Employees make good money at other fortune 500 companies and still get good perks. Why is the pay so low at WF ?
14 replies (most recent on top)
"Pay is low, health insurance progressively gets worse, and there's no perks. It's not a fun place any longer."
When was it a fun place?
@1bxs you can believe it happened or not. My bank account sure believes it happened.
To those saying HR is trolling this post - tell me you either have no knowledge of the current job market or are in an entry level position without telling me.
@aju+1sQEwGtN you are clearly an HR troll. raises are only give to bootlickers. period. end of story. "exceeds" is subjective garbage that you have no chance of getting unless you tickle your manager's ballocks.
OP is a case in point for Wells Fargo overpaying for dummies
Charlie makes $29 million a year. He complains that his pay is lower than Jamie Dimon's.
it's all relative. Id say compared to other traditional banks the pay and bonus structure are similar if not slightly better at WF. If you're looking at fintech or outside banking all together the pay may be higher but in many cases the bonus structure isnt as faborable. I also think our benefits are pretty good and much better than most companies regardless of industry. While there be cost cutting on this area each year such as with health care and 401k changing to annual we still have the highest match I've seen and most companies are making cuts to healthcare. We also get a lot of holidays and have great PTO allowance, 18 days to start, 23 after 3 years, and 28 after 10 years with the ability on most cases to take your days before fully accrued. While there are plenty of companies that offer unlimited time off, that helps the company more than employees and you'll find most people with that benefit take less time. Grass isn't always greener.
The main way to be underpaid at WF is to get internally hired into a job that's significantly above your current salary. The trick to fixing that is to make yourself valuable in that job, then threaten to leave so you get the coveted exceeds rating for that year. Exceeds gives a huge raise if you're significantly underpaid.
Got the biggest raise of my career by pulling that move.
HR get lost! This forum is not here for you to gaslight us.
I'm another one chiming in on this. While I'm not currently in the job market (knock on wood), I know enough to know that my compensation is noticably higher than I'd get anywhere else regardless of industry or employer size. And I haven't been at Wells for decades either.
If your pay is truly low at Wells (relative to the market), you're an anomaly.
I was laid off 6 months ago from WF (yes I still check this page for all the tea). In my job search I found that not only does WF pay significantly higher than any other company I have looked at, but their benefits are also significantly better.
Pay is low, health insurance progressively gets worse, and there's no perks. It's not a fun place any longer.
Agree and they also pay better than outside the banking industry. Even looking at jobs a level up, it would at best be a lateral pay move for people at my level.
I am not saying it’s this way for every individual or every group.
As someone who was on the job market looking recently, Wells actually pays significantly more than the other major banks. It was pretty shocking. At least in Risk and Compliance from what I saw.