Wells Fargo

UPDATE: https://www.wallstreetoasis.com/forums/pls-fix-we… EDIT: https://www.efinancialcareers.com/news/2021/03/we… EDIT: S/O to @wallstreetintern and @litquidity for the features (link / pic below) This might seem old and repetitive, but yes, I want to complain too. Wells Fargo IB is not the place to be right now. Banking has become more of a taxing job than it has been recently because of all that's going on (we all know this). It's a sweatshop over here and everyone is putting in 100-hour weeks like

25 Mar 2021

Want the SparkNotes? We got "banker speak" for nothing. But you don't need a SparkNotes because it was only a whole 30 seconds or so on an hour-long call. Senior Leadership on Junior Banker CIB-wide call: "We saw the materials and saw the forum" - nice, I would hope so. "We're exploring resources and solutions" - as you said you have been for months on end now… and as you SHOULD be at all times… without a deck or forum or having to tell me lol. "We've set a net zero emissions target for 2050" - sick bro. So what value did any junior bankers at WF pick up from the call? Please chime in because

31 Mar 2021

"What are the best groups in Wells Fargo's IBD in terms of deal flow, culture and exit opps? I know this has been posted here before but the information is pretty old and WF is growing fast so I assume much of it has changed. I'm also curious about the locations of each group for interns as I know some are exclusively New York or exclusively Charlotte." I copy and pasted this question because this is what I'm wondering, but this question was asked 5 years ago. Any help would be appreciated

20 Oct 2021

I see everyone else posting this so I figured I'd throw this question out there. Based on the size of Wells Fargo's intern class, do you think they're likely to give out FT offers? We got an update saying we'd get an update in a few weeks but nothing since.

08 Apr 2020

Wells Fargo SA 2020 applications opened up today for IBD so I just wanted to get a thread going to stay up to date with the process. Does anyone have an idea of what the timeline is looking like, and whether they're sticking with phone interviews or using hirevues? Good luck!

12 Jul 2019

Last month I applied to the Financial Analyst Program at WF (Commercial Capital - Retail Finance). Had my first interview Friday May 14 and 3 hours after my interview (that's the fastest follow up I've ever received) I received an email that the managers wanted me to go onto the final round. They also mentioned that they wanted me to do the interview ASAP because they wanted to "wrap things up". I did my second, and final, interview the following Monday. Managers stated that they received very good feedback on me from the first interview. Little background about myself: I have 2 years of

02 Jun 2021

Story from NYT Dealbreaker: Bonus Watch '19: Carnage At The Stagecoach [quote]It appears that bonuses are being handed out at Wells Fargo, and judging from our email inbox, America's least-trusted bank is now pretty widely hated by the people who still work there. According to one tipster, "Wells Fargo bonuses released today. Associates and up. Down 30% across the board. Even hurting stub associates." Says a second, "Bonuses announced here at WF. They are screwing us almost as bad as our clients. 30% drop. Morale in the shitter." And yet a third puts it even more stark picture. "Absolute bonus

10 Mar 2019

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. wells fargo investment banking overview The way that Wells did group placement was pretty ass back in my day (and I'm pretty sure they haven't changed it). Well Fargo Investments Placement Process 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

05 Aug 2017

Hello! Has anybody started a discussion on this? I checked around WSO, but I have not yet seen anything so I am starting one myself :D Anyways... The deadline to apply was yesterday, so I am a little late on starting the discussion but have you guys applied? I am pretty excited about it, I heard they fly us out to NC for the event

12 Oct 2021

I have a final interview with Wells Fargo for the 2022 Corporate Risk Summer Intern Program. How should I prepare and what kind of questions should I expect? Also, under the description it says Program Placement Verticals: Compliance Risk Commercial Banking CRO Consumer Lending CRO Consumer & Small Business Banking CRO Corporate & Investment Banking CRO Market Risk Model Risk Operational Risk Wealth & Investment Management CRO Does this mean that I will be asked to choose a program to be placed in? If I were to choose Risk in investment banking, could I break into Investment Banking in the

24 Oct 2021

"https://www.wellsfargojobs.co m/applicationprocess-earlycareers" If you look at the above link, some of these internships have a range of dates listed; for example, the Wealth and Investment Management Intern Program has the dates October 7, 2020 - October 8, 2020. Is this the full application window? It seems rather crazy that you only have a two day window during which you can submit an application! NB: I tried searching up the job ID of some of the available internships on WF's career website, and they didn't appear, so the window to submit applications certainly isn't open right now.

26 Sep 2020

So I got an email today after interviewing with Wells Fargo last week. "Good afternoon, Thank you for taking the time to interview for the Wells Fargo CIB 2022 Summer Associate Program for Investment Banking. We appreciated the opportunity to speak with you and learn more about your background and experience. At the present time, we would like to keep you on hold for the Wells Fargo CIB MBA 2021 East Coast Super Day. We will follow up with you in the next 1-2 weeks to let you know your status. In the meantime, please keep us updated on other interviews, offers, or deadlines." So I'm wondering

23 Nov 2021

I am currently in the recruiting process for the full time Financial Analyst Program at Wells Fargo. I have completed my 1st round interview and am getting ready for my second round interview. The behavioral questions were not bad but I could use some tips on the technical questions. The 1 technical they did ask me was "Besides the three financial statements, what else would you look when lending to a company?" Does anyone have any idea what they may ask for a second round? Also if there are any full time Financial Analysts in the program, please comment below, I would love to connect.

04 Oct 2020

We are excited to announce a new Paid, Commercial Real Estate Virtual Internship Opportunity with Project Destined in Fall 2021. Project Destined, founded by a former Carlyle Group executive, has partnered with 100+ leading real estate firms and 70+ universities around the country to provide diverse students with internship opportunities to explore ownership through live real estate deals. The 8-week Paid, Virtual Internship Program will launch in 20+ U.S. markets this September with an incredible group of partners including Wells Fargo, Brookfield, Related, JLL, Walker & Dunlop, Berkadia

28 Aug 2021

Would love to hear people's thoughts on the comparison between Wells Fargo IB (platform offer - all divisions and locations) vs. a small tech boutique (think USA/GCA/FTP in NY office) for SA position. Here's what's important to me: Learning experience & responsibility Potential to re-recruit for full time at BB or EB Exit ops - preferable PE or lateral, and the more optionality the better Getting experience in tech/TMT (whether at SA stage or later on) Culture Thank you so much for sharing. This community has been incredibly helpful throughout recruiting.

10 Sep 2020

Hey monkeys, Wells Fargo is starting to get used to apologizing. It was just disclosed that Wells Fargo & Co. has pushed thousands of car buyers into loan defaults and repossessions by charging them for unwanted insurance. Much of this is pointing to major failure in their "internal controls". [quote] An internal review of the bank's auto lending found more than 500,000 clients may have unwittingly paid for protection against vehicle loss or damage while making monthly loan payments, even though many drivers already had their own policies, Wells Fargo said in a statement late Thursday. The

02 Aug 2017

So, NYC got bombed this weekend and I'm surprised nobody has brought it up here. Then, the CEO from Wells Fargo gets grilled in Congress today and also nobody brings that up either. Feel free to discuss here.

20 Sep 2016

Lots of old, maybe outdated information on Wells Fargo S&T groups. Can anyone give updated info on which groups are in NYC and Charlotte. It seems like their IB division has started to move more and more to NY. Have they done the same for S&T? Whats the culture like and which groups are strong?

25 May 2020

What are your thoughts as of 2018? Read some reviews of STRH on here but seem to be a little outdated. Will be SA in coverage at STRH in a couple of weeks and was personally impressed by their team after networking with senior bankers, but have ties to Charlotte and am also considering WF for FT next year. Is Charlotte still a better city for banking assuming I want to stay in the south? How is WF's deal flow? I'm sure Levfin is still the biggest revenue generator due to balance sheet. Appreciate your input.

13 May 2018

A Wells Fargo employee sent an email to the CEO, John Stumpf, he also CC'd 200,000 other Wells Fargo employees on the email asking for a 10,000 raise for every employee. In the letter, he brought up the issue of income inequality. He pointed out that Stumpf took home $19 million in compensation for 2013. Here's the letter: [quote] Mr. Stumpf, With the increasing focus on income inequality in the United States. Wells Fargo has an opportunity to be at the forefront of helping to reduce this by setting the bar, leading by example, and showing the other large corporations that it is very possible

18 Oct 2014

Currently going through the placement process at Wells Fargo and curious what the top groups are. I found some old posts, but nothing recently. Which groups would you recommend? What are your thoughts on their sponsors group? I have read that it was good in the past but I imagine the conservative nature of the bank must get them. Also curious on the strength of the REGAL group. I appreciate the help!

17 Jan 2020

So I transferred to my university (solid private but non target), from a big public school earlier this year, switching from Engineering to Finance + Math. My GPA is good, but I was having trouble landing internships probably due to lack of experience since I haven't worked or interned in finance at all before. Through extensive networking with alumni, networking events, getting my resume reviewed, etc... finally started hearing back. I just got a first round interview, scheduled in a couple of weeks. To be honest, I've focused almost entirely on applying for internships not preparing for

03 Mar 2021

Hey guys, I don't see much typically about WF but when I do it's never about Healthcare. Was wondering how is their HC group and are they growing, etc? Thanks.

15 Dec 2021

Just had this forwarded to me...apparently, some student felt that Wells Fargo was "creeping" his accounts and first sent them this:

From: XXX Sent: Sunday, November 24, 2013 1:59 AM To: XXXX Subject: Not Interested Hi, Currently NOT interested in the Securities Analyst Program. Please stop creeping on my accounts. Cordially, XXXXXX

25 Nov 2013

I've gotten a number of PMs about analyst housing in uptown Charlotte, so I thought I'd consolidate my responses and post them publicly for everyone's reference. Hopefully this helps all you incoming BofA/WF analysts looking for places to live. I'm assuming if you want to live uptown, you also want to be walking distance to bars as well as work - the center city is going to be best for you. I would recommend looking for a condo rather than an apartment, since the apartment buildings are a bit of a longer walk to both bars and the banks. The two nicest buildings in town are the Trademark (333 W Trade St) and the Avenue (230 S College St). Both are your typical "high rise" stylistic condos - metal and glass, wood floors, stainless appliances. The Avenue has slightly nicer amenities. Both buildings will probably run you in the $1400 - $1600 range for a singe, or about $2100-$2400 for a double, depending on how high up and what floor plan. Both are within walking distance to BofA HQ and Wachovia One, as well as the Epicenter and all the uptown bars.

10 Jan 2010

What are the best groups in Wells Fargo's IBD in terms of deal flow, culture and exit opps? I know this has been posted here before but the information is pretty old and WF is growing fast so I assume much of it has changed. I'm also curious about the locations of each group for interns as I know some are exclusively New York or exclusively Charlotte.

29 Sep 2017

Not that it is a secret to anyone here, but since 2008, banks have seemingly got a bad rep. Just go ahead and tell your extended family that you landed a job as a investment banker and prepare yourself for the church-eyed-glares that arise. But what about Wells Fargo? With more commercial bankers than investment bankers and the largest market capitalization of any American bank, Wells has achieved a somewhat better name amongst the biggest banks. For starters, their delinquency rates on residential and commercial loans are also lower, sometimes much lower, than competitors. Best of all, they

30 Jan 2012

Hey has anyone heard back with an offer? Just finished up super day last week and am still waiting to hear. If you did receive an offer, how long after your super day did you get it? Thanks!

30 Oct 2018

Even though Wells Fargo's number 10 in the league tables: http://markets.ft.com/investmentBanking/tablesAnd… I rarely hear anyone talking about them on WSO, I see more people talking about about Jeffries and Houlihan. Why isn't Wells Fargo considered bulge bracket? Especially when Wells Fargo is expected to even further expand its IB services in the coming years. Even shareholders of Wells Fargo can see this(whether for positive or negative reasons is another topic): http://www.bizjournals.com/denver/news/2012/04/16…

17 Apr 2012

Hello WSO, I wanted to give back a little bit by talking about the recruiting process I went through and the interview questions I answered. First Round I got an interview via OCR. Spoke with one associate level person in the tech banking group. Questions were mainly behavioral. Asked about group work mostly. On the technical side of things she asked about what I would consider when lending to a company. (Free cash flow, strength of financials, strength of business, management team etc). Afterwards I asked what she thought about increasing cash burn rates in many tech companies as well as speaking to her about the economy and the Fed. Second round

28 Oct 2014

We've got a big week for earnings this week, guys. Bank of America, Citigroup, Goldman Sachs, Morgan Stanley, and Wells Fargo all report this week. In fact, we're only a couple hours away from Citigroup's release and, the way the pre-open futures are backing off, it might not look very good. Overall, earnings are expected to be soft across the board, with the banks adjusting to the new trading rules and lower deal flow. Those banks with retail arms are leaning heavily on them to bolster the numbers and those without, well, might get hammered. Maybe FAZ is the play this week. We're all hoping

18 Oct 2010

I got admitted into this Forum and not sure if any current WF employees have any insight on how likely placements are from this "Pipeline" event. I have two potential referrals for Wells Fargo, but after getting admitted into this Forum, they encourage me to put the Forum as my referral instead. Any other forum attendees here?

10 Sep 2020

I got a SA Sales and Trading offer from Wells Fargo for the New York office for summer 2019. I like the firm a lot but some of the other firms I've been looking at (BAML, JP, CS) haven't even opened applications for S&T yet. Any advice? The offer explodes soon

10 May 2018

I just got done with the phone interview, Incase anyone is wondering it was mostly behavioral (centered around team questions) and then was asked about the 3 financial statements and what they are used for, also was asked what other resources I would use when analyzing a company. But anyways they told me I should be hearing back October 9th, has anyone else gone through the process and how many interviews would be expected? Also, what the technical questions from here on are like and what I should be focusing on?

26 Sep 2018

For context: This is for a Summer Investment Banking Analyst position. Hey guys, I'm a bit of a predicament. I have an offer for Wells Fargo IBD SA, but the issue is the offer expires this week and I've asked them to push the deadline but they said they aren't willing to budge on the date. I have a BAML IBD superday next week, after the Wells deadline passes. I'm looking for advice. Should I accept the Wells Fargo offer, thereby losing the chance to work at a better firm? Or should I reject Wells and pray that I get the BAML offer? Also, what are the consequences if I accept the position at

23 Nov 2015

I liked to climb trees when I was a kid. My favorite method of monkeying around included wrapping my legs around a thick enough branch, letting go with my hands and hanging upside down like the true gorilla I am proud to be. Thinking about the simple, stupid joys of childhood ends with a sobering shiver when I read stories like this one . Christopher Bryski suffered the fate my nagging elders always feared when they saw me swinging from branches.

07 Aug 2010

Hi! Trying to decide between a few offers. The 2 that I am in between are: Wells Fargo Financial Analyst Program (commercial bank) Base: 60k, Bonus 5k, Potential bonus 10-15% of salary Capgemini Consulting- staff consultant Base 66k, Bonus 4k, Relocation fee 3.5k I will graduate from a target school Finance degree with 2 internships: 1 from BOA, 1 from energy company. Which one will give me better exit opportunities? Hesitant to not go into finance after college and banking is competitive to get into post-grad (from what my peers have said).

05 Nov 2019

Curious how recent regulatory action / scandal has affected deal flow and sentiment on the street for WFs IBD. Also curious which groups are best. Thanks.

13 Feb 2018

Since 2008, the media's scrutiny of the financial sector has intensified significantly. This has thrust many of the larger banks into the spotlight to address issues such as Libor manipulation (Barclays), whale sized trading losses (JPMorgan Chase), and irresponsible underwriting (Morgan Stanley). Undeniably, the whole industry has suffered due to the negative media attention over the last four years despite reducing risk and improving balance sheets across the board. One bank, however, has used the turbulent wake left over from 2008 as an opportunity. Wells Fargo & Co (WFC) has not only avoided costly blunders but also responsibly increased its market share and is now uniquely positioned to take advantage of any bones the tepid economic recovery might throw.

07 Aug 2012

Hi guys, Just wanted to gauge opinions on the forum about junior year SA offers my friend is currently deciding between. One is Wells Fargo IB (either in Charlotte or NYC, location not secured yet) or JPM Asset Management (NYC). He long-term goal is to be an investor, and he's been in love with the public markets for as long as I can remember. Any input would be greatly appreciated!

10 Oct 2017

Hey Everyone, I had a first round interview with Wells Fargo back in August for their Summer Financial Analyst Program for Summer 2015. After 2 or 3 weeks I heard back that I moved on to their final step which is a superday in SF next month. I know the superday is going to be mostly technical question, and I feel that I should not struggle with this. I just wanted some input from people who have had experiences with this program, or know someone who was. I wanted to know more about: -Quality of the program (Workload, Challenging work?, Good people to work with?, solid feeback?, etc.) -Starting Salary + Bonus

08 Oct 2014

Hey all, So I've gotten offers from both. I do want to end up getting a FT IB offer, but obviously the Goldman name on the resume is a lot stronger than the Wells Fargo name... Opinions? I've got until Thursday to decide for both. Also, Wells is a platform offer, and GS is rotational. THANKS! Edit: Do you think itll be easier to transition from Goldman S&T into a BB IBD or from Wells IBD into a BB IBD?

15 Dec 2014

Moving to Charlotte. I just received an offer from one of the two large investment banks in Charlotte, NC and I was curious if anyone from the area had any advice on housing/ apartments. From what I've heard, you want to live within walking distance of work due to the long hours. My issue is all the places near work cost anywhere from $1,000 to $1,300 unless I go with a studio which can get me closer to $950. So the questions are... 1. Do I need to live in walking distance (ie uptown within 5-15 minutes of work) 2. Should I feel comfortable paying $1,200-$1,300 on rent alone? Or should I shoot for the not-as-close/not-as-nice places for $800-$1000? 3. Since I won't be spending much time in my apartment anyways, shouldn't I just get a studio? Thanks for the help guys.

06 Oct 2011

One of our favorite don't ask, don't tell topics in the finance world is the foreclosure mess. Call it Foreclosuregate , the Credit Crunch or the Housing Crisis it just will not go away. Simply put for greater econ minds than mine: When you base your wholesale economic growth on property being just another giant credit card, you are going to be SOL when said property (ies) cease(s) to appreciate in value. As much as we want to bury our hamster noses into the ground and diligently burrow to a better day, it ain't happening on the wholesale level until the housing market improves.

12 Jan 2011

Hey all, I got an interview for a WF Corporate/Commercial banking summer analyst position. Would this be frowned open if I wanted to apply for Wells Fargo IB for FT after the summer? specifically in an industry group or maybe M&A advisory with WF? or is it going to give me a leg up? How about PFM grou? They do public finance, munis, non-govnt financing. This company has a good network with BBs. But how well would this let me end up in a corp finn, advisory at a BB or a reputable boutique or MM bank? since the work is a little different. Are the skill sets are pretty transferable to m&a/corp finn for either of these gigs?

18 Feb 2011

What about the new tax law would lead JPM to lose $2.4B and WFC to gain $3.4B? https://www.wsj.com/articles/bank-on-j-p-morgan-n… I think I understand the concept of deferred tax assets, and the difference between TAX accounting and FINANCIAL accounting. However, if both JPM and WFC both had deferred tax assets on the books, shouldn't they both book a gain or loss? For instance, JPM owes 35% tax on $10B in 2018 and WFC owes 35% on $15B in 2018 that are on the books as deferred taxes. New law gets signed... boom, they both owe less taxes and book a gain. If the discrepancy is

15 Jan 2018

Hey guys, I'm a junior at a target (Ivy) interested in credit. I'm trying to figure out the best way to get to a credit HF. I currently have offers to join DB's structured credit desk as well as as a HY credit analyst at a >$1bn credit fund at a large bank. Obviously 1 is sell-side and 1 is buy-side but the jobs do seem very similar. I would think that the buyside program would be better but there is no formal training program and I was unsure of what type of experience I would have. On the other hand, I genuinely like the people at DB and am told they take a lot of principal risk when trading illiquid products. To me, this means that I would be doing similar jobs, but I may be wrong. 1) Please advise?

04 Feb 2015

Some days I feel like ranting about markets, some days I let other do my dirty work. Since I don't have the funds that Jim Rogers does, I can cash the ego bonus of him echoing my sentiments on a few key issues. The only bad thing about what is shaping up to be a beautiful day, is that I can't embed directly off the CNBC website. What better than to have than Jim's stupid-like-a-fox grin, country drawl and old-school bow tie staring you in the face when you browse over to WSO?

20 Oct 2010

Has anyone been interviewed for this? I have an interview today and know it will be behavioral, but I wanted to know which types of questions I should prepare for.

29 Jun 2020

Alright for those of us that are about to begin our final year (next week...gasp) in college and are working on recruitment for IB, I figured I'd make a thread so we can keep each other in the "know" as to who's recruiting when and what positions. This is for USA positions as well as UK. Also, for anyone that's already in IB that works at some of these firms that are recruiting and knows the schedules, feel free to post. I know DB and CS in London are recruiting. Wells Fargo Investment Banking applications go from September 20th-September 25th. JPM Chase applications are also start in September. Not sure as exact dates but a recruiter told me "beginning of September". This is for FT recruiting, not SA. Also, please don't post your resume for people to check.

18 Aug 2010