Wells Fargo Summer 2020
I see everyone else posting this so I figured I’d throw this question out there.
Based on the size of Wells Fargo’s intern class, do you think they’re likely to give out FT offers? We got an update saying we’d get an update in a few weeks but nothing since.
bump. or just any news from WF in general that anyone has regarding deal flow, industry focus this next year, groups about to get fucked, etc.
WF IB analyst, deal flow is solid now
What industry do you cover? Or are you in a product group?
From what I’ve seen, WF has a pretty lean class. Was told by some people at the firm that number of spots for summer analysts equals the number of spots for full time. I’m purely speculating, but I would bet my money that they follow Citi on extending full time offers.
worked in the training last year. can confirm they hire interns on basis of full time opportunities. given the intern performs to standards
Bump
The group that I'm joining had 5 interns last summer, 2 didn't end up working there FT (one didn't take the return, other didn't get offered one) and they hired 2 people to replace those spots so 100% seems like SA = spots for FT. idk what that'll mean for us but i guess we'll see in a bit
what sort of mistakes did the non-offered intern make, interning at wells this summer and curious
bump. still waiting to hear from them.
Majority of groups last summer had high offer rates (80%+). Main outlier was Asset Back Finance which was low
why asset backed finance? any ideas?
Maybe they just got a bad group of people
Heard that their offer rate was ~50% mainly because some interns performed really poorly. Supposedly they had spots available for almost everyone though.
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bump
I went into linkedin and counted all the Analyst 1s in Wells across all locations. There are more summer analysts this summer than analysts (trust me, i've found all of them)
this is the most hardo thing i've ever seen in my entire life
An HR person confirmed that no decision was currently made prior to the email, which kinda says nothing lol but maybe with other banks making decisions we'll see something soon
hopefully...
following
I just want an update - I still need to find housing for next summer and the delays in communication are not doing me any good.
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I'm interning in M&A in Charlotte, hoping they give FT since the guys I met are chill
lol m&a is a sweatshop. worst culture at the bank... anything but chill
coming from another prospect. yeah the work sucks but the people I vibed with them during placements
Just got the email regarding the update. Internship moved to fully online from July 6th to August 7th. full financial offer still being given. more information from program managers to come.
Think we will paid from our original start date or only for the new timeline?
Not sure but it sounds like we still get the full total amount, idk what the timing of the payments would be though
They said they would honor the financial agreements in initial offer letter so I’m assuming we get paid for original length of internship
same here. we’ll see how the shortened/different type of internship goes. was still hoping for the citi-type Hail Mary but knew it wasn’t going to happen.
Yeah little bit unfortunate they didn't mention anything about return offers
I bet they will talk about that in coming emails
following
I'm waiting for their update and final offer let's see hopefully they do the same thing as Citi
Damn straight, WF we have faith in you don't let us down pls we love you
Did you not see the previous email they sent about going virtual? It really wasn’t that clear if we are even getting full pay like other banks. What makes you think they would extend full time offers?
The email said that they would “honor the terms and financial agreements as indicated in the original offer.” Sounds to me like we’re getting paid for june and July....
Wells Fargo reputation is struggling I hope they take the right action to prove to everyone that they changed and will keep their promises
what promise lmao
just spoke to a recruiter at Wells. Summer FAPs will be paid for the full 10 weeks despite the change to a 5 week program.
so the first 5 weeks is just hourly pay x 40 hours a week I’m assuming?
yes, but we will not be paid till July when we start. The 5 weeks we lost will be paid as a sign on bonus when we start.
Does anyone in IB know if we are getting paid for the full 10 weeks?
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