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Wachovia Reviews

Updated December 21, 2017
734 reviews

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3.5
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Approve of CEO
Wachovia Chairman and CEO John G. Stumpf
John G. Stumpf
187 Ratings

734 Employee Reviews

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Pros
  • Great benefits to employees including starting with 18 days of PTO (in 38 reviews)

  • This was a bank that was all about customer service, not just sales as you find so often (in 27 reviews)

Cons
  • none - focused direction great locations great customer service (in 22 reviews)

  • Upper management gave lots of pressure for branch to meet its goals (in 21 reviews)

More Pros and Cons

  1. Helpful (1)

    "Working For Wachovia , and LOVIN' it !"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Teller in Charlotte, NC
    Current Employee - Teller in Charlotte, NC
    Recommends
    Approves of CEO

    Pros

    It's a company that makes sure it delivers a great internal and external service " customer and employee service"

     We Are Number One in Customer Service for the past Seven Years.

    It's a place that recognize hard work, talent and loyalty, therefore Wachovia honors and rewards that individual, team and region.

    Wachovia is a big growing company that I feel comfortable to work for and represent it.

    Wachovia is My Asset.

    Cons

    The competition in the Banking industry is really high; although Wachovia is considered one of the biggest banks, it's going to take harder work to be number one.

    It's not everywhere.

    Advice to Management

    Great Job. Keep it up.
    I would some day to meet you , and get to work with you one on one so i can learn more.


  2. "Wachovia is that and so much more! Love working for Wachovia, been there almost 3 years!"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Trust Associate in Lancaster, PA
    Current Employee - Trust Associate in Lancaster, PA
    Recommends
    Approves of CEO

    Pros

    The benefits offered, the pay is higher than any other bank for the same position, they like to promote from within, lots of vacation and family care time given, very friendly atmosphere, and were #1 in customer satisfaction for the sixth straight year in a row. The longer you work at Wachovia the better your benefits, pay, and time off is.

    Cons

    Well everyone wants more money then what your employer is offering to give you so money is always an issue no matter where you go even though Wachovia pays their employees more than other banking institutions for the same positions (do the research, its true). It can be sometimes hard to get promoted or apply for a higher position, just depends on who else applied for the same job as you and if they have more experience or not, otherwise they hire internally more than externally.

    Advice to Management

    Give more bonuses for a job well done. Help those that want to learn and move up when its asked, don't just stop at training when one has done all the training they can allow in a year. I hate a brick wall slowing me down or stopping me.

  3. "Thompson is a strong leader with a good vision for the future."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Administrative Assistant in Richmond, VA
    Current Employee - Senior Administrative Assistant in Richmond, VA
    Recommends
    Approves of CEO

    Pros

    We have a ton of fun, it's a great place to work - friendly people, great hours, great pay, decent work, understanding management. I've been there 10 years!

    Cons

    Sometimes, it seems that one gets pigeon holed into the current job and promotions are hard to come by because the hiring managers tend to think one can only do that job and not something different.

    Advice to Management

    Keep up the good work. Let recruiters and hiring manages feel comfortable that someone can do the job, even if they don't have the exact stated experience on the resume, take a look at transferrable skills, too.


  4. "Great Place...But Only if You're Flexible"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - WDA Support Specialist II in San Antonio, TX
    Current Employee - WDA Support Specialist II in San Antonio, TX
    Recommends
    Approves of CEO

    Pros

    A variety of opportunities exist for those who are looking for them.

    Cons

    I don't have a fixed schedule. Some weeks I have to work a later shift which throws everything off. Senior management won't offer a shift differential for those hours worked.

    Advice to Management

    Senior management of my department needs to start caring about their employees and less about the department's bottom line. If a shift differential were offered, I wouldn't complain so much.


  5. Helpful (1)

    "Ken Thompson was voted by Board of Directors to resign"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Sales Associate in South San Francisco, CA
    Current Employee - Sales Associate in South San Francisco, CA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Benefits and the constant interaction with customers and co-workers if you enjoy that type of environment. My direct managers are great and very encouraging. I don't feel as though it is difficult to ever approach them for anything.

    Cons

    The one big downside as we speak is the fear of layoffs and never know if today is the day. Alot of pointing fingers between departments. Some division managers seem to have gotten the responsibility of being in a position of authority and have it gone to there head. The level of respect between upper managers and staff. Pay is extremely low for the level of stress that is put on you individually.

    Advice to Management

    Please be open and don't sugar coat and say everything will be fine when it is not.


  6. Helpful (1)

    "Wachovia Securities"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Phoenix, AZ
    Current Employee - Financial Advisor in Phoenix, AZ
    Recommends
    Disapproves of CEO

    Pros

    The investment platform is very robust and there is zero pressure to sell proprietary products. The comp plan is extremely simple and competitive.

    Cons

    The firm's awful buy of Golden West Financial is beating up the stock, which leaves the company ripe for an acquisition.
    The firm is also buy happy, with several mergers in the last few years. As an employee you often take a back seat in terms of support becasue the back office is constantly focused on helping out the employees of the company we just took over first.

    Advice to Management

    Stop merging and focus on making the firm better from the inside.
    Boost deferred comp. Cash comp is great here, deferred comp is slightly lagging our peers.


  7. "My senior leadership is wonderful; I love working for this company!"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Branch Manager in Los Angeles, CA
    Current Employee - Branch Manager in Los Angeles, CA
    Recommends
    No opinion of CEO

    Pros

    The work/life balance mantra is taken seriously, management is supportive, and feedback really is a gift. Wachovia gives you the tools and then some to suceed, they even support you with the drive if you need it. They care about what you think and I've seen them make adjustments to make sure their employees are happy.

    Cons

    The banking industry isn't exactly giving people a reason to jump up and down right now. As for Wachovia, I have nothing bad to say.

    Advice to Management

    Your support by stopping by the financial centers and your positive spirit goes sooo far. I'm so impressed that the senior management is always in view and cares about everyone on a personal level. Ken Thompson will be missed.

  8. "Hoping for the best now that Ken Thompson is gone."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Personal Service Representative - Email Department in Columbia, SC
    Current Employee - Personal Service Representative - Email Department in Columbia, SC
    Recommends
    Disapproves of CEO

    Pros

    The benefits are excellent. After almost 10 years, I have 4+ weeks of PTO yearly, plus 2 weeks of Family Care Time, which I can use to take care of my elderly parents, when necessary. Management is very amenable to taking time off when needed, and using your PTO each year. There are many ways to improve your professional development through the HR Learning Connection website, and new position openings post daily. Compensation is fair for the work performed, compared to other companies in the same area.

    Cons

    It's a large corporation, so many decisions are made without feedback from employees beforehand or to employees afterward. Many jobs are being outsourced, with poor training and management, both in-house and off-shore, so the customer is suffering.

    Advice to Management

    Get the customer back in focus. Spend less time trying to make the company larger and more time trying to make the work product more quality-centric.


  9. "Are you sure you want to work for a bank?"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Specialist
    Current Employee - Financial Specialist
    Doesn't Recommend

    Pros

    Older employees still have a pension plan. Dollar for dollar match on 401k plan up to 6% if you can afford it. Weekends off in most markets.

    Cons

    Management slow to respond and inform employees of important developments leaving front line employees in awkward positions. Front line employees are given a lot of responsibility, but little power to deal with the issues. Goals are set too high & create low morale.

    Advice to Management

    Lead by example. Respect must be earned, not demanded. Stop the conference calls, and get out in the financial centers to see whats really going on.


  10. Helpful (1)

    "Time for Senior Leadership to take thier worthless options and leave!"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Program Manager in Charlotte, NC
    Current Employee - Program Manager in Charlotte, NC
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Location in Charlotte is nice

    Cons

    Very poor controls, Leadership has been in place at most levels way too long, stagnant ideas

    Advice to Management

    Bring in new Senior Leadership with strong banking experience. Get your arms around controls and base compensation on actual performance,


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