Wells Fargo Reviews

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  1. Wells Fargo is a great company but be careful in which divison you apply for work.

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Securities Analyst in Columbia, MD
    Current Employee - Securities Analyst in Columbia, MD

    I have been working at Wells Fargo

    Approves of CEO
    Approves of CEO

    Pros

    The benefits are good, and when the economy is good there are lots of little bonuses and parties thrown for employees.

    Cons

    Currently there is no room for growth. The current economy has completed stopped the growth within the Corporate Trust divison of Wells Fargo. The management has made questionable decisions about it's expectations for future business. When there was rapid growth from 2004-2006 the hiring standards were lowered in order to get people in the company to run the new business. This has allowed for a number of employees of questionable quality.

    Advice to Management

    Create a vision of where CTS needs to be headed, and help align the management to reach that goal. This needs to be communicated to the staff. Goals and high standards need to be set for all employees to make sure the high performers do not get burnt out and the low performers can get by without repremand.


  2. Great place to work

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Business Consultant in San Francisco, CA
    Former Employee - Business Consultant in San Francisco, CA

    I worked at Wells Fargo

    Recommends
    Approves of CEO
    Recommends
    Approves of CEO

    Pros

    Overall, Wells Fargo was a great place to work. Excellent management team, open communications, and good work/life balance. Senior management was approachable and open to new ideas and suggestions.

    Cons

    As with any large company, politics can be strong in certain dvisions within the company.

    Advice to Management

    Senior management encourages employees to 'runs it like you own it'....and many people do. However, this can become a challenge when projects are competing for the same resources or management attention.


  3. Pretty good. Room for improvement.

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

    I have been working at Wells Fargo

    Recommends
    Approves of CEO
    Recommends
    Approves of CEO

    Pros

    Pay is decent. The company is large and there are may places to work.

    Cons

    Senior management talent is sub-par.

    Advice to Management

    Pay closer attention to detail. The environment is too large to generalize the way you do.


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  5. Helpful (3)

    Have a high tolerance to being tied to a phone all day trying to sell to angry customers, then this job is for you!

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Phone Banker in El Monte, CA
    Former Employee - Phone Banker in El Monte, CA

    I worked at Wells Fargo

    No opinion of CEO
    No opinion of CEO

    Pros

    Great benefits package with many options, 401k with matching. Free coffee and hot chocolate, and vending on each floor. Cafeteria on site. Offers benefits even to part time employees. Job security, if you can truly tolerate your position and want it, and can upsell.

    Cons

    I was hired as Customer Service when in fact, it was really a sales job. 95% of the calls you receive are complaints, mostly with customers who are overdrawn and angry about the overdraft fees. In addition to telling them they (probably) aren't getting many, if any, fees reversed (which is understandable to those who don't bother to keep tabs on their spending, and actually think the bank is supposed to do that for them) But to make matters worse, you are then expected to upsell, oops I mean "refer" those angry, hostile people over to next level sales for some other product they either really don't want or ultimately won't qualify for. (Example: Person who takes Direct Deposit Advance at 120% interest, and then has to keep taking them over and over because they've extended themselves and it's an endless cycle. You recommend they take out a line of credit or credit card. Most know when they won't qualify hence taking out a 120% APR payday advance.) Training was okay, although you are talked down to as if (or just in case this is) your first job. Once you are on the phones, you are stuck in a dark cubicle all day every day taking these negative calls, with no real time for comeraderie or to even say hello to your fellow employees. The word monotonous does not even begin to describe the job. You felt guilty even going to use the restroom if it wasn't break or lunch because your supervisor is alerted when you aren't taking calls, so that plus Q.A. monitoring basically means you are micromanaged electronically and tied to your desk. (Interestingly, there was a class action settlement recently from another department for this very infraction.) Like most sales jobs, supervisors are promoted based not on how well they can manage people, but how many sales they made. You can be a great salesperson but an awful manager and vice-versa. Those are two separate skill sets. I got along fine with my manager, but most did not like her (behind her back.) Had it truly been a service job, without the emphasis on sales, I could have probably tolerated it a little longer, but as it was I faced burnout after only 2 1/2 months with the company. And that last month I had to talk myself into not walking out during break.

    Advice to Management

    Stop advertising Phone Bank job positions as Customer Service, and call them what they are - entry level sales. Truly emphasize how sales-hungry you must be at the outset. Better yet, please stop making your customer service people refer on every call. Truly emphasize service - not sales - to your existing customers and they will not only come but stay, based on the golden rule.


  6. Helpful (1)

    more opportunities than other lenders, but pay is not as good as you expect.

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Home Mortgage Consultant
    Current Employee - Home Mortgage Consultant

    I have been working at Wells Fargo

    Recommends
    Approves of CEO
    Recommends
    Approves of CEO

    Pros

    Company brand, strong financially, ability to cross-sell with bankers, additional source of referral from bank stores.

    Cons

    complicated compensation, pay reduction for bank referrals, wells to wells refinance, subsidy used, etc.

    Advice to Management

    could consider providing a small base salary as mortgage consultant is expecting to do more in terms of underwriting and processing.


  7. Helpful (1)

    Wells Fargo Private Mortg. is a great place to work!!

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Private Mortgage Banker in Dallas, TX
    Current Employee - Private Mortgage Banker in Dallas, TX

    I have been working at Wells Fargo

    Recommends
    Recommends

    Pros

    Great support, positive people to work for, great benefits, great potential for growth that would be directly related to my drive, tenacity and tools that Wells Fargo Provides. They have many tools to help me succeed

    Cons

    I have not found anything as of yet to complain about. What I do is tough by going out to seek business and bring it in. However, Wells Fargo hired me because I do have that ability and know how. If you are not successful here, its because you didn't work your plan.

    Advice to Management

    Great Management team. Their experienced, previously high performers and treat everyone with respect and helps them to succeed.


  8. Management communication to staff is severely lacking.

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Application Systems Engineer in San Francisco, CA
    Former Employee - Application Systems Engineer in San Francisco, CA

    I worked at Wells Fargo

    No opinion of CEO
    No opinion of CEO

    Pros

    Good benefits and "large company stability" (for what that is worth). There is always some chance of being able to move from one department to another to continue a WF career. Some very innovative and rewarding projects, but hard to know if you will be able to stay on such a project. Co-workers tend to be upbeat and helpful within each department. Educational opportunities are plentiful if you fight for them. If you align yourself well with your immediate manager and his/her manager, then you are most likely to succeed. You must ask for feedback and act on it, even if it goes against your personal beliefs.

    Cons

    Very poor communication from all layers of upper management. All management communication is upward facing (i.e., managers suck up to their superiors and look down upon their staff).

    Advice to Management

    HONEST, honest, honest, and frequent communication with line level staff.


  9. Helpful (1)

    Great benefits, good company

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Program Associate in Minneapolis, MN
    Current Employee - Program Associate in Minneapolis, MN

    I have been working at Wells Fargo

    Recommends
    Approves of CEO
    Recommends
    Approves of CEO

    Pros

    Great benefits. 5 weeks vacation plus holidays your first year of work if you are salaried, 20 days for first two years if you are hourly then 25 days after that. If you are there a long time you can get up to 35 days plus holidays. Most departments offer flex hours and they are always willing to work with you on your work life balance. The company has huge ethical standards and goes against flow when it comes to shady products. The company is well protected and very stable. There are lots of development opportunities within Wells Fargo. Lots of people truly care about helping you succeed.

    Cons

    Hard to give or get a promotion. You have to interview for everything! Pay is not what it should be. Everything is given a midpoint and in certain groups you can start there, but for the most part, your going to be stuck at 85% of the midpoint at the most, and in some groups you will start at the lowpoint. They also don't give any emphasis on education. Its just as easy for people who don't have a degree to get a position that would normally require a degree. Also the company is in segments and many people do not communicate with other groups that would make Wells Fargo stronger.

    Advice to Management

    Employees always remember the things you neglect and they want to be heard. Listen to the reps at all levels. Even in tough times make sure they are rewarded for their hard work.


  10. Helpful (4)

    Retail Banking has Gone Downhill

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Registered Personal Banker in Irvine, CA
    Current Employee - Registered Personal Banker in Irvine, CA

    I have been working at Wells Fargo

    Doesn't Recommend
    Approves of CEO
    Doesn't Recommend
    Approves of CEO

    Pros

    The company is stable and they offer a benefits package. In the current financial crisis employment at Wells Fargo is pretty secure, however there are rumors of lay off's comming, as we merge with Wachovia.

    Cons

    In order to progress in your carreer in retail banking you have be willing to throw out your morals, pride and common sense and be prepared to do a lot of ass kissing. Retail managment does not care at all about sales emplyees, their only goal is to squeeze as much out of you as they can. As a banker be prepared to be assigned redundant and inefficient tasks which will only hinder you from achieving overinflated and unrealistic sales goals.

    Advice to Management

    Senior Managment has lost touch with how business is really done at the branch level. They should revaluate the efficiency of their new initiatives.


  11. WFF

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Credit Manager in Tuscaloosa, AL
    Former Employee - Credit Manager in Tuscaloosa, AL

    I worked at Wells Fargo

    Doesn't Recommend
    Doesn't Recommend

    Pros

    Money is fair for the work and the employees are treated fairly by upper management.

    Cons

    All the rah rah from overhead. I had a serious moral impediment with what the business that this company did. I understand the risk inherent with some of the clients but the company seemed to want to charge outrageous interest rates to clients that qualified for the best rate going at any other institution. Further, they tried to leverage the employee's relationship with the client and the perception that the employee is a "trusted advisor" to coerce quality borrowers to make dumb borrowing decisions. When I tried to explain to management how this doesn't make financial sense (usually with a NPV calculation) they would respond that "we need to let the customer make the decision". This is why I left the company.

    Advice to Management

    Be fair with clients. Ultimately you will be rewarded for doing so.



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