I have received another job offer and accepted. I will be giving my 2 weeks notice soon, but was wondering if they tell me to leave the day I give notice, will they still pay me for the 2 weeks? I had a co-worker give 2 weeks and they told her to leave that day so I anticipate they will do the same with me but want to prepare for a gap in income should that happen.
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Yes, there is a notice period if you are in management. RSR award agreements spell that out clearly. Whether they make you work it or not is up to the manager. If you meet the 2 or 3 different versions of WF retirement, then you do keep RSRs into retirement. That is also spelled out in the award agreements. I am retiring this year, so I know of what I speak.
@1nqg+1sCVYRQx Is wrong. If you put in your notice there will not be 30 or 60 day pay and the RSEs go away (unless you qualify as retired and aren’t going to a competitor)
I, too, am wondering about all this as I have been interviewing for a job with another company (not banking) and should be getting an offer soon. My problem is that I am a Sr. Manager with some RSRs. I suspect they will tell me that my notice period is 60 days, otherwise I lose the RSRs. Hoping it will be non-working, but our team is so short-handed that I fear it will be all working or maybe 30 days working, which wouldn’t be too bad. The new employer is ok waiting 30 days, not sure about another 30. We shall see how this plays out.
I will also be giving my notice in the near future and have researched my options. First, figure out how much accrued PTO you have (Ideally, wait until the 1st of the month to get extra PTO). Second, send your direct manager an email/notice of resignation. Third, my notice period in the email will be the amount of accrued PTO remaining and tell your manager you will submit that remaining PTO for approval, with the date of email being your last day of work.
My primary reason for taking this route is two fold: 1. From my understanding, lump sum PTO payout is taxed at a higher federal tax rate, similar to bonus or overtime pay. 2. I don't want to work for WFC one more day than I have to. (Remember, senior leadership has put this on us, not the other way around. Loyalty is nothing to this company. They even steal and lie to our own customers, it never ends!)
Good luck to you!
Would they give YOU a two week notice…? There’s your answer.
There is no need to give any notice. If you are concerned they will remove you immediately, don't tell them until after your last day. If they really cared, they would have made you sign a contract that required it. They know what employment at will means.
They have to pay you once you've given notice. Put in in writing (brief resignation letter) and give/send to your mgr.
Just note, there may be a situation in the future where someone you left behind by not giving notice is in a position to make decisions on your employment. It doesn’t necessarily have to be your current direct boss. Leave in a good light when you can, it speaks to your character. If you want others to vouch for you, give them a reason to.
@mmg+1sCVYRQx - Spot on.
Leave amicably. For personal reasons. Don't update your role for the first 6 months. Small industries, lots of retaliation - specific to this firm.
Walk away quietly and carefully. Congratulations.
Sounds like they knew what they were doing. 30 days paid for not working? Like a boss.
Definitely don’t tell them why you are leaving or where you are going, none of their business. My old boss was an Exec. Dir. and he had a 60-day notice. They made him work 30 days, not sure why. Guess it was workload.
We just lost a person on our team who after 20 years decided to leave. Not sure why, as I didn’t really know her. She gave 2 weeks notice and our Director made her work it. We were down a few employees on the team she was on, so I suspect that had something to do with it.
If you put in a 4 week notice and say you're going to a competitor, will you get paid for 4 weeks to go away? 😂
There is no reason to tell them where you're going - tell them you just need to leave for personal reasons.
LOB and role dependant, but in all scenarios I know of, if you put in your notice and they tell you it's non-working then you'll get paid until the final day of work you declare in your letter of resignation.
Folks that leave are many times considered traders so most likely they will suspend your access and allow you to leave same day as notice. You will get paid just the same as if you were working. It seems management is very concerned with controlling the narrative at WF and fear people gaining a greater understanding of how bad things are.
Get your ducks in a row! Read your employee handbook to understand what to expect. Pls know you will not be paid for sick time, but yes for vacation. Will your team need KTs on how to cover your responsibilities? If yes, they'd benefit from some walk-through sessions with written instructions including lessons learned. Depending on the nature of you're work and if you're going to a competitor you might be released immediately. Congratulations on writing your next chapter!!!
It depends on the new job. If it is a competitor or creates a conflict of interest, you will be let go immediately.
They'll most likey still pay you.