My sources say massive changes coming to the comp plan (aka those mortgage folks making $2M a year, expect to make a lot less) and further reductions to product, tightening of credit policy, etc.
Comp is supposed to roll in a few weeks…..
Interesting times.
Truist employees were told not to expect bonus this year. Wells Fargo will be no different
Nobody at WF besides C suite are making that kind of money
I've heard some chatter about the comp plan and bonus plan changing significantly for 2024 - anyone know if there is any truth to that?
Those folks that work with HNW clients and/or WIM are probably ok.
I never expect any bonus, that way I haven't spent what I don't have and in the event I get a bonus I am pleasantly surprised. I'd say the avg rank and file that are bonus eligible, it's 50/50 right now