@2xlq+1mRz58MV … I left a few months ago but still have a lot of friends at WF who are looking to leave. Just posting about my new gig. NFCU is a good place to work, normal problems but culture is good.
26 replies (most recent on top)
What a terrible place to ask this question. The vast majority of people here have an axe to grind and are hardly impartial. That said, if you want to get a sense of other companies go to their pages on this site. You will get the same disgruntled people.
Wells is no better or worse than most corporations. The real problem isn't the "corporation" as much as your manager and their manager. A good management structure can shield people from a lot of the corporate nonsense. I'd take a bad company but great managers over a good company with bad managers any day.
@1bcn+1mRz58MV if you left, why the h are you still lurking around here?
The back stabbing mfu&kers at wells are the worst. Lots of perverts work here. Charlie and the minions fit into that category
@1iwj+1mRz58MV, where do you get the statistic of "5-34 active perverts skulking around". How do you spot them? Why so many? I can't stop laughing.
Left for Navy Federal Credit Union … awesome. Salary comparable, slightly better bonus and remote. Few of their jobs are remote, but more and more offering that option. Vienna, Va., Winchester, Va. and Fla are their hubs. So far so good, no complaints at all. Benefits are better, too.
If you're a diversity hire you'll be just FINE :)
BAC - Confusion and temp bank. Will hire 100 people to a project and cancel it 5 months later letting everyone go. Everything is in startup mode all the time.
JPM - Watch your back bank. May have had stack ranking longer than others. Walk with your back against the wall. Employees are back stabbers and they have refined it over the years. Your manager will do it. Mine did.
Citi - Lack of personality bank. Go ahead, ask anyone there for help doing something. Silence or worse. Constant leadership changes.
All of the big banks make money just because of volume. With stock buybacks, bad loan credit loss pool manipulation, asset classification moves, selling and leasing back assets and fees they make money. IF you were really making money does it make sense to buy back a $40 stock that only costs you $1.20 a year in dividends.
Sounds like the common denominator is JPM people. They definitely brought their "my way or the highway" attitude to Wells.
What you are seeing today is the gold standard for big banks. WF was an anomaly for many decades. Welcome to the banking industry Wells Fargo.
Every major campus has anywhere from 5-34 active perverts skulking around.
They LOVE RTO. But they're not opposed to webcam where they can just endlessly stare at whomever they wish.
Wells Fargo is the worst
I've worked at several banks and can say that most of the time it just depends on your org. Most areas are made or broken due to managers and then 1 or 2 up. That said I've never seen the BS that came with the introduction of JPM management to Wells, it has permeated through almost all levels and morale has tanked because of it. Bringing in forced ranking when enacted correctly has been proven to be effective short term to eliminate employees that need to be let go. Unfortunately it has also been proven that long term it eliminates employee trust, stops collaboration and actively sets employee against employee, this is the type of thing that JPM management hold in esteem.
I was fortunate to leave and only wish I had done sooner, (I come on this site every-so-often as I have friends and former colleagues I care about) my current manager was shocked to hear forced ranking is still used in the financial industry.
I say get out as soon as you can, unless of course you came from JPM where of course you will be held above any legacy workers and get promoted regardless of skill and talent.
nope. b of a and chase are much, much worse
there's a reason that people are willing to come here from those banks and it isn't because we pay the best.
It is all H1b everywhere. We are taking them in and training them.
https://www.cnbc.com/2023/05/29/record-youth-unemployment-stokes-economic-worries-in-china-.html
When I worked @ JPMC it was bad, started good ($$$) but then when the ratings and rankings came, it got bad fast. The managers was one thing to deal with but when you have peers working against you, it goes downhill fast... Most major institutions use this system. The only way to avoid is go to a small-medium institution.
I'm at a smaller one, and it is comical the way they work. It's like the 60s or something, and every task involves like 10 people and then you fill out 5 databases with the same information on the task you finally completed. Plus they fax stuff to themselves all day to get something in a queue to be passed around to be worked on eventually. I didn't like WF but at least they weren't insane like these folks.
@utn+1mRz58MV hits it sm--k on the nose and I couldn’t agree more. I’ve worked at 4 banks in my career. The large ones were fairly similar and WF was good before JPMC came in and destroyed it. I’m at a smaller bank. I’m a bit bored, but have zero stress. No fire drills, no one screaming, no useless PowerPoint decks, no RTO.
I'd have to say they must be worst than WF (was). WF culture didn't tank until AFTER the other major bank retreads came on board here. They introduced stack rankings, use of the term 'firm', 'thinning the herd', no more team members in lieu of employee. Their pettiness and lack of respect have permeated the entire organization and like a cancer will only keep progressing until the host is dead.
JPMC had better morale because it was doing very well as a company but people were not pleasant.
@atn+1mRz58MV "Quality of headcount" ? ROTFL.
@wmj+1mRz58MV. Correct, @atn+1mRz58MV is definitely a troll post or paid WF HR to make the bank "look good".
I worked at a total of 5 other banks. Your not going to like what I'm about to tell you. Wells Fargo has been the best. Pay, bonus, benefits, quality of headcount. The employees who have been here for a long time are some of the best in banking. Could be you're the dead weight and think your something special.
OP here- I'm talking about people dragging good performers down, gaming the system, sabotaging them (with the stack ranking in mind). Gauging if it's more the culture here or is more widespread across banking in the past few years.
Nothing is as bad as Wells Fargo. Charlie has massacred our company. F him!!!!!!!!
Yes, since most people just rotate from bank to bank, they are all the same. Many many many people are unprofessional. Better to leave the banking industry and work in a different field.