Scotiabank Reviews

Updated July 3, 2014
Updated July 3, 2014
504 Reviews

3.5
504 Reviews
Rating Trends

Recommend to a friend
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Scotiabank President and CEO Brian J. Porter
Brian J. Porter
61 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

45 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1. 4 people found this helpful  

    A great place to work; for sociopaths and sycophants.

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

    I worked at Scotiabank full-time

    Pros

    No pros come to mind.

    Cons

    Pitiful benefits. Antiquated technology. Management`s behaviour completely inappropriate and unprofessional. Blatant favourtism for the chosen few. Demeaning, scapegoat tactics for individuals who refuse to conform to the drone mentality.

    Advice to ManagementAdvice

    Grow up.

    Doesn't Recommend
    No opinion of CEO
  2.  

    If I could turn back time.....

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

    I have been working at Scotiabank full-time for more than 5 years

    Pros

    You 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 ManagementAdvice

    Provide 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.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  3. 1 person found this helpful  

    Broken Work System

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

    I have been working at Scotiabank as a contractor for more than a year

    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 ManagementAdvice

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

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

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

    I have been working at Scotiabank full-time for more than 3 years

    Pros

    You would never get fired

    Cons

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

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  6.  

    Extremely Political

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

    I have been working at Scotiabank full-time for more than 5 years

    Pros

    Stable employment, job security, good work life balance

    Cons

    poor 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 ManagementAdvice

    Managers 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.

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
  7. 1 person found this helpful  

    Mortgage Specialist

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

    I worked at Scotiabank full-time for more than 3 years

    Pros

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

    Cons

    Overworked 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 ManagementAdvice

    Listen to employees

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  8.  

    o
    okay

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

    I have been working at Scotiabank

    Pros

    Friendly staff, very user friendly system

    Cons

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

    Doesn't Recommend
    Disapproves of CEO
  9.  

    Working at scotiabank

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

    I have been working at Scotiabank

    Pros

    Have great team spirit within the company.

    Cons

    Salary is not worth the effort provided each day.

    Doesn't Recommend
    Neutral Outlook
  10. 4 people found this helpful  

    high expectations low salary

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

    I have been working at Scotiabank full-time for more than 5 years

    Pros

    job security esop decent co employees

    Cons

    lousy management lousy benefits lousy workplace

    Advice to ManagementAdvice

    take care of front line staff

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  11. 1 person found this helpful  

    Never promote the skilled or educated

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

    I worked at Scotiabank full-time for more than 5 years

    Pros

    Once you get in you can stay there all you want

    Cons

    Scotabank 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 ManagementAdvice

    VPs 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.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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