Wells Fargo - Great place to work, but limited internal growth potential | Glassdoor
There are newer employer reviews for Wells Fargo
There are newer employer reviews for Wells Fargo

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Helpful (2)

"Great place to work, but limited internal growth potential"

Star Star Star Star Star
  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Current Employee - Operations Analyst III in Charlotte, NC
Current Employee - Operations Analyst III in Charlotte, NC
Recommends
Positive Outlook
No opinion of CEO

I have been working at Wells Fargo full-time (More than 8 years)

Pros

The people are great. The company is strong and stable. There are many job types and opportunities within the company. It's a great place to get experience.

Cons

There is an internal policy that limits growth of the employees to about 15% for internal promotions. This isn't an issue if you join the company at a reasonable market rate, but if you are planning on starting at the bottom and trying to work your way up, you will quickly find that you will always be at the bottom. The consensus from employees I have spoken with is that the best way to earn a respectable salary is to leave the company and come back at a decent rate. I know two individuals who did this and doubled their salary in one year, keeping in mind that they were severely underpaid to begin with.

Advice to Management

Try to build a better culture of talent retention. Too many great employees leave because of the rigid compensation policy. Just because you get a bargain rate on an employee to begin with doesn't mean that you should hold them at the bottom for the rest of their career. The smart employees will always leave for better pay, and you will be left with the least ambitious, least talented people working for you for the long term. This does not seem to be a very good recipe for success.

Other Employee Reviews for Wells Fargo

  1. "A stressful Job"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Teller in Campbell, CA
    Former Employee - Teller in Campbell, CA
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Wells Fargo part-time (More than 3 years)

    Pros

    Good bonus, great team bonding activities, you get Sunday's off because they are closed, meet diverse people, great learning experience if you are in the field of business, tuition reimbursement, good health insurance.

    Cons

    Sales goals are very high at times, tellers have to sell just as bankers, not very considerate of school schedule sometimes, at times its repetitive specially when having ti use the script.


  2. Helpful (1)

    "Regional Private Banker Minneapolis, MN"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Regional Private Banker in Minneapolis, MN
    Former Employee - Regional Private Banker in Minneapolis, MN
    Recommends
    Neutral Outlook
    Approves of CEO

    I worked at Wells Fargo full-time (More than 8 years)

    Pros

    technology is great. working for a large company, it is possilbe to have a long rewarding career. 401k and vacation time are generous. Salary is average for this position in the marketplace. Midpoint for a seasoned private banker 1 is 55,000. Private Banker 2 is 62,000. both have annual and quarterly bonus potential.

    Cons

    Sales expectations are high; bankers have a dotted line reporting to an affluent sales coach; be prepared for intense one on ones at least once or twice a month to review sales pipeline. Bankers are responsible for achieve 3 of four metrics in deposits, investments, loan, and partner referrals.

There are newer employer reviews for Wells Fargo
There are newer employer reviews for Wells Fargo

See Most Recent

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