Scotiabank

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Scotiabank Reviews

Updated August 14, 2014
Updated August 14, 2014
497 Reviews

3.5
497 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Scotiabank President and CEO Brian J. Porter
Brian J. Porter
60 Ratings

Review Highlights

Pros
  • work life balance, position title is higher than other Canadian banks (in 66 reviews)

  • Relax work environment, great people and a stable company (in 22 reviews)


Cons
  • The pay is not competitive and there aren't full time positions on the teller line, even few part time (in 8 reviews)

  • Low salary; if you pay peanuts you get monkeys (in 8 reviews)

More Highlights

137 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1.  

    Blue collar investment bank

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

    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 ManagementAdvice

    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.

    Doesn't Recommend
    Approves of CEO
  2.  

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

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    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

  3.  

    Good work life balance

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

    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 ManagementAdvice

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

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
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  5.  

    Too much bureaucracy

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

    Pros

    The Scotiabank name is a synonym for security.

    Cons

    Making the systems and operations the same for several countries is not effective.

    Advice to ManagementAdvice

    Give more authority to the people in the countries they operate.

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
  6.  

    It is a great place to enter the banking industry, if you would like to make it a career.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Personal Banking Officer  in  Saint Thomas, VI
    Current Employee - Personal Banking Officer in Saint Thomas, VI

    Pros

    Wonderful people to work with;very family oriented. Everyone makes you feel comfortable when you're new to a branch.

    Cons

    The compensation could be better, and changes in the workplace should be relayed to the staff in a reasonable amount of time.

    Advice to ManagementAdvice

    Practice what you preach!

    Recommends
    Negative Outlook
    No opinion of CEO
  7.  

    Happy I did it, but would never do it again.

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

    Pros

    Some of the individuals within the bank are extremely intelligent, and they give access to upper management. Similarly, they have international rotational opportunities.

    Cons

    Culture is extremely cutthroat in investment banking and their is no sense of teamwork. Virtually no access to upper management as was once praised.

    Advice to ManagementAdvice

    Take time to train Jrs.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  8.  

    good life work balance

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

    Pros

    Very good work life balance. Usually 8~5 working hour. People are nice and easy to get alone with. location is good.

    Cons

    not good IT system. 3 level bank. The management level people think their target is number 3 in any area (not like other bank wants to be number one!)

    Advice to ManagementAdvice

    No too much I can say about it. Please keep the work and life balance, that's what attract people here!

  9. 1 person found this helpful  

    great people but poor compensation

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

    Pros

    people are generally friendly and supportive, and it is growing significanlty in Latin America.

    Cons

    Poor compensation and benefits; management puts harsh rules on minimum required time for each role

    Advice to ManagementAdvice

    It is hard to find a people manager who has a genuine interest in employee's career development. Harsh rule of minimum required time at each role has been imposed by senior management on their lower level employees and this rule impedes talent development and negatively affects employees' morale. Therefore, it is imperative for Scotiabank to assess the style of people manager and make them role model for their employees.

    Recommends
    Positive Outlook
    No opinion of CEO
  10.  

    Scotiabank - National Collection Center

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Customer Relations Officer  in  Ottawa, ON (Canada)
    Current Employee - Customer Relations Officer in Ottawa, ON (Canada)

    Pros

    - benefits
    - strong leadership
    - encouraging internal promotions
    - friendly and knowledgable coworkers
    - weekly team meetings which encourages a team-oriented work environment

    Cons

    - difficult to book specific days off due to scheduling system
    - like any major company, there is corporate responsibilities as far as hiring
    - stressful work environment

    Advice to ManagementAdvice

    provide stress management training and support to employees to avoid burn out and dissatisfaction with job

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
  11.  

    nice employees, opportunity for advancement

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

    Pros

    nice employees
    opportunity for advancement
    large Canadian bank
    international locations may be an asset for those who would like to work and travel
    lots of variety of positions
    some positions at locations across Canada

    Cons

    seems like possible lower wage compared to some other banks

    Recommends
    Positive Outlook
    Approves of CEO

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