2018 Wells Fargo Securities Summer Analyst Program

Wells Fargo IB / sales & trading internship applications are only open Aug 25, 2017 and I was wondering what application materials you need -- resume & cover letter? Anything else?

I'm a rising sophomore so I'm just getting started and would love to hear about any internship experiences you guys have had at Wells Fargo, as well as what the hiring process was like (how long did it take to hear back for interviews, what questions were asked, behavioral and/or technical and the balance between the two, etc).

 

From my post here: https://www.wallstreetoasis.com/forums/a-warning-on-the-wells-fargo-sec…

As a former "investment banking" summer analyst at Wells Fargo Securities a couple years ago, I wanted to give all of y'all a heads up before you sign an offer. The way that Wells did group placement was pretty ass back in my day (and I'm pretty sure they haven't changed it).

In terms of group placement after signing the offer, Wells combines their normal IBD groups (coverage, M&A, Sponsors, etc.), their capital markets groups (LevFin, DCM, ECM, Syndications), public finance, and their asset backed finance (structured finance/lending) groups into the same "investment banking" recruiting pipeline.

The real kicker is how Wells does location. Instead of applying, interviewing, and getting an offer for a specific city like every other bank in the world, Wells places you into a city AFTER you sign the offer. And what they don't tell you until you find out for yourselves is that around 70%+ of positions are in Charlotte, not New York City or San Francisco.

And while there is a group matching process, HR plays a heavy role and almost everyone preferences normal IBD groups in NYC, SF, or LA as their top choice so you can imagine how much of a shitshow that becomes. So after you sign the offer, there's a very likely (in fact more than likely) chance that you could get placed in something like syndicated finance or asset backed finance in Charlotte, especially with returning sophomore diversity interns taking up a lot of the NYC/SF spots before group placement for junior interns even begins.

There is the possibility of switching groups between your SA and FT stint, however there tend to be very few or no spots in NYC or SF FT and everyone in Charlotte tries to switch out of cities so people successfully doing it are few and far between.

There's a reason they do recruiting this way since they can't get a whole lot of good talent to come to Charlotte or work in their shitter groups without being super bait and switchy. I mean it is Wells Fargo, you shouldn't be surprised at this point if they're doing shady shit.

So unless you're super open to the idea of ending up working in Charlotte and syndicating loans or lending against mortgages despite signing an "investment banking" offer letter, I'd strongly encourage you to go through the recruiting process at other banks before locking yourself into Wells too early.

 

Wells Fargo doesn't select any rising sophomores from the application that opens on the 25th. All sophomore FO interns are selected from their diversity summit which is only for URM like most of the other banks.

However, you can intern in their MO/BO roles as a sophomore by being accepted to their sophomore leadership program which is next spring.

 
Best Response

My WFS knowledge is dated so honestly I have no business ranking these, but here's what I would do:

1) ABF - best reputation, most recognizable outside of the WFS platform. 2) Credit S&T - thinking this will be most applicable for transitioning to IB and positioning yourself for LevFin, this could also be #1, I'll let others weigh in. 3) Tossup between Depository Strategies, Rates and Commodities and Municipals based on what IB groups you might be interested in. Take DS if you might want to do FIG IB (financial institutions), Rates and Commodities for O&G IB (oil and gas), and Munis if you want to do PubFin (public finance) for some reason.

Hope this helps!

 

I got an employee referral. Got an email yesterday with a survey for preferences: rank cities (i chose NY first, NC second, SF third), select which track/group (I chose IB), ect.

End of the email says: "If you are selected for a first round interview, you will be notified via email in the next two weeks to schedule a phone interview. Should you be selected to move forward to final round interviews, they will take place in Charlotte, NC on December 11-12."

 

I got an employee referral. Got an email yesterday with a survey for preferences: rank cities (i chose NY first, NC second, SF third), select which track/group (I chose IB), ect.

End of the email says: "If you are selected for a first round interview, you will be notified via email in the next two weeks to schedule a phone interview. Should you be selected to move forward to final round interviews, they will take place in Charlotte, NC on December 11-12."

 

Sorry to be the bearer of bad news but the application was only open for one day. They did it that way so that only people with referrals would apply, as they didn't publicize the date. Super lame, I know. If however you are at a core school for Wells Fargo then you'll have to get in touch with the HR contact for your school.

 

The more I read this thread the more I'm convinced that there is no central recruiting timeline Wells is following, at all, even though my employee referrals said there would be. Freakin' HR...

 
fishtail90:

The more I read this thread the more I'm convinced that there is no central recruiting timeline Wells is following, at all, even though my employee referrals said there would be. Freakin' HR...

It seems like that because my application was for full-time. I even called the HR lady on my email, and she confirmed that they are recruiting for full-time right now.

 

Hello I'm a junior from a non-target school. I had my phone interview on 11/14 it's was half why IB and Wells Fargo and the other half technical. Be sure to know how the three financial statements connect. Just heard back that I got the second round in Charlotte Dec 11 and 12.

 

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