2018 Wells Fargo Securities Summer Analyst Program

Rank: Chimp | 8

Wells Fargo IB / sales & trading internship applications are only open Aug 25, 2017 and I was wondering what application materials you need -- resume & cover letter? Anything else?

I'm a rising sophomore so I'm just getting started and would love to hear about any internship experiences you guys have had at Wells Fargo, as well as what the hiring process was like (how long did it take to hear back for interviews, what questions were asked, behavioral and/or technical and the balance between the two, etc).

Comments (68)

 
8/21/17

From my post here: https://www.wallstreetoasis.com/forums/a-warning-o...
As a former "investment banking" summer analyst at Wells Fargo Securities a couple years ago, I wanted to give all of y'all a heads up before you sign an offer. The way that Wells did group placement was pretty ass back in my day (and I'm pretty sure they haven't changed it).

In terms of group placement after signing the offer, Wells combines their normal IBD groups (coverage, M&A, Sponsors, etc.), their capital markets groups (LevFin, DCM, ECM, Syndications), public finance, and their asset backed finance (structured finance/lending) groups into the same "investment banking" recruiting pipeline.

The real kicker is how Wells does location. Instead of applying, interviewing, and getting an offer for a specific city like every other bank in the world, Wells places you into a city AFTER you sign the offer. And what they don't tell you until you find out for yourselves is that around 70%+ of positions are in Charlotte, not New York City or San Francisco.

And while there is a group matching process, HR plays a heavy role and almost everyone preferences normal IBD groups in NYC, SF, or LA as their top choice so you can imagine how much of a shitshow that becomes. So after you sign the offer, there's a very likely (in fact more than likely) chance that you could get placed in something like syndicated finance or asset backed finance in Charlotte, especially with returning sophomore diversity interns taking up a lot of the NYC/SF spots before group placement for junior interns even begins.

There is the possibility of switching groups between your SA and FT stint, however there tend to be very few or no spots in NYC or SF FT and everyone in Charlotte tries to switch out of cities so people successfully doing it are few and far between.

There's a reason they do recruiting this way since they can't get a whole lot of good talent to come to Charlotte or work in their shitter groups without being super bait and switchy. I mean it is Wells Fargo, you shouldn't be surprised at this point if they're doing shady shit.

So unless you're super open to the idea of ending up working in Charlotte and syndicating loans or lending against mortgages despite signing an "investment banking" offer letter, I'd strongly encourage you to go through the recruiting process at other banks before locking yourself into Wells too early.

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8/21/17

Wells Fargo doesn't select any rising sophomores from the application that opens on the 25th. All sophomore FO interns are selected from their diversity summit which is only for URM like most of the other banks.

However, you can intern in their MO/BO roles as a sophomore by being accepted to their sophomore leadership program which is next spring.

 
 
8/21/17

My WFS knowledge is dated so honestly I have no business ranking these, but here's what I would do:

1) ABF - best reputation, most recognizable outside of the WFS platform.
2) Credit S&T - thinking this will be most applicable for transitioning to IB and positioning yourself for LevFin, this could also be #1, I'll let others weigh in.
3) Tossup between Depository Strategies, Rates and Commodities and Municipals based on what IB groups you might be interested in. Take DS if you might want to do FIG IB (financial institutions), Rates and Commodities for O&G IB (oil and gas), and Munis if you want to do PubFin (public finance) for some reason.

Hope this helps!

 
8/21/17

Thanks for your response. I was thinking the same for ABF and Credit S&T. But I was unsure between Munis and FX. Munis because of Pub Fin and FX is something that seems interesting.

 
 
8/21/17

OCR is like in january. Is this through online system?

Pennies from JcPenny

 
8/21/17

The resume drop through my OCR was a month ago, and it said to apply through the website on October 7th.

 
8/21/17

Ya I applied on the 29th. Are you from a "non-core" school as it pertains to Wells Fargo?

 
8/21/17

Yes, I got an employee referral from an alumni. I think we should hear back this week...hopefully.

 
8/21/17

Okay cool we're in the exact same situation. Hopefully indeed.

 
8/21/17

so the october 29th application was specifically for non-targets?

 
8/21/17
 
8/21/17

I got an employee referral. Got an email yesterday with a survey for preferences: rank cities (i chose NY first, NC second, SF third), select which track/group (I chose IB), ect.

End of the email says:
"If you are selected for a first round interview, you will be notified via email in the next two weeks to schedule a phone interview. Should you be selected to move forward to final round interviews, they will take place in Charlotte, NC on December 11-12."

 
8/21/17

Thanks. Got the same thing.

 
8/21/17

I got an employee referral. Got an email yesterday with a survey for preferences: rank cities (i chose NY first, NC second, SF third), select which track/group (I chose IB), ect.

End of the email says:
"If you are selected for a first round interview, you will be notified via email in the next two weeks to schedule a phone interview. Should you be selected to move forward to final round interviews, they will take place in Charlotte, NC on December 11-12."

 
8/21/17

Can you guys post a link as to where you submitted your resumes for Wells Fargo? I know im a little late but i havent been able to find it anywhere.

 
8/21/17

Can you guys post a link as to where you submitted your resumes for Wells Fargo? I know im a little late but i havent been able to find it anywhere.

 
8/21/17

Sorry to be the bearer of bad news but the application was only open for one day. They did it that way so that only people with referrals would apply, as they didn't publicize the date. Super lame, I know. If however you are at a core school for Wells Fargo then you'll have to get in touch with the HR contact for your school.

 
8/21/17

I applied late September from a non-target school. Not sure if it was open for just one day, or just had a really early deadline.

 
8/21/17

Both application closed in mid-October but was also re-open for a 3 hour time frame after it was already closed if you had an employee referral

 
8/21/17

I go to a school with OCR and I just got an email this morning Thanking me for my interest in the company and reminding me to apply on the career website if I haven't already done so.

 
8/21/17

S&T and IB will be open to me tomorrow. I received an email telling me to apply tomorrow.

 
8/21/17

Shhhhh now all the peasants without referrals or at targets will know

 
8/21/17
Big Shot Hopeful:

Shhhhh now all the peasants without referrals or at targets will know

you're not scared of them are you?

 
8/21/17

I was being ironic. Of course not. Y'all non-target plebeians don't have a chance... Is that more the attitude you were hoping for?

 
8/21/17
Big Shot Hopeful:

I was being ironic. Of course not. Y'all non-target plebeians don't have a chance... Is that more the attitude you were hoping for?

hahaha.. okay then.

 
8/21/17

Phone interviews for some offices are happening this week

 
8/21/17

How is that possible? the applications were due by the end of the day today?

 
8/21/17

My friend got his for a regional office scheduled for this week, he goes to a core school for WF

 
8/21/17

hmmm I applied to a main office, do you know what their core schools are by any chance?

 
8/21/17

I believe Duke, UNC, Princeton, Yale, Penn are among the core schools. On the West Coast - UC Berkely, Claremont McK, USC and UCLA.

 
8/21/17

The more I read this thread the more I'm convinced that there is no central recruiting timeline Wells is following, at all, even though my employee referrals said there would be. Freakin' HR...

 
8/21/17
fishtail90:

The more I read this thread the more I'm convinced that there is no central recruiting timeline Wells is following, at all, even though my employee referrals said there would be. Freakin' HR...

It seems like that because my application was for full-time. I even called the HR lady on my email, and she confirmed that they are recruiting for full-time right now.

 
8/21/17

i thought it said we would hear back in 2 weeks? i got that email too but then the application for our school was just due on monday...

 
8/21/17

My email didn't have a specific timeframe on when I will hear back.

 
8/21/17

anyone here back yet?

 
8/21/17

Not a thing. Someone earlier in the thread said they had a friend who already scheduled an interview, but other than that I haven't heard of anyone else scheduling interviews.

 
8/21/17

Anyone here apply to the Sophomore program?

 
8/21/17

Anyone here apply to the Sophomore program?

 
8/21/17

Just got contacted to schedule a 1st round interview.

 
8/21/17

Also got a 1st round invite this afternoon. I'm at a non-core school for WF but got referred by alumni.

 
8/21/17

argh. hopefully i hear back soon. i had 2 referrals and i go to an ivy :P

 
8/21/17

Good friend of mine who is at a puny non-target told me he got the interview invite just yesterday

 
8/21/17

Anyone know what to expect from the phone interview?

 
8/21/17

Hello I'm a junior from a non-target school. I had my phone interview on 11/14 it's was half why IB and Wells Fargo and the other half technical. Be sure to know how the three financial statements connect. Just heard back that I got the second round in Charlotte Dec 11 and 12.

 
8/21/17

Hey congrats! Me too! see you there! Any idea what to expect? Also what division did you apply for?

 
8/21/17

My friend had a first round with them. He said technical questions were very basic. Why WF would be quite an important one to nail, I'd imagine.

 
8/21/17

Accepted my offer for the SA position yesterday (Houston). super day was a week ago. Hope this helps. Has anyone else accepted yet?

 
8/21/17

I thought these were all platform offers. How were you able to get a location specific offer so quickly?

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8/21/17

Haven't heard back yet

 
8/21/17

Thanks, I haven't as well. I'll keep you posted on any updates. Good luck!

 
  • Anonymous Monkey
  •  8/21/17

Got an offer the night of the final round

 
8/21/17

I have only gone through the first round

 
8/21/17

I had a superday on Tuesday with Lev Fin, waiting to hear back as well.

 
8/21/17

My interviewer told me superdays were in November....I guess I got dinged lol (had first round last Thursday)

 
8/21/17

From his tag it looks like he's talking about SF LevFin. They do their own, separate recruiting. Non-core school super days haven't happened yet. Invites are only now going out.

"I know you think you understand what you thought I said but I'm not sure you realize that what you heard is not what I meant."

 
8/21/17

superdays are 19th and 20th. invites have gone out i believe

 
8/21/17

Do they notify you if you were not picked?

 
8/21/17

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8/21/17

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