Thread regarding Wells Fargo & Co. layoffs

@2yhv that's true

I was once told that to go from Area 2 (Charlotte or Minneapolis type area) to Area 0 (San Francisco or New York type area) is a 20% increase. (Vise versa If going the opposite way) This was several years ago so I don’t know whether this is still true, but it gives a general idea.

Wow. So if Wells is getting rid of service managers then why they still hiring for these positions? Seems like a great way for an employee to sue the bank.
“Um yea lawyer, I just accepted this position and now being told it doesn’t exist, and am being demoted”
WTF Wells Fargo!! I hope everyone in the branches quit

I was informed that my position in my branch was no longer needed. I am a service manager that has been with the company over 10 years. This was about a month ago. No other information besides they would help transition us into new roles in the near future. I know I am making much less than I should be as there are some associate bankers making more than me. We all found out we would be transitioned to bankers but keep our pay. My branch manager was supposed to give me this news but of course I heard it elsewhere first. My meeting was canceled and instead I was given notice of a branch optimizing me to the service manager position since they have a higher fte and will be keeping that role for now. It is an extremely busy branch with several more tellers than my original branch...I was told I would not get an increase in pay even after bringing up to the Dm that I could have been just a banker for the same pay..and that had it been a position I applied for I would be paid substantially more. I asked if I declined if I could still be just a banker and I was pretty much told if I refuse they would just make me go....so yeah...that seems like a great way to treat your team. When I quit they will most likely be paying out more than just appeasing me with any offer of more compensation. With the range posted for the positions it makes it impossible to know if you are even being paid fairly.

@lva+1gnHfEuJ

I’m near the bottom of the pay range for my current role (got remapped over from a position with a lower midpoint but my salary was still within range).

If I were to get promoted to the next role in the hierarchy, they’d have to give me a 15% raise just just to hit the minimum they’re listing on the job board.

If you're already with Wells and looking for more money (from a promotion or higher position) the odds are slim you'll see more than 10%. Been here long enough to know they keep you at 80% mid-range, 90% max. If you want more money, leave and then come back in 6 months (or just leave).

The pay range listed is usually either just the range for the primary location the job is posted in or the range for all locations listed in that job posting.

My advice would be to look for employment elsewhere since Wells is going through laying off people again in July, September and at the end of the year. So if you wanna stay, all I can say is good luck. Also I would not recommend moving to keep a job with Wells either. You may move but then get laid off.