I heard that for the first few years bonuses are capped at a certain level at Wells Fargo. Is that true? How does that compare to other firms?
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They may be "uncapped", but no one is going to give an analyst a million dollar bonus.
What does a "bonus cap" mean? Isn't every bonus at every firm "capped" to a certain point?
I guess more in the sense it’s lower than at other firms.
No, bonuses are more or less the same across the street. Generally EBs pay higher, while BBs and MMs will pay less. You will find that the bonus at WF will be similar to other BBs and MM firms, maybe even higher considering cost of living in Charlotte.
In my offer, bonus potential is written out as Discretionary and uncapped. Does this mean I will be given a bonus above the average? Probably not and definitely not significantly above the average.
The best example I can think of is Unlimited Vacation. You may have unlimited vacation as a policy, but you cannot take it.
WF IB here, got 50k this year. mid bucket - 1st year ANL.
How many Buckets?
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