So I am expecting a raise in salary. Is it possible to get 5%+ increase in salary because of the high inflation this year?
Why or why not?
31 replies (most recent on top)
You do know what the word "most" means, right? More than half the company is not getting 6% raises. Stop trolling.
Post ID: @ajz+1e6CLGBq
Hilarious :-). We have no cloud expertise to lose. We are the bank that is 20 to 40 years behind the rest of the sector. In cloud we are about 15 years behind, and that’s only because it can be built out rather quickly. We are 20 years behind he other banks as far as starting to delve into it. Most banks are tuning their Dev Ops and testing data center cloud failover. We’re nowhere that out side of failing our attempts at it.
They have a pool for raises this year. Most workers will get 6% but they may give some 10% and others 2%. If your raise is 2% that is what happened.
If there's a maxim in life, it's this: never trust FRB inflation stats. I'm not sure how many times my COL has doubled while the FRB was saying that inflation was 1-2%, but it's enough to know that their calcs are rigged to under report.
Bwahahahaha you must be new here. Good luck!
Tech is impacted on this one.
Lolllll. Umm are you new to working at WF or something
If you’re rated a 4 or 5, maybe
Everyone meeting expectations will likely be 2% or less
Not sure I appreciate being called a liar, but glad to know not everyone is experiencing the same daily hurdles that I am.
The reason Adobe is still making people sign in is because Wells didn't re-up the user license.
Also, regarding training ... If you're talking about standard industry regulation training, yes, they're all over that... If you're talking about training to understand loans, that's an opinion I seriously have to disagree with.
Regarding the smaller computers... I had a much larger one that worked so much better than the small one I have now. However, again, I'm so happy your experience in this area doesn't mirror mine.
OP thinks people get inflation raises. At a corporation.
OP works for Wells Fargo.
Q - What can we learn from this?
A - Do not bank at Wells Fargo.
No, but you can go get overpaid making $15-$17 an hour flippin some burgs. Best way I have seen to get pay increase banking is to jump around to different institutions, but the grass isn't always greener...in fact no matter the grass there is always dog doo on it.
@kpa+1e6CLGBq
Two pieces. You have to be a member of a IDAAS group for adobe and receive a SDS package first. Then you apply the license update, and it works.
"Adobe license changes are Adobe's fault, and the license is renewed but turned into an Enterprise license situation."
Now that you've brought this up, what the EFF is going on with Acrobat? Even after applying the update, we're still being prompted to sign in to Adobe.
If you look at the 10 inflation rate, it's close enough to what we get as a raise and I'm pretty sure that's what they look at.
United States - 10-Year Breakeven Inflation Rate was 2.61% in November of 2021, according to the United States Federal Reserve. Historically, United States - 10-Year Breakeven Inflation Rate reached a record high of 2.76 in May of 2004 and a record low of 0.04 in November of 2008.
No, it is not.
Why? Because that’s not the WF way. You will receive the usual 1-2% increase (read: slap in the face) and be expected to be appreciative.
Sadly, I laughed at this post.
The OP must either be a novice, naive or both
Unfortunately, raises haven’t kept up with inflation since the 80s.
Yes, there was a time when they did that, but it was long past as corporate greed became prevalent in the god old US of A and “greed is good” became their mantra.
Even social security recipients are getting a 5.9% increase.
@kso+1e6CLGBq
Downvoted for the truth...sad to see.
There is loads of training out there. Between our tech college and DY there is a pile.
Adobe license changes are Adobe's fault, and the license is renewed but turned into an Enterprise license situation.
As for the tiny computers they have similar hardware to the larger desktops and the laptops. There isn't anything different in the hardware being used.
I think it's special that someone thinks there may be a raise involved for the loyal employees at Wells. Especially since they've been cutting corners on training (non-existent), software (not renewing the user license with
Adobe), and hardware (the tiny computers run so slow I sometimes forget what I'm waiting on), and a whole slew of other things that make it impossible to meet productivity.
In addition to the cuts mentioned above, Wells is too busy adding more layers of leadership positions (huge salary jobs), to trickle down profits to the people who make the company run. Then there's their commitment to paying new people more to start than some people have made after years of being at Wells. Honestly, I think that's the most demoralizing part of working at Wells right now.
Who knows what the latest restructuring is going to hold for those of us who've been with Wells for a long time. Nothing happens in a vacuume, and I sense this is going to lead to some of us losing in the end. Losing the potential to move up, the ability to be rewarded with meaningful raises, and, in some cases, our jobs.
I would love to be optimistic, but I know better. At Wells it's best to prepare for the worst, and be pleasantly surprised if it doesn't happen, then to expect the best, and be woefully depressed in the end.
Sincerely,
A Lifer
The firm does not give cost of living raises. Never has. They give merit increases that have been capped at 2% for years as firm policy. Despite what has been said do not expect a big raise due to job reclassification. Rumor from managers is that bonuses will be funded at 90% of last years number so they may be less this year. Remember we are still cutting costs
no way for the senior tech roles. However, they have to know they will lose all their cloud tech expertise if they don't generously reward them.
Perhaps submit a loudspeaker request and request salaries keep up with inflation. Executive leadership wants your feedback to make this a better place for its employees, they even said it on a town hall.
The new job family update is the variable that could make things interesting IMO. 5% though?? Idk….I think that is a stretch.
I don't know the last time I got more than 3%, and that was a rarity.
🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣
Zero chance. Wells Fargo is trying to force as many people out the door without paying severance. Why would they attempt to make staying more attractive by padding raises to account for cost of living and inflation? They ultimately care about the bottom line, executive compensation, and shareholder dividend payouts. The comfort and financial health and well-being of their human capital is of little consequence. Combined with impending RTO, Wells Fargo is banking on the discomfort of it’s employees to balance the books, not add more costs to it. Raises? Where do you work?
Not likely. 1-2% at most.
Anything is possible, but its not likely.