Last year, for those that were bonus eligible, or managers with the information, how much does having a 2 rating (inconsistently meets) affect the bonus, versus having a 3 rating? Thanks
16 replies (most recent on top)
I was scored as "meets" in every sub-category. Every single one. Yet my overall rating was "needs improvement". How the heck does that even happen...?
Bonus was about half of previous years. Merit increase was around half a percent.
I made more money this year between the 401k match and the 401k settlement than I did in last years bonus... :-(
It's been said throughout this post so I'm just sharing my own experience in REVs. 2020, I got inconsistently meets with a bunch of trumped up BS, some outright lies. Manager didn't want to hear any of it because he has his underlings write the reviews, just a lazy a-s. Bonus was 60% of the prior year which was not much. Zero pay increase, so 2 years without a penny increase in pay, disgusting. Experienced professional with over 30 years experience and have never been treated like this.
Layoffs today, said with a glimmer of hope!
no targets anymore.
guidance is that for someone rated inconsistently meets, their bonus must be AT LEAST 20% lower than prior year.
Expect to be screwed my friend!
If you get a 2, maybe you aren't as valuable or as strong as you may think. There are quotas but even 60% or so get 3s.
I left in the fall last year. I work at another financial services company and the difference in reviews is interesting.
Where I am now - you roll a 1 or a 2 and it’s automatic 0 bonus 0 merit. If you are again a 1 or a 2 at midyear you are gone before year end.
Sounds harsh but they also very sparingly give out 1s and 2s. No forced ranking - the reviews are a direct result of performance against objectives. I’m honestly shocked how many 4s and 5s people are getting. It’s almost like back in the day at WF but the $$ are way better.
Been in the bank over a decade and got a 2 for the first time ever. Was shocked and not happy. When do we find out bonuses?
Happened to me…rated inconsistently meets, no merit increase but did receive a bonus. It was probably 80% to target and consistent with what I received the year before.
Hope you didn't put a deposit down for an ingrown pool. You're about to get phucked.
Wells Fargo treats employees like garbage.
I got a 2 a couple years back. (Then I quit)
But first they sc--w you out of any merit increase because they are cheap sonofabitchez. Then you get 30% of the bonus so I assume the spineless shitbaggy managers split your other 70% of the bonus money. The point is…QUIT. They need you worse that you need them.
The manager guidance on a 2 or "Inconsistently meets" is to give 0-50% of target. I had a situation where last year I gave more than 50%, but I had to give justification on why. If your manager is not the type to do that, expect 50% at most.
And yes I know we have technically done away with targets but behind the scenes they still seem to apply.
I'll second what @hml said. Two years ago I was rated a 2. Got around 30% of my target bonus. No merit increase. I found another position at Wells and bailed shortly after that.
Manager here. Expect 50 percent of target.
OP, can't wait to find out for myself. 12 years of meets or higher, even a meets at mid-year and I just got an inconsistently meets for year end.
Couple years ago I got an inconsistency meets. Got a 5k bonus no merit increase.