It's been 2 years since the new performance review of pass or fail has been implemented has anyone benefitred from it and what are the sizes of your bonuses if any?
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I got an excellent review and a similar raise. It’s not very motivating. I work hard. What if I did the minimum just to get by? Would I get the same amount?
I’m one who wouldn’t mind a package so lay-off threats are meaningless.
I was happy with my review, and I get along well with my manager and teammates. My raise was 1.5%, which is a little bit higher than it usually is (15 years at Wells).
I was originally hired at a pretty good salary, but since then the raises have been between zero and just under 2%. I don't think I've ever got more than 2%.
Mine was also below 2%. I had a good review too.
Mine was less than 2% as well...repeat of last year. NO lie here.
I just got my yearly increase today and it was a little over 1%.
The only two times I ever received anything more than 2% was when I threatened to leave. Both times were met with a 10-20% pay increase the next week.
The only way to get more money at WF is to wait till your boss is in a tight spot by staffing or some reason and threaten to leave. Or leave and come back.
Sad that I have to play these games with my employer. This topic is always a firm reminder that WF doesn’t care about me. Otherwise we wouldn’t have to play this game.
Something isn’t right if you received 20% pay raises over 2 years. My guess. Is you are very low in the salary range and so HR is requiring your manager to give a larger bump. But across the board, raises are 1-2%. But if you stick around after your whoppin big raise, you are giving up earning a lot more at the bank across the street.
I stated over two years received total of over 20% so over 10% each year and no job change
I think folks are confusing 2% raise cap with 2% per FTE.
What this means is that managers are given 2% for each FTE under them. So if you have 10 team members, you have 20% to distribute amongst the team. It’s not always a hard line as different things can come into play: did you receive a mid year raise? If so, probably won’t see much this time of year. Also things like where you fall in relation to your midpoint salary. Equal performers where one is making 70% of midpoint and another is making 90%, the one making 70% will most likely receive more.
When folks talk about 20%-50% raises, there must have been a change in job titles with a higher pay scale. I’ve never known anyone at any level to receive that type of increase with their job title staying the same.
Raises are not caped at 1-2% stop fueling that lie
Purpose of pass / fail is to reduce bonuses from
25% down to 10% to 15% for top performers. Since raises are capped to 1% to 2% bonuses going forward are lower.
I'm the one who has gotten 20% raises and I'm not in management
I've gotten my 50+% raises (sr. mgt).
In the two years since it's been in effect I have gotten just over 20% in raises. So it's working for me
They're cutting back on bonuses by doing a pass or fail rather than a full review.