Wachovia Reviews

Pros

Great discounts on banking services and loans. Used to be alot more pros until Wells Fargo took over and ruined a great banking model.

Cons

Was a great place to work until Wells took over. Wells cut the ability to make commission and started getting rid of all highest paid employees and hiring people for half the money. Training went to s@@t too as they only provide new hires with about three weeks of training. Let's just say they get what they paid for as half the new hires either quit or are fired withing the first six months. My clients that get to deal with the "new employees" always complain how incompetent they are. This approach to business does not work, or at least it does not work in affluent market areas as most of the clients started jumping ship as soon as wells started making changes.

Advice to Senior Management

You get what you paid for and it will come back to bite you in the ass. Everyone is leaving because they are afraid of being let go for making too much money.

Pros

Positive Environment overall and decent management.

Cons

Financial Sector Troubles are a cause for concern.

Pros

Good benefits, good growth opportunity

Cons

if you are a self motivated individual it is a tough environment. Very hands on and micro-managing mentality. Three check-in conference calls per day with manager to discuss production for the day. daily commitments every day after close as well as in the morning.

Advice to Senior Management

I would not manage every individual the same. Some people perform better without the micro-management.

Pros

Sr. management accessibility, work/home life balance, regular feedback on job performabce

Cons

Limited earnings potential when moving in the organization

Advice to Senior Management

Keep up the good work!

Pros

Wachovia is very typical corporate america work place.

Cons

women's salaries were significantly less than the men's

Advice to Senior Management

try to incorporate more diversity at the management level.

Pros

micro managed, 3 months black out for pto, time off if approved not timely

Cons

no real chance of making goals or making commisions- set the bar so high- hours of calling customers by phone

Advice to Senior Management

Its human nature to not give when you force employees to work 6 days a week floating holidays are joke

Pros

Decent benefit package. A lot of resources to work with as a Financial Advisor. Back office and support staff very helpful in resolving client issues.

Cons

Terrible technology platform. With every merger, which there have been a lot of, the communication got worse, fees for our clients kept going up and cannibalism among the financial advisors grew rampant.

Advice to Senior Management

Wachovia needs a better and more consistent communication system in place. Brokers always finding out last about changes after clients complain.

Pros

4k a month bonus for first four months.

Cons

Not enough programs to compete with the big brokers in town!
Lack of flexibility for marketing!
No diversity!

Advice to Senior Management

Diversify not just your portfolio but also your staff!

Pros

They will pay for training and licenses if needed

Cons

The company is poorly run and their is low moral through the bank branches

Advice to Senior Management

quit

Pros

Commissions were good for awhile.

Cons

They always found a way to pay less each year and make you work harder to make less money.

Advice to Senior Management

none