No pay raise at WF?
Seems like almost every bank has increased base except for WF, GS, and MS. For those that work there, do you think Charlie Scharf will announce something during the town hall tomorrow?
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They bought themselves some time with the one time bonuses. Other banks raised $25k for associates which will effectively be paid out over a year, so WFS is net positive to the others right now given Wells paid that to associates over a few months.
I would think they need to raise at some point
I don't think they will. Remember they didn't give out WFH meal stipends and are notoriously stingy. Not really sure how they expect to grow the platform if they won't even pay street.
My bank pays juniors below street. International balance sheet bank. Here is how this works:
You poach rainmakers who get deals from other places, paying big $. Then you underpay juniors to work on grunt work. After 1-2 years, juniors leave, you replace them.
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