Wachovia

www.wachovia.com
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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

673 Other Employee Reviews for Wachovia (View Most Recent)

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  1.  

    World does it love its employees?

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Anonymous Employee in Fresno, CA
    Former Employee - Anonymous Employee in Fresno, CA

    I worked at Wachovia

    Pros

    comfortable work environment, easy to learn, good management.

    Cons

    lack of advancement, hard rules, management likes to breath down your neck, changeover to Wachovia cut many jobs

    Advice to ManagementAdvice

    keep the good employees on, and treat them better, higher pay and you will get more loyalty

    Recommends
  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.

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