Pros
The law department is run differently from a line of business so there is insulation from a "bad quarter." If you're motivated, you will never be bored because there is always something new to learn. The business clients you have are always trying to make banking faster, better, easier, and as their lawyer you get to be part of new initiatives that are exciting. Wells Fargo is highly respected within its industry as well as outside it. You will be proud to work here even if it seem stodgy. Many people would consider this to be a "dream job" because of the company's stability. There are lots of competent attorneys. People want to do the right thing intellectually. The company has lots of inter-lawyer training by way of free unlimited PLI courses, working groups, legal education, and some informal mentoring.
Cons
Senior Management in the law department breathes rarefied air and is rarely dealt with, while middle management runs amok. Quite a few middle managers are incompetent (e.g. don't know much about the area they are managing, and are not leaders who advocate for their direct reports) and consequently they feel threatened by their competent staff. Managers' reviews and workloads are not scrutinized. Middle managers are not trained and hence are awful at managing or serving as advocates for their team. They tend to be good at managing up. WF doesn't routinely do 360 reviews, and places an inordinate emphasis on the direct manager's review, which lends itself to abuse. People are rarely given advancement opportunities internally. Nearly all promotions are given to outsiders. Many of the middle managers are hired from other companies. The mindset of most successful lawyers here is "risk averse" so most lawyers have a certain CYA factor in them. It is not uncommon to hear lawyers now say "that decision is above my pay grade" whereas the phrase used to be "run it like you own it." There is a lot of emphasis on process and asking questions, less emphasis on being productive. If you do make risk conscious productive decisions that help your clients move forward, your clients will love you but you won't be rewarded for it most of the time in the law department because no one pays attention to productivity here. My observation is that most lawyers after working at WF could not work in a more risk embracing company. Many lawyers work with their doors closed all day, even working through lunch, and then they go home to families. It is like the civil service. People who come here "ride it out through retirement." The offices are dull and morgue like. No one really talks, except on the phone with other people on conference calls, or when you run into them in the kitchen or bathroom, or the occasional diversity lunch (which is usually run by secretaries and paralegals) or at the holiday lunch. If you're young or young at heart, have ambitions, are animated, or extroverted, and full of life, don't come here, unless of course you want to use it as a stepping stone for something better for you. But this place has a vortex, and could suck you in for life in its complacency, so be careful.