It’s time for these to start circulating! I moved to a LBEC in January
$115K base
What should I expect? With targets gone there were zero estimates from recruiting.
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My base salary is 135k and the last 3 years my bonus was 20k. Base pay has gone up by only 2% each year
Zero
My bonus has been the exact same dollar amount for the last 3 years even though my salary has increased. Therefore, my bonus has been decreasing every year as a percentage of my salary and inflation.
There are articles in HR Service Center about Total Variable Compensation (TVC). TVC has been in place now for several years, so I'm surprised people are not yet used to how it works. Your bonus is based on your prior year's bonus with adjustments for the bonus budget, your performance, as well as whether or not you changed positions during the year. For example, let's say that you received $20k last year as a BEC and an "exceeds" performance rating. So then you got promoted to a LBEC. So if let's say everything stays exactly the same except for the promotion (budget stayed the same and so did your performance rating). You may expect around a 10% or so increase in year-over-year bonus due to the promotion (so approx. $22,000). Let's say budget stays the same, but your performance rating is now a "meets" and you received the promotion. Your bonus this year will likely be VERY similar to your last year's bonus because your performance rating went down, so you can expect an approximate 10% shift downward. The thing is, you'll never really know about budget, so all of this is hypothetical but you will NOT jump a large amount (probably no more than 20% of last year's bonus max) unless budget goes up SIGNIFICANTLY and let's face it, that's not going to happen.
I would say same as last year if not less.
The way to go is to work as a premier banker in a branch. Forget annual bonuses - we just got an amazing comp plan adjustment where we get massive quarterly bonuses. 20k every quarter is very doable.
What you got last year
I make 100k and never received more than 13k
15-20k
Rumors starting to creep up that bonuses are going to be rough this go around. Despite still bringing in $20B in net income
$115 is high. I make $100.
It really depends on LOB and department - but Glassdoor is a good place to start off.
https://www.glassdoor.com/Salary/Wells-Fargo-Lead-Business-Consultant-Salaries-E8876_D_KO12,36.htm
10-15k