Pros
Steady employment in a wretched economy. As a legacy Wachovia employee, the health insurance appears to be a small step better. In addition, the full 6% match on 401k contributions was retained (for now).
Cons
The company has too many layers of middle-level management in the Wealth Management division (where I work). Decision-making in Wells Fargo Wealth and the company overall seems to be based on the "UN Security Council" method, i.e., consensus must be achieved amongst every member of the (very large) group of middle management that has a role in any given decision before any action is taken. Salaries were kept at the same Wachovia levels, but bonus potential was cut drastically. The result is that I now have a lower salary than many of my legacy Wells Fargo co-workers, with little potential to make up the gap.