I wouldn’t even consider it in this day and age. You uproot everyone and everything only to risk losing the job the following Tuesday. Relocation is incredibly expensive now, even with the funds they provide. There are so many hidden costs that quickly become overwhelming, while your job is under more constant threat than ever before.
20 replies (most recent on top)
@zn I was curious about that as well. What is the problem with Charlotte?
I declined it
@af I have 4 offices within a reasonable commute but was laid off for RTO. I was with Wells for 9 years, always remote, but when I asked about going to one of the 4 offices (this included NYC) I was told that was not an option. I enjoyed Wells Fargo and now deciding between retirement or one more run for 3 - 5 years. Need to do something to keep busy and have never been a big hobby person. I need a problem to solve so the question is do I work on a new role or fight for a return.
@pa why a avoid charlotte? worst i have heard is that it's boring and not great for walkability.
I'd consider relocating to a financial hub (not a WF hub) for the potential to leave for a real Bank as soon as possible.
Relocation should always be considered. That said, relocating right now for Wells is not something I would do.
@OP Most of those who are relocating don't have much to lose, like they don't own homes, they're single and/or don't have children. Otherwise it's too much to risk for a company who can easily lay you off the minute you hang your hat.
Its a bad deal for most people. The average level two plan is $8k of expenses and $15k of relocation costs - and not all expenses qualify. If you already want to move, then great - if you have a mortgage in the past 10 years, it is a bad, bad deal.
I am in CLT but oh my god I would not relocate to this place. If you know anything about it you might wish to avoid it like the plague.
It's an individual decision based on your individual circumstances and goals. For me, even if I get laid off after moving I'm in a much better job market. I have no path anywhere near my current salary in my current location and will not risk my retirement plans by finding myself unemployed or significantly underemployed after severance. No family or ties to my current location and I've relocated before and know what I'm doing. I know the city I chose. You do you and don't let anyone else tell you how to do you. Every option has risks and my choices have nothing to do with trust or loyalty.
Wells Fargo hasn't shown the long term loyalty to employees required to make me consider relocating for even a minute
I'm relocating, but I've been with WFC for some time, have the good PTO etc. New location is within a days drive or a short flight back to my home area. Also I don't have a mortgage so no loss there. I really don't want to do the job hunt thing right now, so just rolling with this. I'd rather stay with the devil I know for now.
no sh_t!
you should only relocate if it is putting you in a same or better job market for you and/or your partner/spouse (if applicable)... or some other life circumstances are such that it's the least risky move for you. don't relocate just for the job itself.
I’d take the relo funds and use them for transportation to and from the city until I found something else.
Our group was told we can relocate if there is a position available in one of the hubs but we have to apply for it along with everyone else. Relocation expenses are 100% on us if we do accept a position.
They only offer it because they know few will accept. It's PR. "We really tried to retain as many employees as possible, but golly gee willickers, they didn't accept our relo offer..."
That's all this is.
Wife & I have discussed it. Our mortgage is the biggest issue. Locked in @ 3.1 the current rates essentially add almost a grand to our payment.
It’s only worth it if you are moving into a better job market. Maybe Dallas. Maybe NYC if you’re into that lifestyle. But the rest of the cities su-k.
Have a friend who is relocating, but their spouse is getting promoted and they are moving to the home city of his company.
Very risky, otherwise.