Thread regarding Wells Fargo & Co. layoffs

Aside from arrogance

Why does Wells conduct itself as though it’s a desirable company to work for?

They’re behind technologically, always in the news, fail to adapt to the current work environment, consistently diminish benefits and have bloated layers of middle management that micromanages.

Yet they feel as though they’re in a position to demand people move where they want, go into their antiquated offices and remove any initiators of whether a team member is being fairly compensated.

People are still the competitive advantage even if we don’t say it anymore and Wells is going to have a difficult time attracting people as the millennials/gen z become the desirable talent. I envision wells will become a springboard company used to advance your career at another firm but not one you will build a career at

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Post ID: @OP+1gslLobX

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@1glh+1gslLobX

That is exactly what I've seen being here for 14 years, all in tech. Currently looking outside the company and to be honest, the only reason is their raises have not kept up. A lead developer with 20+ years of experience should not be making $112 even in the lowest COL state.

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Post ID: @1zwd+1gslLobX

Yeah depends entirely on the role. For tech, your starting pay is usually close to market, but the mediocre raises will quickly lead you to be far below market if you stay longer than a couple years.

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Post ID: @1glh+1gslLobX

"@iik this is the exact opposite of what Wells is known for in our industry. They have some of the least competitive pay in the market. Your claim is absurd."

Like I said, it depends on the role. I am 20% above market. I get lots of feelers from recruiters....calls that end pretty quickly when I mention my current base.

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Post ID: @dsb+1gslLobX

@iik this is the exact opposite of what Wells is known for in our industry. They have some of the least competitive pay in the market. Your claim is absurd.

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Post ID: @paj+1gslLobX

Only mean springboard in the sense that young people need experience somewhere and wells is desperate for young talent so I could see and have seen kids out of school use wells to get a couple years experience to get where they want. The landing pad is true too. Either way it seems like the company is fine with not having tenured employees which doesn’t really work anywhere

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Post ID: @kwm+1gslLobX

Because at least for certain roles, they pay significantly over market. That's what has me here.

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Post ID: @iik+1gslLobX

Not so much a springboard as a landing pad.

Nobody who does any research is going to seek employment here. However, everyone who is nearing retirement who is already here (who is not willing to start over someplace else) is going to stick around and coast.

I was with HR at another large company that was in a similar situation. I'd love to see the employee stats here pertaining to age vs tenure.

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Post ID: @rpt+1gslLobX

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