Thread regarding Wells Fargo & Co. layoffs

February bonus

While WF does give a very decent bonus, like everything else they do, they somehow seem to almost HAVE TO throw a wrench in it somehow (as if they just can’t help themselves).

So, instead of making the bonus check a separate off cycle check, as I believe most places do, they lump it in with a regular paycheck. It is absolutely so muddled that it becomes virtually impossible to determine how much is your actual bonus, since the tax rate on the check is higher than the sum would be on 2 separate checks!

This is totally besides the fact that last year, the request to have 0% withheld for 401k was totally ignored. I am so used to WF screwing up absolutely everything they do, I didn’t even bother complaining.

I’ve been here long enough to see that WF probably has some sort of committee way high up that when given 2 choices, they rhetorically ask “Which one screws over our employees more??? We want THAT ONE”

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| 3756 views | | 16 replies (last November 9, 2023) | Reply
Post ID: @OP+1puacgTO

16 replies (most recent on top)

Your paystub/voucher in Workday shows the breakdown between regular pay and incentive bonus.

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Post ID: @1ygz+1puacgTO

Shart loves when the peasants put their 401k match to zero during bonus check

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Post ID: @nie+1puacgTO

lets see , gross pay is x, last paycheck it was y, x-y = bonus. Also, your manager tells you exactly what your raise and bonus is ans the worksheet states %

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Post ID: @enz+1puacgTO

Been at WFC a long time and never considered this to be an issue. Seems like a reach

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Post ID: @zmc+1puacgTO

If you set your 401k to 0 just for your bonus, you are losing money, given that they will match contributions at the end of the year. Maybe set it to 6% if it's not already at that number.

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Post ID: @yrs+1puacgTO

Wells Fargo USED to have good bonuses and raises.

When they changed all the job titles the conveniently left out the % bonus max you could receive in your position.

When challenged they claimed having a max % stopped them from giving you what you really deserved.

What a load of cr*p that was.

Just another way to sc--w us over and try to make us leave while Chuckles can claim cost savings..

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Post ID: @ost+1puacgTO

Yeah, i like to set my 401k contributions higher for my bonus. Good time to make a big contribution so the rest of the year they can be smallish and still get to the $22k limit by the end of the year.

It would be nice, actually, if WF didn't impose the artificial 50% limit on contribs. Like, why can't I contribute all of my bonus to my 401k if I want? Presuming it's under the IRS limit it should be allowed.

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Post ID: @gad+1puacgTO

Bonuses are taxed correctly even though they're in one check.

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Post ID: @oaz+1puacgTO

Some bean counter, who is probably long gone, figured out that Wells could save a small amount of money by not running the bonus through separately.

It’s the same a-hole who brought us non-absorbent toilet paper.

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Post ID: @ltv+1puacgTO

@cfq+1puacgTO

Stop trolling just because you have nothing better to do. Get real!

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Post ID: @nqo+1puacgTO

@vqq+1puacgTO

I tend to agree. Just out of college, when I was a junior employee at one of the Wall St. investment banks, I got at least a $20K bonus and a $10K raise each year. Of course, those amounts increased a lot more when I got promoted. But after I came to Wells Fargo, my bonus and yearly raise became a half of the amounts I was getting from the investment bank.

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Post ID: @dml+1puacgTO

OP, WF does NOT give a decent bonus. I have worked for several different companies throughout my career, and WF's bonus is the smallest of all. Investment banks like Goldman Sachs, Morgan Stanley and Merrill Ly--h gave me a huge bonus compared to a small bonus from commercial/retail banks like Bank of America and Wells Fargo. Wells Fargo is very cheap.

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Post ID: @vqq+1puacgTO

What’s a bonus??

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Post ID: @ilv+1puacgTO

Who cares? This is a layoff ite. We don’t care about your whining!

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Post ID: @cfq+1puacgTO

There was a clear deadline listed on Teamworks last year about the cutoff date to make any changes to 401k withdrawal for that payroll/bonus check. Sounds like you missed the date.

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Post ID: @quo+1puacgTO

why would you set your 401k to 0? if anything you should increase it. likely you didn't submit the request soon enough.

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Post ID: @xub+1puacgTO

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