There are newer employer reviews for Wells Fargo
There are newer employer reviews for Wells Fargo

See Most Recent

Eh, I've had better

  • Work/Life Balance
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Current Employee - Anonymous Employee in Friendswood, TX
Current Employee - Anonymous Employee in Friendswood, TX
No opinion of CEO

Pros

The hours are decent, and the goals well laid out.

Cons

The objectives to achieve payout for sales & customer service are often unrealistic. Gallup surveys giving customers a 1 to 5 option, and everything but perfect 5's are considered bad and can cost you bonuses and raises. Unrealistic & ever increasing minimum sales goals keep a majority of employees from reaching a bonus payout. For example Wells Fargo raised a minimum sales goal from 70 to 100 in one year!

Advice to Management

Make sales goals a little more realistic and obtainable. Factor on your people skills as opposed to your accounting numbers. Some customers never give a perfect score. Period.

Other Employee Reviews for Wells Fargo

  1. If you're looking for a entry level position in Banking, Wells Fargo is for you.

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Personal Banker in Mountain View, CA
    Current Employee - Personal Banker in Mountain View, CA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    - Commercial Banking Industry Experience - Fast Paced environment - Health, Dental, PTO Benefits

    Cons

    - Middle Management bias - Micro-managing of all employees - Little to no job growth - Hostile corporate culture created from fierce competition within bankers - No support from Banking store manager or District Manager

    Advice to Management

    Hire managers that have banking experience and a manger that will sit down to coach their tellers, Personal and Premier Bankers, also have a District Manager that's willing to sit down to both the manager and personal banker if any conflict occurs or it can go directly to HR. Maybe that's why there's a high employee turnover and clients closing their accounts.


  2. Helpful (1)

    OK place to work, can be frusteratingly beurocratic, and profitability is increasingly at the employee's expense

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Service Manager in Denver, CO
    Current Employee - Service Manager in Denver, CO
    Approves of CEO

    Pros

    Well known company, 401K matching is generous, good PTO, there is opportunity for advancement within Retail (but it's near impossible to get our of retail into other parts of the company), $5000/year tuition reimbursement for business classes is great

    Cons

    The thing that makes me the most upset about the changes that have occurred in the last couple years is that the company is making up for reduced revenues by cutting employee benefits. Case in point: They got rid of good healthcare this year and went with cost sharing plans which shifts the burden to the employee. The old plan had a $100 out of pocket ER copay and the rest was covered. I had that coverage for 3 years and never once needed it. Under the new "cost sharing" plan that went into effect on Jan 1, which by the way I pay exactly the premium for as last year, I now also had to pay $1300 out of pocket for a simple ER visit. Literally every time I go to the doctor I have to pay the copay, and then on top of that I am charged 20% of any tests or procedures the doctor does as well. The Retail/Community Banking line of business, which is the largest and most visible part of the company, is run by a bunch of slave drivers with unrealistic expectations who have convinced themselves that every time a customer is unhappy about something, 100% of the blame lies with their personal banker or teller, despite the fact that the employees who have direct contact with the customer are powerless to do anything other than regurgitate the beurocratic policy coming down from above. The business model has become much more focused on generating revenue through fees than it used to be, and it is nearly impossible now to help the customer avoid fees. This makes customers upset when they look at their bank account, but management has convinced themselves that "it's not fees that make customers unhappy, it is the service they receive when they come in"

    Advice to Management

    Upper Management seems competent, but Middle Management needs to wake up and get realistic expectations about what goes on in their stores. They need to acknowledge that it is the bank's policies and procedures that makes customers upset, not individual retail team members. They need to re-vamp the way they measure customer satisfaction, because it is neither statistically accuraurate nor fair to the retail employees. And stop cutting employee benefits just so you can report record profits every quarter!


There are newer employer reviews for Wells Fargo
There are newer employer reviews for Wells Fargo

See Most Recent

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