Is a year end 2 or 1 rating the quiet firing?

I’m not super articulate so please pardon me - if you want to vote me down, fine - but I don’t know how best to express myself here.

I wanted to share a snippet that has gone viral on this board. Now before a few years ago - we didn’t have forced rankings and we had targets. However that has changed in the past few years. Also in official policy is that if you get a 2 and then another 2 or a 1 and another 1 etc your bonus has to be less by 10 or 20 % than the prior year. So - under the old regime - expectations remained the same if you got a low YE rating - but now - implicitly expectations recalibrate under baseline budgeting - and you wind up having lower responsibilities or maybe the same responsibilities but just lower values while you are in the same position if you take a hit at Year End without being laid off or even if you get a YE Meets but low comp one year.

Is this a fair way to see the new regime?

Here is the viral post that is much more articulate than me.

Someone has posted this long time ago and It's very true,

"And really, the ratings don't matter much except it has a huge impact on comp. And with the new comp guidance, you are constantly setting the new baseline each year. Let's say you would normally get $30k for your bonus. A 2 rating would most likely drop you down to $15k or less. So you lose your $15k this year. Next year you get a 3. Generally that means you won't see much of a change from your baseline. Now that your baseline is $15k you stay at $15k. They don't move you back to what was your target bonus. It will take you years and years to just get back to where you were. Honestly, if you are a high bonus person and you get a 2 it's time to look for a new job. You'll be losing out on thousands and thousands of dollars until you are in a new position and your bonus resets.

Not enough people understand how damaging this baseline budgeting is when used in conjunction with a forced curve"

Comment! It's anonymous!

17 replies (most recent on top)

The lower ratings are just another cost-cutting measure. Bonuses are pegged to last year's and the only way to reduce them is to rate someone below Meets. That becomes the new baseline bonus going forward and saves Personnel Expenses.

WFC has historically paid way too much in bonus compared to other Banks and this is the way chosen to reduce it going forward, in a deniable manner. If you get pi---d and quit, that's even more savings.

WF has always su-ked compared to other banks I have been with. Big network of old friends and shoddy processes. Nothing has changed except the axe and complete distruction of morale

@2wnp+1qLkzkzw

Prior to 2009, I'd say. Benefits were much better and cheaper, we had a pension on top of our 401k, and you got the review rating you deserved without some corporate clown taking it away. Those were the days.

I got a sh---y review from my manager that was full of lies. The company has become a place I don’t want to work for anymore. Got a bunch of external interviews lined up in the coming weeks. Get out while you can people. I personally know about some negative news that will be coming out this year that will hurt the company. Looking forward to it.

@mtg+1qLkzkzw When was WF a “great company that valued team members/employees?!” I left the WFA dumpster fire after 7 years and couldn’t wait to escape. My complex manager was a complete id--t and acted like someone who was bullied as a child being the bully from heck. Every single person hates this person. All he looks at is his P/L and ways he can cut. One co-worker in manager’s office had a heart attack. He had her back on 2 weeks (I’m not joking). She had so many years end that she couldn’t quit. A truly vile human being. I left 2015 and hated working there.

Been rated exceeds or consistently exceeds every year for the past 6 years. Sadly my department was hit with huge layoffs over the last year and I was shuffled to a new manager and a new 2-up manager who didn't know me. It's pretty obvious they have their favorites as I was rated a meets this year although my deliverables/measurable results were the highest in our entire department which is in line with my track record.

I can attest to what previous WF manager stated. Though we have daily interaction with our direct reports, which one could reasonably assume gives us an introspective look into our employees performance, ultimately senior management makes the call on our employees comp reviews. Essentially they relegate us to puppets. For all of you haters out there, please know that MANY of our managers are actively seeking employment elsewhere, but much like myself and many of you reading this, we also have kids, and a mortgage to pay. A vast majority of us appreciate our team and the contributions they make!

I can share a snippet of info with you as a "low level" WF manager. Senior managers review our year end reviews and "recommend" changes to our reviews based on their "analysis". Bottom line is that what we as the front line manager recommends as a rating for year end review at times gets overturned and we are required to go with what our superiors decide. Probably not shocking to many of you

I get the putting unsubstantiated bad stuff in reviews now. Bonus lowered indefinitely. It will come back- Riiiight. A good way to get rid of the non favorites. Lower their bonuses every year so they look for a new job, or get "cheaper".

@ila+1qLkzkzw, so in other words your total comp actually rose $25k from 2022 to 2023?

Post ID: @ila+1qLkzkzw

What… ?!? You serious?

Inconsistently meets and got moved from SBEC to LBEC for the only purpose to match your “VP” title.

If true, WF is beyond broken.

I got a 2 this year which resulted in no baseline pay increase, a 5k bonus, but did get a title increase of a lead business from a senior business because of my officer title of VP. Versus a year ago, got a 4 with a 20k bonus and 40k payraise.

Going to be looking for a new position here next week.

Kiss your boss;s a$$ and all will be fine. Manager have no accountability to be fair in this toxic company

Yeah we do. 1 is does not meet expectations, 2 is meets inconsistently, 3 is meets…

We don’t rate on a numbering system at WF.

OP here again. I do understand according to policy they can raise your bonus however they want with a meets following a YE 2. But also in policy - they must continue to further lower the bonus after successive 2 or 1 ratings without operating committee approval..

Sad but true! Used to be a great company that valued team members/employees.

Thread regarding Wells Fargo & Co. layoffs

Is a year end 2 or 1 rating the quiet firing?

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