Wells Fargo

  www.wellsfargo.com
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Overall.... Great Benefits... Lots of Stress

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Career Opportunities
Former Employee - Anonymous Employee  in  San Bernardino, CA (US)
Former Employee - Anonymous Employee in San Bernardino, CA (US)

Pros

WFHM had a very structured system in place for every aspect of the CSR role. The reps are expected to be on their phones for the duration of the workday with the exception of scheduled breaks, lunch, team meetings or coaching sessions. There are sales goals that have to be met as a part of the job requirements. It can become mundane.

Cons

The sales quotas can be hard to meet when the products offered are not applicable to the borrowers that are targeted for the product.

Advice to ManagementAdvice

Eliminate the sales goals as a part of the CSR role.

Other reviews for Wells Fargo

  1. 1 person found this helpful  

    Overall Good Company

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Personal Banker I
    Current Employee - Personal Banker I

    Pros

    decent pay
    good people to work with
    incentives are there
    great benefits
    good amount of PTO
    dont have to work long hours
    great training program

    Cons

    Too sales based
    unrealistic sales goals
    trying to sell to existing customers too much
    need to focus on service and the sales should come then

    Advice to ManagementAdvice

    figure out a new way to get sales or reduce the amount expected
    focus more on serving existing customers instead of selling to them

    Recommends
    Approves of CEO
  2. 7 people found this helpful  

    Solution Slinger, widget wonder.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Licensed Personal Banker  in  Oakland, CA (US)
    Former Employee - Licensed Personal Banker in Oakland, CA (US)

    Pros

    401K was pretty good, that was about it.

    Cons

    The problem with Wells Fargo retail bank is the whole idea of "two and ten." I get sales and I'm all for being aggressive but the fact of the matter is, that banking is a relationship based business and selling a bunch of "widgets" doesn't work. Based in an affluent neighborhood getting 2 checking accounts per day can be next to impossible. Really we have come to the point where we have to sell "internet checking accounts," "travel checking accounts," and don't forget the "bill pay account" None of these lead to customer loyalty which is ultimately what banking is about. The fact of the matter is that Wealthy clients will stay with a bank based on customer service and rates, not having eight products which include online banking, bill pay and a debit card. I have seen more money flow out of the bank due to low rates than I have seen new accounts open. Management encourages poor behavior by rewarding those who game the system. The only problem with this is that I wonder how much money this bank loses due to the fact that checking accounts get opened and closed on a quarterly basis. If someone loses a check, guess what that's a new account even though every banker knows they transfer account. Having trouble with overdrafts. Let's close out your old account and open up a new one so we can start with a clean slate. Lost a debit card, let's close it out and order a new one, solution. You're in college and and your broke, have you thought about opening up a bill pay account. Never mind that you can't keep track of one let's open up another one, that we'll close out once you overdraft it. Have a relative who lives in another country that you barely know. Lets set up an express send, Solution! Have a savings account that earns a lower rate, well let's close that one out and open up a higher earning savings account, Solution. Oh and don't forget to jump into January, where you'll absolutely have to annoy you're friends and family by opening up 10 accounts on January 1st, but it's cool you'll close them out at the start of the quarter and they'll never receive fees. Management we'll love you, throw you a party and the company as a whole will lose money as these new accounts will never be used, what a waste of paper, checks, and data storage space. Oh and by the way let's hire more bankers than tellers at higher paying salaries even though traffic is non existent.

    P.S. How are you tracking.......?

    Advice to ManagementAdvice

    If I were a shareholder of this company I would demand accountability of this companies management to see how much money is wasted on bankers trying to achieve solutions. Your branches are overstaffed and your sales goals are unrealistic.

    Doesn't Recommend
    Disapproves of CEO
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