Wells Fargo Analyst opportunities
Curious, which going to be the best path to take, and have the salaries and bonuses are for each. I believe the salary might be 110 across the board. Will not do community lending 
Any path you choose, it doesn’t matter. Wells Fargo is paradise
I work at Wells. If you know you wanna be in CRE for a while, I’d take either RESCM or PM Secured.
RESCM is capital markets and structuring heavy but I find the group pretty dope. PM will provide the broadest exposure as an underwriter with you working on cool deals with high profile sponsors.
Personally I’d take RESCM but both roles will likely provide a lot of deal flow.
Do you know how pay and bonuses vary? Also, I just saw for markets. I need my SIE, 62, 79. I do not have any of those and I don’t think they would even give me the job unless I did. Maybe they would let me interview and if I blew it out of the water they would give me it. I just said I need to get those by the start date.
also not sure how long you’ve been there but is there a training program before the initial start date for like a month in Chicago or something?
In prior years, all program analysts across each placement group received the same base + bonus, but I don't know if that has changed. As for getting your licenses, usually firms would hire you and give you 60-90 days to get them, so I would clarify that if possible.
Yes, there will be a training program for several weeks either in Chicago or Charlotte, may be the latter but again, I am not too familiar with how they run the program these days.
Seconding this comment. Have heard RESCM is legit,ESPECIALLY out of the NY office. That office is very well respected.
Others less so but still super solid.
Very familiar with RESCM so adding more color:
Securitization and Large Loan teams exclusively sit in NYC, with a handful of senior people being in South Florida. Either of these teams are very well known in the industry with Wells Fargo consistently leading SASB league tables and CMBS as a whole. You’ll get great exposure to top tier sponsors and very sexy deals in large loan. People on this team often jump over to the client side to work for firms like BX or top tier lending shops. IMO the securitization side is kind of removed from the real estate itself, with the originations teams doing all the underwriting work. Securitization is just focused on executing in the bond market. Both of these groups work pretty late hours and have more of an IB style of culture.
Focusing on conduit, NYC and Charlotte are the worst offices to be in, being carried by the two west coast offices. NYC just has constant turnover and gets smacked around by other banks. Know morale is low on that team given 2/3 senior bankers leaving this year and deal flow has been abysmal. Good group of guys on that team but it’s tough to compete with the incumbent players. Exit ops have been good here though with some recent analysts going to mega funds. Culture is chill, with most people leaving at 5PM.
Charlotte has downsized quite a bit in the past couple of years and they had a bunch of shitty originators who have since been cut.
LA and Dallas are the places you want to be in conduit doing most of the banks volume. Originators in these offices are really good at what they do and also cover SASBs originated out the west coast and sunbelt. Exit ops here are good but there isn’t a ton of turnover. Morale is fairly high here and analysts and associates work hard albeit not as much as large loan and securitization.
RESCM has best comp. They must have done some restructuring recently. It looks like PM Commercial and Industrial is now the old Real Estate Banking? If so that’s also not a bad option. Just your traditional CRE lender path, while RESCM is CMBS. Looks like PM Secured is now the old REIT finance group which is super sleepy and slow - would not do this or CLI.
Believe you flipped PM Secured and PM C&I
PM Secured is the REB group
The restructure is relatively recent.
PM - Secured is going to be the most traditional CRE lending path.
PM - C&I is essentially RE Corporate Banking.
RESCM is a great path but also worth noting, the sweatiest of the bunch. Exits are probably worth it though.
Anyone have any insights into the RESCM group in NYC? Curious what exit opps and hours look like
Does everyone get these emails or only candidates they move forward with?
Did you get the email? I would assume it’s anyone who did their first round would get it.
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