Charlie has accomplished the impossible. He’s created such a toxic atmosphere, filled with constant fear of layoffs, that people aren’t even looking for higher or equal pay when they leave. They’re content with anything, even significantly lower pay, just to escape. Well done, Charlie. Mission accomplished, I guess.
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If you come from outside, yes, WF pays on the higher side compared to its peers. Problem is the people who park themselves here for decades don’t have leverage to command more money being an internal hire. I know—I overstayed at a competitor knowing I was underpaid and the only way to increase comp was to leave. That’s not a WF issue, that’s anywhere. That’s when I learned to jump every 4-5 yrs. HR isn’t going to green light a significant increase for internal hires. They don’t have to once you’re in.
@1qll+1vLbIIgV. “WF pays on the high end of the scale”
Is that what they told you? Hilarious.
There are other factors besides money. Maybe you take a 15% pay cut, but have less stress, are able to work remote (or have a closer commute to the office), and are actually treated fairly at review time at the new company. Pay is better at Wells than other places, but you are just a ticking time bo-b to eventually get laid off when you make good money.
As someone who once left a company for lower pay but better conditions in the past and was recently let go by WFC, the reduction in stress is better than the money. Life isn't about "number go up" anyway.
Obviously nobody wants to take a massive pay cut, but if you're only talking 10% or even 20%, but if your quality of life goes up by an immeasurable amount, then it's worth it. Thank God that there's companies that are no where near as bad as what CS has made WFC.
@OP fails to acknowledge that WF pays on the high end of the scale so leaving for less is to be expected regardless of the catalyst for doing so, especially in this current employment market.
But you fight that good fight sister. Your boots were made for walking so don’t let anyone take your shine.
I took a lower paying job at one point. Best decision I ever made. As long as minimal needs are met, there’s more to life than money.
Nobody wants to work in a sh1thole