Wachovia Reviews | Glassdoor

Wachovia Reviews

140 reviews

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140 Employee Reviews

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Pros
  • They hire top notch people, have top notch training and good benefits (in 60 reviews)

  • Great benefits to employees including starting with 18 days of PTO (in 38 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 20 reviews)

More Pros and Cons

  1. "Be care of what you may be taking on"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Personal Banker II in Raleigh, NC
    Current Employee - Personal Banker II in Raleigh, NC
    Doesn't Recommend
    No opinion of CEO

    Pros

    Ok salary compared to similar positions at other banks

    Cons

    Changes are communicated mostly through email, which you will get about 30 a day minimum. Very high pressure sales, continually focused on "solutions," even if it may not be the right thing for the customer. Little recognition when you do a great job, but constantly berate you when you are not hitting unrealistic goals. Micro-management!! You have reports to fill out on your reports! Can spend just as much time letting management know what you did that day as the time it took for you to complete those tasks.

    Advice to Management

    Streamline the process of communicating changes. Set more realistic goals.


  2. "Once a good place. Now just a place to get a check!"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Pb1 in Columbia, SC
    Current Employee - Pb1 in Columbia, SC
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Biweekly Pay. Great trainning. Tuition reimbursement. Great account. discount of computer items and clothing stores. Overall not a good company

    Cons

    Not enough space. Poor training for managers. Managers change the rules daily. Now we are required to work different saturdays. It is just difficult

    Advice to Management

    My advice to management is to actually take time and see why the turnover is so high. You will not be receiving another customer service award if something does not change. Your people are not happy.

  3. Helpful (1)

    "Used to be better, losing good employees because of Wells Fargo."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Licensed Financial Specialist in Washington, DC
    Former Employee - Licensed Financial Specialist in Washington, DC
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Comp plan was great. Independence and autonomy was possible.

    Cons

    Now that Wells Fargo took over, it is all about micro management and playing hardball instead of employee satisfaction and doing the right thing for customers.

    Advice to Management

    Go back to the basics that made Wachovia great.


  4. "Wachovia Sales Relationship Expertise & Customer Service has taken the Stagecoach, off to the sunset...."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Specialist in San Antonio, TX
    Current Employee - Financial Specialist in San Antonio, TX
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Veterans still kept current great salaries even after the takeover "merger", Sorry for the newcomers though...,Great benefits but you'll be reminded when you do not make incentive or get annual merit raises that your benefits ARE part of your incentives. Hours are decent currently, subject to change once merger is completed. Miss Ya Dear Legacy Wachovia....those were good times!

    Cons

    Micromanagement on steroids! Tracking reports on top of reports, conference calls two to three times aday to tell you what you and Financial Center already reported previously. Slowly losing traditional bank holidays, Outbound marketing call nights extended from one nite to two. TEAM is above the individual be ready to be a conforming worker Ant. Buckle up and be ready to account for every minute of your time on the clock! Oh did i mention your micromanaged?

    Advice to Management

    Wachovia had a great sales/banking model/philosophy. Why fix something that was never broken (8yrs #1 customer service, steller growth annually).....not retails banking fault for the wayward mortgage investment portfolio decisions of past CEO. Wachovia Bankers do not need to learn to reinvent the wheel, we've been rolling great all along without relying on a old WAGONWHEEL sales model of Fargo to show us how real banking and customer service is achieved.


  5. "Never impressed with Wachovia. Glad they're gone."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Mortgage Banking Director in Oakland, CA
    Former Employee - Mortgage Banking Director in Oakland, CA
    Doesn't Recommend
    No opinion of CEO

    Pros

    The company paid well. Management was only focused on quarterly results, nothing long term.

    Cons

    Senior management was inept in their purchased Golden West without fully understanding what they were getting and without having fully digested South Trust and soon after purchasing AG Edwards after similar due diligence and results. ken thompson and the board then raised the dividend in August '07, claimed the company and dividend were safe 6 months after that and then just about 1 month after that the board fires ken and brings in a new CEO (steele) to prepare the train wreck ken and his lackeys built for sale to citi and then wells.

    Advice to Management

    Dont take yourselves too seriously. You've already shown how to ruin a solid company. As you move on to new companies, look to build long term success vs only looking at quarterly results and give back to the communities you serve by keeping people productively employed.


  6. "Great benefits, but..."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Teller
    Current Employee - Teller
    Doesn't Recommend
    No opinion of CEO

    Pros

    They offer great benefits and a lot of time off. They make sure you have the proper training necessary to your job, and they provide constructive feedback.

    Cons

    They seem to be more concerned with meeting their goals than doing what is best for the customer. Managers talk about giving you coaching and helping you meet your goal if you are struggling, but they rarely do.

    Advice to Management

    Actually do what it is that you say you are going to do to help employees. Recognize when we do well and stay involved with the tellers.


  7. "From the merger transition it was a cluster bomb"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Mortgage Consultant in Des Plaines, IL
    Former Employee - Mortgage Consultant in Des Plaines, IL
    Doesn't Recommend

    Pros

    The old World view had a finer Leaders

    Cons

    Communication and efficiency from 2007 until the end was atrocious.

    Advice to Management

    Hopefully with Wells Fargo they have learned their lessons that investing in their employees is a natural progression to investing in their customers.

  8. "Account, lending and investment sales"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Specialist in The Villages, FL
    Former Employee - Financial Specialist in The Villages, FL
    Doesn't Recommend
    No opinion of CEO

    Pros

    good commisson income for working hard. Bankers hours are great! Good teamwork generally within your location. When you make commission others can benefit from the sales.

    Cons

    Not enough gender diversity. Odd this is not seen. Mostly women which isnt so bad unless your the only 1 of 2 men working in the entire area of 50 people.

    Advice to Management

    Do not allow management to manage the same area for too long. To much special outside relationship effects everyone.... and not in a good way. Hire some men!! Ratio of women to men are 25 to 1


  9. Helpful (2)

    "The merger between Wachovia and Wells Fargo equals a Sales-Crazy environment"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Teller in Charlotte, NC
    Current Employee - Teller in Charlotte, NC
    No opinion of CEO

    Pros

    -Good Pay
    -A Decent amount of PTO
    -Great Employee Benefits
    -Great third party benefits
    -40 hour work schedule
    -Stable work environment

    Cons

    -More sales driven now than when I started
    -Excessive Micro Managing
    -Every year there's another paid holiday taken away
    -Benefits carrier seems to change frequently
    -Pay raises are close to non-existant

    Advice to Management

    My advice would be to hire store managers that create better work environments and ones that don't try to micro manage everything. I understand that sales are a part of the job, but to have someone constantly complain and nitpick about your performance daily creates a demeaning workplace.


  10. "I left Wachovia in 2004, I was very unimpressed with the local management and the way the branches were managed."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Specialist in Fort Lauderdale, FL
    Former Employee - Financial Specialist in Fort Lauderdale, FL
    Doesn't Recommend
    No opinion of CEO

    Pros

    The pay check never bounced.

    Cons

    Required overtime, however due to laws, they do not pay for the overtime hours.

    Advice to Management

    need better leadership in Broward cty.


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