41. Wells Fargo & Co.

Contact Info

420 Montgomery Street

San Francisco, California 94104

Web site

More info

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Undergrad Internships

No. of undergrad internships in:

2005: 128

2006: 167

2007: 171

2006 interns from the following classes:

0% Freshman

0% Sophomores

0% Juniors

100% Seniors

0% Graduates

2006 interns from the following majors:

54% Business

0% Computer Science

11% Economics

5% Engineering

0% Liberal Arts

0% Math

0% Science

0% Undeclared

60*% Other

100% of internships paid

0% of internships unpaid

Is there an offical summer internship program? Yes

Average length of summer program: 8 weeks

Minimum: 8 weeks

Maximum: 12 weeks

Average hourly wage: $19.14

Are interns paid on lump sum basis? No

Average total intern compensation: $10,000

NA% of eligible 2006 interns received full-time job offers

NA% of interns with offers accepted

NOTE: The Other category for college majors includes numerous majors in the liberal arts and economics category, as well as others.

Applicants & New Hires

537 undergrad campuses where employer recruited 2006-07

NA undergrad campuses where employer made job offers

Applicants for entry-level jobs

2005: 1,198

2006: 2,869

2007: 1,496

Entry-level hires

2005: 219

2006: 196

2007: NA

Entry-level hires who were undergrad interns

2005: 11%

2006: 13%

2007: NA%

Most important characteristics for new hires:

2-Communication Skills

1-Leadership Skills

3-Work Experience

2006 new hires majored in:

54% Business

0% Computer Science

11% Economics

5% Engineering

0% Liberal Arts

0% Math

0% Science

0% Undeclared

30*% Other

...and are:

6% African American

9% Hispanic American

20% Asian American

1% Other

36% Total minorities

43% Female

NOTE: The Other category for college majors includes numerous majors in the liberal arts and economics category, as well as others.

Salary & Benefits

Entry-level hires since Jan. 1

Average base salary: $40,000 to $44,999

NA% earn less than $35,000

NA% earn $35,000 to $39,999

NA% earn $40,000 to $44,999

NA% earn $45,000 to $49,999

NA% earn $50,000 to $54,999

NA% earn $55,000 to $59,999

NA% earn $60,000 to $64,999

NA% earn $65,000 to $69,999

NA% earn $70,000 and above

Bonuses, Overtime & Perks

NA% received signing bonuses

Average signing bonus: $NA

75% received performance bonus first year on job

Average performance bonus, 2006: $4,150

2% of 2006 entry-level hires eligible for OT

98% of 2006 entry-level hires not eligible for OT

Reimburse employees for ed expenses?: Yes

Do employees become eligible immediately?: No

Maximum annual education reimbursement: $5,000

Full grad school sponsorship for jr. level employees? No

Partial grad school sponsorship for jr. level employees? Yes

Time Off

Is there a Paid Time Off (PTO) Bank? Yes

If no, total paid vacation days:

During first year: NA

After 1 year: NA

After 3 years: NA

After 5 years: NA

After 10 years: NA

Total paid holidays: NA

Time off for religious observances: NA

If yes, max PTO days:

During first year: 25

After 1 year: 25

After 3 years: 25

After 5 years: 25

After 10 years: 30

Total days off for religious observances: NA

Is flex time available? Yes

Sick, personal days, first year: NA

Health Benefits

Do entry-level hires have access to health plan? Yes

Employees pay part of the cost? Yes

Does health plan provide dental coverage? Yes

Extra charge for dental coverage? Yes

Does health plan provide vision coverage? Yes

Extra charge for vision coverage? Yes

Are same sex partners permitted as dependents? Yes

Pension and Profit-sharing

Do entry-level hires have access to 401(k)? Yes

48 months to full vesting in 401(k)

Max. company match as a percentage of salary: 6%

Min. employee set-aside as a percentage of salary to receive max. co. match: 6%

If 401(k) match not calculated as percentage of salary, explain:

Are entry-level hires eligible for co-funded pension? Yes

Months to full vesting in co-funded pension: 60

Are entry-level hires eligible for profit-sharing program? No

Months to full vesting in profit-sharing program: NA

Maternity/Paternity Leave

Maximum Maternity Leave

NA* days during first year

NA* days after 1 year

NA* days after 3 years

NA* days after 5 years

Maximum Paternity Leave

NA* days during first year

NA* days after 1 year

NA* days after 3 years

NA* days after 5 years

Other Benefits

Does company match employee charitable gifts? Yes

Max. annual company match for employee charitable gifts: $6,500

Does company pay relocation expenses? Yes

Max. annual relocation expenses? $NA

Employee Discounts

Car rentals

Gym memberships

Cell phone/service

Insurance

Cultural events

Publications

NOTE: The Short Term Disability Plan is available to all employees after one month of employment; for maternity leave the program generally provides mothers a minimum of six to eight weeks of pay, and more if there are complications.(All of PTO time can also be used for maternity/paternity leave.)

Work Environment

40 hours worked weekly by entry-level hires on average

Does average vary by business unit, department? Yes

Entry-level hire work locations...

NA% in open work stations

NA% in cubicles

NA% in shared offices

NA% in private offices

NA% have no company-supplied work space

Does organization monitor e-mail?: Yes

Does organization monitor Web usage? Yes

Typical dress code

Business Casual

Casual Fridays

Casual

Formal/Business

Does organization sponsor employee volunteer opportunities? Yes

Does organization offer employee daycare? Some locations*

Does organization have fitness facilities on site? Some locations

NOTE: Wells Fargo has a contract with a third party to provide emergency back up child care in certain locations.

Training Programs

Does your organization have a formal orientation program? Yes

If yes, how many days is it? 5

Orientation includes:

Computer Training

Guest Speakers

Diversity Exercises

Team Building Activities

Tour of Facilities

Review of Wells Fargo's history, vision, values and culture

$5,000 average spent on training, per new hire, in 2006

Is there a formal leadership program for entry-level hires of a year or less? Yes

Technology Information Group Leadership Development Program

Do candidates apply directly? Yes

If not, how is eligibility determined? NA

When are new hires first eligible? Immediately

Is program rotational? Yes

If yes, number of locations or business units: 2

Minimum rotations: NA

Maximum rotations: NA

Length of program, in weeks: 52

Minimum: NA weeks

Maximum: NA weeks

After program, employees offered permanent positions: 75% to 99%

After program, do employees offered permanent position receive raise? No

If yes, amount of typical raise: NA

Is there a formal leadership program for entry-level hires of a year or more? No

NA

Do candidates apply directly? NA

If not, how is eligibility determined?

NA

When are new hires first eligible? NA

Is program rotational? NA

If yes, number of locations or business units NA

Minimum rotations: NA

Maximum rotations: NA

Length of program, in weeks: NA

Minimum: NA weeks

Maximum: NA weeks

After program, employees offered permanent positions: NA

After program, do employees offered permanent position receive raise? NA

If yes, amount of typical raise: NA

Does company have formal mentorship program? Yes

NA*% of entry-level hires participate

5* days of additional training expected

NOTE: Mentoring programs are both formal and informal, and aren't tracked company-wide. Wells Fargo estimates that 20% of all employees particiapte in a mentoring relationship.

Wells Fargo's online Learning Center allows all employees to register for learning opportunities (with their managers' support) to help strengthen their on-the-job skills, prepare for a new role in Wells Fargo, or learn more about Wells Fargo's businesses.

Getting Ahead

Three-year retention rate: 70%

Five-year retention rate: 56%

How are raises determined?

Performance and Seniority

When are entry-level hires eligible for first raise? One-year anniversary

How are promotions determined?

Performance and Seniority

When are entry-level hires eligible for first promotion? One-year anniversary

Evaluations

Frequency of evaluations

Annually

Important qualities

2-Leadership Ability

1-Learning Ability

3-Sales/Revenues

Min. tenure in years required for job change: 1

Describe any rules that apply:

Long-Term Prospects

Does position of VP exist at this organization? Yes

If not, is there a comparable title? NA

No. of employees who hold VP or similar title: 10,906

No. of employees with VP or similar title with 20 years plus seniority: 2,455

Age of youngest employee with VP or similar title: 22

Seniority of youngest employee with VP or similar title in years: 4