So I joined WF right after college and it’s been 2 years or so but I don’t see any promotion that is lining up for me, to be honest. But I also heard that we should get the first promotion after serving for 3 years. Therefore, I am wondering is it worth to stay for another year to get the promotion or its better to leave now.
Any inputs will be appreciated.
WF is not the right place for somebody who's just starting out, fresh out of college. You don't want to stagnate here.
However, WF is the perfect job for somebody who is on the razors edge of retirement. Somebody who is at the end of their career just wants to quietly earn a paycheck for as long as it lasts.
What passes for stagnation from the perspective of a 20 year old is security for a 60 year old.
Sounds like Chase. Hmmm…
Even if you do the job above you for years without the pay or title, you don’t get promoted. They save money and get bonuses that way. I know of several examples and have experienced it myself.
Many of us aren't even looking to move up. It's more that our skills and responsibilities in the same position for years have grown to the point that we have the knowledge and/or are doing the work of, say, someone a level above us -- only without the pay or the title.
If you suck long and hard enough there’s a reward in it for you
Good luck. I spent a decade getting recognized as a top performer, strong reviews and was told over and over again that I was being considered for promotion. Seven (7) years later, I was given one, sort of. It essentially got my job description caught up with the job I'd been doing.
Once again, empty promises that my next promotion would come much sooner. I finally resigned (with a new job in hand that came with a 25% higher salary) after an insulting raise and yet again no promotion.
My point...don't hold your breath. If you think you are worth a more senior role, I'd suggest you look for it elsewhere.
No such thing you must post and interview for new positions.
As a manger, why the heck would I want to have my best people promoted away...?
Same goes for training. I don't allow it (any more than I have to) because then my best people might leave and get better jobs someplace else.
Give me a break.
Who knew whites could be so fragile?
The joke threads…
@3qvb+1dMN6PGE
so what you are saying is that in the good old days, when white men were the only ones in all levels of management, they were all hired because they were better than women and other minorities?
In the good ole days, people got promoted on merit. Now, they get promoted on DEI factors. If you are a white guy, good luck. You will be best to get promoted by finding a new external role.
No one gets promoted here unless you move to a different area. Even if you are recommended for promotion by your manager, upper management denies it to save bucks. It happened to be twice so I moved along to a new role. My old area misses me I am sure with the knowledge that left with me but they made their own bed.
Promotions rarely come to you. You need to seek out the promotion. Check postings, talk to management. It won't just fall in your lap. Good luck...took me many more years than 2 after college but have moved up several times.
Two whole years? How are you not CEO?
I started as an Engineer 3 in 2009, worked my way up to an Engineer 5 in 2017. 2020 came along with job reclassification and I'm just Engineer.
Promotion, lol....
If your income isn't staying ahead of inflation, then you need to go. Please consider total compensation, but the longer you stay with one company, the less it costs that company to keep you. Change positions inside the company, or move outside to come back later. It's how most corporations work today. Skill up, then move along.
IMO anyone who comes back to WF just for a higher level role is second-guessing their true worth as a professional.
Smells like some entitlement issue
This isn’t a McDojo. You don’t get promoted based on time in role. You gain experience and apply for a new role or you perform and get identified for a promotion in your current role. Lolololol
The best way to get a meaningful promotion or salary increase at Wells Fargo is to leave the company, on good terms, and then come back in a higher position several years later.
Unfortunately, Wells Fargo places a higher value on “ talent from the outside.” To me, that says they don’t have any confidence in their own in-house training and mentoring, but that is how they do things here. I’ve seen it happen time and time again.
To add what others have said here, you could be an awesome performer and well deserving of a promotion, but things like budget and politics usually come into play. I wish I had a dollar for every person who I know who posted out because the bank doesn't really promote in place.
Some people confuse "eligible for promotion" and "should be promoted". That's not how things work. I'm not aware of any years of service based promotions anywhere in the company. Generally people that are top performers and eligible will get promoted but these things require justification. "She does a good job" doesn't cut it in many cases.
These things also tend not to happen on any kind of linear timeline. I've gone 7+ years without a promotion, and I've received 2 promotions in a 1.5 years, so don't expect it to happen like a "every 3 years I get promoted" type of pattern. That's not how real life works in the vast majority of cases.
Agreed with what most people wrote on here - the best way to move up is to find a new role internally. Promotions aren’t a normal occurrence - there needs to be a need for the higher level role (the job duties need to be different enough, more responsibility, etc). You often don’t just get a higher title based solely on performance. Move around a bit - has worked well for many!
there's no set timeline for promotions. except for 2x in over 15 years the only "promotions" I received were from applying for other internal roles and getting hired. unless you're super well liked they're not just handed to you and I can't stress enough its not about time in job, its ability.
Nearly 20 years here. I've been promoted once. Generally, the only way up is out.
In the 20+ years I've worked here I've seen 3 people get promotions.
One was to a major player of office politics.
The other two were recent job realignments, which really doesn't count. Particularly since going Exempt isn't necessarily a financial improvement.
For the most part people don't "get promoted" as much as they apply and are selected for new roles. Some jobs do have levels (and you may move up from Analyst 2 to Analyst 3 if you work hard and do a good job), but true upward mobility comes from active movement on your part. And that might well mean moving externally, even if you come back later on.
Honestly the fastest way to get promoted is to get a new position - given this idea that wells is using - it's like no more that 15% of your group will be top performers - and even then those people will most likely not get promoted...
You should be looking to change jobs every 2-3 years to maximize your salary increases. Sitting at one place will stagnate your growth and earnings potential.
Ask your manager how to get to the next level, perform at a high level, and be a model on your team. If that doesn't work, apply for positions outside your dept.
It is not about tenure, but performance. I have seen lots of people stay at the same level for years, but good performers move up and out.
Really depends on your dept/LOB. In many departments younger people can get stuck simply because there’s no where to go until someone senior leaves, and even then they may choose not to backfill that position.
If you don’t feel like looking externally you might want to consider hopping to another department at WF, that will often get you a bigger raise than being promoted within your current team.
Promotions are.not based solely on tenure. You need to increase your skills/knowledge, master the tasks and responsibilities at the level you're at, begin performing tasks above your current level and have a supportive manager.
That also assumes there is a promotional position available and budget set aside for it. It's not impossible to be promoted in place but your boss usually has those discussions with you. I would start with talking to them with a list of your accomplishments and strengths and expressing interest in a promotional opportunity while asking what more you need to do to qualify for one.
Their reaction should give you an indication on whether or not staying where you are would be best. Be ready for them to point out what MORE you need to do though. It's really not about tenure alone - it's tenure plus mastery plus ambition.
Good luck!
I heard someone telling someone else that they had been at wells for over 30 years and never had a promotion