Wells Fargo Reviews in Chicago, IL | Glassdoor

Wells Fargo Chicago Reviews

Updated August 18, 2018
55 reviews

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Chicago, IL

3.4
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Approve of CEO
Wells Fargo CEO Timothy J. Sloan
Timothy J. Sloan
12 Ratings

55 Employee Reviews

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Pros
Cons
  • "Work/life balance can be non existent depending on your business line" (in 362 reviews)

  • "sales goals were a major part of the job" (in 1264 reviews)

More Pros and Cons

  1. "Benefits"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Chicago, IL
    Current Employee - Anonymous Employee in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Wells Fargo full-time

    Pros

    Strong PTO days from day 1 (23 days + 13 holidays); 16 week maternity leave

    Cons

    Sometimes pays under market pay


  2. "Wells Fargo Advisors"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Chicago, IL
    Current Employee - Financial Advisor in Chicago, IL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Wells Fargo full-time (More than a year)

    Pros

    Midwestern values, more Main Street than Wall Street

    Cons

    Advisor comp plan has production hurdles before higher payout rate applies. Hurdle incentivises advisor to push higher commission products in order to reach higher payout rates sooner.

    Advice to Management

    Remove production hurdles and lower average payout rate. Also, keep the company out of the headlines.

  3. "Premier Banker"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Premier Banker in Chicago, IL
    Current Employee - Premier Banker in Chicago, IL
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I have been working at Wells Fargo full-time

    Pros

    Base pay is pretty good.

    Cons

    Bad management and too much bureaucracy.


  4. "Commercial Leader"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Sales Manager in Chicago, IL
    Current Employee - Sales Manager in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Wells Fargo full-time (More than 10 years)

    Pros

    Awesome company, really cares about the customer.

    Cons

    Bad press caused by poor behaviour in retail banking.

    Advice to Management

    None, they are doing the right things.


  5. "Shady Practices"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Chicago, IL
    Current Employee - Anonymous Employee in Chicago, IL
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I have been working at Wells Fargo full-time (More than a year)

    Pros

    Lots of growth potential
    Good benefits

    Cons

    They care much more about money and meeting goals than they do their customers or employees.
    They will push you, especially if you are in a metrics based positions.
    No flexibility (work life balance)
    No autonomy in your job (no matter what position you have or how senior)

    Advice to Management

    Care more about people.


  6. Helpful (1)

    "good company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Teller in Chicago, IL
    Current Employee - Teller in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Wells Fargo full-time (Less than a year)

    Pros

    great benefits with lots of PTO

    Cons

    cant complaint its all good


  7. "Excellent company to work for."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Home Mortgage Consultant in Chicago, IL
    Current Employee - Home Mortgage Consultant in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Wells Fargo full-time (More than 10 years)

    Pros

    Resources, brand recognition, opportunities. Wells gives you the tools to be successful. It is up to you to use them.

    Cons

    Underpaid compared to competitors. Wells doesn't like smaller loan amounts. Tough company to break in with. Rates and costs can be higher than competition

  8. "Portfolio Manager II"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Portfolio Manager II in Chicago, IL
    Current Employee - Portfolio Manager II in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Wells Fargo full-time (More than 5 years)

    Pros

    More job stability than other banks

    Cons

    Compensation is on the low end of peers


  9. Helpful (2)

    "A Great Place to Work But Ruins by Dysfunctional Management"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Vice President in Chicago, IL
    Former Employee - Vice President in Chicago, IL
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Wells Fargo full-time (More than 5 years)

    Pros

    Wells Fargo has a good reputation. Offer great benefits (PTO, Medical, 401k retirement, etc). I worked with some very smart people who are also some of my closest friends.

    Cons

    Company culture is too focus on "what have you done for me lately". Client retention is irrelevant unless accompanied with strong sales, especially in the Chicago office. As a specialist, even though sales in supposed to be 25% of your scorecard, it's not treated as such. Market Director manages by spreadsheet and has no management skill of staff, and essentially creates revolving door at office. Not many staff members stick around more than 4 years. Too much subtle favoritism, sexism and racism take place.

    Advice to Management

    Focus on becoming the trusted advisor to clients rather than a salesman. Clients can see through it. High level of staff turnovers will not instill confidence in clients to trust your motivation to work with them.


  10. "Used to be a great place."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Commercial Relationship Manager in Chicago, IL
    Current Employee - Commercial Relationship Manager in Chicago, IL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    There are many smart people hired. The bank knows how to lend money and take care of customers. Work life balance is good.

    Cons

    Too much focus on new client acquisitions and cross selling. We are required to work with Product Partners, many of whom are unimpressive or the product area is irrelevant.


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