US employers say they are expecting an increase of pay by 6 - 9% on average for 2023. Looking at the inflation, ga price, rents and overall increase in prices, my guess pay raise this year could be above 5% average. Any inputs or leaks on this please?
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You’ll get NOTHING and LIKE IT!!
Charlie the scumbag CEO needs another Ferrari, house in Aspen and kids graduating from Harvard after spending 12 years in private schools that cost MORE THAN HARVARD! Now sit down, shut up and do menial tasks you peon!
@ahp+1j1B0Ffo I feel bad for you. I guess you don’t value the work you put in or yourself. “Expecting 0” is the clearest form of Stockholm Syndrome I have seen here yet!
You are worth more than 0.
You don't need more money - you need Python Skills! Charlie just needs 40 people making $100,000 a year to automate their jobs and leave the firm - and BO-M! Just like that he can get another $4,000,000 bump offset by the little people leaving! Who's willing to help?
Was already told my budget will be the pathetic 2%. It’s insulting, especially if it’s announced that our ceo has received 20% again.
If average pay at WFC goes up 6-9%, it will be because of what they’re offering new hires, matching of external offers for the people they can’t afford to lose, and for promotions. Those who get raises via those means will see pay increases much higher than 6-9%, but they’ll average out with the people staying at the bank in the same role, who will see 1-2% for the most part.
Have insight into the coercive strategies to push mortgagees into higher interest modifications when they could have received partial claims following COVID forbearance? To delay timely service while laying people off?https://www.whistleblowersofamerica.org/about-us/board-of-directors
It's called "stagflation", or the new term Bidenflation. Inflation out of control, but your wages are stagnant.
Every year there is some excuse to not give respectable bonuses and raises. Economy and business could be great and they blame it on the “expectation” that economy will get worse. Economy/business is doing worse and they blame it on that. The only ones that don’t hear that bs are the c-suite who seem to get unaccountable benefits while laying off and reducing all the employee benefits. No way, WF is going to give anything more. One thing you have to remember with this company is once they reduce or take away a benefit because of a bad year or whatever the popular excuse, you never get it back or never improves.
Oops! I almost forgot. They changed the job titles on us recently. The actual position is Senior lead Director of executive senior level management (Senior break room stooge).
When you visit the WF executive cafeteria in NYC, be sure to ask for the Russian caviar and Melba toast appetizer. It’s not on the daily menu, but just ask for the ‘executive app’. They’ll know what you mean.
Ok, hold the phone.
How do I get a job as a Break Room Stooge?
Hold nothing back in your reply. Don't assume any detail is too small. For the love of all that is holy and unholy, I'll take and and all info I can get in making this career transition.
Senior Lead Breakroom Stooge. I really like the sound of that. Especially if I can get a RTO exemption.
If you don’t get a bonus, then next time don’t apply for teller/mail room/Director of first impressions (receptionist) positions. Aim higher. Apply for the Director of executive senior level management (Break room stooge) position. You’ll get your bonus, company car, company driver, health club membership, Priority elevator button, Brioni suits, Personal manicurist, etc.
I always expect 0% and then whatever we receive is a positive.
Have to break it to you upper clusters but the majority of the bank never sees a bonus.
Thanks for my laugh of the day. 🤣
When I get my nice big fat and juicy WF pay raise and super Duper annual WF bonus, I’m going to invest it all in JPM stock.
I bet instead of 1-2% we will get 1.1-2.2% Bring on the party!! Never fear though Charlie and the JPM crowd will get their 20-30% increase.
don't get excited....and don't beat me up for saying this, I'd be very surprised if Wells Fargo actually increased merit % . Maybe for some, but not in my LOB....which is tech. And those that bonus, don't expect that to increase either. When mgmt says BIG changes are coming, they don't mean compensation.
Give the dead weight more money. That will work out well. /s
I'll believe it when I see it.
The corporation is cutting costs. They want people to leave. Bigger raises means higher severance.
They can say whatever they want now as raises aren't locked in yet. And then say, sorry guys.. recession.
Pay raise!!! LOL. That's a good one. Remember, CS thinks nearly every job at WF can be replaced by off shore. If you think you can do your job at home, your job can be off shored.
Right, bigger by .0001%.
That'll definitely help inflation. lol
It ain’t happening. Economy going into the sh----r just in time for bonus season. Perfect excuse to give cr-p raises and probably lay off more people as well
Look at the distribution of available jobs in APAC versus the US. Expect very little, they’d rather have your position overseas
I recall last year I received the largest bonus of my whole career. It’ll be interesting to see with the new job titles if I receive a pay raise. I recall being maxed out on my last job title based on area differential.
I believe it when I see it
Bonus is bonus....what we want is big raise in base pay to meet the inflation at least 9% increase.
Charlie scharf did say in a town hall a month or two ago that raises will be bigger this year. That’d be great!
Not long ago on this board, someone claimed the bonuses are decreasing next year.
So if bigger raises are in store, that might be offset by a smaller bonus.