Thread regarding Wells Fargo & Co. layoffs

Been here over 17 years…last year was our first cycle with % of salary bonus targets. Mine was up to 25% before the change and it was in writing in my annual compensation statement. As others have said, there is really no target at all anymore. Now it is a straight cash allotment drawn from a pool determined by your manager, their leadership, and HR. Used to be able to reliably count on a minimum amount but its all up in the air now.

My suggestion: if they wont put it in written form don't count it as part of the offer.

In the old world it had a 20% target.

Doubtful that anyone was paid the full target, combined with the bank wanting to shell out less for bonuses (unless you're C suite), and I'd guess 10-15% going forward.

Things are in decline at Wells.

The people at the top somehow don't understand or care that employees will care less and less as we're paid less and less.

They are probably being wishy washy because they may not know for sure themselves. I work in a position with a similar title, and have no idea what my bonus will be.

In the old world, probably around 30%. In the new world, who the F knows.

@jip what do you mean, the bonus structure is changing” how so?

@ddm+1j8zNWba Very well said.

I believe the company is really shooting itself in the foot with these vague compensation tactics. We have issues with staffing and being able to hire experienced candidates in many positions, and now this is how the company expects to attract and retain talent? Unbelievable…

That HR and recruiter can not or will not answer your legitimate question should tell you something. Bank moved a lot of the bonus payouts, if not all, to discretionary category, decided by mgmt and HR. Very difficult, especially if any tension between you and management and very very difficult if your "manager" cannot do or has not performed in the position that you are looking to do. Mine did not know my job. So, if you can't get this defined, why would you want to work at WF? It's indicative of the evolved culture.

Target bonuses do not exist.

You’d be insane to work here

The bonus structure is changing but it’s not published yet. Assume the TVC (total variable comp) is the whole nut.