Thread regarding Wells Fargo & Co. layoffs

VPMeansNothing gets it. Don’t just look at the base salary. Look at the whole comp picture - PTO, holidays, 401k match, benefit costs and options, stock purchase plans, stock options, bonus structure, training reimbursement - I could on and on.

You will quickly come to understand that there are many places more attractive than WF who uses the smoke and mirrors of a high starting offer (then stagnant to no merits) and promise of a bonus “target” that is limited by funding levels and cash caps.

Cash caps? Yes, the number of max cash bonus that is then bait and switched to stock options that vest over 4 year periods. 2022 cap was $50k but expect it to be lower in 2023.

You made the right choice. I just left WF for 10% less base pay and couldn’t be happier. More freedom was more appealing to me - unlimited PTO, 401k match began after 30 days, medical benefits costs are significantly lower than WF.

You made the correct and same choice. As a longtime WFC employee, I wouldn’t wish this place on my worst enemy. It’s been going downhill for years and I’m afraid we haven’t come close to hitting rock bottom.

Request for the "HR here" guy/gal. Your posts keep disappearing and I think it's because of the whole "HR here" thing. Can you please change it to "I work for HR" or "HR-working guy/gal here" or whatever that doesn't make it sound like you are speaking for HR? I'd love to see your posts stay up because you provide invaluable information. Just my 2 cents.

@2tww+1jfpgo85 ... Dear dissenting voice, you my friend are wrong because your analysis doesn't factor in the he-l ho-e known as WFC. Your math might work purely on a dollar comparison but that is also assuming the options are only current job and WFC (not the case). The OP made a very sound gut feel decision and just has to keep looking for the right opportunity at a company without all the toxic baggage.

I am the dissenting voice here. Mathematical you chose wrong. $120k base + $12k in 401k match = $132k current. Wells $135.5k base (13% rounded down) + $15k bonus (you say up to $20k so let’s be ultra conservative) + 6% 401k match $9k. = $159.5k. $27.5k difference. Yes you still have to account for 210 miles a week with gas at $3.87 ntl avg gallon price, let’s say 25mpg is $32.50 or $1,625 for a year. So you’re at a $26k income increase. Of course there’s more math before that like taxes and other intangible benefits of working from home you need to think about and weigh like the one year delay on 401k contributions or match (can’t remember if the match is all that is delayed or if you can’t even contribute for the first year).

You will never really know though. Maybe your state job is cushy and low overhead on you so the salary is good for the balance. Maybe WF would be the same and ultimately better if you have overtime options. I know I’ve had plenty of situations where OT is literally hours of doing nothing while I’m out shopping.

I personally will never RTO if it’s enforced, I will force them to write me up then fire me for cause. I work hard when I do work and I enjoy my position but I spend plenty of hours lounging getting paid to do nothing.

If you are asking the question you should stay put. The job is off the table anyway. But moves should be based on is this job going to increase my skills and a resume builder and does the pay compensate me. If pay only stay put

You made the right choice.

Girl bye you lost me so quickly with all these numbers and mumbo jumbo. Is that what you’re going to recite on your deathbed at the end of your life. Go eat some more soy.

Peers at the same level no longer participate in the hiring process.

You made the right decision. If you’re not happy where you are you can keep looking for a new opportunity someplace where you won’t be treated like a disposable diaper.

Wells Fargo is the seventh circle of corporate he’ll and getting worse every day.

I'd say in the long run, you dodged a bullet!!

Absolutely. Stay where you are.

You passed the test. Stay where you are.

you made the right and only sane decision. pace is toxic. no amount of money will make your job here more palatable. state jobs are more reliable during recessions.

You are brilliant! I'm not kidding, don't second guess that decision. You may find a better job than you have now but WF is honestly not a good choice.

Sounds like you made the right decision. The 20 bonus is not 100 percent guarantee you would only see 80 to 90 percent of that 20 percent. 401k march is yearly. You did the right thing. Keep your sanity and work from home. Grass is not greener.

You made the right decision.

10% 401k match? That's amazing. Personally I would stay where you are.

13% more in base is not worth RTO 3 days a week imo