Mortgage Professional America forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Big bank employee to CEO: Everyone here needs a raise

Notify me of new replies via email
Mortgage Professional America | 09 Oct 2014, 06:19 AM Agree 0
An employee at one of the nation's largest lenders sent an email to the CEO -- and about 200,000 others -- requesting a $10,000 raise for every employee
  • | | 09 Oct 2014, 07:14 AM Agree 0
    You gotta applaud this guy for asking the CEO of Wells Fargo for a raise for himself and his 23,000+ associates. However, Mr. Oates needs to remember that IS the "trickle down economy" where the money stays at the top while the underlings get the drops or put it another way the crumbs!
  • | | 09 Oct 2014, 07:25 AM Agree 0
    $15 dollars per hour is not enough on which to raise a family. A $2 raise in seven years is awful. He is falling behind the cost of living.
  • cheryl m | | 09 Oct 2014, 07:38 AM Agree 1
    WOW. Maybe we can get the CFPB, the Finance Oversight Committee and DOJ involved so we can resolve this matter, and they say no bank is too big. Where's the moral compass, all bets in this guy gets fired. Can't wait to read the headlines next: "CEO fires employee for asking for a well deserved raise."
  • Bruce | | 09 Oct 2014, 08:08 AM Agree 1
    I agree with Cheryl, they will now find some way to push this guy out since his request went public.
  • JP | | 09 Oct 2014, 08:20 AM Agree 1
    If the employees want to share in the fruits of their labor, they should buy stock in the company. If the bank increases its overhead expense $2.6 billion per year, the CEO should be fired.
  • Joe | | 09 Oct 2014, 09:56 AM Agree 1
    If people don't agree with the way big companies run their business, including compensation to their employees, they should stop doing business with those companies instead of complaining about it. How many people will sit and complain about an unfair situation while paying a mortgage to Wells, holding a Wells credit card or maintaining deposits with Wells Fargo? If you do not agree with the policies of a company, don't do business with them. If everyone choses who to do business with in this manner it will have a much larger potential impact than if everyone simply complains about it.
  • quick math... | | 09 Oct 2014, 10:27 AM Agree 1
    That's a quick 2 billion INCREASE in overhead which sounds like a good idea to no bank or company in the history of banks or company's. Stockholders would revolt. Wells will point to the millions they give to charity, the low income lending they do, the lending they do to start up company's and businesses and say THAT'S how they invest in the community.
    BUT, regardless of al that, what happens next year, when the same thing happens? or when the Manager of the 10,000 guy says to himself, "self, If Tyrel gets a raise of 10,000, I definitely deserve at least 15,000." and then Tyrel boss's boss wants 25,000, so on and so forth.Never going to happen. Good luck Tyrel.

    PS sending an email to the CEO from the mail room or is a REALLY dumb idea

    looks like Tyrel should stick to the occasional DJ gig.
    https://www.facebook.com/tyrel.oates
  • really? | | 09 Oct 2014, 10:40 AM Agree 1
    If you read the original email (not the doctored versions floating around) you will see why this guy makes $15.00 / hour. His grammar might reach the 6th grade level.
  • Raisin Cane | | 09 Oct 2014, 03:07 PM Agree 1
    There are plenty of people at Wells Fargo making a lot more than $15.00 per hour. There is a reason this guy isn't making a lot more, and it's probably his lack of production and/or job skills.
  • | | 09 Oct 2014, 05:19 PM Agree 1
    How did he get access to all of the email addresses?
  • Dominick F Sammarone | | 09 Oct 2014, 07:26 PM Agree 0
    This email infuriates me! I'm dealing with families begging for a mortgage modification so not to cause a divorce or disrupt the kids while attending school.

    Thank God for tax payer-backed government bailouts at 0% interest with no democratic vote from the American people!

    Unfortunately, those bailouts are for "friends of the government" only. The american people just don't have those types of friends. My foreclosure clients sure could use a government bailout right about now AND the $10,000 raise. Most of my clients (not all) are suffering due to the economic/banking collapse caused by some bad mortgages made by the very same banks. Most of the people I am working with are not looking for a raise, a handout, a lower rate or a principal reduction. All they want is a second chance at making payments now that they are back to work!

    I have been a mortgage banker since 1984. I have had these kinds of mailroom workers work for me by the thousands. I get the email and because of where it came from. What upsets me is that people at that dummy bank are feeling the "profit electricity" during a time when people are struggling for their lives. I'm a libertarian/capitalist but not at the expense of hard working middle class America who is now caught up in this economic whirlwind.

    Not a good time to ask a bank (with record profits…) for a raise.
    GET YOUR MONEY OUT OF THE BANK! GET TO A CREDIT UNION! TOO BIG TO JAIL DOESNT WORK FOR ME.
  • Dominick Sammarone | | 09 Oct 2014, 07:28 PM Agree 0
    AMEN!
  • Griff | | 10 Oct 2014, 06:34 AM Agree 0
    JP, how much stock can one buy making $15/hour after they buy the bread and TP? What folks don't understand is regardless of one's grammar the cost of living is ridiculous these days and I mean the REAL cost of living, not what the government calculates after they take out food and oil. Real money is what we are paying for food. If nothing else this guy made news of the wealth banks are holding onto for their ceo's and yes, their first priority is stockholders. Put your money in your mattress.
  • Lynn. Allen | | 10 Nov 2014, 07:56 PM Agree 0
    God bless this guy and his family! At least he didn't get fired and he received his raise!! Regardless of his education or grammar which as you see that didn't stop what he was asking for. No one really gets paid what for what they are really worth soooooo if your not self employed or not CEO than your under paid as well. So grow balls and ask for your fair raise!!
Post a reply