As members of the working class, underpaid, and representatives of the client-facing employee, we are concerned about the possibility of being laid off in WFA. It is disheartening to witness nepotism at play as they hire two Market Leaders in NY and LI who are clearly unqualified, yet receive inflated salaries. Meanwhile, my $47,000-a-year job is at risk.
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They basically hired a CA in LI for a Market Leader!
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Managers have full discretion on which CAs stay or go. No way will WFA risk laying off a CA of a big FA or team. The team would leave.
Further, a CA may make $47k in Des Moines, but not NY and that's the subject here. Further, it's not like a CA is applying for a market leader role or a division role so tough to get too upset about it. It is glaring though but we'll see how they do. They may surprise us.
Oh snap someone just got served!
It is amusing to me that you believe $47,000 is false, which merely highlights the inequality between the wealthy and the less fortunate, and how absurd it is that they are reducing the number of CAs. This figure does not account for broker bonus pay, yet $47,000 is undoubtedly an accurate amount outside of major cities. Please remember that if they eliminate CAs, they are not keeping the money saved from the brokers' contributions, that goes into the brokers pockets not WF
They are laying off some client associates, although it's not as high as 20%. They are probably laying off the ones they shouldn't, because there's no manager input, unfortunately which is criminal. I know you're trying to disguise who you are with your salary, but 47k is below the job minimum and totally untrue. Most CAs make in the $60s, 70s or 80s. Some 90s.
Unfortunately, they need to.
If you're only making $47k and in NY, that's in you.
Unfortunately I think they are referring CA’s or Client Associates on the WFA side. I heard they are cutting 10-20% of them.
Client facing employees are not included in the location strategy. You should be fine.
Wells Fargo is a blackhole of the banking industry where all sc-mbags come to congregate. I think you can find a better job somewhere else. Why stay in this cesspool?