Wells Fargo CRE
Curious to know if anyone has insights into total comp for wells fargo CRE. Specifically REB, CLI, or MFC. Want to understand base + bonus for VP and Director level. Thanks.
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Based on the most helpful WSO content, here’s a breakdown of compensation insights for Wells Fargo's Commercial Real Estate (CRE) roles, particularly for VP and Director levels:
Vice President (VP):
Director:
These figures can vary depending on the specific group (e.g., REB, CLI, or MFC), location, and individual/team performance. Wells Fargo is known for being competitive in the CRE space, but bonuses may not be as aggressive as some other top-tier investment banks.
Sources: Can someone clear up the confusion on Wells Fargo and Eastdil, Wells Fargo FAP - Charlotte Training Group, Wells Fargo Summer Financial Analyst Program - Commercial Real Estate, What is the next big threat to CRE?, https://www.wallstreetoasis.com/forum/real-estate/diversity-in-cre?customgpt=1
Does anyone know what associate pay looks like in the REB group? They have a base range up to $150k but I’m worried it’s a small bonus like 10-15%.
You likely won’t get more than 20-30% at the absolute most. And they won’t offer that position at $150k, they usually find kids coming out of rotational programs and start them around $115-125k.
Be wary of that hiring manager. She's a psycho.
lol the director this role will report to is a psycho? I thought CRE bankers were pretty chill
You don't report to bankers, you report to a credit portfolio management manager. That position is who I am talking about.
I was broadly referring to CRE lenders as bankers. I thought CRE lending was chill? N out enough money to be a psycho imho
Yeah you are right, it is chill and REB is one of the more chill CRE groups. Didn't know if you were referencing the new associate PM position or not.
More broadly, WF has too much fat in middle management and the role's particular hiring manager takes her MD title too far when she only has one direct report.
That’s the one I’m looking at. Does she work the one direct report to the bone? I’m cool with 45-55 hours but anything more is not worth the comp they’re paying for that role
It's not the work. Let's just say cultural differences and it happens that her report shares the same culture.
It's the ones on the "outside" that feel this way. Talking down/correcting actions of other PMs when she's got nothing to do with our portfolio. Trying to lead juniors that report to other PMs. Borderline questionable comments to those outside of her culture, framed as "that's just how I am/we are".
I don't mean to be insensitive, it's just how I see her actions.
How about the healthcare REB associate role they just posted?
Better manager, bigger team. I don't know the manager personally but have heard good things about her. I'm sure the team is a good one too.
Super helpful thanks. I saw someone else noted the bonus range is 20-30% and base is $125k-145k for associates.
Seems a bit low versus lifeco lending so do you know how that pay scales up for a VP promotion? If it’s a big jump, I could see it playing out better than a lifeco role
That's the thing with WF. From the outside, you will be offered a good base salary. But once you are inside, meaningful pay bumps are hard to come by. If you left and applied for a VP role externally, you would be offered more than someone internally applying. It's a huge company so you need to play the corporate game too. Your political capital becomes the main basis for pay bumps, promotions, performance reviews, etc.
They also ensure your title is fairly compensated across all markets, regardless if it's NY or Charlotte. If you make $150k but your equivalent in NC makes $125k, they will prioritize their pay bump to "market" instead of yours. For example, I received no pay bump from 25 to 26 because I was brought in on the highest range of my title's salary at the time.
It's lame but it is what it is. Like I said, the base pay is solid, bonuses could be better but you could also receive nothing, so can't complain either. At the end of the day, the PM position at WF is a good place to be for minimal stress, WLB, and actually seeing real deals.
Appreciate your responses. This is exactly what makes this forum so great.
Would you expect a promoted VP1 to get to $175k base and $50k bonus?
Reason I ask is bc the plan would be to join as a sr associate and play the “long” game for a VP role that pays $225k+ all-in.
Crazy how much more securitization and syndications pays at WF. Any idea if they work substantially more hours?
I would expect an internally promoted VP to get around $160-175k as base, but again depends on where you joined as an associate. If you're at the top of the band for associates (which could be equal to or more than some VPs), your base jump to VP may not be as material as you would like. Could take multiple years to reach that $175k base if your peers are not in the same pay range. Unfortunately a lot of factors outside your control for pay bumps, with individual and team performance being around the top, but also one of many.
On bonuses, I also think $50k could be fair for a VP, but also same story as base pay. If your first year end bonus is $30k and you don't get promoted, the next year's bonus is likely to be no more than the same $30k (unless you exponentially outperformed your entire team and title across the division). That said, I don't know how bonuses "reset" once you get promoted to VP and above.
As for RESCM and RESF, I know RESCM teams can work brutal hours - spoke to a guy on the large loan/SASB team who said they routinely work until 2-3am. RESF I'm not too sure but it seems pretty cushy and not a lot of brain damage. All in comp is definitely better in these groups, but also limited seats and highly competitive internally and externally.
lol the director this role will report to is a psycho? I thought CRE bankers were pretty chill
Anyone know what the RESCM securitization bonus is for analysts?
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