Thought I’d kick off a thread for incoming summer analysts that just started the placement process. What are top groups? Who holds the pen on models? What groups should be avoided? Etc… Make sure to state which office when talking about a group.
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Based on the most helpful WSO content, here’s what you need to know about Wells Fargo group placement:
Top Groups: Historically, the normal IBD groups (e.g., Coverage, M&A, Sponsors) in NYC or SF are the most sought after due to better deal flow, culture, and exit opportunities. However, these spots are highly competitive, and many interns end up in Charlotte, which houses a significant portion of Wells Fargo's positions (around 70%+).
Modeling Work: Groups like M&A and Sponsors are more likely to hold the pen on models, as they are more technical in nature. Capital markets groups (e.g., LevFin, DCM, ECM) may involve less modeling and more market-focused work.
Groups to Avoid: Syndicated finance, asset-backed finance, and public finance in Charlotte are often mentioned as less desirable due to limited exit opportunities and less traditional investment banking work. Additionally, the group placement process can be unpredictable, with HR playing a heavy role, and many interns not getting their top preferences.
Office Locations: NYC and SF are the most preferred, but Charlotte dominates the placement process. Switching from Charlotte to NYC or SF for full-time roles is reportedly very difficult, as those spots are limited and highly competitive.
If you're starting the placement process, prioritize groups and locations that align with your career goals, but be prepared for the possibility of being placed in Charlotte. For more insights, check out the detailed discussions on WSO forums like this one: https://www.wallstreetoasis.com/forum/investment-banking/a-warning-on-t…</a">Wells Fargo Group Placement.
Sources: A Warning on the Wells Fargo Securities Investment Banking Summer Analyst Program, A Warning on the Wells Fargo Securities Investment Banking Summer Analyst Program, WF Summer 2018 IB Accelerated Interview, Wells Fargo Summer 2020, Wells Fargo IB internship group placement
I had similar questions. Wondering about people's experience so far.
Bump.
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