Thread regarding Wells Fargo & Co. layoffs

Demotivator of the day: Remember - Charlie Scharf got a 20% payraise this year

Something to consider when they give you that measly "merit" increase - i can promise you it wont be 20%

And this is in SPITE of record fines and the asset cap STILL not lifted.

Wells Fargo gives CEO Scharf a 20% pay boost to $24.5M

Dive Brief:

Wells Fargo is paying CEO Charlie Scharf $24.5 million for 2021, the bank reported Monday in a filing. That’s a 20.4% increase from 2020’s total of more than $20.3 million.

The pay breaks down to a $2.5 million base salary, a cash bonus of nearly $5.4 million, $10.8 million in performance share awards and $5.8 million in restricted share rights.

The package makes Scharf the fifth-best-paid CEO among the six largest U.S. banks, trailing all but Citi’s Jane Fraser, who received $22.5 million for 2021.

https://www.bankingdive.com/news/wells-fargo-gives-ceo-scharf-a-20-pay-boost-to-245m/620388/

by Anonymous
| 1571 views | | 8 replies (last January 24, 2023) | Reply
Post ID: @OP+1kMz7SiE
Comment! It's anonymous!

8 replies (most recent on top)

That's nearly $12k per hour he's making. He literally makes more money sitting down on the can and squeezing one out than I make in a week.

by Anonymous
| | Reply
Post ID: @4rnf+1kMz7SiE

And his brilliant strategy for Wells is... do what everybody else does. So glad he's getting paid top dollar for that bold strategy. Slash staffing to the bone and customers can deal with long lines and appointment only banker service. So glad Wells is just like B of A and Chase now.

What a clown.

by Fu---t
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Post ID: @1kju+1kMz7SiE

He's gonna get fired this year watch.

by Anonymous
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Post ID: @ldi+1kMz7SiE

Chuck is flipping us all off on his way to the ATM

by Anonymous
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Post ID: @xmx+1kMz7SiE

While we wake up to unnatural alarm clocks, shove food down our throat, and race out the door to be at our mustard-colored offices in time to collaborate online at 8am. They literally hate us. Might as well give us our boosters now.

by Anonymous
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Post ID: @arm+1kMz7SiE

He deserves every penny!

by Charlie’s mom
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Post ID: @crp+1kMz7SiE

You mean last year. Keep digging up old news though. I also hear that Wells is buying Wachovia.

by Anonymous
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Post ID: @gkq+1kMz7SiE

His lack of results during his tenure doesn’t justify the compensation. I give him “Inconsistently Meets” in every metric possible. The Robber Barron audacity of what the board opted to reward him with in the face of continuing regulatory scrutiny on his watch is just putting lipstick on the good old boys club. At least buy the rest of us dinner before having your way with flowery under the table Chaz.🤦🏻‍♂️

by Anonymous
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Post ID: @qas+1kMz7SiE

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