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U.S. Bank Chairman, President, and CEO Richard K. Davis
Richard K. Davis
1,363 Ratings
  • Structured Financial Analyst investor reporting

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Structured Financial Analyst in Chicago, IL
    Former Employee - Structured Financial Analyst in Chicago, IL
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at U.S. Bank full-time (More than a year)

    Pros

    Work life balance is decent, some long nights can be expected. 401k match is 4% if you take advantage of it. Subsidize part of monthly transportation cost. Low stress environment to gain technical skills. Some continued skill building training but not enough to make a difference.

    Cons

    With the good comes the bad, in this case lots of it. Your experience in the Chicago location will depend solely on who is your direct manager, some take the time to provide guidance and support, others look at you as a completely replaceable part of the machine. Low morale, low pay compared to industry norms. High turnover rate. Lack of retention of quality employees. Division sets unreasonable goals which impact end of year bonus (not in a good way). Don't expect opportunity for growth within structured finance as it is very top heavy, if management is content, then very little thought is given to analyst level employees. The culture in the Chicago location has been toxic for the last 2 years but is slowly starting to change, Only transferable skills gained are technical, all other aspects of structered finance are niche and do not carry over to broader financial industry. No employee perks (not even coffee). There is no incentive to out perform peers because there is no pay for performance.

    Advice to Management

    Management needs to pay for performance and adjust salary to market. Retain talent, the reason people leave is because they gain skills and then leave after 2 years to get 25% pay increase elsewhere. Invest in your employees. Conservative or not, the bank is experiencing brain drain by failing to keep high performing employees happy. Stop turnover, it creates a toxic environment and low morale. In my time before I left the bank over 20 people had left in 2 years. Almost 1 per month, that is unacceptable and should be a red flag that change is needed. Give Boston and Irvine more work as Chicago has been the work horse of GSF-IR since 2008


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