Wells Fargo Placement Result Thoughts?
For those who went through the placement process this year - what are your thoughts? Where did you get placed?
And if you aren't comfortable with specifics - then what's your location? NY, SF, LA, CT?
I got my fifth choice - TMT NC. I wish I got a New York/San Fran group, and I wish I made all my top groups NY/SF, but I went with the safe option and with the groups I connected with the best.
It went shit. Over 10 hours of calls for my top groups and got one in the second list we had to make.
How the hell did that happen? What were your top 10?
Industrials, M&A, FIG, and Healthcare for both NYC and Charlotte. I literally had calls with 85%-95% of the junior and senior bankers for M&A and industrials. I really don’t know what went wrong for me to not even get any group on my first list.
I got my first choice! I cared more about group than location, but was hoping I would & did get placed in CLT.
I really connected with the people in the groups&locations I talked to. Didn't network with all the groups, but chose 5-7 to really network with over those few weeks.
Honestly, while it was less stressful than recruiting was, it was comparable to taking another 6hrs in classes based on all the calls and zooms. Wish this process happened in August/early September, and not started last week Sep when midterm season started. Definitely affected my grades for this semester, but was worth it (in some ways lol)
Do any of you all know what's gonna happen with housing? Do they give a housing stipend?? Or do they help us out with finding housing
We don't even know if it will be in person yet. But good question.
I'm furious. Whole family is based in NYC, got placed in NC. I'm grateful for having an internship but sadly interviews are not over for me as I want come back to NYC..
Did you at least get your top group?
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are u from sf or do u live in california
From California. I networked most heavily with the SF groups
Did anyone else get a group in their third tier lol
I haven't heard of anyone having something like that happen. What was your experience?
Anyone want to create a group chat
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Roughly how many SAs does WFS hire? I'm curious why this process is so arduous.
For IB I saw about 70-85 during the placement process meetings
Are you including only the product and coverage groups, or all the groups in the corporate & investment banking division like ABF, public finance, CRE securitization. I got one of the SA positions in one of the latter groups I mentioned so I had no choices for placement or location but automatically got NY
Its because only about 40-45% of the spots available are in NY
I got my top choice for NY group, but I think it was because I tried to target that one group in particular and they gave me feedback as to how it was looking on their end. Definitely stressful in terms of it being a blind process but I think it worked out okay in my case.
What do you mean asked for feedback?
Gave communication on number of intakes ect.
https://groupme.com/join_group/63953694/5EntPeMj
it isnt letting me join, you should make a separate post!
I can't wrap my head around why this is happening. They are looking to place an emphasis on IBD, they should run a more attractive process that leaves as many people as possible happy. I'm wondering what the case would be if we spoke to all ~85 or ~30 so we can get a better idea of the outcome.
It doesn't seem to be this way for MBA recruiting there, but probably because the class is like 1/3 the size.
I feel like it's because people with better name offers will almost always go with that option and there are countless people who would jump at the WF offer. So, they can really do whatever they want since they can't really upsell too much and there are plenty of otherwise qualified candidates.
They recruit super early (especially diversity), and so a lot of people don't even have a chance to interview with other firms. So a lot of people who want to play it safe have to stick to the Wells Fargo offer, and since they're bounded by WF so early, they're kind of bait and switch about it (since they know the kids won't have another choice, and NC needs to be filled up).
I do wonder how much the % is in SF and NY and how difficult it really is to get into those locations though.
Deff hear you. I think it would help their brand and recruiting prowess to have a more structured process. The interesting thing is I bet they can manage to get things sorted a bit. I'm guessing they can place every single person who wants CLT in CLT which takes care of that and then come up with some better ideas for NY/CA split. They just got a new office in NYC, there must be room there. They really need to minimize people ending up in states they don't want. I understand groups are hard, but they should remedy the state thing for their own interests.
edit
Did you guys get welcome emails from your group yet? The placement email said the groups would followup but haven't heard anything since...
Yes. Prob just wait a bit more
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