Scotiabank

  www.scotiabank.com
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Scotiabank Reviews

Updated Jul 3, 2014
All Employees Current Employees Only

3.4 481 reviews

94% Approve of the CEO

Scotiabank President and CEO Brian J. Porter

Brian J. Porter

(54 ratings)

69% of employees recommend this company to a friend

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
44 Employee Reviews Back to all reviews
Relevance Date Rating
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    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    If I could turn back time.....

    Anonymous Employee (Current Employee)

    ProsYou always get paid on time, and the work conditions are stable.

    Cons- Company culture works to hold back good quality workers for fear of losing their skills, while promoting bad workers in order to pass the "dead weight" to someone else. There are no systems in place to provide adequate training the higher you go in the organization, and there is no method of retaining knowledge from valuable employees.
    - Pay is not competitive. The company provides a pay base point in terms of "market reference" for your position. In almost all cases you will be paid far below the market reference listed. I have never met anyone who is paid 100% of the market reference. It's a backwards and broken system.
    - benefits are not competitive

    Advice to Senior ManagementProvide training to management. The higher you go int he company the less training employees/management receives and the more unprofessional it becomes. When starting at entry level you receive good training and reinforcement. The higher you go in the company the less you receive. This results in senior management without management skills, and who are severely uneducated on HR and corporate policies and procedures. This does not promote confidence in leadership and management, and results in poorly run departments.

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

    1 person found this helpful  

    Broken Work System

    Analyst (Current Employee) Toronto, ON (Canada)

    Pros- Fast-paced work environment
    - Established company
    - Various community contributions, charity events, and social events
    - Promotes from within

    Cons- Values start employees but over works them, giving poor annual reviews to keep them in the department so no manager will hire internally. Good reviews are given to poor employees as a means to get rid of them.
    - Very, uneven distribution of work
    - Managers promotes favouritism
    - A lot of red tape and process to get anything done which delays pressing matters.

    Advice to Senior ManagementValue employees who contribute to the organization. Stop trying to operate as a fast-pace startup and ignore policy when it's convenient.

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    1 person found this helpful  

    It depends on which sector you work for.... the bank is known for one of the cheapest banks to work for....

    Loan Officer (Current Employee) Toronto, ON (Canada)

    ProsYou would never get fired

    Cons-Favoritism
    -Hard to move up
    -They want you to give everything and expect nothing

    No, I would not recommend this company to a friend

  1. We want your feedback – Are these company reviews helpful to you?  Yes | No
    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    Extremely Political

    Programmer Analyst (Current Employee) Stratford, ON (Canada)

    ProsStable employment, job security, good work life balance

    Conspoor corporate culture rewards posturing over hard work. Very boring work, technology is 10 years behind and management really has no idea how to motivate staff. Benefits are terrible you have to pay out of pocket if you want medical & dental coverage.

    Advice to Senior ManagementManagers need to be more connected to staff and be more aware of what is happening on the front lines. It's not enough to say "my door is always open" and then go into your office and close the door. Recognize the people that have their nose to the grind stone day in and day out.

    No, I would not recommend this company to a friend – I'm optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    1 person found this helpful  

    Mortgage Specialist

    Mortgage Specialist (Former Employee) Toronto, ON (Canada)

    ProsMortgage department MSA has a good environment due to the team (colleagues). They help you forget about the stress at work.

    ConsOverworked and underappreciated! Very close minded managers and they have no mercy blaming senior managers for their actions. Performance reviews are brutal and at times things can get ugly with managers and HR. MASTERS at MICRO MANAGEMENT!!!

    Advice to Senior ManagementListen to employees

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    o okay

    Anonymous Employee (Current Employee)

    ProsFriendly staff, very user friendly system

    ConsManagement is pretty terrible, not a lot of opportunities for growth

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities

     

    Working at scotiabank

    Anonymous Employee (Current Employee)

    ProsHave great team spirit within the company.

    ConsSalary is not worth the effort provided each day.

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

    1 person found this helpful  

    Never promote the skilled or educated

    Programmer Analyst (Former Employee) Toronto, ON (Canada)

    ProsOnce you get in you can stay there all you want

    ConsScotabank never seem to promote the right people to higher positions. Promotion is only through social connections within colleagues. There is a lot of ethnic biases within the company and each ethnic group tries to promote their own. If you are qualified and skilled you are actually under employed as the hiring managers are intimidated by you

    Advice to Senior ManagementVPs should really consider giving the middle management positions to people with educational qualifications such as CA, MBA, CFAs, PMPs or atleast some other industry recognized qualification. There's a lot of those at Scotiabank who is very much UNDEREMPLOYED! Your lack of knowledge translates to sub par service and investment products offered compared to other banks in Canada.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

    4 people found this helpful  

    high expectations low salary

    PBO (Current Employee) Toronto, ON (Canada)

    Prosjob security esop decent co employees

    Conslousy management lousy benefits lousy workplace

    Advice to Senior Managementtake care of front line staff

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    1 person found this helpful  

    So Not Apply

    Anonymous Employee (Current Employee)

    ProsGood job aids, usually nice coworkers

    Conspoor salary and benefits, political, too many charity events, getting overtime pay is like pulling teeth

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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