Raise +1%
Bonus .92% of Target
Tech
Thoughts; Inflation this last year was at least 10% more like 15% so i'm taking a huge 9% to 14 pay cut. I will be looking for new job at another bank or financial. Bing Ling didn't come through and Charlie is a sh-t CEO who gets 20%+ increases, doesn't delivery for employees, stockholders, and all the while his troops eat sh-t. To top it off I saw B of A was even awarding stock options to all their employees, I don't see that here.
Bonus: 35%
Merit: 5%
Rating: Meets
Title: sr lead
Bonus: 30.7 of base
Merit: 6.5%
Rating: exceeds
Title: Lead Business Execution consultant
Meets
Merit - 3.75%
Bonus - 10%
Thoughts: More than I expected. In 20 years have never seen more than 2% merit which we understood to be the max. Was planning to retire as soon as the bonus check hits my account, but now staying one more month after it was pointed out that March has 3 paydays. Then I'm gone!
Exceeds Rating
Merit - 8% increase
Bonus - 20% of base
Was promoted from P2 to P3
Thoughts: was expecting meets rating, 3% merit increase and 10% bonus. Totally surprised and shocked.
Increase - 12%
Bonus - 11%
Org- middle market banking analyst
Ops
Senior lead
Meets, 1.5%, 15% bonus
3% merit
80/20 cash stock split
Bonus: 20% of base
Merit: 5%
Rating: exceeds
RTO: nope
Title: Lead Business Execution consultant
Department: Global Treasury management
Thoughts: truly was expecting a lot less. Pleasantly surprised and very grateful that I have a manager who (obviously) values my work enough to fight for good compensation.
Sr. Lead -- meets. 2.5 raise and 12.5% bonus.
Less than 2%, 13% of base
Tech, 7% Merit, 11% of base for bonus which came out higher than last year.
BofA and JP pay out less bonuses, go ahead and find out for yourself, grass not always greener
I got a little bit more than 2% merit, but was promoted last year. Since they could’ve given me 0 due to said promotion I’ll take that, especially since inflation has been more or less a net 0 since the month my promotion occurred.
Bonus was about 85% of what my post-promotion target is, but if you calculate the average target for calendar year pre/post promotion it’s like 112% of that.
All in all I’m pretty happy with that. I’m also on a team performing a function that is necessary regardless of the bank’s performance, and we just hired a handful of people over the last couple months so I doubt layoffs are on the way for us.
CPI increased 6.5% from December 2021 to December 2022, so I don’t know where you’re getting that 10-15% range from. Maybe your personal expenses are up that much but that’s different than national inflation.
CIB, revenue producing, good review
Bonus: 25% of base (drop from last year)
No raise
Apparently the real money is in HR, risk, or just anything ops. Less hours and apparently you get as much or maybe more total pay. Per hour it’s definitely more.
Time to think about moving on.
@yeg. The Chase method which consists of diverting all bonus upward and the peons get nada.
Bonus $5000 less than last year
3% merit. Bonus 10% of base salary. In tech. Biggest merit increase I've seen in 18 years of employment here.
I still plan on leaving, but now I'm wondering if I should give a 2 weeks notice? I was just going to ghost them.
They removed the target guidelines so they can really stick it to the employees. For example, my title previously had a 40% target bonus in the old days, but I ended up with 23%.
Targets most definitely exist, it is not published. -HR
3% raise
10% merit and bonus was $1,000 more then last year.
2% increase, 11% bonus. Used to be reported as a % of target, no more.
I'm in the mortgage group, REVs - Real Estate Valuation services.
Was hoping for that 9AM layoff call.
Clown hall shitshow, more of the same, I'm shocked....
There used to be published targets by job family and level. They no longer exist. It’s subjectively performance based. Get your chapstick out and start performing!
There aren’t any written targets we can see. When I was hired to a new team mid year, the recruiter told me my target was 12%. But that’s not written anywhere I could see or reference to get an idea of where I fell I terms of performance and compensation. Just a figure I was given with no substance. I understand it’s not a flat number and a target, I’ve been here long enough to know how it works as well. But being able to calculate what percentage of target we get, is helpful IMO.
Where are you all seeing a percentage of your targets for bonus?
@tfy+1kSVSAxF no you will not see it anywhere. I tried to screenshot it when the recruiter told me and it was not included in my offer letter. I think it is a bit disingenuous for that not to be viewable by you. I even reached out to HR NOPE not going to see it. I believe that is why they call it Variable. It can very and you many or may not get that amount unfortunately.
They are not specifically contracting with this board. That’s not how paid media works. It has to do with your cookies and it serves up the ads related to your overall internet activity.
3% merit
Appears I got the maximum bonus for my role which came in at roughly 10% of salary.
I can't complain, I know others on my team got screwed when I got the biggest merit increase of my career last year, so I expected to eat it this year. The bonus couldn't come at a better time, though. I'm relatively happy with what I got.
OP is a shitshow. There aren’t even targets anymore but regardless, .92% of target, you might as well say 30 drams of voles blood. It’s a completely arbitrary valuation and means nothing. Listing the bonus $ amount or as a percentage of your base is a far better reference.
Management knows layoffs are happening everywhere. People who would never have considered WF in the past are going to be a lot less picky. So why give raises? Talent retention? Excuse me while I LMAO.
BTW am I the only one who sees a recruitment ad for WF every time they log on here? That’s paid media. Wells is ACTIVELY recruiting on a layoff board. Tell you anything?
Move to Iowa, City Boy!
Thoughts: The period of great hiring activity is coming to an end as an impending recession looms. For those who kept talking about leaving for greener pastures but never did, you procrastinated too long. For those who are happy with how things are going, you've made senior management happy that you've stuck around until they're ready to displace you. For those who are new to WF, you took a gamble coming here for higher pay and running the risk of getting displaced at some point as well. Hope it was worth it.
Are there even actual targets any longer? I’ve been looking all day. I was told when I was hired last year by recruiter, but where’s that documented? It’s not on jobs or offer letter or anywhere I could find on the sites.