Wells Fargo

  www.wellsfargo.com
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2 people found this helpful  

Great place to work, but limited internal growth potential

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Current Employee - Operations Analyst III  in  Charlotte, NC
Current Employee - Operations Analyst III in Charlotte, NC

Pros

The people are great. The company is strong and stable. There are many job types and opportunities within the company. It's a great place to get experience.

Cons

There is an internal policy that limits growth of the employees to about 15% for internal promotions. This isn't an issue if you join the company at a reasonable market rate, but if you are planning on starting at the bottom and trying to work your way up, you will quickly find that you will always be at the bottom. The consensus from employees I have spoken with is that the best way to earn a respectable salary is to leave the company and come back at a decent rate. I know two individuals who did this and doubled their salary in one year, keeping in mind that they were severely underpaid to begin with.

Advice to ManagementAdvice

Try to build a better culture of talent retention. Too many great employees leave because of the rigid compensation policy. Just because you get a bargain rate on an employee to begin with doesn't mean that you should hold them at the bottom for the rest of their career. The smart employees will always leave for better pay, and you will be left with the least ambitious, least talented people working for you for the long term. This does not seem to be a very good recipe for success.

Recommends
Positive Outlook
No opinion of CEO

Other reviews for Wells Fargo

  1.  

    Lots of opportunities and very rewarding career

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Manager  in  Des Moines, IA
    Current Employee - Manager in Des Moines, IA

    Pros

    Managers open to employees transferring internally and grow.
    Competetive compensation, flexible working hours, multiple locations and option to telecommute depending on job

    Cons

    Large company so change is slow

    Recommends
    Neutral Outlook
    Approves of CEO
  2.  

    If you get a good manager and are willing to work, the sky is the limit.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Personal Banker  in  Las Vegas, NV
    Current Employee - Personal Banker in Las Vegas, NV

    Pros

    The company offers great benefits, including solid vacation pay (from Day 1), company match 401k (after year 1), reasonable starting salary, good hours with easy work/life balance, and significant growth opportunities. The job itself is not hard if you're somewhat intelligent and are a people person. If you're willing to work hard, you will see doors opening much faster, of course.

    Cons

    Of course there is sales pressure, but its not anywhere near as bad as I've read in other reviews (of course this will vary greatly depending on where you are working and under whom). I was fortunate to get one of the good managers. Phenomenal, actually. Not without flaws, but a genuine concern for his employees and their growth. A decent amount of downtime (which I actually enjoyed), and some days it can be boring, but that is up to you. Conference calls are not awesome. My biggest complaint is probably the number of employees that should not have been hired in the first place. Wastes time and money to train them when they end up quitting or getting fired within 6 months anyway.

    Advice to ManagementAdvice

    Weed out bad hires more quickly and recognize and promote talent sooner. This is minor, though. Overall, all that really needs to happen is that the bad managers need to either be trained by the good ones or weeded out sooner.

    Recommends
    Positive Outlook
    Approves of CEO
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