Wells Fargo 2028 first-round interview guide

For
2028 summer analysts
Sources
12 cited

Invited to a Wells Fargo first round, or wondering if you will get one? Here is who gets a first round after the HireVue, how the 2-on-1 and virtual rounds run, what they ask and how fast the superday follows.

A student in a button-down shirt on a video call at a desk in a quiet residence hall lounge on a rainy afternoon, wired earbuds in, the laptop turned away from view, a legal pad and a pen on the desk, rain on the window behind.
Some Wells Fargo processes add a first round after the video interview: a 2-on-1 with associates or a virtual round with the campus recruiting team.

Key facts

  • Is there one?: For summer 2027 many investment banking applicants went straight from the video interview to the superday. For summer 2026, first-round invites followed the video interview from about Feb 10, 2025.7,6,12
  • Format: A 2-on-1 with associates (Charlotte, Apr 2025, summer 2026), a virtual round with the campus recruiting team (New York, Mar 2025, summer 2026), or a 2-on-1 technical screener (Houston Energy, Oct 2026, summer 2028). Wells Fargo says interviews may be by phone, in a group or 1:1.8,9,10,1
  • What it covers: Standard behavioral questions with simple accounting technicals (New York, Mar 2025) or a mix of behaviorals and technicals (Charlotte, Apr 2025). Houston Energy (Oct 2026, summer 2028) was a technical screener on accounting, valuation and energy questions.9,8,10
  • Who interviews: Two associates in Charlotte; the campus recruiting team in New York. Wells Fargo says many positions require a phone screen with a recruiter.8,9,2
  • After it: For summer 2026, one superday invite came the day after the first round. The Charlotte and New York processes took one to two months in all, ending in offers.7,8,9

Wells Fargo's Corporate & Investment Banking group looks for analytical thinkers with strong attention to detail, creative ideas, excellent communication and people who succeed in fast-paced, collaborative teams.3

What the Wells Fargo interview looks like

  1. Where it sits

    Investment banking processes have started with the application and the On-Demand Screen, Wells Fargo's recorded video interview. Markets applicants have also had a HackerRank test. After that, some processes run a first round before the superday and some go straight to it.2,7,12

  2. Who gets one

    It has changed by year and office. For summer 2026, first-round invites went out after the video interview from about Feb 10, 2025, including a 2-on-1 in Charlotte and a virtual round in New York. For summer 2027, many applicants went from the video interview straight to a superday in waves by school; whether non-target applicants got a first round first was disputed in the same discussion.7,8,9,6,12

  3. The format

    Expect two people at once or a recruiter-led call. Charlotte paired two associates (Apr 2025), New York ran a virtual round with the campus recruiting team (Mar 2025), and Houston Energy a 2-on-1 technical screener after coffee chats (Oct 2026, summer 2028). Wells Fargo says its interviews vary by business group and may be by phone, in a group or 1:1.8,9,10,1

  4. What they ask

    Standard behavioral questions and basic technicals: simple accounting in New York, a mix of behaviorals and technicals in Charlotte. Houston Energy (Oct 2026, summer 2028) went further into accounting, valuation and energy questions, such as the limitations of beta.9,8,10,11

  5. After it

    The superday comes quickly: one summer 2026 applicant had the invite the day after the first round. Superdays have been two or three interviews, often 2-on-1 and mostly technical.7,8,9,12

Before your first round

  • A quiet room, a charged phone and, for a virtual round, a tested camera, microphone and connection.
  • Your resume beside you, and a short story for every line on it.
  • Simple accounting cold: how a change in depreciation or working capital moves through the three statements.
  • The valuation basics: the main methods, a DCF and what WACC and beta stand for.
  • For a sector group such as Energy: one or two recent deals and the metrics the sector uses.
  • A reason for Wells Fargo, your group and your city that matches what you said in the video interview.
  • Two stories in STAR form: a conflict on a team and a time you solved a problem a new way.
  • Two questions for the associates about the group and the summer.

The questions

Wells Fargo says its interviews vary by business group. In investment banking first rounds, expect a mix of standard behavioral questions and simple technicals, with sector questions in a group such as Energy.1,8,9,10

  • Behavioral: Standard STAR questions: conflict on a team, a problem you solved.
  • Fit and motivation: Why Wells Fargo, why this group, why this city.
  • Technical: Simple accounting and valuation: the three statements, a DCF, WACC and beta.
  • Sector: In a sector group, questions on the industry and how it is valued.

Which division question you get

Investment Banking, Charlotte (Generalist)
Apr 2025 (summer 2026): after a behavioral HireVue, a 2-on-1 with associates mixing standard behaviorals and technicals; the superday followed.8,11
Investment Banking, New York
Mar 2025 (summer 2026): a virtual first round with the campus recruiting team, behavioral and simple accounting technicals, then a superday of two rounds.9,11
Investment Banking, Energy, Houston
Oct 2026 (summer 2028): coffee chats, then a referral to a 2-on-1 technical screener on accounting, valuation and energy questions. What are the limitations of beta?10,11
Investment Banking, New York
Jan 2026 (summer 2027): no first round; the HireVue led straight to a superday of three 30-minute interviews on Zoom.12,11
MarketsBest guess
Expect the HackerRank topics to come back live: probability, the yield curve and a simple trade idea.

The Markets line is our best guess from the HackerRank test Markets applicants have had after the video interview.

Example questions and how to answer them

Technical"What are the limitations of beta?"10,11
  1. 1Say what beta is: a stock's sensitivity to the market, used for the cost of equity in CAPM.
  2. 2It looks backward: it comes from past returns and depends on the period and index chosen.
  3. 3It misses company-specific risk and changes as leverage or the business changes.
  4. 4Say what bankers do about it: use peer betas, unlever and relever them to the target's capital structure.

Tip: Asked in a Houston Energy first round (Oct 2026, summer 2028), a 2-on-1 technical screener. Finish on unlevering and relevering, which shows you know how it is used in a DCF.

Example answer, written by Intervyo (not a real candidate)

Written by Intervyo as an example. Beta measures how much a stock moves with the market, and we use it in CAPM to get the cost of equity. Its main limitation is that it is historical: it comes from past returns, so the answer changes with the time period, the return frequency and the index you pick. It also only captures market risk, not risks specific to the company, and it shifts when the company takes on more debt or changes its business. For a private company there is no beta at all. That is why in a DCF we usually take betas from comparable companies, unlever them to strip out their debt, and relever the average at the target's own capital structure.

Technical"How does a $10 increase in depreciation affect the three statements?"9,11
  1. 1Income statement: operating income falls by $10; at a 25% tax rate, net income falls by $7.50.
  2. 2Cash flow statement: net income down $7.50, add back the $10 non-cash charge, so cash is up $2.50.
  3. 3Balance sheet: PP&E down $10 and cash up $2.50, so assets fall $7.50.
  4. 4Retained earnings fall $7.50, so both sides balance.

Tip: A New York virtual first round (Mar 2025, summer 2026) asked simple accounting technicals; the review does not give the exact question, so this is our example of the type. Say the tax rate you assume first.

Example answer, written by Intervyo (not a real candidate)

Written by Intervyo as an example. Assuming a 25% tax rate: on the income statement, operating income falls by $10 and taxes fall by $2.50, so net income is down $7.50. On the cash flow statement, I start with net income down $7.50 and add back the $10 of depreciation because it is non-cash, so cash from operations rises by $2.50. On the balance sheet, cash is up $2.50 and PP&E is down $10, so total assets fall by $7.50. On the other side, retained earnings fall by the $7.50 drop in net income, so it balances.

Sector"How would you value an oil and gas producer?"10,11
  1. 1Start with the reserves: a net asset value from the cash flows of proved and probable reserves.
  2. 2Add trading multiples sector analysts use: EV to EBITDAX, and value per flowing barrel or per unit of reserves.
  3. 3Show the commodity price deck and how sensitive the value is to it.
  4. 4Mention precedent transactions for acquired acreage or reserves.

Tip: The Houston Energy first round (Oct 2026, summer 2028) asked energy-specific questions without the review naming them, so this is our example of the type. Name EBITDAX and NAV; they show you know how the sector is valued.

Fit and motivation"Why Wells Fargo?"7,11,5
  1. 1Start with the work: the group and the clients it covers.
  2. 2Give one reason that is Wells Fargo's: a group, a deal, a banker you spoke with.
  3. 3Link it to something you have already done.
  4. 4Close on why this city and this group.

Tip: Asked in the video interview (Jan 2025, summer 2026) and in a Commercial Banking final round (Oct 2024, summer 2025). Have it ready for a first round too, with the same reasons you gave on video.

Example answer, written by Intervyo (not a real candidate)

Written by Intervyo as an example. I want to work on energy and power deals, and Wells Fargo's Houston team is aligned to that coverage, so I would be on the deals I have followed since my internship at a regional utility. When I spoke with an analyst in the group, what stood out was how early summer analysts get onto live transactions. I like that the group combines lending and capital markets with advisory work, and Houston puts me next to the clients I want to cover.

Behavioral"Tell me about a time you were faced with conflict in the workplace."11,8
  1. 1Situation: who disagreed, about what, and what was at stake.
  2. 2What you did yourself: how you listened and what you proposed.
  3. 3Result: how it was settled, with a number if you have one.
  4. 4What you would do the same way again.

Tip: Asked in a Dallas Corporate Banking video interview (Oct 2025, summer 2026). The Charlotte first round mixed in standard behavioral questions, so have it ready live.

More Wells Fargo interview questions

Technical

  • “Simple accounting questions.”9

    New York virtual first round, Mar 2025 (summer 2026); a topic

  • “Accounting, valuation and energy-specific questions.”10

    Houston Energy first round, Oct 2026 (summer 2028); a topic

Behavioral and fit

  • “Standard behavioral questions, with technicals mixed in.”8

    Charlotte first round, Apr 2025 (summer 2026); a topic

  • “Why commercial banking?”11

    Commercial Banking, New York, Oct 2024 (summer 2025); a final round with one VP after the video interview

  • “Why this city, and why this group?”

    Best guess

    Our expectation: Wells Fargo posts internships by city, such as Houston

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How long to hear back after the interview

Interviews go out in waves. Where there is a first round, the superday can follow fast: one invite came the day after. Where there is none, the superday invite comes straight after the video interview.7,6

  1. Feb 2025 (summer 2026)

    Investment banking, US

    First-round invites followed the video interview from about Feb 10, 2025, including a New York ECM first round; one applicant had the superday invite the day after the first round.7

  2. Mar 2025 (summer 2026)

    Investment banking, New York

    Video interview, a virtual first round with campus recruiting, then a two-round superday; one to two months in all, ending in an offer.9

  3. Apr 2025 (summer 2026)

    Investment banking, Charlotte (Generalist)

    Video interview, a 2-on-1 first round with associates and a superday of 2-on-1s; one to two months to an offer.8

  4. Jan 2026 (summer 2027)

    Investment banking, New York

    No first round: the video interview, then a superday of three 30-minute Zoom interviews, all in under a month.12

  5. Jan to Feb 2026 (summer 2027)

    Investment banking, US

    Video interview to superday in batches by school; one reply said non-target applicants had first rounds, another that they went direct to the superday a little later.6

  6. Oct 2026 (summer 2028)

    Investment banking, Energy, Houston

    Coffee chats, then a referral to a 2-on-1 technical first round; under a month in all.10

For summer 2028, Wells Fargo says Corporate & Investment Banking internships open in January 2027, and the Houston investment banking posting carries an end date of Dec 14, 2026.4,5

Best guessIf a week passes after a first round with no news, send your recruiter one short, polite note. A later wave can still come.

What happens after the interview

  1. Online application

    Apply on wellsfargojobs.com, or through your career center if you heard of the role on campus; Corporate & Investment Banking summer 2028 opens in January 2027.4

  2. On-Demand Screen (HireVue)

    Done. A recorded video interview of mostly behavioral questions, such as why Wells Fargo.2,7

  3. HackerRank test (Markets)

    Markets applicants only: probability, market and basic trading questions after the video interview.7

  4. First round (some candidates)You are here

    This page. A 2-on-1 with associates or a virtual round with campus recruiting; many summer 2027 applicants skipped it.8,9,6

  5. Superday

    Two or three interviews, often 2-on-1, mostly technical.8,9,12

  6. Offer

    By phone, often the same day in New York; group placement in Mid-Cap has followed a general offer.6

First round vs superday

Not every candidate has a first round. Where there is one, it is one interview and lighter on technicals than the superday.

Format

First round

One 2-on-1 with associates, or a virtual round with campus recruiting.8,9

Superday

Two or three interviews, often 2-on-1, in person or on Zoom.8,9,12

How technical

First round

Behaviorals with simple accounting; more technical in Houston Energy.9,10

Superday

Very technical: valuation, LBOs and DCFs, with one conversational round.8,12

Who

First round

Associates, or the campus recruiting team.8,9

Superday

A managing director with an associate or VP in each round (Charlotte).8

What comes next

First round

A superday invite, the next day for one applicant.7

Superday

An offer, by phone the same day in New York for summer 2027.6

2028 summer analyst status

For summer 2027, video invites went out from January 2026 and the first superdays ran in late January. Wells Fargo opens Corporate & Investment Banking summer 2028 internships in January 2027, so expect most first rounds from late January to March 2027. Houston Energy ran one earlier, in Oct 2026 (summer 2028), after coffee chats.6,4,10

FAQ

Does Wells Fargo have a first round before the superday?

For some candidates. For summer 2027 many investment banking applicants went from the video interview straight to the superday. For summer 2026, first rounds ran after the video interview in Charlotte and New York.6,12,7,8,9

What is the Wells Fargo first round like?

Fairly standard: a 2-on-1 with associates mixing behavioral questions and technicals (Charlotte, Apr 2025), or a virtual round with the campus recruiting team on behaviorals and simple accounting (New York, Mar 2025).8,9

Is the Wells Fargo first round technical?

Somewhat. Expect simple accounting and valuation. In a sector group it can go further: the Houston Energy first round (Oct 2026, summer 2028) was a technical screener on accounting, valuation and energy, including the limitations of beta.9,10,11

Is the Wells Fargo first round on the phone or on video?

Either. Wells Fargo says interviews may be by phone, in a group or 1:1, and many positions require a recruiter phone screen. New York ran its first round virtually in March 2025.1,2,9

How soon after the first round is the Wells Fargo superday?

It can be fast. For summer 2026, one applicant had the superday invite the day after the first round, and whole processes ran one to two months, ending in offers.7,8,9

How do I prepare for the Wells Fargo first round?

Know your resume, simple accounting through the three statements and the valuation basics, and keep your reason for Wells Fargo, your group and your city the same as in the video interview. Wells Fargo asks you to represent your own experiences throughout.9,8,5

Interview at other firms

Sources

Firm pages first, then dated candidate reports. Last checked Nov 9, 2026.

  1. 1Wells Fargo: Our Hiring Process
  2. 2Wells Fargo: Frequently Asked Questions
  3. 3Wells Fargo: Corporate & Investment Banking (Early Careers)
  4. 4Wells Fargo: Application Process (Early Careers)
  5. 5Wells Fargo (job site): 2028 Investment Banking Summer Internship - Early Careers (Houston)
  6. 6Candidate discussion on a public forum: Wells Fargo SA27 (from Jan 2026)
  7. 7Candidate report on a public forum: Wells Fargo 2026 SA HireVue (IB) (from Jan 2025)
  8. 8Candidate report on a public forum: Investment Banking Summer Analyst interview, Generalist, Charlotte (Apr 2025)
  9. 9Candidate report on a public forum: Summer Analyst interview, Investment Banking, New York (Mar 2025)
  10. 10Candidate report on a public forum: Investment Banking Summer Analyst interview, Energy, Houston (Oct 2026)
  11. 11Candidate reports on a public forum: Wells Fargo and Company Interview Questions (2026)
  12. 12Candidate report on a public forum: Intern interview, New York (Jan 2026)

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