There are newer employer reviews for Wells Fargo

 

Stressful, unethical and unhealthy company

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Former Employee - Anonymous Employee
Former Employee - Anonymous Employee

I worked at Wells Fargo full-time (more than an year)

Pros

No positives to working at this company.

Cons

Your morals will be challenged. Unethical sales practices. No work-life balance. Compensation non-existent. Stressful. Although it's a large company, there isn't much room for career growth unless you know the write people and play the aggressive sales game. Astronomical goals that aren't obtainable unless you practice unethical selling and you compromise your own morals.

Doesn't Recommend
Negative Outlook
Disapproves of CEO

6758 Other Employee Reviews for Wells Fargo (View Most Recent)

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  1. 3 people found this helpful  

    Sales position disguised as Customer Service Rep

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Phone Banker in Boise, ID
    Former Employee - Phone Banker in Boise, ID

    I worked at Wells Fargo full-time (less than an year)

    Pros

    -18 days of PTO upfront (however you will have to pay it back if you use all of it up and quit within the first year)
    -flexible attendance policy
    -many shift options

    Cons

    -anyone who has written a review claiming to like the phone banker job probably (1) chooses not to feel what Wells Fargo does to their customers and/or (2) doesn't care either way. Anyone who has even the tiniest speck of decency or integrity flowing through their veins has to feel uncomfortable at this job. This is not a customer service job. Your job as a phone banker is to "service the call as quickly as possible so you can refer the client to sign up for another product or service." Even if the client finds themselves near a negative balance seemingly every day, your team leads and supervisors will tell you to get them to agree to speak with a "specialist" (sales rep) about opening up a credit card or another checking account (or many other products and services). The problem is, Wells Fargo is a rich person's bank. Wells Fargo has no basic free account. You have to meet multiple requirements each month in order to keep the account "free." Whether that is maintaing direct deposits totaling $750 a month, 10 debit card transactions, $2,000 daily balance, linked Wells Fargo home mortgage, etc etc. Most people nowadays can't satisfy these requirements, which in turn gets their account monthly service fees. Yet, here your team leads and supervisors are saying you should get these people over to sign up for ANOTHER checking account they can't afford, or a credit card. They will tell you that it is the best thing for the client, when in reality you are coercing them to make a horrible financial decision because Wells Fargo upper management wants to profit in ANY WAY possible.
    -your daily sales goals require a 25% referral rate, which means you gain permission from the client to make a sales pitch. As long as they don't say "no," you get to track it. Also, a 10% warm transfer to a specialst. This means you've gotten permission from the client to make a pitch, and then you also get them to agree to speak directly with someone about signing up for the product. The trainers, team leads, and supervisors will tell you that these aren't hard numbers to achieve. Because your referral rate is only 1 out of every 4 calls, and your warm transfer is 1 out of every 10 call. Seems simple enough. The problem is, you can get 7 people in a row just wanting their balance, ghost calls, angry customers who don't want to hear it, and then all of a sudden you are 10 calls behind. Then to make matters worse, you get emails and visits from management asking why your numbers are low. The demand from management and customers will have you wanting to quit every single day. They will tell you that if you tough it out, you will get a big incentive payout which is quarterly. Yet that is practically unattainable. In fact, the incentive payout you receive for your sales numbers is only a QUARTER of what Wells actually profited.
    -every aspect of your life is monitored when you are at work, which will make you feel like you are in a prison. Your break and lunch times are set up by a computer. Literally every second you are off the phone is kept track of.
    -all in all, once you have worked this job even for just a short amount of time, you will begin to see just how Wells Fargo has really set up policies that are completely NOT client-centered. Fee waivers are a joke, no legitimate and simple free accounts exist, constant gaming to meet sales goals deprives clients of information they need to know in order to avoid fees, etc etc. This is a rich person's bank, and we know that 99% of their clientelle don't fit that demographic. If you have any shred of decency, compassion, and integrity, you will begin to hate yourself for what you do every day, and Wells Fargo in general. This may seem very intense, but I literally believe you should not believe any of the good reviews this position has received. The only times you are able to truly "help" a client is on Wells Fargo's terms. I only worked there as long as I needed to before getting hired at another bank with a much better philosophy.

    Advice to ManagementAdvice

    Wells Fargo is a brand that has been around for a very long time. It is obviously successful based on the assets this company holds, the client base, the footprint, all of it. Wells Fargo basically sells itself, because of the convenience of being everywhere all over the country. There is no need to force branches and call centers to sell in the manner which is required of them. It creates dishonest business practices in order to fulfill job obligations and not get fired, very unhappy and irate customers, stress on your employees, and a bad image of the company overall. If this company could only get rid of the highly aggressive sales tactics and let their name speak for itself, I could personally guarantee that this company would thrive even more than it already has. Until that happens, this company is headed for a meltdown based on its public image all the way down to its lower level employees.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2. 1 person found this helpful  

    WRONGFULLY TERMINATED/ TELLER

    • Comp & Benefits
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    Current Employee - Teller in Charlotte, NC
    Current Employee - Teller in Charlotte, NC

    I have been working at Wells Fargo part-time (more than an year)

    Pros

    Benefits
    Tuition Reimbursement
    Higher Pay (because of what you deal with on a daily basis)
    Promotions are hard because managers can have the authority to hold you back when they know you're strong enough.

    Cons

    To many cliques, and if the managers and certain members don't like you...best believe they will make your job a living hell. It's a lot of favorism with the managers and service managers. I was so happy when I got hired at Wells Fargo and the manager was fake and a back stabber. Really rethink before you accept a job with Wells Fargo and i HIGHLY suggest you keep your options open, because you can lose your job just as quick as you got it just because the manager being on some sort of power trip.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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