Q&A: Wells Fargo Financial Analyst Program for Commercial Banking

Here is my overdue write up on Wells’ FAP and thoughts on the process/ program. This is most applicable to Commercial Banking or CRE divisions.

wells fargo commercial financial analyst program

I applied with less than 1-year experience, got the offer, and ultimately declined - - they countered w/ better corporate title, base, sign-on, and bonus % increase.

Applying to the Financial Analyst Program

You either apply to a specific location (i.e. SF/LA/NYC Office) or to the general program (normal recruiting).

1. Site Specific: These opportunities pop up sporadically but if you miss the 1 day to submit your application for normal recruiting or want to be 100% sure you get the office of your choice, this is the only way. Also, you spend ~3 full years with these people and they will typically invest more in you.
2. General Program: Those that apply to the program through normal recruiting will go to a centralized underwriting office for 1 year and be literally immersed in deals/ credit. Typically this is Phoenix for West Coasters. Wells’ promises the “office of your choice” after this year is over – this is B.S. unless you have this stipulation in writing. Placement is a highly political process.

Program Overview for Wells Fargo FAP

1. Year 1: Take 2nd semesters of Fin. and Management Accounting and go to 1st year, 1 week Credit Camp in SF or Charlotte. After Site specifics stay at their offices and Centralized analyst group gets placed - - this can be anywhere from NYC to Visalia, CA (Google if you don’t understand the point I’m illustrating).
2. Year 2: 2nd year, 2nd week of Credit Camp.
3. Year 3: Last year; 3rd year, 3rd week of Credit Camp. Hopefully you have demonstrated some skills and talent otherwise you have just churned and burned yourself.

Exit Opportunities for Wells Fargo

When it comes to this program, you are either in or you're out.

1. CMTP: 6 month intensive credit training in SF. Your Home Office must sponsor you. The intent is to bring you back as a Relationship Manager (Sales role). Again, highly political process. They say it’s for the high achievers of each class which is true BUT, unless it’s written in your offer or you know someone, don’t bet your life on it.
2. Portfolio Manager/ Credit Analyst: Manage a portfolio of credits w/ lower sales goals or analyze credits - - the latter is their worst case scenario.
3. Out.

What Can I Expect For Compensation at Wells Fargo?

Experienced: 60-70K Base, 0-15K Sign-On, and 8-10% FYE Bonus Non: Experienced 60K Base, 0-5K Sign-On, and 8% FYE Bonus Feel free to ask me anything about Wells, the program, or commercial banking as a whole. I've seen both sides of CB - credit and sales, however I should point out that Wells isn't bifurcated in this regard. Learn more about the program below.

You can learn more about Wells Fargo on the Wall Street Oasis Company Database.

Read More About Commercial Banking on WSO

• Commercial Banking SVP Ask Me Anything (Q&A)
• Wells Fargo Summer Financial Analyst Program - Commercial Real Estate
• Wells Fargo Commercial And Corporate Lending Analyst- Financial Analyst Program

Decided to Pursue a Wall Street Career? Learn How to Network like a Master.

Inside the WSO Finance networking guide, you'll get a comprehensive, all-inclusive roadmap for maximizing your networking efforts (and minimizing embarrassing blunders). This info-rich book is packed with 71 pages of detailed strategies to help you get the most of your networking, including cold emailing templates, questions to ask in interviews, and action steps for success in navigating the Wall Street networking process.

Networking Guide