Wells Fargo 2021 Rep
Hi guys,
I have a 2022 SA offer from WF IBD and wanted to hear people's genuine thoughts about their reputation. I know Wells gets shit-talked constantly on this site (mostly by prospects), so I'm trying to gauge what their actual rep is. Mainly, from the perspective of trying to lateral after an SA stint or even attempting to accelerate interviews during the SA recruiting cycle. Would I get laughed out of the room for even attempting to leverage Wells Fargo for better firms (i.e. BB's like CS, Barclays, Citi, or UBS)? Thanks in advance for the non-obnoxious comments.
it’s not called ‘lateral’ if you aim for CS/Barclays/DB/UBS, only if it’s GS/MS
“Associate 1 in S&T”
If WF is so shit, I don’t understand why so many kids from target talk about WF’s interview process so much on WSO, don’t get confused by them shit talkers
Because they cant even land an offer
If you have a close contact at one of those banks (someone who clearly stated they would push for you), then it doesn't hurt to reach out and mention you have an offer. Worse case, they say no. During my recruitment, everyone I spoke with at wells was very personable and helpful. Great people there. It's just an internship, and most importantly, you broke in. Congrats!
Thanks man, it means a lot!
From an outsider perspective (at a MM) I think they’re getting better. Seem to be placing more emphasis on leveraging the BS to win mandates and gain earlier connectivity. In my space at least, I’ve seen them in the active bookrunner spot or at worst passive (no co-managed equity). M&A doing more of too. Obviously huge debt practice already. Still not GS/MS/JPM but trying to push into that Citi/Barclays/CS grouping. Breaking out IB in their financials recently shows they’re putting emphasis on it and willing to be judged by that performance. Newish CEO is a former JPM guy so probably using them as a model to build after. Definitely some better places but also a lot of worse places to be. Pay BB comp too is my understanding.
On par with UBS/dB in your opinion?
Depends on what metrics you’re judging on. I’m bearish the European banks a bit just given they seem to flip flop on the US IB business a lot so take what I say with a grain of salt. That said, I think Wells is set up better long term for a career in banking. Even with the new focus, they seem to be looking to grow sustainably (I.e., not hire a ton and maybe have to fire). Post asset cap removal, they should be able to grow faster too.
From a pure exit opps standpoint, UBS/DB may be better positioned right now as it seems to take a while for rep to catch up. 3 years from now though that may change if Wells can continue on their growth trajectory. I’m probably more bearish on DB than UBS as I think they are still probably bleeding people.
Currently work here. We have had a lot of first years leave...
Any reasons why they left(assume they worked in NC office)? and what are their exits?
Mix of NC/NY office. Other banks
OP here. Mind if I PM you?
Why do they leave and what have their exits been?
quick linkedin search shows Blackstone, Evercore, intermediate capital group, strategy @ ATT, jpm, bofa, KKR, GI partners, lazard, UBS, sixth street, lockheed martin
Which office were you in and why did they leave?
Says the WF ECM analyst, hahaha.
By what metric(s) is WF easily better than DB and CS in recent years?
If you're comparing offer to offer you're high if you take Wells over DB or CS. If you're debating a lateral jump from WF to CS/DB or staying, then maybe you stay. Mostly because you could definitely aim higher in a lateral move, and you basically only get one of those.
Any info on their HG DCM group in Charlotte? Culture, etc.
bump
anyone know sa 2022 timeline
Applications were due mid June (IBD). Interviews should be starting this week or next week.
yup i applied, however, i never recieved any updates/surveys, so you think i still have a chance?
Like others have said before, it’s not too bad of a place to be in, but there are many better options. Coverage teams spend so much time pitching and most MDs (with few exceptions) are pretty much out of the loop. Majority of the fees come from random non-left debt deals, with random MM M&A deals here and there.
My two cents: you can get a much better experience with roughly similar hours elsewhere, but if no other options then you can always lateral after a year. Just look at their first year NY Industrials class, basically everyone took off with pretty great lateral placements.
Where else can you find better experience with similar hours?
Does anyone have any insights into what the top groups are in terms of experience? I've heard that Industrials, Charlotte E&P, and REGAL were pretty solid and Levfin is overrated.
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