Working for Wells Fargo: Employment, Careers, and Jobs
If you are interested in working for Wells Fargo, this post will help you learn about employment, careers, and jobs at the Company to help you make informed decisions about your career.
Please, read on:
Wells Fargo: Company Overview
Wells Fargo & Co. is an American multinational financial services Company engaged in the provision of banking, investments, insurance, mortgage, and consumer and commercial finance.
The Company operates through the following segments:
• Community Banking
• Wholesale Banking
• Wealth & Investment Management
The Community Banking Segment
The Company’s Community Banking segment offers complete line of various financial services and products for consumers and small businesses, such as checking and saving accounts, credit and debit cards, and automobile, student, and small business lending.
The Wholesale Banking Segment
This segment offers financial solutions to businesses across the United States and worldwide.
The Wealth and Investment Management Segment
The Wealth and Investment Management segment refers to personalized wealth management, investment and retirement products and services provided to clients across U.S. based businesses.
The Other Segment
The Other segment directs attention to the products of WIM customers served through community banking distribution channels.
Wells Fargo & Company was founded on March 18, 1852 by Henry Wells and William G. Fargo. The Company has its headquarters in San Francisco, California, with central offices throughout the United States.
Why Work for Wells Fargo
Wells Fargo, with 1.379 openings on CareerBuilder, is the No. 1 home lender in the country and it hires a lot. Most employees say it is a pretty great place to work. According to the firm’s brand manager, the financial services Company has 280,000 team members, and is always hunting for new talents to fill positions as bankers, tellers, online customer service reps, and in the home mortgage department.
Wells Fargo is eager to hire people with no financial background; looking more for an attitude than financial knowledge. They look for an entrepreneurial attitude, and the possibilities to get promoted are endless.
The salaries that Wells Fargo pays its workers are approximately aligned with the competition. According to Glassdoor.com, the average teller makes $10.83 an hour, which is slightly less than that of Bank of America which is $11.25 an hour, or JPMorgan Chase’s $11.12 an hour. A personal banker earns $35,198 a year, a pinch higher than that of BofA ($34,920) or Chase which amounts to $34,363.
Most employees on Glassdoor agree that they shine in terms of benefits. The employees at Wells Fargo talk wildly about the 401(k) match and paid time off. If they are volunteering for a day, they can even pocket their daily wage.
Wells Fargo is really focused on bettering the communities in which they handle business transactions, by tracking every year how much time they spend in the community.
However, some employees are displeased by what they see, such as getting fired without hesitation no matter how great of an employee they are in all other areas if they don’t meet minimum sales requirements.
Wells Fargo Careers and Jobs
There are many fields to explore at Wells Fargo if you consider building a rewarding career with the Company. The various jobs and opportunities range from Phone Banker to Personal Banker to Teller to Branch Manager to Inbound Sales, and more.
Working at Wells Fargo will encourage you to reach both personal and professional goals, because of the Company’s provision of healthy work/life balance. As a team member, you will benefit from ongoing learning opportunities and training programs that will help you make the most of your interests and ambitions.
The Company provides tools and resources to help you reach new heights of success as professional development is a business imperative for the Company.
If you are a student, retired or working patient, you will find great opportunities that work for you at Wells Fargo.
Below is a list of roles and career areas, and lots of options available to explore at Wells Fargo:
Working as a Phone Banker at Wells Fargo will offer you the opportunity to interact with different customers. You will start with an exceptional paid training program to get you up-to-speed on the Company’s banking products, services, systems and procedures.
You will be a part of a team that succeeds on ensuring top-notch customer service, solve complicated problems with multiple software programs, and take care of incoming calls from numerous customers, and use your banking product knowledge to expand customer relationships.
As a Personal Banker, you will devote much of your day as possible to having in-depth conversations with your customers, either by phone or in person.
You will develop and maintain rapport with the Company’s partners, build and manage lifelong customer relationships, understand customers’ financial needs, and show them how to get the greatest possible value from the Company’s products and services.
Your work as a Teller involves getting customers and making them feel welcome, processing transactions for them to help manage their finances, looking for ways to make financial services more convenient for them, and introducing them to the Company’s bankers or other Wells Fargo partners.
Your job as a Branch Manager is to play a vital role in placing the customer at the center of everything the Company does. You will lead a team of financial professionals, promote a culture of caring, develop branch team members, and help support your community.
Your role also involves building trust by listening to customers and providing essential recommendations to help them succeed financially. Furthermore, you will promote a strong team environment, celebrate your team’s hard work and successes, and provide value-added coaching.
As a Premier Banker, you are a trusted professional to the Company’s affluent customers and a respected partner to many financial professionals across the Company.
You will work in a Wells Fargo branch in an affluent-identified market and will work closely with Wealth Brokerage Services Financial Advisor, your branch manager, a dedicated affluent segment leader, and the rest of the branch-based team.
This team approach is important to serving the Company’s affluent customers, and keeping their needs at the center of everything the Company does.
You will interact with larger and more complicated customer relationships, serve as your customers’ relationship manager to uncover their specific financial needs and goals, and make proper introductions to Business Banking, Private Mortgage Banking, Wealth Management, and other partners.
Your job as a Premier Banker also involves demonstrating leadership by contributing to the Company’s culture of caring, that supports customers in achieving their goals.
Working in this role requires that you engage customers by phone with information and suggestions for new financial products and services, as customer service is the Company’s top priority.
You need to provide excellent service to customers that visit Wells Fargo by offering new products and services to help them succeed financially.
By pleasing every customer that comes your way, you are delivering excellent service. You need to also answer questions quickly in a friendly and courteous way, and use your banking product knowledge to expand customer relationships.
• Lead Teller
• Customer Service and Sales Representative (CSSR)
• Personal Banker 1 Registered
• Personal Banker 2
• Personal Banker 2 Registered
• Service Manager
• Assistant Branch Manager
• District Manager
• Senior Business Banking Specialist
• Business Relationship Specialist
• Business Banking Advisory Specialist
• Business Development Officer
• Region Bank President
• Business Specialist
• Sales & Marketing
• Human Resources
• Risk Management
• Information Technology
• Administrative Support
• Relationship Management
Wells Fargo Training and Development Programs
Wells Fargo is one of the biggest financial institutions in the US as well as one of the largest employers with more than 150,000 team members.
Wells Fargo has achieved tremendous success as a financial institution because of its focus in growing its people and technology.
The Company grows with technology such as computers, webcams, cell phones, i-pods, and other new technology devices, and these are reshaping the way they play, communicate, and plan their lives and where they work.
Through the Wells Fargo website, the Company provides information to its employees, customers, investors, and other users throughout the United States, Puerto Rico, and other countries around the globe. They allow their customers to make use of e-commerce which is a means to conduct business transactions to suit their needs.
New technology affects learning in the workplace, and the Company uses technology to reshape how they play, communicate; plan their lives and where they work.
E-commerce helps Wells Fargo to conduct business transactions throughout the United States and around the globe. They have been able to make use of the internet to communicate with customers wherever they are – at home or travel around the planet.
This universal collection of computer networks allows users to exchange data and information to meet the needs of customers. For employees to fully understand the process, they need the knowledge and computer skills.
Wells Fargo makes use of competitive advantage as part of their training offering professional, personal and financial development. Human resource managers begin to search for talented and qualified people to help them grow by offering programs that will increase their skills, knowledge, networking, discover mentoring opportunities, and expand their career options.
Wells Fargo offers leadership development, training, mentoring, and recognition programs as part of the professional development program. They also offer personal development by balancing the needs of the personal and work/life of their employees.
The personal development program also consists of time, health, and work/life assistance. The Company offers financial development to satisfy all financial needs of their customers, and help them succeed financially. They do this through offering retirement savings.
Wells Fargo Student Internship Program and Recruitment Process
Wells Fargo internship program made list 29th most attractive employer by US business students (Universum 2015).
Locations for the Internship Programs
The locations for the program include:
• New York
• Los Angeles
• San Francisco
Who They are Looking For
Wells Fargo looks for candidates who have interest in the financial services industry and experience working in a team environment. Candidates must also demonstrate communications, leadership, project management, and critical thinking skills.
Where they recruit
Wells Fargo recruits at information sessions held on college campuses throughout the U.S. They also have partnerships with MBA-related organizations such as the National Society of Hispanic MBAs, National Black MBA Association, Asian MBA, Reaching Out MBA, MBA Veterans, etc.
Wells Fargo is a Company that cares about people, according to a Company spokesman, where teamwork is valued and rewarded, where how the work gets done is just as essential as the work getting done.
Wells Fargo’s MBA internship programs are designed to harmonize lectures MBAs learn in their classes and put them into direct contact with senior leadership.
Wells Fargo Investment Banking Summer Associate Program, one of Wells Fargo’s MBA internships, offers interns the opportunity to explore what it’s like to be a Wells Fargo Securities associate in either investment banking or sales and trading.
Interns get to arrange and carry out transactions, perform research and analysis, prepare client materials, and participate in client meetings alongside senior management.
Opportunities for Advancement
Wells Fargo MBA internships allow the Company to determine what a future role and placement might be. When there is alignment between the skills of an intern and the needs of the business, it is normal for the intern to return to Wells Fargo as a full-time employee.
Wells Fargo Corporate Culture and Values
At Wells Fargo, there is a corporate culture that encourages employees to consider their own interests before that of customers; this is reinforced by the sales-at-all-costs culture.
Wells Fargo agreed to pay a record $185 million fine for the actions of its employees on September 9th.
The bank also must set aside $5 million to repay customers. CEO John Stumpf, in a letter to employees, called the employees’ actions inconsistent with the values and culture they struggle to live up to day after day.
Fargo agreed to pay the U.S. government $1.2 billion On April 8, 2016 for hiding most of its bad loans in the years leading up to the 2008 housing market crash.
The bank admitted it certified thousands of faulty home mortgage loans that were entitled to Federal Housing Administration insurance.
“Why did the bank follow these policies?” you may ask. The answer is the risk of loss was transferred to you and me which represent the U.S. Government, so that Wells felt free to make risky, subprime loans as a result of the effect of ethical risk. Ethical risk holds that a questionable action might be taken where the risk of loss can be transferred to another party.
It seems the original cause of the unauthorized accounts with customers’ monies was a sales culture that provided an incentive structure that rewarded employees on the more products they sold.
Some employees failed to open accounts requested by customers and, instead, built up a number of account applications to be opened at a later date, involving in “sandbagging.”
Another instance is some employees would tell customers that certain products were only available as a package with other ones such as bonus accounts, insurance or retirement plans; this time involving in “bundling.”
The culture at Wells Fargo allowed an incentive-compensation program to encourage sales practices without good oversight. Management is to blame for failing to put internal controls that help to stop such practices in the first place.
Wells Fargo Vision, Values and Goals
These give details of the enduring principles that guide all Wells Fargo team members in the work they perform on a daily basis, which involves serving customers and assisting each other.
Wells Fargo’s Vision
The Company has a vision of satisfying the financial needs of their customers and helping them to succeed financially.
This binds them together around a simple principle of serving customers better when they have a rapport with a trusted provider that knows them well, provides reliable guidance, and can serve their full range of financial needs.
Wells Fargo’s Values
Wells Fargo has five values that guide each action they take. These include:
• What Stands Right for Customers: The management of Wells Fargo places customers at the center of everything the Company does. The Company exceeds customers’ expectations and builds rapports that last a lifetime.
• People as a Competitive Advantage: Wells Fargo endeavors to attract, build, motivate and retain the best team members, and partner with businesses to serve customers.
• Ethics: The firm has committed to the highest standards of integrity, transparency, and principled performance; and they do the right thing, in the right way, and hold themselves accountable.
• Diversity and Inclusion: Wells Fargo values and fosters diversity and inclusion in all aspects of business and at all levels. Success comes from inviting and incorporating different perspectives.
• Leadership: Everyone at Wells Fargo is a leader. The Company wants every individual to lead themselves, lead the team, and lead the business – in service to customers, team members, shareholders and communities.
Wells Fargo wants to become the financial services leader in these areas:
Customer Service and Advice: Wells Fargo provides exceptional service and guidance to help their customers succeed financially after listening to and understanding their financial goals.
Team Members Engagement: Taking its team members to be their most valuable resource, Wells Fargo wants to be the employer of choice and a place where people feel included, supported and valued. They work as a team and everybody is respected.
Innovation: Wells Fargo teams create lasting value for customers, and increased efficiency for their operations through innovative thinking, industry-leading technology, and a willingness to test and learn.
Risk Management: This great Company wants to serve the needs of their customers and protect their assets, privacy, and information while working to set the global standard in managing all forms of risk.
Corporate Citizenship: Wells Fargo makes a positive contribution to communities through philanthropy, creating economic opportunity, advancing diversity and inclusion, and promoting environmental sustainability.
Shareholder Value: Wells Fargo wants to deliver long-term value for shareholders through a balanced business model, efficient execution, strong risk discipline, and a world-class team.
Wells Fargo Job Application – How to Start a Career (the Hiring Process)
Search for open positions that interest you, register and set up a profile in the Company’s job seeker database. Then save the jobs and searches; update your information and apply for positions so the recruiters will be able to locate your resume when they have open positions.
You need to create a Saved Search that will save your common searches and alert you when jobs that match your criteria are posted.
Ensure that you save you information as you work by choosing Next, Exit, or Save Later because the Company’s secure servers have a time limit.
The Application Process
You will need to fill out and submit the application, after which the recruiter or hiring manager will receive an email confirmation that they have received it.
They will review your profile, and will contact you directly if your background matches their hiring requirements.
The Interview Process
The Company’s interview varies by business group. The interview may come by telephone, in a group, or one-on-one with the hiring manager or recruiter.
Throughout the process, a Wells Fargo recruiter or hiring manager will be available to discuss next steps and expected timing.
Considering an Offer
When contemplating employment at Wells Fargo, there is much to take into consideration. You need to consider the Company’s vision, values and goals. You need to also think about the financial compensation for position, the benefits package, and the health of the Company.
You are encouraged to ask questions throughout the process and learn more about the Company so you can be fully sure of being the right fit.
Job Seekers with a Disability
There is provision of accessibility service for job seekers who require an accommodation in the job application process, such as people needing assistance due to vision, hearing, or mobility, or cognitive impairments.
Application for accessibility assistance or accommodation by job seeker with a disability or someone assisting another person with a disability should be made to the Company by submitting a request by phone or contact the Company through this email link: accessibilityForJobSeekers@WellsFargo.com.
Your contact information and specific details about your requested accommodation should be included to support the job application process.
You can contact the Company at 1-877-255-1606 (Voice) or 1-800-988-0161 (TTY) to request assistance by phone.
Note that the above email address and telephone lines are particularly for job seekers who have disabilities and are requesting accessibility assistance or accommodation in the job application process. If you do not require accessibility assistance or accommodation, do not call about the status of your job application.
Messages left for other purposes will not receive a response, such as following up on an application or non-disability related technical issues.
Benefits and Compensation for Working with Wells Fargo
Wells Fargo struggles to attract, develop, engage, and retain the best team members, valuing and supporting its people as a competitive advantage. They go further to collaborate across businesses and functions to serve their customers.
Wells Fargo is a place where people feel included, valued, and supported; where everyone is respected, while working as a team.
Have a look at the numerous benefits Wells Fargo provides to all its team members as they are listed below.
Wells Fargo provides comprehensive and competitive medical, dental and vision benefits. The medical plans offer preventive care services covered at 100 percent prescription drug benefits, mental health and substance abuse coverage and a network of doctors and hospitals to help you and your family develop or sustain your health.
The Company’s culture supports team members wherever they are on their health and well-being journey. They provide tools and resources to keep the healthy members healthy, and those with current health care needs and those who may face health problems in the future can begin to make positive changes.
Parenting and Critical Care-giving Leaves
Sometimes team members need a time away from work to help care for their loved ones. Wells Fargo makes provision for this and up to 16 weeks of paid parental leave for primary caregiver and up to 4 weeks for a parent who is not the main caregiver to care for a new child following birth or adoption. The child or adoption leave is available after one full year of service.
Additionally, the Company makes one regularly scheduled workweek per year of paid critical care-giving leave available to care for a parent, partner, child, or spouse with a certified severe health condition.
Team members can also get up to five days per calendar year of in-home, back-up adult care for themselves, their elderly parents or parents-in-law, an ill partner or spouse, or for a child who is 18 years or older.
Paid Time Off
Wells Fargo provides to its members time-away benefits which include a variety of competitive options to accommodate various needs and life events such as time off for vacation, illness, care for a member of a family, volunteering, the birth or adoption of a child, the loss of a family member, and more.
As a full-time member, in your first year you will have 18 days of paid time off (PTO), and you can expect periodic increases to your PTO throughout your stay at the Company.
The Company also offers 12 paid holidays such as personal holidays that can be used for family, religious, patriotic, cultural, community or diversity observances.
Wells Fargo provides the 401(k) Plan to help you save for retirement and achieve a financial success. After completing one year of service, your contributions will be matched dollar for dollar up to 6 percent of your eligible pay on a quarterly basis.
Wells Fargo further makes an unrestricted profit sharing contribution to your 401(k) Plan account based on Company performance.
Discounts and Savings
To support your financial health, Wells Fargo offers special discounts on the Company’s financial products and services that are typically offered to the Company’s best customers.
With the Commuter benefits, you can save money when you pay for mass transit or parking on a pre-tax basis.
Throughout the Adoption Reimbursement Program, Wells Fargo provides up to $5,000 for eligible adoption-related expenses.
The Education Benefits include Tuition Reimbursement and Scholarships for Dependent Children.
• Tuition Reimbursement: Wells Fargo encourages and supports your professional development through the Tuition Reimbursement Program. The Company reimburses you for eligible tuition expenses up to $5,000 annually.
• Scholarships for Dependent Children: Wells Fargo offers several scholarships to children of team members every year. You can arrange for your own children to apply to receive awards ranging from $1,000 to $3,000.
Wells Fargo Work/Life Balance
The Work/Life Balance at Wells Fargo is rated a B by 531 employees putting it in the Top 30% of similar size companies in the US. 66% of Wells Fargo employees are satisfied with their work/life balance while 44% feel they are burnt out.
About 68% of the employees at Wells Fargo work eight hours or less, while 4% of them have a very long day – longer than twelve hours. The Majority of Wells Fargo employees are satisfied with their work/life balance and do not feel burnt out.
In general, employees in the Design department and employees in the Business Development department believe they have good work/life balance while employees in the Communications department and employees who have been with the Company for 2 to 5 Years believe there is room for improvement.
Employees need a well proportioned work/life balance both for home and workplace advantages to keep them happy and productive.
This post helps you with information to increase your knowledge of jobs, employment, and careers at the Wells Fargo so you can make the best decision about your career if you are thinking of working with Wells Fargo.
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