Wachovia Salaries, Bonuses and Benefits.

rose thompson in Clayton, North Carolina said: i'm trying to get on as a bank teller, i'm working currently as a manager but i want to get in a different career field.

I have been reading the topics surrounding this company. It seems like there is alot of disgruntled persons looking for a different avenue, different environment, maybe one that delivers instead of empty promises. I am willing to help you with different opportunities that would seriously help the members of this board. Please feel free to email me your resume at 100krecruiter@gmail.com at which time I will review it and find a fit that might interest you. The sooner you send it to me the faster things can change.......hopefully dramatically. Last but not least, I am based in Marietta but I operate within all 50 states.

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Run, don't walk away from ANY employment opportunity with Wachovia. They tout work life balance but would not know what life is. The have conferences calls almost everyday and berate you but expect you to produce more.

Few have hit the nail on the head about the FS, TM, FCM and teller positions. However, none have mentioned having to work six Saturdays per quarter. The salary is unfair since they seldom give all who deserve it a raise so they can boost folks salaries in comparison to new hires.

Gallup is a joke that robs you of your commission. If you are not at least in the yellow or green zone you loose that bonus over your salary amount monthly. One bad score from any ONE person in the branch can take away all of your effort for the month.

The point about having enough time to study for the exams is a crock. The fact is most of your success is 50% your ability and 50% demographics ie are you in a branch that is likely to be robbed, run down/bad area of town, weak property values and goodness forbid folks who don't speak English. You have to juggle keeping a happy face, learning new promotions weekly and better than 60% of the time focused on shoving products (lines of credit/Pick a Pay/debit cards/credit cards) down folks face even when they don't need it nor would benefit.

They have won customer service awards for the last seven years but would rank a zero amongst the majority of the workforce. Those applying and have not gotten a call back, thank the overworked and unorganized HR group.

I would not recommend my worst enemy apply for this company. Oh, the person who suggested they can ruin your health was not kidding. Also, most of the FAs are a joke and only care about getting mutual fund sales. I have yet to see one yet really do financial planning.

Figure out legally how to make the system work for you if you are an employee and if you are applying keep looking and at least get paid more money. The culture there is a nightmare.

I work for Wachovia as a service transaction specialist. This company is just horriblt to work for!!! I have worked at other banks and none of them has been so bad to work for as this company. The management are all horrible and don't give a darn about their employees. The management only cares about themselves and don't care to help their employees, or find out what their long term goals are with the company to help them move up. Instead of promoting from within the company Wachovia always brings in new employees. All my coworkers in my financial center feel like they are stuck in dead end positions. This company is a very stressful co. to work for, and the gallop polls are just freakin ridiculous. Two bad gallops and they can terminate you. If You are thinking about working for wachovia be prepared for always being put down by your management, and never doing anything good enough for them. I wish Wachovia never had merged with World Savings. World Savings knew how to take care of their employees!!! But not wachovia.

I am interested in the Branch Operations
Specialist I position (entry-level) with Wachovia in
a pretty competitive southern city (not Atlanta).
Is it possible I can make 40K - 45K??????
What else could I expect as far as salary and
benifits?

Thanks!! This is the information that I have been searching for. This is real talk!!!!

bank girl in Duluth, Georgia said: I work for wachovia and I am in the training still It is a long long long process. My point is to tell you that you can pass the series 6 and 63 without a problem I did it on the first try and I am a stroke victim that did not even open the 63 book until the day before I took the exam. The reason why people did not pass and were fired is because they did not take it seriously. It is self study and it takes dicipline. you can not expect to skate through it. You have to read it 24/7 until the day of your exam, do the practice exams on the computer and in the book and listen to the cd's when ever you are in the car. They give you all the tools to pass the exam trust me. You can do it, but you have to realize that you are not going to have a life until all 4 exams have been passed. It isn't hard if you prepare. out of 11 people in my class only 6 are still with us, but I know it is because people did not take it seriously...

Thank you so much for this information. This is exactly what I was was looking for. I am in the process of interviewing for a fs position here in Atlanta. How long did it take to get hired and go through the whole process?

bank girl in Duluth, Georgia said: I work for wachovia and I am in the training still It is a long long long process. My point is to tell you that you can pass the series 6 and 63 without a problem I did it on the first try and I am a stroke victim that did not even open the 63 book until the day before I took the exam. The reason why people did not pass and were fired is because they did not take it seriously. It is self study and it takes dicipline. you can not expect to skate through it. You have to read it 24/7 until the day of your exam, do the practice exams on the computer and in the book and listen to the cd's when ever you are in the car. They give you all the tools to pass the exam trust me. You can do it, but you have to realize that you are not going to have a life until all 4 exams have been passed. It isn't hard if you prepare. out of 11 people in my class only 6 are still with us, but I know it is because people did not take it seriously...

I am applying for the FS position as well, where can I find info or books on the series 6/63 exams? I looked online and Barnes and noble had nothing!

I see many questions and opinions concerning Wachovia and mainly its FS positions. Being an FS for Wachovia is most likely similar to any large banking institution. The model is to hire as many FS as possible. They prefer young and just out of college. Many new FS' do not have the "call reluctance" of older or burned out FS employees. If cold calling is not your cup of tea, then you better hope you have a large family or data base to tap into. Otherwise it could become quite discouraging. It is not unlike the Mortgage industry. There are way too many Loan Officers and Financial Specialists in the industry. If you are lucky enough to get assigned to a Bank Branch and receive leads, consider yourself fortunate. Be patient, learn the business, and be aggressively honest and informative to your clients. If you are young, try and build a data base the right way. You will outlast the "dime a dozen" data entry people right out of college that you are competing against. Do not get discouraged based on your first to third years income. I know you will have minimum production standards. Worse case scenario-you get the experience, get the license, and take your knowledge to a small locally focused bank. Better to be a big fish in a small pond as an FS if you ask me. I could be wrong. What are your alls thoughts out there?

Hello everyone, just found this website and this is exactly what I was looking for. Quick question for anyone in the central Florida market already with Wachovia.

I recently applied for an FS position. My background is with State Farm Insurance for almost 3 years selling Insurance and financial services to include annuities, car loans, mortgages, life..pretty much everything.

I'm an office manager for a local State Farm agency and hold my 2-15 Life and health, 2-20 general lines agent, NASD series 6 and my Florida mortgage brokers license. I hold three college degrees with one of them being a BS in Management. Prior to my time with State Farm I was in the Air Force for 6 years. I applied on a Saturday and was contacted Sunday by a recruiter. Realistically what can I expect to start off salary wise?

Thanks for any info..

Im an FS in California and I am on pace to make about 50k in commission this year.

P.S. All of the people who b**ch and complain about Wachovia are the ones who cant do their jobs. Its not that hard. You just have to be smart. Not everyone is smart and not everyone is cut out for a job with Wachovia. If you know how to work with Wachovia you can make a decent amount of money.

Every company has its ups and downs and the thing that matters most is what motivates you. I could care less if management is nice to me. Im here to make money and thats what I do. I am satisfied with my pay. I earn my pay.

So if you need to be treated like a little baby and have someone hold your hand every step of the way then this is NOT the right job for you. Go back to Kindergarten.

Wow. Something hit a nerve with you. Well enjoy collecting your unemployment and food stamps.

Also, what does "layed off" mean? Not familiar with that term. If I were you I would go back to the University of Phoenix and demand my money back.

California987 in California said: Im an FS in California and I am on pace to make about 50k in commission this year.

Whoa, I'd slow it down a bit if I were you...if you are making that much in commissions they WILL find a way to "let you go!" I made a lot with Wachovia also, but now my U-5 is messed up because of their deceitful management practices. I was one of the lucky few who was able to find another banking position, but it was only b/c mgmt at the new place knew people at Wachovia that explained what was going on. Save ALL your money! You'll need it, as you will lose your vacation time and won't get any severance pay. I'd take the experience you got with Wachovia and go somewhere else before it is too late! By the way, good riddance <Edited by Host: Name Removed>! Although, getting fired with millions in your bank account is a lot different than what you did to all of us FS's that got fired to try to save your butt!

I read in a previous post about vacation days being taken away.
Was this based on fact/experience, or rumor?
I have a good number of days banked (sorry, bad choice of verbiage), and would like to use them as a buffer if my job were to evaporate soon.
Do any laid-off or fired Wach employees care to offer advice?
Thanks!

After reading all the posts on this board about working with Wachovia, and specifically the FS position, it sounds alot like my former company(Countrywide) and its Account Executive spot. With any big bank/company you will have some that love the place, and many that dont. Not everyone is cut out for the politics that corporate america has. I have seen both sides of the fence, and can say that the sides posted here Ive seen personally too.

As always with any company, YMMV...

I am a new college graduate and just spoke w/ someone in Wachovia HR.. and I did a phone internview and I have a face 2 face in a few days. I have plenty of cutomer service and expierience and cash handling as well as a college degree. Does anyone know what I should say if they ask me what I expect to make? I know that average teller is 24k.. but she also told me I could move up 6-12 months to a better position I just need that banking expierince to do so. I would like more more.. and 24k I would assume is for a high school grad? if anyone knows let me know! thanks!

Johnny Appeseed in Rocky Mount, North Carolina said: I am a new college graduate and just spoke w/ someone in Wachovia HR.. and I did a phone internview and I have a face 2 face in a few days. I have plenty of cutomer service and expierience and cash handling as well as a college degree. Does anyone know what I should say if they ask me what I expect to make? I know that average teller is 24k.. but she also told me I could move up 6-12 months to a better position I just need that banking expierince to do so. I would like more more.. and 24k I would assume is for a high school grad? if anyone knows let me know! thanks!

I just took a position for teller and I have a bachelors degree and I was offered around 21K. I agree with you 24K is the average, although I don't have any previous teller experience so I am thinking that affected the starting salary. As you state I do plan on working my way up as well.

Still hanging on to my Appr license in Barrington, Illinois said: I read in a previous post about vacation days being taken away.
Was this based on fact/experience, or rumor?
I have a good number of days banked (sorry, bad choice of verbiage), and would like to use them as a buffer if my job were to evaporate soon.
Do any laid-off or fired Wach employees care to offer advice?
Thanks!

I wouldn't take every posting on here as based on fact/experience.

Johnny Appeseed in Rocky Mount, North Carolina said: I am a new college graduate and just spoke w/ someone in Wachovia HR.. and I did a phone internview and I have a face 2 face in a few days. I have plenty of cutomer service and expierience and cash handling as well as a college degree. Does anyone know what I should say if they ask me what I expect to make? I know that average teller is 24k.. but she also told me I could move up 6-12 months to a better position I just need that banking expierince to do so. I would like more more.. and 24k I would assume is for a high school grad? if anyone knows let me know! thanks!

the average salary is usually based off of people that have been working there for more than a year btw.

since a bank teller position only requires a high school diploma, then yes 24k would be for a high school grad.

idaguy83 in Columbia, South Carolina said: I just took a position for teller and I have a bachelors degree and I was offered around 21K. I agree with you 24K is the average, although I don't have any previous teller experience so I am thinking that affected the starting salary. As you state I do plan on working my way up as well.

I salute that you will do what in needed to move your way up. The teller position is a great way to see the real world of banking. You'll see Customer Service...as well as finance. Eventually you'll need to broaden your scope to either getting people to deposit more money or to take loans. Time will tell for you. Sounds like you have the right idea.

For those of you asking if Wachovia is a good place to work, beware. It doesn't matter how many excellent reviews you have, whether you're ahead with your sales, or how your customers love you. Once you've advanced enough to make a half way decent salary and accumulate more than two weeks' vacation, you will be replaced by a new hire who makes less. I know jobs are hard to come by just now and you may have to take what comes along, just don't count on anything. If you want to work for a caring company and are looking for "great perks and special treats", I suggest you look elsewhere.

I am barely over 40. Not in your field in any stretch of the imagination. However. Go for 25K. If they say they have a lower level in mind, say, I understand that you can get a date entry person for less, but I plan to be here for a long time. You know your limit, so if they go down, look a little maudlin, but take it and good luck to you

California Dude, you really should try to be more polite and not such a shill for this craphole of a company. I was a financial specialist for First Union Direct, moved to the FS role in the branches for the Wachovia/FU merger and just recently got laid off as a manager in the operations area at Wachovia Securities due to the bonehead decision to move the firm to St. Louis. Because of my years with the company and being vested in the pension, I just recently applied for an FS position in the branch. I am fully licensed, have 7 years of selling experience most of which were in the FS role. I DIDN'T EVEN GET A FACE TO FACE INTERVIEW WITH A SALES LEADER for the FS role because the HR drone said in the last 3 years I only had one year of sales experience. Hello, that is because I was managing a team in your securities division with above average performance reviews. She dismissed my previous sales experience, my previous Wachovia experience, and the fact I was currently a displaced employee on severance. I have now totally washed my hands of this steaming pile of crap of a bank and yanked my pension for a rollover today. Oh, by the way Surfer Dude, I believe you made 50k in commissions as an FS as much as I believe the sun shines at night. The FS base salary is 39 to 42k at the most and the incentive plan changes constantly to the bank's benefit not yours. If you notice from California Dreamin's post, he makes his money by figuring out Wachovia's system and not by providing proper products and services to the customers. That is why Wachovia is currently DOA. The recruiter told me that walk in traffic was the gravy and that new business from calling leads was the meat of the business. That is the most backwards thinking on Earth when you take your loyal customers who use your branch for granted in order to make 150 - 200 calls per week to a bunch of crap leads that weren't even scrubbed before they were dumped in the SOLD system. Good riddance to bad rubbis

Does anyone know the FA hiring process? I already did they phone interview and I was selected for the regional office interview. They told me the interview is supposed to be done by the 23 of January and that's tomorrow and I have not received a call from the regional manager. I called the recruiter and she said everything is fine and that I have to wait because they might be behind on the interviews. What follows after the office interview? I already sign and sent all the paperwork for my U4 and background check.

bank girl in Duluth, Georgia said: I work for wachovia and I am in the training still It is a long long long process. My point is to tell you that you can pass the series 6 and 63 without a problem I did it on the first try and I am a stroke victim that did not even open the 63 book until the day before I took the exam. The reason why people did not pass and were fired is because they did not take it seriously. It is self study and it takes dicipline. you can not expect to skate through it. You have to read it 24/7 until the day of your exam, do the practice exams on the computer and in the book and listen to the cd's when ever you are in the car. They give you all the tools to pass the exam trust me. You can do it, but you have to realize that you are not going to have a life until all 4 exams have been passed. It isn't hard if you prepare. out of 11 people in my class only 6 are still with us, but I know it is because people did not take it seriously...

I know about the 6 and 63 and the Series Seven, but there is an SIA that you have to take in order to get an offer. Can anyone tell me what's on this test. I'm taking it next week and am trying to brush up on percentages and word probs. Anything I should be concentrating on? Would appreciate some insight. Thanks

does wachovia employees get discount from at&t premier discount? if yes how much.

I would not recommend anyone to work at wachovia. With the new management employeess are hoping for change. Yes, wachovia pays well and has great benefits, but they made sure they get their moneys worth out of you.

If you do not meet their quotas or their standards you do not last very long. You are so micro-managed you can hardly breathe.

anna b12 in Montclair, New Jersey said: does wachovia employees get discount from at&t premier discount? if yes how much.

jenny from new york---

your kidding right?

dianaflorida in Tampa, Florida said: For those of you asking if Wachovia is a good place to work, beware. It doesn't matter how many excellent reviews you have, whether you're ahead with your sales, or how your customers love you. Once you've advanced enough to make a half way decent salary and accumulate more than two weeks' vacation, you will be replaced by a new hire who makes less. I know jobs are hard to come by just now and you may have to take what comes along, just don't count on anything. If you want to work for a caring company and are looking for "great perks and special treats", I suggest you look elsewhere.

Jenny in new york---

there are better companies out there. wachovia will put you out to dry first chance they get.

Anonymous in Enterprise, Alabama said: I would have to disagree with the teller hourly pay...

The teller regardless of partime or full time makes anywhere from 9-11 starting, I think they go as high as 13 -14 and hour after that you dont get any more raises. Everything seems right though.

Also, when I worked for Wachovia, there was one employee who had been with the company for about 20 years. A customer came to cash a large check, and the check was approved and signed off by another employee of the branch. To make a long story short, the check came back, and they let the hard working teller who had given them 20 years of loyalty go. The person who signed off on the check never owned up to it and is still working there. Not saying its not a great company ( i dont think one exists n e way, if one does PLEASSE let me know), but watch your own back b/c no one else is going to do it for you.

Pros:
Good Benefits (medical is kinda limited and expensive, seems like everything's deductible is $1000)

Great incentives up $750 extra per month on your pay

PTO is generous and can be accrued and carried over

Get mileage if youre a rover

Cons:
Backstabbers

REALLY CHEAP, most branches have no security officers, they just want you to hand every robber that comes your way all the money in your drawer so they can fire you afterwards, lol, (jk, you only get fired if you exceed the drawer limit)

Screw seniority an all that sh*t, they are all about favoritism, if they like you, and you have no skill you will reach the top of the ladder, no matter how hard you DIDNT work

Most TM's are demonic, they like to screw around with the tellers, just b/c they feel powerful, ( dont know why you feel powerful for $30,000 or less, I make more than that now and do less work)
The list goes on......

Just make sure you choose wisely is all i'm saying, we've all gotta work right? But make sure you know what you're getting into.

byrd813 in Duluth, Georgia said: Also, when I worked for Wachovia, there was one employee who had been with the company for about 20 years. A customer came to cash a large check, and the check was approved and signed off by another employee of the branch. To make a long story short, the check came back, and they let the hard working teller who had given them 20 years of loyalty go. The person who signed off on the check never owned up to it and is still working there. Not saying its not a great company ( i dont think one exists n e way, if one does PLEASSE let me know), but watch your own back b/c no one else is going to do it for you.

Pros:
Good Benefits (medical is kinda limited and expensive, seems like everything's deductible is $1000)

Great incentives up $750 extra per month on your pay

PTO is generous and can be accrued and carried over

Get mileage if youre a rover

Cons:
Backstabbers

REALLY CHEAP, most branches have no security officers, they just want you to hand every robber that comes your way all the money in your drawer so they can fire you afterwards, lol, (jk, you only get fired if you exceed the drawer limit)

Screw seniority an all that sh*t, they are all about favoritism, if they like you, and you have no skill you will reach the top of the ladder, no matter how hard you DIDNT work

Most TM's are demonic, they like to screw around with the tellers, just b/c they feel powerful, ( dont know why you feel powerful for $30,000 or less, I make more than that now and do less work)
The list goes on......

Just make sure you choose wisely is all i'm saying, we've all gotta work right? But make sure you know what you're getting into.

I will be working as a roving teller for Wachovia. They are starting me out with 14 dollars an hour plus they will reimburse me for gas expenses. They did not mention anything about commission earned. Do they cash incentives per month at every location?

lizteller in Prospect, Connecticut said: I will be working as a roving teller for Wachovia. They are starting me out with 14 dollars an hour plus they will reimburse me for gas expenses. They did not mention anything about commission earned. Do they cash incentives per month at every location?

Sorry, I meant to say, "do they pay cash incentives per month at every location"?
Also, when they interviewed me they said that they do not pay for OT but when I was reading my welcome paperwork it does say that OT is paid.

Is there anyone familiar with what's going on with hiring Financial Center Managers in the Philadelphia area or anywhere for that matter? I started a hiring process four (yes, four!) months ago. I've met with 3 recruiters, 2 DM's, a CVP and have had numerous phone conversations. I know there's a lot of transition going on right now since everything is supposed to be switched to Wells by 01/01 and I heard that at least Wachovia is notorious for taking a long time from initial contact to actual hire but something needs to happen. I haven't received a rejection e-mail but unless someone here knows the inside scoop I think I gotta move on.

Big Jake in Richmond, Virginia said: I honestly doubt that VP's make only $60k. Someone's selling you a bill of goods there. Keep shopping! How is one to afford the average $300,000 house in Richmond on that type of salary?

The average house in Richmond is $300K ??? are you kidding me? Even in NJ where car insurance for someone in their mid 40's with no accidents or violations or lapse in coverage is $2080 a year...for 2 cars.. the houses in this one area are about $150K...
half that! wow.. what kind of homes are you talking about?? geese louise.. that, to me, is above average by price description.

I'm looking to relocated and a worker at Wachovia told me that she gets from time to time bonuses over $5000, I'm looking in the mortgage collection department. Is this true or if anyone knows how much is the salary for this position?