I am a relateively junior Credit Analyst and I have been interviewing with WF and BNY Mellon. I think I'll get offers from both and $$$ and other terms will be frairly equal. I wanted to see if you can provide any suggestions here on which offer to select. I know I am providing scarce detail here but for the sake of remaining anonimous I think that's the best choice. Thank you for helping with this.
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Probably neither are suitable. What color are you and do you have a Y chromosome?
I have a nephew working at PayPal. He is very happy and well compensated.
Before I took a junior level job at Wells, I would take a very close look at the job description and figure out how, if you do get laid off, you’ll be able to position yourself so that you can put some good bullet points on your resume. I’ve taken jobs before that were as unstable as Wells is right now, for a title bump, big raise or some buzzword compliance or something else I knew would position me well if I had to jump. Executive leadership is still very flaky and unpredictable and they still want to slash headcount.
Layoffs are less likely at the analyst level. They usually cut higher paying positions.
Both are shtholes
I worked at Wells Fargo and was laid off after just one year. A friend of mine worked at BNY Mellon and was laid off after eight years. I guess you can do the math. 🤷♀️
Why aren’t you looking at better banks…? These are two horrible choices.
Did someone page me?
Here is the difference. Scharf laid total waste to BNY, but is just getting started at Wells.
Was there a spelling test on your application?
From what i’ve heard BNYM is worse than WFC.
I would go with the manager and team with whom you feel most comfortable and focus on your development. Down the road, there’s a good chance you’ll need to change firms to get promoted above senior analyst.
You will definitely get excellent advice on this anonymous board with no trolls.
I would say BNY solely because you Scharf has already been there so you don’t have to worry about him coming in and turning it into a he-l ho-e like he did previously with BNY (they have reversed most of what he did) and WF.
I've been in corporate America for sometime myself. You are both Obi-Wan Kenobi and Qui-Gon Jinn and have provided excellent insight to the padawan learner knows as "OP". Great Job!!!
Depends on which department you will be in. Go for the opportunity that will give you the most, the broadest experience. In depth and not tied to one industry.
I've worked in Credit and Risk for both. If you are at the beginning of your career, both companies are very similar. They will train you and you can grow and learn. Most of the grudge we discuss here on TheLayoff will not be relevant to you this early on. As time goes on you will notice elements that are dysfunctional, executives without ethics, lies and false promises - you will be come bitter just like the rest of us. Maybe a bit more here at Wells Fargo but it's very similar at most of the banks. Now, you have credit unions where things are a bit better but since they are smaller the growth opportunities are smaller and things can get nasty from the political perspective. Either way, do your job, learn and grow and you'll be fine.
Run!!!! Don't work for a financial institution that isn't going to give 2 cents about you. If lending interests you - find a credit union... everyone I know that left WFB for a CU is much happier
Run from both!!
Doesn't really matter. You're entering an extremely large financial corporation. The movies wont do it justice, and it'll take you years before you really understand how everything tangential to your job works, at that point in time, in this specific company.