I don’t believe anyone would be satisfied with less than 6%, but we should be realistic.
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lol, getting 6% on average is a fantasy.
I left and now make double what I made at WF and at a better company. Don’t wait for something that could happen or won’t happen. Take the lead in better compensation by leaving just make it the right move.
I’ll be stoked to see 3% raise and 65% bonus funding.
So does your pay…
People talk about a bonus. But it gets taxed at 25%!
Given the inflation that's occurred and will occur you can't keep up unless you get a promotion with a decent pay or bonus bump. Otherwise you'll need to move internally for a small bump or externally for a large bump. I've had a bump as large as 40% switching firms - but that was due to being underpaid (by Well's at the time lol) and then moving to a market rate. HR updates the market rates to and pays them to new external hires - but since you're already here you get the "Internal WFC" employee discount. I know a guy that was paid $65K and year and got a job across the street for $100K - told his manager he was leaving - manager said you're a top performing employee and we don't want to lose you so we'll match it. Guy was like W_T_F??? You knew I was a top performer but you underpaid me for years? Bottom Line - don't settle into a role and camp out - you've got to move around a little to keep the salary moving north...
I'll take a paycut if I can listen in to SVB's ask me anything show every month.
6%, lol, good luck!
Honestly I'll stay even without a raise. The job is easy, environment is comfortable, and it's satisfying.
This is forefront for me right now. I hate to start over at a new company but this place is such a CF that I'd be willing to leave for a lateral move. It would probably take ~20% + a promotion to keep me here, and I don't think that's going to happen.
Raises have been pathetic for back office staff. It's always been about the bonus. Since we're losing current bonus structure (and future payments could be in WF stock, etc.), then raises should be higher going forward to make up for the difference. Will that happen? Highly doubtful.
- Inflation was adjusted by about ~6%. Wells doesn't like to face that reality but it's a fact that anything less is a pay cut.
- Base pay increase for company changed from $15 to $18 (20% increase). So since I'm a bit above, I'd settle for +10% to match and keep up with our company minimum and avoid a compensation compression and backsliding.
- Year end review got great feedback with almost all 'exceed,' so a high merit increase for performance would be about 3%.
Overall, 18% increase.