Wells Fargo Placement 2022
Can anyone who has gone through placement talk about their experiences? Eg. Targeting Charlotte vs NYC
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Went through it. AMA
How ass was it, really?
I’m one of the commenters from the other post. Had to make three lists of my top ten choices. The first list is what I want, second list is what I’m ok with, and third list is left overs. A group and the city is one choice (industrials in NYC and industrials in Charlotte were two different picks). I networked heavily for 2 different coverage groups and M&A for both NYC and Charlotte. I knew that getting NYC was going to be difficult so that’s why I networked those groups for both cities. My first list was something similar to this (1. M&A NYC 2. M&A Charlotte 3. FIG NYC 4. FIG Charlotte 5-10. were other coverage groups focused in NYC). They gave out a sheet with people to network with on the teams (juniors and seniors). I did the math, I had over 20 hours worth of networking calls in a span of a month. So to say I didn’t put in the effort would be an understatement. Placement day came around and I got a group in my second list that I had 0 networking calls with. It was a really frustrating situation because I put in the effort and didn’t get placed in any of the top 10 groups I wanted. Placement can be a huge gamble. Proximity to the city can play a huge role too, but I do know someone that went to NYU and got fucked over and got Charlotte. Like mentioned in the other threads, the groups see your placement and how you rank them. I’m super confident that politics play a role if you don’t rank them high enough, even though your first few picks might fall through. At the end of the day, I could have been unlucky or just shitty at networking. But y’all just need to be aware what youre getting into for placement. There is a lot of survivorship bias for those that say placement is fine. Those that probably got M&A or industrials probably had it as their top choices anyway.
Wdym by politics playing a role? Like behind the scenes workplace stuff? And sorry to hear that your placement process went awry. Are you still with Wells or are jumping ship to somewhere else?
In the sense of the way you have the group ranked can affect the way they view you.
Fr it seems like everyone in the comments of other threads either got completely fucked or had no problems at all. assuming you network, etc how likely is it really that you end up in a city/group that you didn’t want AT ALL?
To be fair responses may be exaggerated a little bit considering I would be pissed off if I got even my third top choice, you know what I mean?
A big factor that comes to play is the school you attend. Kids that go to target schools such as UVA/UNC/Davidson/Wake/W&L typically have no issue getting their top group and location since they have alumni to network with and vouch for them in basically every group across the bank. Oftentimes these alumni will even reach out to you and try to sell you on joining their group.
However, if you go to a school with a much smaller alumni base at WF, then it’s definitely an uphill battle. They definitely prioritize fit so I’d recommend pref groups based on fit rather than location. If you put a bunch of unrelated groups in NYC as your top choices for example, there’s a good chance you could get placed in one of your bottom groups in NYC. I’d recommend anyone going through the process to focus on the specific group they want to work in (ie TMT, Industrials, M&A, etc) regardless of location. Once you’ve done your internship they’re typically very supportive of location changes within the group.
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