I'm interviewing there. Any big recent layoffs?
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Post ID: @1shr+1h27nhGM
Yes a trader’s pay is great at other firms - not at Wells Fargo. The managers take it all for themselves.
CIB has always been feast or fast. When things are going well, CIB makes money and people get hired. When things go bad, CIB is always one of the first groups to be cut hard.
Don’t count on it.
Concentrate and ask again.
@1ull+1h27nhGM Someone doesn’t know the difference between WIM and CIB?
@1ull+1h27nhGM, you’re joking, right? Traders compensation is mid six figures to seven figures.
Ask around before you apply for a “trader” position. At WFC now, they are not much more than Service Reps in a Call Center. Systems are so outdated and non-intuitive that you’ll spend all day answering phones giving out quotes, manually plugging orders into automated trading systems, fixing errors, and walking FAs through entering orders. Not much trading going on in trading at WFC any more, unfortunately.
This is a good question. All things equal, if an area has a high layoff rate his/her chances of getting laid off are higher. It’s called a prior
Not sure what role, but WFC is trying to grow CIB. If you're a trader, you'll be good as long as you perform. Compliance seems to be always hiring. Outside of that who knows, but if they are postings reqs then I'd doubt they'd lay you off.
In your dreams bro
@uux+1h27nhGM Even the best get laid off. Based on your knowledge and attitude, I don't have much confidence you'll be here any longer.
So Ops and Control are no longer part of CIB and they are enterprise functions as of today.
Front office is high risk high reward.
Layoffs in frontline or compliance? I’m in compliance and seems like we’re always hiring honestly but attrition has been high
Your skills would be the best defense against layoffs but based on your question I don’t have much confidence
There have been rolling layoffs throughout every department for 3 years now, and it's looks to be continuing.