Why Wells Fargo Interview Questions
How to answer the question "Why Wells Fargo?
Wells Fargo & Company, headquartered in San Francisco, California, is a financial services company founded in 1929 by Henry Wells and William Fargo. With 5,200 branches as of 2021, Wells Fargo is the 4th largest bank in the United States.
For this article, we will focus on the questions we found to be relevant for investment banking positions. However, please know that the described application timeline and provided sample questions and answers may differ slightly depending on the role.
Although the technical questions and assessments may differ based on the position, most interviews intend to assess your character by asking behavioral questions.
This article will provide behavioral and surface-level technical questions to steer you in the right direction. Please know that Wells Fargo emphasizes customer relations and behavioral questions to assess the candidate's character.
Like other companies, Wells Fargo wants to know how you react under pressure, why you chose their company, and understand how competent you are in excelling at the job. Therefore, the company usually requires several rounds of interviews to find the most qualified applicants. Wells Fargo Application Timeline
Interview Tips
Beyond preparing answers and knowing what type of questions Wells Fargo asks, make sure you organize your ideas and be confident in your responses.
Before your next interview, here are some final suggestions you should consider.
- Try to be 10-15 minutes early, no matter the interview format.
- Be concise and clear with your responses.
- Speak with confidence and organize your thoughts if needed.
- Minimize distractions by finding a quiet room and turning off your phone.
- Research Wells Fargo to demonstrate interest and commitment.
- Dress formally and be polite.
- Be authentic and show who you are beyond the professional setting, if relevant.
- Not all stories need to be finance-related.
- Show why you are a good fit for the company.
- Make the employer feel like you will work for them for a long time if accepted.
- If you are confused about a question, wait for the interviewer to finish before asking for clarification.
- Show, do not tell. Use examples and the STAR method when formatting your answers.
- Do not memorize responses.
Wells Fargo Application Timeline
Like many other financial institutions, Wells Fargo's application process includes multiple interview rounds, depending on the role.
The company follows the following recruitment procedure:
1. Search for openings
You can find the open positions most suitable for your background. Ensure your resume is ready so recruiters can gauge your fit for the role. The resume should include your work experience, education, grades, relevant courses, and other activities.
If possible, include a brief overview or summary stating your career goals at the top of the resume. This way, recruiters can see if their available roles match your desired outcomes and objectives.
2. Apply
Upon completing and submitting the application, Wells Fargo will send you a confirmation email to indicate their reception of your documents and necessary information. If the hiring manager reviews your profile and finds it matches what they are looking for, they will contact you.
3. Interviews
There will be several interview rounds following the application process. The process varies by business group, and the interview format may be by phone, in a group, or one-on-one with a recruiter or hiring manager.
These interviews help the employer better understand your motivations and goals and how you can benefit the company. Make sure to come prepared with stories to tell, examples to show, and questions to ask.
4. Decision
After a comprehensive review of your application and interview insights, the hiring manager will reach out to you to let you know the final verdict. If offered, consider the financial compensation for the position, the benefits package, and the company's health.
Note
Please visit their website for more questions regarding navigating Wells Fargo's application process.
Wells Fargo Interview Tips and Questions to Ask
When preparing for an interview, many investment banks suggest candidates approach answering questions using the STAR (Situation, Task, Action, Result) method.
Here is an overview of what it means:
- Situation: Set the scene.
- Task: Describe your position in that scenario.
- Action: What did you do to address the situation?
- Result: The outcome of your actions.
This reflective approach to answering questions would make a good impression as it provides a concise yet detailed and complete summary of the story.
- Tell me about a time when…
- What do you do when…
- Have you ever…
- Give me an example of…
- Describe a situation…
However, even though providing many details to illustrate the situation best may be tempting, please refrain from doing so. Keeping your responses to around a minute is usually the preferred length. Speaking too much or too little will not benefit your application's prospects.
Note
It is crucial to come prepared with questions. Not only will doing so show the employer that you did your due diligence and research, but you will demonstrate interest and commitment in joining the firm if offered.
Here are some questions you can think of asking your interviewer:
- What do you like best about working here?
- How would you describe your ideal candidate (for this position)?
- What do you think is the most important aspect of this position?
- How would you measure success in this role, and how can I meet (if not excel) your bar?
- What part of the position has the steepest learning curve, and what can I do to prepare in advance to overcome it?
- What opportunities will I have to learn and grow?
Why Wells Fargo Interview Question
Like many other companies, Wells Fargo wants to know why you want to work for them. They also like employees who plan to stay with them long.
This question is also almost guaranteed in the interview as it is key to have you demonstrate your interest. While the question could be asked in different ways, it could typically go like this:
Why do you want to work for Wells Fargo?
It would be best to always prepare for this question before an interview. By researching the company and finding aspects of the company that attracted you, you will show the interviewer why Wells Fargo is the right fit for you.
You can mention Wells Fargo's strengths, the corporate culture you heard from someone working in the firm, the recognition they received, or a program they have to address a cause you believe in.
However, it would help if you never mentioned income, financial benefits, or other money-related attributes. Also, be specific, as that would indicate that you have not properly prepared for this question.
Always come prepared with a couple of things to say, and pick the most important qualities that attracted you to apply for the position at this firm.
You should be concise in your response and list specific reasons differentiating your reasons for this company from others. If there is time and opportunity to do so, say that you would like to work for them for a long time and talk about your future goals with the company.
Sample answer:
Throughout college, I have always been involved in community service, especially in low-income households. As a result, I have always wanted to work for a company with the same commitment.
Knowing that Wells Fargo has a Global Fellows Volunteer program and a Wells Fargo Builds program, I realized that applying here is a no-brainer.
Beyond giving back to the community, I have always been involved in campus investment and real estate clubs.
At Wells Fargo, I could fulfill the ambition of banking and learning the insights to investments through an S&P 100 company that excels in commercial real estate offerings.
Here is another format for this question and a sample answer for it:
What about Wells Fargo made you apply?
I have spoken to many current Wells Fargo employees during my career counseling process. During this timeline, I learned about its encouraging environment where teamwork and inclusivity are mandatory.
Hearing stories of colleagues exchanging contrasting ideas to achieve the most rewarding outcome and leaders empowering new employees to be vocal, I see myself thriving in this environment.
Or:
What is your ambition in working for Wells Fargo?
As a loyal customer of Wells Fargo's services, I had always hoped to help other households to achieve their financial goals. Thus, it had been my ambition to help other families like how Wells Fargo helped my parents.
Other Wells Fargo Interview Questions
Wells Fargo has a fairly balanced list of questions that assesses the candidate's knowledge and character through behavioral and more technical or conceptual questions, depending on the role.
In this section, there will be some common questions and our sample answers. Please use these responses merely as a reference to guide you through your preparation process. In your interview, be more specific and provide examples or stories.
Other Wells Fargo Interview Questions
The company wants to see how capable you are at meeting or exceeding difficult expectations. Since a job in investment banking could put you in stressful situations, the company wants to know how you overcome adversity.
Be concise and state exactly the situation, the steps you took, and the outcomes of your actions when answering this question.
Sample answer:
In my previous role, I was responsible for crafting reports and presentations to small-scale businesses looking to grow their revenue. However, while I had experience working across multiple industries, I had yet to work with a soft drinks company.
It is always challenging to work with a client from an unfamiliar industry. I was also instructed to complete the report within three days without prior notice as it was last minute.
Working overtime and reaching out to everyone I know, I compiled the necessary insights to produce a higher-quality report.
Eventually, by collaborating with the client and working with my teammates, I was able to complete the report in time. Using my insights, the company successfully achieved its objectives as well.
This question tests the cognizance of your moral obligations and responsibilities. Therefore, it would be best to outline how you would react truthfully while knowing your position and duty at the organization.
Sample answer:
Under the company's policy, my first step would be to intervene safely and ask them what they are doing. Then, if my colleague is still committed to stealing, I would immediately speak with my manager or another senior member to report the incident.
Providing the details of my observations and the colleague's actions, I would help my manager to report the situation if needed. I will be the primary witness if the report needs to be written.
This is a straightforward question to see if you have done your research. The company wants employees who demonstrate interest and due diligence when preparing for the interview. Be concise and list a few companies that fit the description.
Sample answer:
Some of Wells Fargo's competitors include JP Morgan Chase, Bank of America, Citigroup, Goldman Sachs, and Morgan Stanley.
This is a basic technical question that wants to see if you understand how to go through a lending process. When answering, list some relevant factors contributing to your decision to lend resources.
Sample answer:
Although there are many approaches to assessing a company, I would look into some of the following things: financial statements, comparative analysis, projections, corporate integrity and payback methods, owner integrity, and executive team profile, etc.
The company wants to know you better as an employee, so it is important to be authentic. However, you should refrain from bringing up any weaknesses that can affect your performance, career, or overall competency for the job.
Sample answer:
I believe that my greatest strength and weakness tie into one: the constant pursuit of being an overachiever.
By setting a high bar for myself, I developed the habit of doing my best for every task. Thus, I have a good work ethic and time management, knowing how to allocate my workload before the deadline and plan most effectively.
However, I am scared of encountering setbacks. In the past, being unable to meet the standard had impacted my mental wellness, given my character. Recently, I have been working on being more open to making mistakes and learning from them instead of always avoiding them.
The company wants to know if you will stay with them for a long time, which you should express that you do. Demonstrate your interest and commitment to the company and be as detailed as possible for your future goals.
Sample answer:
As a new banker, I hope to attend graduate school for my MBA eventually. First, however, I hope to work with more clients, whether small or large businesses, in helping their companies grow through financing.
But I hope to focus more on developing my foundational skills in the short run before aiming for long-term goals.
Regardless of how long it takes me to achieve a more senior position with the flexibility of working across a more diverse group of clients, I wish to stay at Wells Fargo to accomplish those objectives.
Similar to a background check, this question assesses your competency to excel in the position.
It may be challenging to pinpoint the exact activities or work experience that prepared you for this position in a minute, so prepare in advance to find one or two things that led to your application.
Sample answer:
I have previously interned at two investment banks throughout college, where I earned my bachelor's degree in Finance. I have also obtained a leadership position in my school's premier investment organization.
Since my first year, I have been involved in multiple pitching and investment competitions and consulted with local organizations through school clubs. Thus, I have a solid understanding of analyzing companies and strategizing investments while being a leader and collaborator.
The company wants to know your working style. Being organized and staying on track in conversations is crucial to excelling in Finance. Try to be as specific as you can and demonstrate a positive working attitude and focus.
Sample answer:
I never multitask when engaging in a conversation. Instead, through note-taking and asking clarifying questions when necessary, I compile a list of important information to keep up with the pace. While doing this, I take mental notes on areas I need to ask more about or fill in later when the meeting ends.
I also like to prepare a general layout by organizing my notes to make changes conveniently. If the call is remote, I do the same and have a document open before I enter the meeting.
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