Wells Fargo Securities - Superday coming up

"firm's pushing real hard to get me"

haha humility is a beautiful thing

You have to do a bit more research. Although I don't recall the exact groups offhand, WF has more group presence in NYC than you alluded to. I believe they have a couple people in their Power & Energy group as well as TMT. They also have a large amount of people in the TMT group in Charlotte.

Also, analysts reaching out to you doesn't imply they are "pushing real hard" to get you, so don't get ahead of yourself.

Lastly, unless you interviewed with a specific group for a specific position, you probably aren't going to get a 'choice' as to where you end up...not unless you have multiple groups extend offers to you.

Do some searches on here about Wells. I'm almost certain there has been a somewhat recent TMT discussion specific for Wells.

Regards

I didn't want to make it seem like a done deal, so sorry if it seemed that way. I've never had analysts reach out to me in this regard, especially since they aren't alumni or anything either, so it could just be hype on my end. I have to close it out at the superday and I understand that.

Seems like TMT is a sweatshop and a shell of its former self, so I think I'll avoid now that now. You're right, apparently industrials is also in NY, I think that seems interesting.

Is it safe to say M&A is best for exit opps to PE?

Thanks a lot for that insight, really appreciate it.

The NY TMT comment swayed my opinion a bit haha, guess I'll just have to see what its like during the actual superday and talk to some folks in that group. If the experience I get is solid enough to be able to move to PE, I think it's worth it, even if they work you very hard.

Thanks a lot once again man, you covered exactly what I was looking for. SB to you!

The M&A group in SF splits their time on middle-market tech deals, and larger real estate deals (mostly REITs). Not sure if that's appealing to you or not.

I would recommend charlotte. You get the same salary regardless of where you are stationed, so take the place with the lowest cost of living.

You can live like a king in charlotte for like 20k per year in food/rent, and get a giant condo one block away from the office.

I'm considering hiring a maid to clean up my shit, simply because I have so much cash left over. srsly

.

My understanding is that was initially Barrington Associates (Wells acquired them a few years back), which focuses on middle market deals. I don't know if that is still the case or if they have placed other groups out there since.

Sorry I can't be more helpful with that one.

Regards

dont go to tmt.

legacy wachovia tech group (which is what I assumed the OP was interested in) basically moved after the wf acquisition and based on my knowledge, they did not do anything headline catching after the depletion of the group.

Alternative would honestly to be in charlotte. I heard the M&A group there is pretty good.

the sponsor group in sf is OK and it's always good to be in a sponsor / M&A group if you want the pe/hf exit oppo afterwards.

feel free to disagree and opine, cphbravo96

I will agree that TMT isn't an easy group (from the stories I've heard) and that in some ways, it isn't the best for professional development because people seem to come and go a lot, so the supervision and support might not be there from your associates & VPs...but from an overall experience standpoint, it seems to be acceptable. Granted what you want to do going forward could factor in heavily as to whether or not a tech group is the best place for you. Ricqles makes a point that it isn't the best, but I guess that is all relative to what your other options are.

NYC provides the opportunity to network throughout the greatest finance city in the world...which could be invaluable...however, the groups are smaller and in some cases potentially ancillary to the main groups based in Charlotte (I don't know that for a fact, just listing a potential drawback).

I also agree with the M&A group and might through LevFin in there as well. Personally, I would rather end up in M&A or LevFin in Charlotte than TMT in NYC...but I'm from the south, I like Charlotte and I have friends there...so your mileage may vary.

Ultimately you decision is going to be based on the offers you have and what groups you are matched with. Maybe you will get an offer from an NYC based bank so you don't even have to consider WF or maybe you get a WF offer for a NYC group that is subpar compared to the Charlotte group. It's tough to say until you have the choice.

Regards

So I can chime in with a bit more information. WF is apparently hiring solely in Charlotte, with exception to ECM (based on a preference form). I know that TMT and M&A also are in NYC for WF, but I'm not sure whether those groups are hiring. Would it be an offer killer if I ask during the superday whether the NYC arms are hiring? I don't think the sponsors group is hiring because there was no indication of the group on the preference form.

TMT is looking less appealing to me because I definitely got the impression that it's a sweatshop. Not exactly what I want to go into when I'm equally as interested in M&A.

At the end of the day, you're right cphbravo. I have to see what other offers I get and make a decision from there. I think the most pressing question now is how much to push a possible NYC opening. I don't mind working in Charlotte, and I can convey that in the superday, but I also want to convey that NYC is equally as appealing to me without completely wiping out my chances, you know?

Yeah, I see what you are saying. Personally I wouldn't say anything about it to the people you are interviewing with...unless specifically asked...then I would say that I have good friends working in NYC and wouldn't mind being placed there should a position be available. Maybe you can gather some info when you are at dinner the night before (if they have one). You should be able to meet a bunch of people that already work there and who might have an idea of where they are looking to place people.

For me, the problem with placing an emphasis on NYC is that there just aren't going to very many opportunities for you up there as far as opening are concerned. If the interviewers feel you only want to be in NYC they may be less inclined to give you an offer because they are trying to fill 25x more spots in Charlotte than NYC. To me a job in Charlotte is better than no job in NYC.

My understand, and someone can correct me if I am wrong, is that you are extended an offer to join WF as a general 1st year analyst. Then later in the year you will be brought back for a day in which the groups check you out and, if they like you, extend you an offer to that specific group. So it's almost like a double process. I don't know if that is the case for you or if you are being brought in for more specific roles.

To me you want to first get that original offer, then you can start showing favorites towards one group. At least if you have an offer, you can work on getting placed in NYC and if it doesn't work out...you stay in Charlotte, with a great job. Also something to consider is the ability to move after you spend some time in Charlotte, probably after your first year. Maybe you can leverage the good work with the MD in your group, or even in another group, and 'transfer' to NYC. Again, that is probably not really likely considering the very few spots that are in NYC for Wells, but it's worth a shot.

More to your question...I had lunch with my old intern a few weeks ago and he specifically said that 'good' people weren't getting offers because the interviewers weren't really sold on how bad that person wanted to work at WF...which in many cases probably translates to 'rather not live in Charlotte if I don't have to'. That is entirely anecdotal, but Wells tends to lose people who 'settle' for a job there because they couldn't secure better offers and then they jet after a year for places in NYC looking for laterals. I'm just saying, maybe it's better to play it safe than sorry.

Regards