I was a Credit Manager for Wells Fargo Financial for almost 2 1/2 years, and I cannot believe I stayed that long.in the time I was there, I had gone through 2 managers, 2 DM's, 2 RM's, and maybe 15 other Credit Managers whom which either were fired, quit, or made-to-quit.
I should have known I was stepping into a bad career when within the first 2 months, I had already seen 3 employees quit, one in which started after I begun working, only to leave about a month later.
My first manager was dishonest about everything from money to be made, job satisfaction, and even to the customers. He told me I would be making $60k a year, loving life, enjoying a fun work place. After the fact, my starting salary was $30k, and my bonuses couldn't ever be more than $2500, and that was if you ended up closing 4 or more mortgages, which we all know, in that place, is nearly impossible to do on a consistent basis. Some people did it, but just found out they were fired for manipulation of data and forging signatures!
I was working far more than the 40 hours I was told I would work, and never got paid overtime. I confronted my manager after 2 months and asked about overtime in front of the other employees (they had told me we won't ever be paid OT), and he pulled me in the booth (I'm sure we've all been in there at some point), and screamed at for bringing up that subject with everyone around. And it never got resolved.
A few months later, he was fired because so many employees had resigned and complained about him, only to be replaced by someone with a bigger ego that him.
At first, we all were excited to have someone fresh to the office who would give us some good direction. However, he belittled everyone who was working there, not only in front of the whole office, but outside of work too. We would get harassed for not going out to drink with him after work or the weekends (he just got a DUI a few months ago). My best friend just got laid off there by him, right as he was leaving for vacation. Taking PTO was like pulling teeth. I felt like I could never take a vacation because it was too nerve-racking to hear what his response would be.
Onto the products and loans. I have never seen so many high-rate credit cards in my life, with annual fees on top of that!!! We were made to sell so many of them, all to people with enough credit card debt to force them into bankruptcy. I felt sick everyday because I would have to sell people things I knew wouldn't benefit them. Granted, some loans were the only thing they would have left, but come on, 4 points on every mortgage sold to customers. And auto loans that would leave these people stuck in their cars they thought they could get rid of. And the rates on the mortgages were outrageous! I would never refi my house will Wells, even if it were the last place I could go.
Now that I have a new job, in a completely different field, I have been so much happier, and everyone can tell. I hope whoever works at Wells never has the experience I had, and the majority of the other people who are still working there too.
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