There are newer employer reviews for Wachovia

2 people found this helpful

Great company, but bad time to shift career into sales job with a low salary..commissions are being cut left and right

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Career Opportunities
Current Employee - Licensed Financial Specialist in Tampa, FL
Current Employee - Licensed Financial Specialist in Tampa, FL

I have been working at Wachovia

Pros

Compentation for performance is higher than most banks at the personal banker level. Also, the financial center manager is not your direct supervisor. Also, you have room to specialize in small business, investments, leadership, consumer loans, etc.

Cons

Constant slashing of incentive pay, decrease of incentive based on overall branch service scores despite personal performance, decrease of incentive based on "book of business" decline. Combined, these two reductions can be as much as a 40% overal decrease in your incentive for the month. Now, Wachovia has priced themselves out of the loan market due to their purchase of Golden West

Advice to ManagementAdvice

None

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  1. Merger disaster

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Team Lead in Saint Louis, MO
    Current Employee - Team Lead in Saint Louis, MO

    I have been working at Wachovia

    Pros

    Good pay. Close to home. Good people to work with. A lot of knowledge at the associate level.

    Cons

    A G Edwards bought out May 07 by Wachovia Securities. Merger has been a disaster at best. Management is being changed weekly. No manager seems to know what to do or how to organize. No communication from management to the associate level. Mid level management is over woked, sometimes have up to 30 people to manage. No one is sure of their jobs from 1 week to the next. So much is bad, don't know where to begin.

    Advice to ManagementAdvice

    More mid level management with knowledge of how to manage is needed. Communication and input of issues by those doing jobs is needed. Senor management needs to be confident and innovative to give people confidience.

    Doesn't Recommend
  2. 2 people found this helpful

    Management Training Vaccume

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Field Sales in Oakland, CA
    Former Employee - Field Sales in Oakland, CA

    I worked at Wachovia

    Pros

    Brand awareness, Nationwide company, Good reputation with Customers.

    Cons

    The "senior managers" acquired by virtue of the World Savings merger with Wachovia.

    Advice to ManagementAdvice

    Provide Management Training for senior managers, especiall former World Savings managers. Implement an MBO process; An administrative process whereby supervisors and workers jointly set goals and meet periodically to evaluate progress. Implement a "360 review process" where managers are rated by the people they supervise. This will reveal the depth and breath of the management problems at Wachovia. Require all managers to attend training that will identify and correct outmoded and outdated management practices that other companies abolished during the 80's and 90's. Lastly, stop promoting "top producing salespersons" into management positions unless and until they have completed an extensive EVALUATION of their ability to manage people, and have adheared to a rigerous leadership training curriculum inclusive of an evaluation process.

There are newer employer reviews for Wachovia

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