Scotiabank Reviews

Updated April 17, 2015
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72 Reviews
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Scotiabank President and CEO Brian J. Porter
Brian J. Porter
7 Ratings

72 Employee Reviews

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  1. Helpful (2)

    Unjust Termination Practices

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Contractor - Analyst in New York, NY
    Former Contractor - Analyst in New York, NY

    I worked at Scotiabank as a contractor (Less than a year)

    Doesn't Recommend
    Neutral Outlook
    Doesn't Recommend
    Neutral Outlook

    Pros

    In general there is good morale among employees

    Cons

    Misguided and under-informed management when dealing with general practices of regulatory issues.

    Advice to Management

    Consider all manners of employment contracts and give grounded and proven reasons before termination

  2. Helpful (1)

    I've worked 3 years at Scotiabank

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY

    I have been working at Scotiabank full-time (More than 3 years)

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    Good work life balance. Great clients to work with. Excellent peers and internal staff to work with. Really just enjoyable day in and day out.

    Cons

    Downsizing in the US. Company has no interest in the US and is fading away fast. Last two years have been spent worrying about when the company is pulling out of the US.

    Advice to Management

    It's time to stop repeating the bank is Canadian's most International Bank. Besides Canada and Mexico the bank is sporadically located.

  3. Helpful (1)

    Associate Director - Corporate Banking

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Scotiabank full-time

    Recommends
    Neutral Outlook
    Recommends
    Neutral Outlook

    Pros

    Work - Life balance and great colleagues.

    Cons

    Limited resources in the U.S.

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  5. One big pro, several cons, look elsewhere

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee in New York, NY
    Former Employee - Anonymous Employee in New York, NY

    I worked at Scotiabank full-time (More than a year)

    Doesn't Recommend
    Positive Outlook
    Doesn't Recommend
    Positive Outlook

    Pros

    - The work life balance is unreal
    -Relaxed environment

    Cons

    -Pay is definitely not competitive with the market, raises are joke
    -You notice people do not get promoted, lateral moves are very rare and management sometimes prevents these moves
    -Technology is horrible, systems are antiquated
    -Sometimes too relaxed an environment
    -Lack of cross training
    -Lots of office politics
    -Functions and departments keep getting move back to Canada

  6. Avoid if you can

    • Comp & Benefits
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY

    I have been working at Scotiabank

    Doesn't Recommend
    Disapproves of CEO
    Doesn't Recommend
    Disapproves of CEO

    Pros

    - Work life balance
    - Low stress
    - Capital markets are the only area in the bank that's being invested in, however the business is stifled (see cons)

    Cons

    - Pay below market
    - Outdated managerial practices
    - Conservative approach to doing business
    - Uncompetitive vs. US banks
    - US Corporate bank in decline
    - Low employee morale

    Advice to Management

    Comp fairly.

  7. Helpful (1)

    Top tier Canadian Bank - bottom tier US/Global bank

    • Comp & Benefits
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Associate Director in New York, NY
    Current Employee - Associate Director in New York, NY

    I have been working at Scotiabank

    Doesn't Recommend
    Disapproves of CEO
    Doesn't Recommend
    Disapproves of CEO

    Pros

    great work life balance (no weekends, very rarely late nights)
    good place to learn efficiency/cost reductions
    recently purchased a commodity trading team from UBS, rates trading unit too - took advantage of US bank environment over past year to snatch up competitors

    Cons

    inverted pyramid - a lot of chiefs running around, very few junior staff to develop and support
    poor technology (since its a Canadian bank, its IT is similar to US co's 10+ years ago)
    very small platform in US, so hard to cross sell and generate corporate interest
    lack of investment on corporate banking side - 4 years ago 46% investment grade, now 80+% investment grade clients; lots of layoffs in NYC, San Fran, Chicago, and more to come!?
    Very few resources compared to competitors - embarrassing on pitches to see co's reaction to lack of analysis compared to other large firms

    Advice to Management

    invest in technology, junior staff, and infrastructure in US...plus pay in line with US banks in the US

  8. Advisory Programmer Analyst

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Advisory Programmer Analyst in Toronto, ON (Canada)
    Current Employee - Advisory Programmer Analyst in Toronto, ON (Canada)

    I have been working at Scotiabank (More than 3 years)

    Recommends
    Neutral Outlook
    Approves of CEO
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    Work Life Balance. Safe and Secured Job

    Cons

    Very slow career progression. Lot of politics

    Advice to Management

    Move aggressive hadrworking people up and cut down on favoritism

  9. Helpful (1)

    Office politics and drama everyday

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee in Toronto, ON (Canada)
    Current Employee - Anonymous Employee in Toronto, ON (Canada)

    I have been working at Scotiabank

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

    Pros

    The best thing would the perks (discount) that you get as an employee.

    Cons

    Everyone is a manager. Each "manager" has their own plan for you and you never really get the opportunity to actually develop your skills. One might want you to do that while another might want you to just stick to day to day tasks. In addition, there are some very toxic individuals who work there and nobody addresses them. The problem is considered invisible.

    Advice to Management

    Invest in talented individuals and don't scare them off by ignoring their concerns

    Scotiabank Response

    Apr 2, 2015Employer: Scotiabank

    We’re happy to hear you’re taking advantage of the Workperks that Scotiabank offers and we encourage you to continue. However, we regret to hear about the personal experience you’re describing. Team ... More

  10. Helpful (2)

    Great atmosphere, the rest is pretty much terrible

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Customer Support Officer (Team Leader) in Montreal, QC (Canada)
    Former Employee - Customer Support Officer (Team Leader) in Montreal, QC (Canada)

    I worked at Scotiabank

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    Great people, great atmosphere. That is pretty much it.

    Cons

    Terrible salary below average in the banking industry. Terrible benefits compared to industry average. Job volumes keeps increasing, but no salary attached to it.

    Advice to Management

    Try to keep employees by giving them what they are worth instead of cheaping it out on any possible facets.

  11. Helpful (1)

    stable job, but really low pay

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee in Burnaby, BC (Canada)
    Former Employee - Anonymous Employee in Burnaby, BC (Canada)

    I worked at Scotiabank

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    free drinks at coffee machine

    Cons

    really low pay. turn over rate is high

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