Wells Fargo Multifamily Capital
3.0 of 5 29 reviews
www.wellsfargo.com San Francisco, CA

Wells Fargo Multifamily Capital Reviews

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3.0 29 reviews

                             

62% Approve of the CEO

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Tom Szydlowski

(8 ratings)

36% of employees recommend this company to a friend
29 Employee Reviews
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    Good opportunity with a great company

    Pesonal Banker (Current Employee)
    Houston, TX

    ProsJob security, and growth opportunity

    ConsPay not competitive...if you're not a kiss up, promotion is hard to get

    Advice to Senior Managementpay your bottom line more and do a sweep with some of the current branch managers.

    No, I would not recommend this company to a friend – I'm optimistic about the outlook for this company

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    Great job, but hard to compete with the cheats!

    Personal Banker (Current Employee)
    Las Vegas, NV

    ProsSecure job with great opportunities to expand. You really have the ability to do a lot of good in peoples lives. 401K, tuition reimbursement, professional staff.

    ConsSales goals not adjusted to accounting for the cheating that goes on.

    Advice to Senior ManagementDo a better job of making sure promotions go to people who achieve their sales goals ethically. It seems the biggest cheaters are the only ones getting promoted. Too many people are willing to 'fake it until they make it". They over-inflate the sales goals with their unethical sales behavior making it harder for the bankers who do it the right way.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    Difficult, high pressure, high stress environment

    Senior Applications Engineer (Former Employee)
    Chandler, AZ

    ProsDecent cubicles
    Work from home 1 day a week usually
    Good technology stack to work with
    Solid QA organization, deployment organization

    ConsHigh turnover of contractors and employees
    Frequent reorganizations
    Sweatshop environment--contributed to several heart attacks and 1 death in a department/team
    Poor documentation of production systems

    Advice to Senior ManagementBetter separation between production support and development teams
    Adopt more modern development processes such as Agile

    No, I would not recommend this company to a friend

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    • Culture & Values
           
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    Good start, but not a long term career

    Credit Manager (Former Employee)
    Orland Park, IL

    ProsThis will teach you the basics of sales and cold calling

    ConsCut throat environment, force you to work weekends, won't pay for overtime (recent lawsuit for this), and they make you feel guilty for taking any time off.

    No, I would not recommend this company to a friend

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    Working Mule Environment (Personal Banker)

    Personal Banker (Former Employee)
    Dallas, TX

    ProsThe best part for me about working at Wells Fargo Bank NA was my co-workers. They all agreed and hated Wells Fargo just as much as I did.

    ConsHorrible Hours, Bad Pay, No Respect, No Recognition, lack of concern from management. Wells Fargo is really numbers driven, if you're not driven to produce, this is not the environment for you. HUGE TURNOVER

    Advice to Senior ManagementFOCUS MORE ON CUSTOMER SERVICE...To the EMPLOYEES, the affect will trickle down to the actual customers....ITS THAT SIMPLE.

    No, I would not recommend this company to a friend

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    I feel like my job is in constant jeapordy- can I breathe yet?

    Teller (Current Employee)
    Melbourne, FL

    ProsHours of operation are convenient to balance home/work life.

    Cons-wage/salary (these people are low ballers)
    -They'll hire anyone
    -it's a "J.O.B." keeps you Just over broke
    -Health care plan needs a re-visit
    -"secret" shops are completely unfair and unethical
    customers are called days after visiting the bank and are asked to scale their experience of 1-5, ANY calls/shops with a rating lower than 5 in ANY area is considered a fail and not only does this affect staff bonus, but the receiver (teller, manager, Banker) as well getting the "bad" shops... its 3 strikes your out!

    Advice to Senior Managementn/a

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    Great company to work for

    Auditor (Current Employee)
    Philadelphia, PA

    Pros-Good advancement opportunities
    -Life/work balance
    -Decent benefits

    ConsIf you start off with a low initial salary the controls in place for merit increases limits you ability to obtain a salary that coincides with the market rate of your position.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    Great vision and values, not great entry-level culture

    Teller (Former Employee)
    Albuquerque, NM

    ProsWells Fargo executives know what they're doing. The company's stock price, customer satisfaction levels and revenue are great. The company treats every employee well as far as benefits go, but that was DRASTICALLY cut beginning of 2012, so not as true anymore. Great company to be in at senior levels, and great company to invest in.

    Cons1.) Customers are generally getting unhappy about the constant changes in fees. Lots of complaints weekly. Oh, well.

    2.) Rampant cheating of sales incentives, often not in the customer's best interest.

    Despite the ideal that CEO John Stumpf strives for in his words, the structure of the incentive program rewards cheating. To meet sales goals, I have seen every single employee I've ever worked with bend the rules against the customer's best interest in order to boost their sales. I'm sure I've even done it unintentionally. There is a risk of getting fired if you don't meet goals, and even if you don't worry about meeting goals, I assure you your managers are worried they'll get fired if they don't meet goals, so be prepared to get tought talk from management.

    The company will fire people, too, for cheating, but it's too easy to cheat. I've seen every single one of the tellers and bankers I've worked with break *some* rule, whether intentionally or accidentally, in order to get a sale from a customer. Usually it's misleading the customers about account minimum requirements or telling them to open up "secondary checking" accounts and then later closing the original account so the banker doubles-up on credit.

    They tell you up front from the start that the retail positions are sales positions and that you have sales goals to reach, so I'll give them points for being transparent.

    Advice to Senior ManagementThey already know there's cheating going on. It'll happen with any company with an incentive structure, and that's just how life is.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    Wells Fargo cares more about earning money than helping the customers

    Service Manager (Former Employee)
    Trenton, NJ

    ProsWells Fargo pays very well. They give you opportunities to make good bonuses.

    ConsTo make those good bonuses they give you unrealistic goals in order to achieve them. They would rather you sell 4 checking accounts to a confused senior citizen than helping them make the right choices that they can manage and understand. This results in a lot of unethical sales practices to make your goals.

    Advice to Senior ManagementTake care of the customer, earn their trust, help them make wise financial decisions. The customers will return and you will profit.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    1 person found this helpful  

    Wells Fargo Multifamily Capital Review

    Senior Analyst (Current Employee)
    Eagan, MN

    ProsGreat team
    Excellent learning
    Good exposure to Financial Sector
    Great Work Life Balance.
    Nice culture and ethical enviornment.

    ConsManagment is lethargic.
    less salary compared to peers.

    Advice to Senior ManagementIncrease the salary and be more flexible towards the employees.You need to be more encompassing and be more flexible towards the employees and follow less of rules and more of common sense.

    No, I would not recommend this company to a friend – I'm optimistic about the outlook for this company

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