For first time ever no bonus this year. Reviews were meets requirements. No raise either. Starting to think as an older employee they are trying to give me an incentive to leave.
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It all depends on how strong of a branch you are on. There are so many branches from so many LOB at this big bank. CS is at the core with a chainsaw (and his army of chainsawers).
Is this over in Small Business? I have a friend who is a manager over there and she had to give some employees who got meets a 0% raise and reduction in bonus (I can't remember whether she said 10 or 20%). AS is the head execs name that pushed this through. New to the bank in 2024, surprise surprise. Not sure if Saul sanctions this or not, but it is a joke. Life is not the greatest over in Ops, but still have level bonuses.
I feel pretty bad for people that don’t understand Gen X’ers.
We are Warriors. We had nobody taking care of us. We were a latchkey kids!
We can do anything we put our mind to and that’s what I did when they try to push me out I learned coding as a f off, even though I’m not getting paid as a coder.
What are you trying to run on us Wells Fargo as we age,
serious question?
That’s weird. I got 44K coming
I got yours woohoo!!
The ugly truth is WFC pays better than the other Big 4 and there is a ton of pressure to move more inline. Typical bonus % for Sr Lead is 15% and Lead is 10% at other Banks; I know since I've gone through the interview process to offer at the Sr Lead level and have friends who are hiring managers confirm the other numbers.
Since bonuses are indexed to previous years, going forward those fat 25% and above bonuses will be flat at best, and reduced by bogus IM ratings (which come with a 20% at least bonus reduction). Grow up kiddies, Never-Never Land has been invaded by the Pirates and they're bringing very sharp swords.
Bonus eligible is not the same as bonus required. It is discretionary. That said, it's pretty unusual for someone with a Meets to have their bonus removed. Definitely worth a conversation with your manager and possibly 2 up or HR.
General guidance we received was bonuses were to be kept flat or decrease slightly. And as bad as everyone is complaining here, go check out BofA. They are now running years of constant bonus declines for meets performers.
BTW - has nothing to do with age unless your specific boss doesn't like older people. Zero guidance has been provided that managers should give less to older employees.
My mgr was lazy, told me since I joined there team after June that he went off the mid year review of inconsistent meets resulting in my year end being inconsistent meets. No bonus for me or merit increase. I’m fighting this with HR. Offer letter says bonus eligible
Resigning as soon as the funds hit the account.
@de+1jknn4yp3 - WAKE UP!!! WF Management is outdated and complete failure. They are still promoting old school thoughts, processes (like agile everywhere whether it make sense or not) and technologies.
I didn’t get a raise this year even though I got a meets rating and only received a $1k bonus just to shut me up.
Inevitable result on failed leadership. Also, your age is irrelevant. Shart wants you gone whether you're 25 or 65. Doesn't matter to him. Are you in India? No? Then you go. Just a matter of time. I'll take my severance whenever that failed exec wants to start writing checks.
By the way, you are not alone. JPM employees are disappointed by their bonuses. https://www.entrepreneur.com/business-news/jpmorgan-employees-disappointed-by-2024-bonus-checks-report/486073
Are banks investing more in AI than in their employees?
They want you gone. Your skills are outdated, and management knows it. They also know you’re stuck in their hamster wheel—trapped with nowhere to go.
They’ll keep removing rungs from the ladder. One day, you’ll reach for a step that’s no longer there, and down you’ll go. When that happens, they’ll sweep you out like the sawdust and waste collecting at the bottom of the cage—making room for the next su---r.
If you’re waiting for a bonus to make it worthwhile, stop. It’s not coming. The only thing left to decide is whether you leave on your terms or theirs.
@ba karma is a b.tch..you have your day coming. WTF works anywhere and doesn't need or want money? How dare you assume that all Legacy are no longer offering anything relevant. Wake up older agers are not working to make you miserable and carry the load. It is people like you who are the problem and why DEI needs to exist. Your parents did not raise you to have any respect? Shame on you! Dont assume Legacy are making most money. I am lowest paid in my role and have over 19 total yrs with WFC. I worked my a.. off and went to college FT while working FT. Yes, my education and combined 35 yrs experience in FS has always been progressive thinking. I am a boomer but not going away anytime soon! The only thing hurting me is being discriminated against and held back!
Be thankful that you've gotten bonuses thus far, many corporations done away with them years ago and in some cases they even got rid of raises and promotions are you interviewing for new positions.
The real question is why are you going above and beyond? Due to corporate leadership employee morale is at all time low, some suffer PTSD from the psychological abuse they take, and do not forget that the beloved CEO caused one of his executives to jump out of the top building in Delaware last year so while our CEO caused him to take his own life and his family is still mourning his death you not getting a bonus is not something you should really be upset about instead you should be humbled in the fact that you were able to get one thus far now this year what you should do is focus on what made Wells Fargo leadership view you as a disloyal employee and focus on your brown nosing put on that Maybelline lipstick and brown knows your Way to the top and at the end of 2025 maybe just maybe you'll get that bonus
@ba+1jknn4yp3 - it is a typical JPMC failure response who joined WF and ruining everything here. If you talk to them they will give this BS answer. They just play politics and back stabbing day-in and day-out.
"The fact that you would come on here and admit to people that you're only working at Wells Fargo for the money is clear sign that you are part of the problem..."
Holy sh-t! WTF is here for some moral calling or devotion to a cause? At Wells Fargo?!?
My bonus su-ked this year. No more above and beyond for me.
The fact that you would come on here and admit to people that you're only working at Wells Fargo for the money is clear sign that you are part of the problem that is Wells Fargo and you should have enough self-respective bow out and either work somewhere else and or retire.
If you grew up here at Wells Fargo then I hate to tell you but the ultimate fact is your skills that you supposedly claim to have here aren't transitional in other job areas mainly because Wells Fargo has a really good job of psychologically manipulating its employees to containerize their own skills so that they remain outdated in irrelevant.
It is legacy people like you that successfully built up the company during the Golden age when Wells Fargo merged with wachovia but being here now shows that you are trying to keep a hold of something that is no longer transitional.
No one here is your friend we're all coworkers who have a role to play via our position here at the bank and the fact that you just want to collect a paycheck and roll roll the clock out just shows that people like you need to leave so that someone else can come in and fulfill the position in hopes to make it better just like you did in your youth
This story doesn’t pass the smell test
If you hear horse hooves in the night, in most cases its a horse and not a zebra. Another words, your right to think they want you to leave. Sooner than later the algorithm that determines severed and employed will punch your number, especially if you are at 60 +/- years old and your pay scale is getting too far away from the mid point relative to younger, less paid co-workers with the same job classification….
It's BS without proof...
I don't think they want anyone with knowledge or experience that knows how things should work. They don't wany anyone to question the decisions that are being made. Interesting how some in decent positions that have the ba--s to question things are displaced shortly after. Pushing those with knowledge out saves them money.
OP, how old are you?
This is disturbing considering the job descriptions include bonus structure for people that are at meets or better.
Did double the work and same bonus....pushing back and will be unresponsive to their requests for more working moving forward.
That happened to a couple people I know and they were laid off last week.
OP.. no explaination?? What happened in previous yrs? What is your years of service? Were you lifted and shifted to new mgr? That really is bad news to hear someone got meets and zero bonus. Sounds like the goal is to lower comp.