Was offered a contract position at another big bank, but I am trying to figure out how Wells would find out.
I am not planning to update my LinkedIn or talk to anyone else on my former team about what my plan is. I have about 45 days left for my notice period, but it is titled "Nonworking".
Anyone else thought about this or have any feedback?
You're fine. Wells can't prevent you from working. People double dip ALL the time. I was in HR at WF, displaced on 1/5/2024. Displacements will go on thru December, 2024.
Absolutely do it.
Please stop giving the OP bad advice. It's not "mythical" lol. Contract/agency payroll is also listed on The Work Number. Most companies now report to The Work Number through Equifax. If not through them, they report through another but The Work Number is the biggest. And yes, they have information going back for years and years. They have your payroll info, how many hours you worked (full time vs part time), health insurance info, etc. This is all FACTS and if you want severance it is not worth it to risk it.
I am not sure about whether Doordash/Uber would jeopardize severance. Would get further clarification on that.
Whose payroll are you really on as a W2 contractor? The agency’s last I knew. So how does this mythical detection happen?
(Let’s skip the unlikely scenario you can contract under a bona fide fixed price contract perhaps billing out through a LLC or whatever. Which also would insulate.)
If you have a 2nd job outside of banking, is this an issue ?
Can I do doordash or uber eats delivery during notice period?
From another post, Equifax's "The Work Number" is key.
We are entitled to freeze our data on that site, though it requires some actions to get a login.
Even if you do freeze the data, considering how WF, Equifax and all that jazz are sleeping together, I bet they could still dig up data on your employment.
Best to get a part time job in a different industry altogether.
Nope, don’t do it. Even if you’re a contractor, if you are having taxes withheld, the info is readily available via the service cited on this thread. During your notice period you are still an employee and if you are found to have taken other work (doesn’t matter if it’s contract or employee) you will be considered to have resigned, and your severence will be terminated
It is ok as you were already given notice. Start your new job just dont tell anyone.
What if you already had a second job?
Not worth the risk if you have a chunk of severance.
Not worth the risk. Accept your start date as anytime after the 60-day grace period ends. Use this spare time to up-skill. Finish your time with Wells and go from there. Congrats on getting severance. Despite the ups and downs and the lessons learned, it's nice to see some folks getting severance. It's just a business after all. We can't be upset forever, it's not healthy. Part ways quietly, be respectful, and enjoy the pastures elsewhere. Don't look back.
They will find out. All of your work information is listed on The Work Number. Paystubs and everything.
I know someone who lost their severance doing this. They will find out,
If the new position withholds $ for social security and unemployment benefits I wouldn't do it. You can get away with it in some states (like MT, SD, ND) but most have systems where the bank will check. They were checking over 1 year ago. I don't know if they check now (a lot of the "compliance" people were laid off/offshored?
FAFO
Be careful! The “non working” days you’re still considered an employee. Once severed-go for it.
“ Don’t do it. There is a record if you earn wages during the non working period. If you work during this period , it’s deemed as voluntary separation and you will lose severance. They will find out, unless you earned cash.
Um, what record?
And the OP can double dip until he gets caught by Wells.
Don’t do it. There is a record if you earn wages during the non working period. If you work during this period , it’s deemed as voluntary separation and you will lose severance. They will find out, unless you earned cash.
Go for it, just don’t brag to friends or colleagues about it. In this environment, some malcontent will drop a dime on you to HR and do so with glee.
Wells Fargo double-dips our customers all the time until they get caught by the regulators. It's a double-standard.
If they find out you lose your severance
Go double dip. The second they give you notice you can double dip.
I wouldn’t risk it.