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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

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Current Employee - Operations Analyst III in Charlotte, NC (US)
Current Employee - Operations Analyst III in Charlotte, NC (US)

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

Recommends
Positive Outlook
No opinion of CEO
Recommends
Positive Outlook
No opinion of CEO

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.

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  1. Helpful (1)

    Regional Private Banker Minneapolis, MN

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Regional Private Banker in Minneapolis, MN (US)
    Former Employee - Regional Private Banker in Minneapolis, MN (US)

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

    Recommends
    Neutral Outlook
    Approves of CEO
    Recommends
    Neutral Outlook
    Approves of CEO

    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.

  2. Helpful (2)

    Financial Analyst Program

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Analyst Program in Salt Lake City, UT (US)
    Current Employee - Financial Analyst Program in Salt Lake City, UT (US)

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

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Professional environment that encourages professional growth and progression. An environment of mentorship and learning.

    Cons

    Don't think there are any real good cons to list.

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

See Most Recent

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