single person thus far has answered the question. nobody knows.
Ljbcdfjk. Cf?.,jkkookjgdsszcb
I think the real question is, will it benefit anyone except shareholders or people in the C suite? Historically, if I had a target of 25%, I might get anywhere from 20% to 30% depending some on my performance (i always get exceeds but the amount varied) and on the success of my LOB and the overall bank. Can I still get that 30% in the new system? Or will I get 10% and be thankful because a bonus is not guaranteed and there is no metric to gauge it against. It sounds good on paper, but it leaves a lot of room for WF to save on compensation and for individual managers to play favorites.
If you know the 'new' Wells Fargo, you must suspect this is a cost cutting program. It justifies cutting lower performers compensation. It justifies giving higher performers delayed stock incentives that they will lose a portion of when they leave the company or retire. You are working now for incentives that are less certain to payout.
basically, gives managers more flexibility to recongnize performers and if you are just doing enough to get by “meets” not so much
Yes.
It’s already been discussed for months in here.. search is your friend.
No idea and neither does anyone else I have talked to.