Apparently there have been some talking points given to managers to help soften the news of no raises this year for higher end earners, specifically in risk. Can someone post those talking points? I want to know what is bs and what is genuine from my manager. Thank you.
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You must be new is you think that's an outrageous proposition. Your manager doesn't know anything relevant and will be downsized right along with you.
Here are the talking points that I used: 1) based on your compensation, you will not be eligible for a salary increase this year. 2) it was more important that we provide Charlie Scharf a one time $30 million retention award. 3) we appreciate your contributions, and please keep up the good work.
Can’t even find out what the midpoint is HR told me I had to ask my manager who said he didn’t know
"You work at Wells Fargo" normally says it all.
@a6 yeah, but at least the person would not longer be at an embarrassing company with the worst leadership in corporate world history :)
I attended a HR call about it. It was a joke. They would say something then try and walk it back. It was a shi*show. They said they would provide talking points, once the people who made the decisions 'approved' it.
Just a rumor so who knows, but I've heard no raises if you're over mid point in Risk.
@an got it right for the “high earners” - has been in place for several years.
There’s a new wrinkle though, for some job grades where maximum is less than 250, the maximum was lowered this year in area 2 locations (e.g. charlotte, phoenix, Des Moines). So I have a high performer who I can’t give a raise because their salary is now over maximum for the job grade
@a4 and the cookie will contain synthetic dye.
bank has had a high earner policy for years, regardless of your market area. they publish it and for last two years high earners are classified as making over 250k base. so if if make more than that you won't get a merit increase, unless of course you're an executive. also, for those not over that amount they still give you very little. so while a AUs merit budget of 3% includes the high earners they trickle down that money to promotions and lower paid individuals. us high income earners also have to pay higher med insurance premiums. there are also separate talking points about those in non core locations getting not merit increases that are covered in a recent post.
@a6 I actually got a 20% pay raise. I realize that's less probable given the current market, but I did end up making more $. It can happen.
So, you don't or won't believe your manager but will believe an anonymous Internet board?
Theres the door if you want to leave but prepare for a 30% pay cut. Talking points complete.
But, you'll get a cookie during employee apprciation. Assuming you make it to the break room in time.
Talking points “ you are lucky that you still have a job” . “ you are grossly overpaid”.