Wells Fargo reviews

They promote work life balance but it’s impossible given aggressive objectives you must meet. Pay inequity is abundant because they hire externals at much higher compensation while internals who are performing and have dedicated years to the company are not given sufficient increases and are capped at 3%. As a Recruiter I need access to salary information and see this first hand with hiring. Change management is unorganized, they constantly implement new processes that do not improve efficiency and they frequently reorg teams (I’ve had 7 different managers within my 8 years here). Procedures they create are overly complicated and unnecessary which makes it difficult to complete simple tasks and decreases productivity. Since Charlie Scharf became CEO he is changing all aspects of the culture that employees coveted such as removing team building functions (except at the executive level), eliminating focus on employee development, withholding 401k match until year-end, laying off hundreds of talented employees due to location strategy, stopping stagecoach interactions for volunteer events, and closing the WF museums erasing the pride and history of what the founders built. There’s extreme pressure and unrealistic timelines on leadership which is impacting employees down the chain and leading to burnout. Charlie seems to be only focused on the bottom line and employees are just a number now. You are not valued no matter how hard you work. This is no longer the Wells Fargo and the culture I was excited to join 8 years ago.

These are not necessarily the negative things ( I didn't like them) 1. Work From Home is not completely on employees discretion- It is mostly (95%) depends on situation and managers decision 2. Though they have 2 appraisals in a year. For Average performer the annualized hike is (4%-7%) and for above track it is anything between (9-13%) 3. Role change (promotion) from level 2 to 3 is easy, 3- 4 is challenging but role change after band 4 are very difficult. 4. There is 18 months (mandatory) wait period for any role change (upto level 4) above that it goes to 24 months (or more) 5. On role change hike is dependent on benchmark, you will get around (15-20%) from u r current package 6. For 80% of people work is monotonous, difficult to survive if you don't get above track rating in any of your appraisal (4-6% increment in a year) 7.1st Appraisal cycle is from Jan to Jun (increments are effective from Oct - paid in Oct salary onwards), similarly 2nd Appraisal cycle is from Jul-Dec (increments are effective from Apr - paid in Apr salary onwards)- Variable payout is in Apr salary (26 Apr) 8. 90 days notice period 9. Very few people got functional business knowledge