Has anyone received word on this year’s bonus amount. Curious if it’s flat with last year, more or less.
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My bonus is less than last year, along with a less than 2% raise. Sure hope all the fines are paid now.
Bonuses were meant to be lower due to the pass or fail annual review process. I worked at WF during late 2016 when it was announced on the internal Team Works web portal. They allowed employees to comment and there were many perhaps hundreds of comments. One in particular was made by a black lady in the Charlotte, NC area who said that she knew their intentions were bad and called them out for it.
She said that she worked at another bank prior and they were fined a lot of money like WF for misconduct and had to cut costs. Their solution was to implement annual reviews of pass or fail to cut annual bonus payouts to pay for fines and legal costs. The payouts went from between 15% to 25% on average to under 10% and less.
So the entire point of annual reviews of pass or fail was to lower employees' bonus payouts to cut costs to pay for the fines and legal fees.
Bonuses are due to be paid on the March 8th paycheck, unless there is something fishy going on.
The board hasn’t voted on whether or not there will even be a bonus this year.