Amalgamated Bank

www.amalgamatedbank.com
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Amalgamated Bank Reviews

Updated February 17, 2015
Updated February 17, 2015
14 Reviews
2.7
14 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
(no image)
Keith Mestrich
1 Rating

Employee Reviews

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  1.  

    To each it's own

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

    I have been working at Amalgamated Bank

    Pros

    Great stepping stone if you can afford being paid under market.

    Cons

    Stagnation at it's best for union members

    Recommends
    Negative Outlook
    Approves of CEO
  2.  

    The company was great to work for.

    • Comp & Benefits
    • Work/Life Balance
    Former Employee - Anonymous Employee in New York, NY
    Former Employee - Anonymous Employee in New York, NY

    I worked at Amalgamated Bank

    Pros

    Great benefits, a union bank with a union for employees, great pay. Overall decent experience.

    Cons

    It's very hard to move up in the company if you don't know how their system works. You can be transferred at any time without notice. Because it's a union everything goes by the books and sometimes it doesn't always work in your favor.

    Advice to ManagementAdvice

    Pay more attention to the tellers.

    Recommends
  3.  

    Great benefits , A lot of opportunity to succeed.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Teller in Pasadena, CA
    Current Employee - Teller in Pasadena, CA

    I have been working at Amalgamated Bank full-time (more than 5 years)

    Pros

    Higher then usual pay rates.

    Cons

    Very low foot traffic , can be boring at times. managers TOO strict.

    Advice to ManagementAdvice

    Be friendly.

    Recommends
    Neutral Outlook
    No opinion of CEO
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  5.  

    Stuck in neutral

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

    I have been working at Amalgamated Bank full-time (more than 5 years)

    Pros

    The benefits at Amalgamated are not bad. One of the few places around that still has a pension AND a 401k, Also has a pretty liberal sick-day policy which allows for caring for family members.

    Cons

    The company is stuck in a time-warp. Technology is antiquated behind an inflexible management that micromanages every detail and thus, does not improve. As an example - there are some departments that have a typewriter.
    There are no opportunities for career advancement. Internal hiring / promotions are extremely rare. Current CEO Keith Mestrich has brought in many friends from the outside to run key departments. In addition, he seems more interested in political causes than in actually managing the bank. True that the company is advertised as a "progressive" company, but the day-to-day decisions of managing the bank should take precedence over what's happening in Washington.

    Advice to ManagementAdvice

    Develop a positive work environment in which people are recognized for the work they do. The CEO (Keith Mestrich) should be more concerned with the future of the bank than the future of the labor unions or liberal politicians that he supports. He recently gave a 1+ hour town hall meeting in which he discussed a myriad of items from Senior Management to political causes but never once thanked the employees for all they do. And he still claims that it is a bank for working people... Shameful!

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  6.  

    Time warp

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

    I worked at Amalgamated Bank

    Pros

    Good benefits, good hours.

    Cons

    High turn over, people fired every other month. No room for advance since there were no managers around long enough to coach. Dated systems.

    Advice to ManagementAdvice

    Care about your employees.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  7.  

    When politics affect mission

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

    I worked at Amalgamated Bank full-time (more than a year)

    Pros

    It is a slow moving working environment, ideal place for people who have other priorities

    Cons

    It is a company that does not compensate experience or support career goals

    Advice to ManagementAdvice

    The company inline with its mission should support and take responsibility over the career of its employees. It needs to operate like a business and not a bureaucracy.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  8.  

    It is a stepping stone, not somewhere to build a career.

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

    I have been working at Amalgamated Bank full-time (more than a year)

    Pros

    Vacation time, friendly environment, all bank holidays, training

    Cons

    Compensation, stunted personal growth, no real customer/employee appreciation, bad retention rate

    Advice to ManagementAdvice

    Make sure the politics within management aren't completely transparent/evident to the rest of the company.

    Recommends
    Neutral Outlook
    Approves of CEO
  9.  

    Different

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

    I have been working at Amalgamated Bank full-time (more than 3 years)

    Pros

    Met some really interesting people.

    Cons

    many people here are not friendly and don't speak to you

    Recommends
    Positive Outlook
    No opinion of CEO
  10.  

    Horrible experience, & place to work. Wouldn't tell my worst enemy to work there.

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

    I worked at Amalgamated Bank full-time (more than 3 years)

    Pros

    There's no accountability. NO one was provided with goals, so, when Performance Review time came, it was "shooting from the hip" on their part.

    Cons

    Cronyism. Saying they weren't going to hire any more, and then hiring people with ill-defined roles(who, we later found out, had close ties to the CEO....)

    Advice to ManagementAdvice

    Stick to your Business plan for more than 9-10 months!!

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

    Great Employer

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

    I have been working at Amalgamated Bank full-time

    Pros

    An exciting company to work for

    Cons

    Very little growth and career advancement

    Advice to ManagementAdvice

    Qualification should be considered for upper management along with experience

    Recommends
    Negative Outlook
    No opinion of CEO

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