Wells Fargo Reviews
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Company Rating Based on 511 ratings “Neutral” |
CEO Approval Based on 428 ratings John G. StumpfPresident, CEO, and Director 57% |
Reviews are posted anonymously by employees (updated Feb 8, 2010)
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Pros
if you want to start a career coming stright out of collge- this is a good place to start. its great to have on a resume- but you definatly want ot finsd a better job after 6-12 months
Cons
there is limited growth at wells fargo financial. you will be making cold calls to customers who do not want to hear from your- but you may alwso be able to really help certan peple out
Advice to Senior Management
you really need to compensate your employees better or you will loose everyone very soon0 why do you think your turnover rate is soo high?
Pros
They actually have good benefits and the pay is decent. Your coworkers become your family (in good and bad ways).
Cons
Too much stress on sales. I don't get paid THAT much to hound customers about little things. Hours are not flexible at current branch, were very flexible at former branch. Manager does not seem to think there is a life outside of work except for herself.
Advice to Senior Management
Put everyone on a career path immediately, and at their one year, either help them move onto the next phase or really focus on getting them ready. I'm sick of doing the same thing day in/day out (think Groundhog Day). I love WF as a company but wish I could advance (partly due to the economy).
Pros
Extremely competent management team. Outstanding training. Great opportunities for those that exceed high production goals.
Cons
Intense sales culture. Very competitive atmosphere. Little to no sense of team work.
Advice to Senior Management
Keep doing what you're doing. It's not for everyone, but that's a good thing.
Pros
A Chance for advancement as long as you never make waves.
Cons
Immature managers, outrageous goals, and waste of employee's time every morning for a huddle.
Advice to Senior Management
Promote based on numbers and service, or on one or the other. Some people work too hard to achieve high numbers just to watch someone else who doesn't try get promoted as well.
Pros
More autonomy on investment side than bank side. Constant stream of leads from banking customer base. Generally very nice people to work with, regardless of the line of business. Conservative posture in lending and banking has made Wells very strong through tough economy. Wells avoided most of the risky business of other financial institutions. Warren Buffet is major shareholder :-) The majority of clients are very nice and feel a strong attachment to Wells.
Cons
No opportunities for advancement currently from an associate role to an advisor role unless you have significant prior sales experience or perhaps a book of business to bring in from another firm, otherwise you have to get lucky and get the nod from an established financial advisor to come on as a partner. Don't feel there is any real career path planning for associates. It's easy to get burned out after a while since the work that is done every day is mostly servicing accounts, so it gets a bit monotonous.
Advice to Senior Management
A program should be designed for sales associates that clearly delineates a career path that one can look forward to. Better training should be instituted to help transition promising associates to full production finacial advisor roles.
Pros
Any company that has benefits is a plus when you have a family. Some of your co-workers are fun to work with. Make good friends with customers.
Cons
Sales expectations are too high!!!!! the compensation for being the top sales person is not worth the agrevation and headaches. There are conference calls three times a day with the District Manager to see if you are selling. If not they call you out and put stress on the manager in turn the manager goes crazy and makes for an unpleasant atmosphere. The manager consistantly pressures you for sales until the day is over. If you don't open new accounts everyday, you will be fired. Not enough compensation to put up with the BS!!!!
Advice to Senior Management
Stop micromanaging and using people. The companies motive is to higher as many people with a lot of friends use them and abuse them and get rid of them, to make room for new blood. Stop cutting people's throat and change the philosophy.
Pros
With recent acquisition, there is significant opportunity to move across different functional groups with the ability to select locations across the country.
Cons
Sometimes you're asked (made) to do what may be right in the 'eyes of others' but what might be right for the workgroup/company.
Advice to Senior Management
Sometimes it is necessary to tell people the way it is and not try to sugar coat things -- doesnt' always lead to the optimal solution.
Pros
-time off
-great place to get experience
-growth opportunities
-good resume builder
-good place to network for future employment
-decent pay
Cons
-too much pressure
-lack of respect from management
-micromanaging
-unrealistic sales goals
-feel like just a number working at Wells Fargo
Advice to Senior Management
less micromanaging, more respect, look at things from a human perspective rather than an angle that upper management prefers-sometimes it's not possible to hit a goal less than an hour before you have to leave if you are no where near being close to hitting it.
Pros
It's a large company that has a variety of different areas to get involved with. Advancement is possible but must wait atleast 1 year before applying for another position within the company.
Cons
Since it is a big company, there is a lack of individual feedback you receive. Also because of the large coroporation there is a mix of education levels that I work with- sometimes it is frustrating
Advice to Senior Management
Try to interact with lower levels in order to keep their interest wit wells fargo. it is a great place to start working but in order to keep workers- they need to have incentive.
Pros
Really good benefits. Decent pay. Pretty high for someone with no banking expierence whatsoever. Decent hours.
Cons
Super stressed about sales. Also training was very concentrated on customer service, not product. So now I'm sitting there trying to help people open accounts and products that I don't know that much more about than they do.
Advice to Senior Management
A lot more training on products. Reading the brochures and training materials isn't enough. Someone who has never worked in a bank needs more help! And don't push your new employees so hard to get sales.
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