Wells Fargo Is Hiring: What It's Really Like To Work There
Wells Fargo is the No. 1 home lender in the country. That has some downsides. Like having the kind of deep pockets that results in paying a $175 million settlement for allegedly peddling pricier mortgages to blacks and Latinos. But it also has some upsides, like hiring a lot. And being a pretty great place to work, according to most employees.
The financial services company has 280,000 "team members," according to its brand manager Aaron Kraljev, and is constantly on the hunt for new talent to fill positions as tellers, bankers, online customer service reps, and in the home mortgage department. Wells Fargo currently has 1,379 openings on CareerBuilder.
And the attitude they're looking for is an entrepreneurial one, he says. "We don't work in an environment that's heavily managed." And the self-starters may have a lofty climb ahead of them. A Wells Fargo personal banker in Denver wrote on Glassdoor.com that the "possibilities to get promoted are endless." Kraljev claims that a former company president started in the mailroom and after 40 years made it all the way to the top.
The salaries are roughly in line with the competition. The average teller makes $10.83 an hour, according to Glassdoor.com, slightly less than at Bank of America ($11.25 an hour) or JPMorgan Chase ($11.12 an hour), while a personal banker earns $35,198 a year, a smidge higher than at BofA or Chase ($34,920 and $34,363, respectively).
"Where we really shine is in terms of benefits," says Kraljev, and most employees on Glassdoor.com agree. Wells Fargo workers rave about the 401(k) match and paid time off. They can even pocket their daily wage if they're volunteering for a day. "Wells Fargo is very focused on bettering the communities we do business in," explains Kraljev. "We track every year how much time we spend in the community."
Some employees are irked however by what they see as the stick that comes along with this carrot. "They will fire you without hesitation no matter how great of an employee you are in all other areas if you don't meet minimum sales requirements," writes one teller in Austin, Texas, on Glassdoor.com.
"Very sales driven, even to the point of unethical behavior," chimes in a personal banker in Denver. Which appears to be ever so slightly confirmed by the massive settlement Wells Fargo reached this week for allegedly taking advantage of minority customers.
"They want you to produce, but not be immoral," disagrees a former personal banker in Scottsdale, Ariz., on Indeed.com. "It can get difficult and competitive, but if you are competitive, it can actually be fun."
Diversity is actually one of Wells Fargo's crowning glories. For the last three years, Human Rights Campaign named Wells Fargo one of its Best Places to Work for LGBT Equality. And Wells Fargo is currently setting its sights on recruiting the young. This summer, Wells Fargo committed to hiring 1,000 young people as part of the White House's Summer Jobs+ initiative.
"For a recent college graduate, or someone going into college, the job market is frightening," says Kraljev. "We want to help jobseekers understand that Wells Fargo isn't just a place for seasoned professionals and executives, but for people just starting their careers."
Wells Fargo offers tuition reimbursement, and is willing to work around students' schedules. "If they get in while they're young, we can help them flourish," explains Kraljev.
Interested applicants can check out and apply to advertised Wells Fargo job openings on CareerBuilder (an AOL Jobs partner) or wellsfargo.com/careers. (Wells Fargo, working to beef up its social media, also says that it has openings posted on its social media accounts). The hiring process can be quick and painless, as evidenced by one Wells Fargo employee who claimed on Glassdoor.com that she applied, had a group interview, a one-on-one interview and was hired -- all in the space of one week.
Kraljev advises applicants to read the lengthy job description closely, find the bits that match their resume, and "frame your experience in such a way that helps bring those things to light." If you're going in for a sales position, after all, you have to know how to sell yourself.
Are you looking for a job at Wells Fargo? Start your search here.
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Claire Gordon has contributed to Slate's DoubleX, the Huffington Post, and the book Prisons: Current Controversies. While an undergraduate at Yale University and a research fellow at Yale graduate school, she spoke on panels at Yale and Cornell, and reported from Cairo, Tokyo, and Berlin.
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