WF raises base?
Did wells raise their base to 110 or something else? Saw a comment on here saying they did it yesterday
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Bump
I’m an incoming S&T analyst and have heard that base is getting raised to 110 for first years. Not officially from HR yet.
Yes 110/125/135 across IB, effective July 1
I sure hope corporate banking is included as well. Morale is lower than ever, due to their snub the first time around, and everybody's pissed!
In case anybody's wondering, every single BB & MM corporate banking group (even those not housed within CIB [e.g. JPM]) received salary raises to match investment banking pay with exception of Wells Fargo. They've already lost a number of heavy hitting senior folk, and their juniors are all headed towards the door. If this keeps up, all that will remain of Wells CB will be a flaming pile of sh*t!
It's honestly pathetic. I cannot understand how Charlie expects to grow as a reputable investment bank, while coming off as super cheap, and treating employees (did I mention PR?) like absolute garbage.
No jokes, this penny pinching will burn down everything he's created. Smh.
Does that apply to Citi? I don’t think they did that.
As an ex-employee of Wells, I will say that their corporate banking team is slacking. They don't work that hard therefore bonus target was ~20% when I was there. The work they do is much more like commercial banking at other banks, just because they're housed under IB doesn't mean they do a lot of work. Anyways, just saying that they could probably get away with paying that type of comp because they are essentially competing with commercial banks for talent. Nevertheless, it's a great stepping stone for IB, Wells have probably the best internal mobility.
Can you please confirm if this raise only applies to IB or it is across CIB?
Source? I started at Wells a month ago, and I have not heard anything like this. Is this just for the NYC office? The base salary should be uniform across all major office locations, right?
Well, I work in IB at Wells Fargo, and nothing has changed. My base salary as a second year is still 105
do you happen to know what percentage of that base is for bonus?
Anyone have detail if raises reached CB?
I wonder if the entire CIB division is getting a raise or just IB
Wondering the same thing here?
CB at 100 for analyst 1 now, nothing for associates which is crazy since they haven’t seen anything
Lol at associates not getting anything. If that isn't a sign to jump ship then I don't know what is. Analyst pay is now 100k, 105k, and 110k and isn't going into effect until July. Even with this news CB analysts are still pissed that Wells refuses to raise us to IB base.
Shouldn’t the IB base be a bit higher than CB? Or is there usually only a big difference in bonuses
If they're really doing 110 125 135 that's pretty insane tbh as it's a 15k jump from year 1 to 2. IB is def getting a decent raise tm if all this is true. I thought there was always a 10k difference or 5k between A1 A2 A3. So wouldn't it be 110 120 130?
If CB base will continue be lower than IB after the raise, then yeah Wells Fargo doesn’t show appreciation about people in CB! I also doubt they will match salary base at all!
Can confirm. I received an email about the salary change and the zoom meeting is tomorrow morning. I'm an incoming CB analyst.
Can you please tell us if the email specified the new salary for CB analysts?
Sorry. Salary not specified. Zoom is 9:15 EST tomorrow.
Will this change incoming SA comp?
Is that how this usually works? I’m an incoming SA and if they bumped our hourly even more that would be nuts
seriously the comp we are getting seems great already
SA comp is increased to $53/hr and overtime $79.5/hr. This announcement was just made 6/13/22.
My offer which i got and accepted in April had these numbers too.
I think they just bumped SA comp. Got an email today saying that they’re increasing the hourly rate and it’ll be reflected in a future updated offer letter in spring (incoming 2023 SA here).
Anyone know if this applies to CRE analysts?
Have all notable banks now raised to 110/125 for AN1/2?
rip hl
they will probably bump with return offers
RBC smfh
they lacking foresure
Anyone think RBC follows behind with base raise as they are only notable left at 100 still?
I feel like they kind of have to at this point - Aren't they the last of kind of the big players to not?
Did these raises get officially announced yet and did they include capital markets group?
Did the call at 3 even happen?? What did they say about IB analyst salary
Bump haven’t seen anything
Bump haven’t seen anything
What are the best groups at wells?
Lots of threads have answered this before but for IB the only notable groups are REGAL, industrials, and FIG maybe(not sure about fig tbh). REGAL does very well comparatively and pays extremely well as well. Analysts usually exit to great PE shops in two years if they want. Industrials is also very strong in terms of PE exits. Lev fin also is decent because of wells balance sheet but they don’t do any modeling.
Yeah REGAL is definitely crazy gotta be the top group at wells. Not too many high performing groups there though…
Any insight as to how healthcare is? Have been trying to find some info online but haven’t found much on healthcare specifically.
No Energy? Read on other threads that their team is strong but doesn't do much M&A
After the recent increase in base pay last month what is the new base for 1st year, 2nd year, 3rd year analyst and associate?
Any insights here?
https://www.wallstreetoasis.com/forum/investment-banking/2022-consolida…
SA hourly rate increased from 40 an hour to 53 an hour🎉👊🏻
Saw that, does this mean no OT then? Bc I know before it was 40 base then 60 OT.
Still paid hourly so anything above 40 hours is time and 1/2 so about 80.
It’s now July 1, and no salary raise!!
I’m pretty sure the new hourly bump starts july 4th
Umm…I am not an hourly employee
Pay now went from $40hr -> $53hr plus 1.5x overtime
Anyone know what the Wells Corporate Banking Associate & VP pay progression looks like (Salary & Bonus)?
CB 2023 SA only went from 40 to 48 tho
Still tho 48 an hour for CB I ain’t complaining
Goldman IB SA still getting paid 85k prorated
Incoming S&T intern making $53 hourly. That’s right around $110,000 prorated. Not sure how much OT I’ll get.
Corporate Banking Analyst salaries did in fact go up to 100 / 105 / 110
anything for associates?
they haven't gotten anything
unfortunately no bumps for associates at the moment
any idea about bonuses?
Any idea what the bonus structure is like for a first year CB analyst?
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