I'm in minneapolis and the pay range recently changed. An example for a P3 in risk is the minimum used to be $84K, but now has increased to $96K. If a person is below the minimum, will HR increase the their wage to match, or will WF sc--w that person over?
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This happened to me long ago at a different corporation. "You have so much room for growth!" was the lie at the time.
I didn't wait around to find out. I was gone in a couple months, no notice given.
I thought I was free of this bullsh-t...
You are worth less today than the new person they'd bring in if you left. Keep that in mind as you calibrate your future work efforts.
Ha! We just get lied to. They tell us the pay range listed in new postings is wrong
being in little Mogadishu is not worth it. minnesota is lost.
No those below will not be adjusted outside of EOY review. They did this adjustment to be more aligned with peers, i’d assume JP and to flatten the amount of job class codes from numbers to letters. They know people are way below, as a risk 5 went from min 144 to 185. They will not be giving out the diff of 41k to employees. HR mentioned those flagged with adjustments were already identified. I assume those individuals are more than 80% below, for the rest of us we are trapped at whatever our pay is.
They rolled this out to managers earlier this year and said no mid-year adjustments for anyone over the max or under the min.
You will likely get an equity adjustment to put you at the bottom pay during some review they do in HR. Any new hires at peer level will come in near midpoint though. Manager will likely frame your equity market adjustment as your raise at year end which gives them more money to give someone else on the team.
I've had that happen to me before. Granted this was about 10 years ago. I was bumped up to the new minimum immediately.
I actually think they will get you in range , but I my during the performance review cycle. They don't do off cycles anymore.
More curious on where you found the new pay bands? Usually, I have to find an open req with my job title.
there absolutely are adjustments done for circumstances like that, usually at comp time.
their is verbiage available to view that indicates they should adjust, especially if you are below the min, although it may not happen until performance review time.
It’s hilarious you think they might give you an increase to be in the new range, that is not the Wells Fargo Way You will continue to get your 1-3% merit increases.
Hahahahahahaha you think they will adjust you.