Wells Fargo reviews

3.5

57% would recommend to a friend

(54,412 total reviews)
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Charlie Scharf

62% approve of CEO

55% positive business outlook

Wells Fargo has an employee rating of 3.5 out of 5 stars, based on 54,412 company reviews on Glassdoor which indicates that most employees have a good working experience there. The Wells Fargo employee rating is in line with the average (within 1 standard deviation) for employers within the Finanzas industry (3.7 stars).

Reviews by job title

54K reviews
2.0
Dec 28, 2008
Recommend
CEO approval
Business Outlook

Pros

A great job when you're in college and just starting out; I had tuition reimbursement for some college costs, and I worked in a retail environment, which allowed me to work part time but still gave me medical benefits (although that's no longer offered to part employees, this was over 6 years ago). Moving up within the branch environment is easy as long as you don't mind sales and are aggressive in asking to move up the ladder. The other positive is you may get end up in an office where the management and staff are great; there aren't many offices that are like that, but like at any company, the people you work with will be a mix of good and bad, and there are some managers that will try to mentor you and help you move up, so it really pays to choose your location carefully.

Cons

Unfortunately, there seems to be more negatives than positives working for Wells Fargo. The sales culture throughout the company is aggressive, with a tunnel vision towards production numbers, with no concern regarding the appropriateness of the sale to the client. It doesn't seem to matter if the customer doesn't benefit from the loan, acct, etc; nor management seem to worry much about the overall revenue impact (for example, bankers are sell equity lines, credit cards, etc to customers that state clearly they don't want to have or use them)- incurring set up costs(appraisals, back office underwriting, etc) that are paid by the bank, with no revenue being generated. The only focus is on the quarterly numbers of new accounts opened and loans generated. Within the wealth management group, there is still an aggressive focus on sales; the investment managers, brokers, and trust team members are paid primarily from fees and revenue that they generate on an annual basis, so there is a strong incentive to keep all clients in accounts that charge annual management fees as a percentage of assets, even when the accounts aren't actively managed- trades are only executed a handful of times a year, so a client would spend much less if they paid per transaction, but again, this is strongly discouraged. Team members are not encouraged in any way to take ownership of the company- there used to be an expression "run it like you own it", that is no longer used. The entry level to mid level managers are underpaid and overworked, and typically don't have much experience, so there is very little direction or mentoring, it's very much learn as you go, and if your sales numbers drop for a quarter, expect to have your job threatened, even if you've performed above standard for years prior. And finally, office politics are a huge issue; gossip and backstabbing seem to be everyday events, especially as you move up to and past the VP level. Talent and results become less and less important, but who you are "friends" with becomes more and more important as you try to grow a career here.

4.0
Dec 26, 2008
Recommend
CEO approval
Business Outlook

Pros

The employees are well treated and you know up front what your responsibilities are. We are treated better than any other place that I've worked for and at least we have input into our jobs with our managers/supervisors. The people that we work with are really quite positive people. They are attuned to learning their jobs and responsibilities and the supervisors/managers are very supportive in their ways to help people at times overcome some difficulties in doing their jobs and trying to juggle that with their personal lives which can sometimes get in the way with family and all that.

Cons

Pressure and sometimes unreasonable/illogical expectations. A manager that I work for evidently spends too much time reading self help books or attending self help spiritual finding or that sort of seminar where they fill you with a lot of rubbish about how you can be the best in your profession by pushing (forcing would be a better term) a "power of positive thinking" attitude on those who work under this person. This is the kind of person who is overly ambitious and uses people for fuel to attain their promotions. There needs to be more communication when there are changes to the way other departments have policy changes which affect other units around them.

3.0
Dec 26, 2008
Recommend
CEO approval
Business Outlook

Pros

The banking technology is the best

Cons

The sales culture and the bonus structure create a climate of employee sabotage among peers with a management structure unable to push back on national compensation processes.

Viewing 54166 - 54168 of 54,412 Reviews

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