Say what you want, but despite all the negatives, WFC still pays well. I've looked at several major competitors and from available data, they are all underpaying. I also interviewed with some and received an offer and I can tell you, nothing comes close to my pay here. This place su-ks, but at least we're well compensated for having to go through it. Downvote me all you want, but you know this is true.
23 replies (most recent on top)
Some at Wells are well paid, others are not. The one clear truth is that Wells compensation practices are wildly inconsistent group to group.
Meh
That is the #1 reason why I stick it out. I make an insane amount of money for what I do. That, and what I've been doing for the last 3 years is so WF specific, it is extremely difficult to translate that into real world job requirements.
I started coding, self taught at just under $80k. My team that didn’t want to do the coding got laid off, so there’s that.
Depends on what department you are in and if you are a chosen one. I'm underpaid and know many others underpaid at WF too.
I make 200k all in for doing some easy coding. It is chill and life isn’t that bad. But boring as heck.
Compensation is a business process. Like all business and banking processes, Wells has a poorly defined and managed. The initial scandal (compensation for "selling" customer's new cards) was rewarded by compensation.
If the confusion is working for you ... stay -- if you can handle it. I sense that tech at Wells is underpaid (recent <10 year positions), sales overpaid, and management overpaid. Keep your skills sharp. Learn what real technical processes are. Learn the differences about being a project manager to a facilitator. In your new job you will have to unlearn many things. In the end you will be glad you were separated.
Someone is controlling g the voting on this chain.
There is a single person on here down voting comments.
Whatever you say Charlie.
For people who say it’s not about the money have no idea what is at stake. Here in CLT, I make over 150K base. Movement Mortgage hires managing directors for 150K base. LPL hires Senior Managers at 130K. Truist hires strategic initiates consultants at 125K. I can go on and on. A woman taking care of her family cannot afford to just quit and make 125K. They still require in office and I would lose two weeks PTO having been here over 10 years and match for a year. I know of someone hired for 220K base reporting to the North American CEO of a manufacturing at a local company. So, once you get to the senior lead level things get very precarious. You call center and branch workers can jump all over town chasing remote work or 25 cents. Moving up It does not exist anymore. Most program manager roles still pay only 120K from 10 years ago. The market is rigged. Directors at other banks are only brought in at 130 to 140K max. It’s crazy. I have seen and walked away after discussing with the recruiters. The recruiters already know before speaking with us. It is very rare for WF to buy out someone’s TIAA stock grants and pay 160K and vice versa. You need to be highly niche. Not a biz x consultant.
If you are a manager, director or executive (the haves, the privileged, old boy's club), you will get paid a lot. But if you are just a staff employee (the have-nots, servants), you don't get paid much.
100 percent true and why I reluctantly stick around. I’ve turned down a few job offers over the past few years, and looking back maybe a mistake. But none of them paid what WF pays. Benefits are average at best, but the salary is tough to beat. I only have a few years left ‘til retirement, so likely staying put short of full RTO, in which case I will leave.
I can tell you as a director I am very well paid. I have been around a long time and have a lot of institutional knowledge. My employees may think I am lazy, overpaid, difficult to work with, etc… but the company disagrees with them 😝. Don’t hate the player, just love the game.
It pays more because you wake up everyday not knowing if you will be laid off or not. That conference call can come anyway. If the culture doesn't rot at your core values, you sold your soul to money and the devil is all I gotta say. That place ain't worth it.
It is not always about the money. Sounds like you are trying to convince yourself which is okay but there is more to a Good job then just 💰.
Depends on the sector OP, I know for a fact that the 3rd party providers giving us lower quality work get paid more than our internal people do in my area.
I think it depends on timing, location, job and talent. I left WF where I was making $190k plus bonus in tech for somewhere doing similar work, on newer tech, for $260k plus bonus. I had been looking for six months or so and had passed over one other offer that was same pay as WF, more or less.
I think timing is no longer in the employee favor but keep your skills razor sharp and you can write your ticket when it’s time to move on.
Enron and Madoff paid well…..
Wells Fargo wants to fool you in to thinking exactly that. And you are attempting to mislead people on this forum with vague, misleading and unsubstantiated statements. Can you do better here than working at Dollar Store? Yes. But our total compensation packages are average compared to other professional positions.
Every member of my family and friend in my circle has done well for themselves in other jobs at other companies and guess what?? They are working for companies who are NOT in the news for routinely breaking the law and violating their customers.
But if we don’t whine what will we do with our lives.
Read the other boards on this site. Start randomly picking out big brands outside of financial services and check them out. Check Glassdoor reviews too.
You will see similar themes only with different names and players.
The economy is getting tighter for white collar workers.
Other companies do the trickle layoffs like WF. Just enough to keep them out of the media. T-Mobile had been doing trickle layoffs for over a year until they decided to announce a big one to the press this week.
Many say their company is “toxic.” They’re understaffed. The executives are paid too much. Favoritism. RTO is being used to drive people out. Hubs. Employees are anxious. Do more with less. It didn’t used to be this way. Loyal employees are being axed.
Sound familiar?
Unfortunately we are not unique, it’s the sign of the times for the Fortune 500.
Wells does pay much more than my last employer who even admitted they pay less. I started out making 40% more at WF.