I've heard quite a few of WF employees left to go work for FCB. Anyone willing to share their experiences? Any regrets?
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This bank used to have a lot of 100% remote positions, but they gradually started converting them to a hybrid position one by one. So if you get hired for a 100% remote position now, but if you are not in a hub location, you will be in danger of getting laid off when your position becomes hybrid.
Some folks from legacy SVB su-ks and toxic
I worked at SVB for a year in between Wells Fargo positions. What a cluster. All I can say is run, run, far away. I used to tell people SVB made WF look like a well oiled machine!
Wachovia's strategy was to grow fast and quick
Lower salaries for sure. There are also displacements still happening with more likely. The high salaried ‘big bank’ holdovers from SVB are top targets; however, it isn’t even close to WF chaos. At the moment, they have their heads massively far up their arses thinking they have this whole banking thing wired tight (exactly like SVB did) and don’t need to listen to anyone. They haven’t fully figured out offshoring but picked up an India ops/tech unit with SVB and the lightbulbs are going off. In some spaces, they have accepted that the talent they need doesn’t exist in Raleigh, so they are semi-open to remote. But they don’t like that and want to make it more and more of a rare exception. There will be a better structured CLT office with in office expectations someday. There is now, but it isn’t being used much. Eventually, it will be the same story of a front office that has raced far ahead of what is prudent for their duck taped systems/processes/controls band aided together post-acquisition. I’d say it has a few years left before it gets too difficult though for most workers. Also, it’s privately held by the Holder family. ‘The family’ as people say there. It has a creepy, cultish vibe to it. I’ll just say that if you’ve been to a couple of town halls, you’ll come away thinking that Stumpf/Sloan sounded like next level geniuses in comparison. As none of them have ever worked a day in their lives anywhere else, they truly don’t understand how old the , ‘We’re special. We’re different. We’re unique.’ tripe is to the rest of the world. Their main/only strategy is to grow fast and quick. We’ll see how it goes. Net/net (if you can get a comp exception), it is a greener pasture than WF. For now.
Good friend who was at Wells with me went to SVB but was able to stay at FC after SVB failed. Works from home 100 percent and loves it, but did tell me that salaries are lower there. But likes it. He’s in the Charlotte area and goes to Raleigh like 3 times a year for in-person meetings.