Wachovia

I’ve been a Business Development Rep for WFS Financial in Charlotte for the last 4yrs but now it looks as if Wachovia will now be signing my checks.

Wachovia buying Westcorp for $3.9 billion

Any fellow Niner Wachovia employees out there?

Wachovia seems to intend on having WFS continue to operate the auto finance division, which is good for my job security…but I am curious as to other aspects of Wachovia.

Corporate culture, advancement, benefits, etc.

If there are any fellow Niner Wachovia employees that can share some info…I would appreciate it.

Thanks

wont be much longer till BB&T, First Charter, etc. are gobbled up by someone…

I can tell you that they do a great job of taking care of their employees. They pay well above the industry average and the have awesome benefits. They are fair, even in the event of downsizing or eliminating duplicate roles and they never hang good people out to dry financially. Relax knowing you are in good hands.

Well if you can’t figure it out by my name on here I am a Wachovia employee. I work in the brokerage support area… actually I train our brokerage support agents and help out on brokerage projects. Wachovia is a great company… good benefits. You asked about about corporate culture… well its good and bad. The good is it is a caring company… for instance before the hurricane even hit the company already had a drive going to get suppplies down there. THey also give you time each month to help in the community. The bad part, IMHO is the diversity push. I mean it pretty much is crammed down your throat… but I guess thats corporate america?? Overall it is a great company… I have moved up pretty steadily in the 5+years I have been there. Welcome to the big green and blue. I suspect the WFS is only the first purchase of a greater western movement. As I tell my training classes resistance is futile… you will be assimilated.

I’ve been with Wachovia now for almost 2 years. I’m a Financial Specialist in a branch in Blacksburg, Va. I really like the company and most days I like my job. Being in a sales-oriented position is pretty demanding, but the pay is good and the benefits are great. My goal is to get back to Charlotte in some role, so I really see myself with the company for a while.

I hope things go well for you through this aquisition, good luck.

Stephen

Thanks for the feedback.

I have loved working for WFS. They are a huge company that believes in taking care of their employees. I have been lucky to have good pay, bonuses, spiffs, trips, etc over my last 4 yrs and I was hesitant as to what to expect from the Wachovia culture.

Sounds like it is very similar to what I’m used to.

Hopefully, my job will remain secure. Early indications show that Wachovia wants WFS to continue to run the Auto Lending Dept for the entire bank because the WFS business model, philosophy and matrix is much more profitable than Wachovia’s. Wachovia primarily wants to use the WFS dealer base in Western USA to expand their Commercial sales to those untapped dealerships in the form of floorplans, business accts, land development, etc.

So it looks OK for me…for now. I guess we’ll see how it all shakes out in about 6 months or so.

Thanks again for your well wishes and your feedback.

[i]Originally posted by NinerOne[/i]@Sep 12 2005, 04:56 PM [b] wont be much longer till BB&T, First Charter, etc. are gobbled up by someone... [/b]
I am really waiting to see BB&T getting eaten up. I know last summer there were several rumors that it was just a matter of time.
[i]Originally posted by WBNiner[/i]@Sep 12 2005, 06:35 PM [b] The bad part, IMHO is the diversity push. I mean it pretty much is crammed down your throat... but I guess thats corporate america?? [/b]
I spent 2 years working for First Union (now Wachovia but basically the same company) when the whole diversity thing took off. I was even on the diversity council (switch and Jimmyhat just had heart attacks :D ). I spent 3 days in an offsite diversity training class. THe entire 3 days were about how I (white, heterosexual, male) was responsible for all the ills of those not like me. It really was an awful experience.

I was laid off when the tech bubble burst, I was in ecommerce at the time, and found my way to BofA.

Hey, bitches, leave BB&T alone.

:smiley:

[i]Originally posted by MKNiner[/i]@Sep 12 2005, 10:43 PM [b] It really was an awful experience. [/b]
"MKNiner doesnt care about black people" :D

[P.C. disclosure on] sorry if anyone doesn’t find this reference funny and/or possibly offensive [/P.C.]

the hiring practices of corporate america are horrible, I could never, ever work in HR at any public company or govt. for that matter.

My wife has been with Wachovia for 19 yrs and loves it. I hear she got MK fired, but htat’s just rumor.

[i]Originally posted by hootie[/i]@Sep 13 2005, 08:55 AM [b] I hear she got MK fired, but htat's just rumor. [/b]
Quality :lol:
[i]Originally posted by hootie[/i]@Sep 13 2005, 07:55 AM [b] My wife has been with Wachovia for 19 yrs and loves it. I hear she got MK fired, but htat's just rumor. [/b]
Unless she had the power to cut the ecommerce budget in half I'd say she probably wasn't involved. But the conspiracy theories run wild. :unsure:
[i]Originally posted by MKNiner+Sep 13 2005, 10:10 AM-->
[b]QUOTE[/b] (MKNiner @ Sep 13 2005, 10:10 AM)

I’ve been a First Union/Wachovia employee for 7 years. It basically fits the mold of most of Corporate America. Typically the salary compensation and benefits are pretty good, of course opinions might vary from department to department.

The only scare of late has been, of course, the off-shoring and out-sourcing pushes. It is a direction that WB is unfortunately going, similiar to BofA.

The corporation is so vast, it really does depend on the department, and if you are secure with the knowledge that your job is secure…you won’t have any problems.

Good luck with the transition and welcome to the world of acquisitions and mergers galore.

I have been at Wachovia for 7 years but will soon be outsourced to Hewitt Assoc. Oddly, I will become a Hewitt employee and stay in my same cube for the near future and somehow this saves Wachovia money. WB is a good place to work but they will be reigning in some of those good benefits over the next few years. The change in the pension plan was just the first step. The goal is to become middle of the pack in pay/benefits versus their top 20 peers as part of the overall drive to hit operating efficiency targets.

Just a little humor, don’t feel bad for laughing NA.

Worked for First Union/Wachovia for 4 years in Charlotte, but found the corporate crap after the merger to be too much to bear. I now work for SunTrust Robinson Humphrey in Atlanta and guess what? It’s all the same corporate stuff, just with a different company. All in all, Wachovia is a good place to work for, same for SunTrust…

I like the $1 for $1 match on 401-K.
I hear BofA only gives you $.50 on the $1.

former FU-Wachovia employee, now enjoying the long hours but yet rewarding career move of selling cars & trucks over in Gastonia. Hey Chrysler has a big gig with Snoop Dog advertising for us. Just goes to show that anything goes in Corporate America… :wacko: