Wells Fargo Summer Financial Analyst Program (Commercial Real Estate)
I'm applying to various commercial real estate internships/programs as a junior. Wells Fargo is recruiting on my campus for their Commercial Real Estate program.
When I mentioned it to a peer pursuing similar internships, he said "yeah I'm not interested. I'm not sure if I want Wells Fargo on my resume given their recent reputation/events".
Do you guys think that is a legitimate concern to have? I want to think that on a micro level if I were to work at Wells Fargo, I wouldn't need to be concerned, but I'm curious what you guys think about working at the firm considering their recent history. Also while I'm at it, what is culture like at the firm and maybe in this specific program for someone who has completed it?
Not at all. While their rep may be slandered slightly in the wealth management space, investors have very short memories. Wells Fargo is still a huge brand and the program sounds like a good experience, at the least the title. I am not too familiar with the program or Wells corporate culture so maybe someone else can chime in on that.
On the plus side, looks like you have less competition on getting the position. Good luck!
What do you want to do in real estate? Do you want to be on the commercial lending side? As mentioned, I wouldn't concern yourself too much with what the scandal du jour is. All the banks have skeletons in the closet. The real question is what kind of real estate exposure do you want and is Wells Fargo's analyst program going to give you that exposure? Then again, as a junior, you gotta take what you can get.
Wells has a good reputation within CRE lending, so you shouldn't be too concerned about what they've done within the consumer bank. The only people who would associate the group your group with the issues they have had don't know what they're talking about, and they wouldn't be the people hiring you for your next role either.
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