Scotiabank Reviews

Updated August 26, 2015
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Scotiabank President and CEO Brian J. Porter
Brian J. Porter
37 Ratings

Pros
  • work/life balance is exceptional (in 80 reviews)

  • weekly team meetings which encourages a team-oriented work environment (in 30 reviews)

Cons
  • Was recruited with a promise of improved work life balance - this hasn't materialized (in 6 reviews)

  • Actions and Words of Senior Management hardly match (in 9 reviews)

More Pros and Cons

222 Employee Reviews

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  1. Not a great experience

    Former Employee - Compliance Analyst in Clifton, NJ
    Former Employee - Compliance Analyst in Clifton, NJ

    I worked at Scotiabank (Less than a year)

    Pros

    There is good morale among employees.

    Cons

    Management is in Canada and has a poor sense of direction

    Advice to Management

    Place directors in other offices. Directors in Canada are out-of-touch because of logistics.


  2. Okay

    Former Intern - Anonymous Intern
    Former Intern - Anonymous Intern
    Neutral Outlook
    No opinion of CEO

    I worked at Scotiabank as an intern

    Pros

    Depending on the team you're in, it can be a great experience. Your mileage may vary.

    Cons

    Again, depends on the team you're in. Your mileage may vary. Some teams will have very different cultures despite being in the same group.

    Advice to Management

    None really. It was a good experience. Would have been better had there been a return offer but I understand it's not a group with lots of turnover.


  3. Decent place to learn

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Associate in New York, NY
    Current Employee - Associate in New York, NY
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    For the most part, relaxed work environment compared to other banks. Teams are generally lean so opportunity to get broad exposure on transactions.

    Cons

    Lack of structured personal development opportunities. Few similar-aged employees. Scotia feels "cheap" in several ways compared to competitors.


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  5. Helpful (1)

    Director Level

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Scotiabank full-time (More than 8 years)

    Pros

    A fantastic traditional internal culture embodied in the people, but which is currently under tremendous change as part of a new Corporate Philosophy. Pay is about mid market in Canada and below Industry Standard in the US. Benefits are being reduced with more of the costs being borne by the employee in Canada. In the US, it's still pretty good, but not as good as it was a few years ago.

    Cons

    Very little communication about how all of the numerous and very recent and also VERY hurried "departures", from the most senior on down, coupled with other changes contribute to the "Strategy" that's been presented. Alot of uncertainty from within. Huge change always brings that, but more effective communication would mitigate some of that for the employee.

    Advice to Management

    Perhaps devote some effort into more timely and informative messages on why all of the changes in key staffing.


  6. Manager

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Manager in San Juan, PR
    Current Employee - Manager in San Juan, PR
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Scotiabank (More than 5 years)

    Pros

    Customer focused, great place to work, family oriented, very conserned about your health and wellbeing.

    Cons

    Poor salary, too many part time positions a lot of turnover.


  7. Helpful (3)

    Director, Global Banking and Markets

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in New York, NY
    Former Employee - Anonymous Employee in New York, NY
    Doesn't Recommend
    Neutral Outlook

    I worked at Scotiabank full-time (More than 10 years)

    Pros

    friendly people, collaborative environment in which teamwork is encouraged, excellent work/life balance, solid reputation of the firm, stable financial position of the firm

    Cons

    relatively low pay, quality of management is variable, poor morale in many groups, terrible infrastructure (especially systems)

    Advice to Management

    need to upgrade systems, infrastructure and back-office support groups in order to be competitive


  8. It's been ok

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Some of the hardest working coworkers you will ever have. Good reporting structers and clearly laid out objectives.

    Cons

    Jobs can very monotonous. Growth can be challenging.


  9. Helpful (1)

    Blue collar investment bank

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Approves of CEO

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

    Pros

    It's steady, safe, predictable for the most part. Benefits are what you would expect. An atmosphere of humility...for the IB world, anyway. Could be a good fit for the right personalities.

    Cons

    The organization is far from nimble and far from willing to try new things. And, just as anywhere, there are internal politics and fiefdoms.

    Advice to Management

    Although your conservative investment strategy works well, there is no need for the operational side of the business to be equally cautious. Lots of rules and processes could be simplified and streamlined.


  10. Alright experience for entry level job seeked not recommended for professional.

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Scotiabank full-time (More than 5 years)

    Pros

    Working at Scotiabank afforded me plenty of opportunities for training. Great rapport with colleagues... everyone works as a team. The salary is pretty good and we get incentives.

    Cons

    There is a very heavy workload. Lack of opportunity for promotions


  11. Helpful (2)

    Good work life balance

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    Training content was in depth. Great people to work with. Senior and district Management genuinely wants to be a part of the learning process with staff.

    Cons

    Pay does not match up with the knowledge expected. Benefits are not great. There is a great learning plan but no time allocated to work on it. Policies are always changing it's hard to keep up to date. Knowledge required for the job is too much for one person.

    Advice to Management

    Allocate time within a work day for training programs. Improve pay and benefits to be competitive with industries in the area.



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