Amscot Financial

  www.amscotfinancial.com
  www.amscotfinancial.com
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Amscot Financial Reviews

Updated September 6, 2014
Updated September 6, 2014
61 Reviews
3.1
61 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Amscot Financial CEO Ian MacKechnie Sr.
Ian MacKechnie Sr.
36 Ratings

Review Highlights

Pros
  • Very good pay considering you don't need a college degree (in 9 reviews)

  • Great starting pay without a college degree (in 8 reviews)


Cons
  • There are no sick days and you will most likely work holidays (in 13 reviews)

  • work long hours, no sick time, work every day first week of the month (in 8 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1. 1 person found this helpful  

    Easy job with great co workers

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

    I have been working at Amscot Financial full-time for less than a year

    Pros

    the daily things you do are very routine, and simple to grasp. you get lots of hours, with regular over time. there seems to be lots of room for growth and advancement. there are lots of checks and balances, so its really hard to screw up. it stays busy so the day goes by fairly quickly.

    Cons

    sometimes I don't get to eat. ive learned to bring snacks to eat between customers, and drink lots of water to stay full, but a designated lunch time would be wonderful. we are on our feet for 8-10 hours a day, making you a profit on average of $500/day per associate, I don't think that asking for the ability to sit down and eat for 30 minutes is requesting much. Also, there isn't much incentive to move up. The opportunity is there, but you only get a .50 cent raise, with a lot more responsibility and hours. I know AL's who would make beautiful Co leaders and Branch Leaders, but wont do it due to low incentives. Sick days would be wonderful too.

    Advice to ManagementAdvice

    Stop advertising that you still give gift cards and personal days during week one training, because they are no longer given, at least in the Orlando area. I was very disappointed. What is the point of meeting these weekly/monthly goals, if there is no reason to?

    Recommends
    Positive Outlook
    No opinion of CEO
  2.  

    Assistant Leader

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Amscot Financial

    Pros

    Very good wages considering it requires you to have a GED

    Cons

    Secure,closed environment. Longer shift and hours

    Advice to ManagementAdvice

    n/a

  3.  

    Very Long Hours but great pay

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Branch Co Leader  in  Tampa, FL
    Current Employee - Branch Co Leader in Tampa, FL

    I have been working at Amscot Financial full-time for more than a year

    Pros

    They pay really good over time and they advance you really quickly
    with a lot of training

    Cons

    No social life, hard to take days off, always feeling pressure even if you make one mistake
    not passionate about their associates

    Advice to ManagementAdvice

    Care about your associates, send out a survey to associates about likes and dislikes about their
    position,

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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  5.  

    No work/life balance

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Branch Leader  in  Tampa, FL
    Former Employee - Branch Leader in Tampa, FL

    I worked at Amscot Financial full-time

    Pros

    Good money, good support from management.

    Cons

    No Work-life balance. Benefits such as sick time, insurance for family, costs you everything you make. The Branch Leader is expected to be on call 24 hours a day, even though most could be handled from the corporate office, it never closes.

    Advice to ManagementAdvice

    Reward your good leaders. When 1 branch can profit the company 1 million a year, looks like that could flow down to the employees and give them paid sick time and better insurance.

    Positive Outlook
    Approves of CEO
  6.  

    FSA

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Services Associate  in  Tampa, FL
    Former Employee - Financial Services Associate in Tampa, FL

    I worked at Amscot Financial full-time for less than a year

    Pros

    The pay is decent, especially if you do not have a degree. Uniforms make getting ready for work easy

    Cons

    The hours suck. You get two days off per week and only one may be a weekend. It was also hard to move up to, say, corporate positions.

    Advice to ManagementAdvice

    Try to make schedules where employees get one full weekend off a month, or allow people to trade shifts (like in retail or restaurant serving). Everyone would probably be happier.

    Recommends
    Neutral Outlook
    No opinion of CEO
  7.  

    Great Career Opportunity, Long Hours

    • Comp & Benefits
    • Work/Life Balance
    • Career Opportunities
    Current Employee - Assistant Leader  in  Winter Garden, FL
    Current Employee - Assistant Leader in Winter Garden, FL

    I have been working at Amscot Financial full-time for less than a year

    Pros

    Great opportunities to grow and learn. I work with a group of intelligent, generous people that make me feel comfortable at work.

    Cons

    Long hours throughout the day. unsteady work hours. long shifts which makes if difficult to balance a schedule especially if you're a single parent.

  8. 2 people found this helpful  

    GET READY TO READ!! But Its For Your Own Good!! -- On Call 24/7 & Treated Like Next Day Trash Sometimes!

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

    I worked at Amscot Financial full-time for more than 5 years

    Pros

    *Starting pay is decent for not needing a college degree ($12/hr...usually increases for those with prev. management experience. Some start at $15/hr).
    *Got a paid day off + a percentage of your check salary quarterly for being a "Perfect Performer" (i.e. not showing up late, no customer complaints, no cash errors).
    *Would get publix gift cards ($5 each) for meeting goals of the branch. Sometimes you could get up to $30 worth or more all at once depending on how many goals you met.
    *Co workers are usually cool and great to work with.
    *Love the customer interaction everyday (although some transactions are tough to handle...i.e. collecting money).
    *If you're lucky you'll get a perm branch where the branch manager cares about your outside life and works with you on the schedule (when absolutely necessary).

    Cons

    *Behind locked doors and bullet proof glass for your entire shift and unable to leave for a well deserved lunch ***SEE MY LAST LISTED "CON" IN THIS SECTION TO SEE WHY***

    *Benefits are somewhat of a joke compared to comparable financial companies and banks. They are just the basics. Although the company had good hourly pay...most employees were still unable to pay for the insurance costs and looked elsewhere. They have 3 Levels of Insurance plans. And family insurance plans were the worst depending on which level you wanted....certain ones would have you pay $400+ EVERY TWO WEEKS! After I had my daughter just about 2 years ago, if I opted into the family plan, my insurance would have jumped from under $60 for myself to almost $300 every 2 weeks just to add her!! I want good insurance but I don't throw my money away either.

    *Although things got a little better as time went on (after much complaining), it was was hard to take your full break or even get a break on the busiest days of the year or even on regular days.

    *Travel can be a pain at times. Depending on where you live and traffic, your drive to work could take up to an hour to and from you branch location.

    *No work/life balance: hours are all over the place and it's hard to schedule a day at home or out with friends on your day off because you're always worried about being called in (and if they do call and you say you can't make it they get an attitude as if you are not allowed to have a life). Branch managers work 6 days and over 70 hours on busy weeks. And even on the 7th day it isn't a real day off because work can call you for anything from cash issues to needing you to come in because the customer volume was too high.

    *Schedules are so random that i've had days working closing shifts (getting home at midnight) and having a schedule change to where I opened the next day (getting up at 4:30am) leaving me, at most, with about 2 hours of sleep due to travel times to and from branch location.

    *They require schedules to be posted 2 weeks in advance but they change almost every day without notice (sometimes calling you after you've went home for they day, at times after 8pm at night, to tell you that you are no longer off work the next day and you need to open the location).

    *Slower branches sometimes require you (AL's or FSA's) to work full Saturday schedule (open-close 7am-10pm) which are longer than operating hours so you are technically there from 6am to 11pm due to specific opening/closing procedures. Never understood this because branches have enough employees to where no one has to work hours like that..especially is you are not a branch manager or higher.

    *Employee reviews were sometimes inaccurate (no one is perfect so I understand not giving a perfect score, but even when employees ranked high, district managers had the nerve to send reviews back saying the score was too high and almost seemed to demand that the branch manager find something the employee needed to work on to lower the score).

    *Overheard branch manager picking on lower level employee about the way they looked or about the car they drove all because they weren't some big shot branch manager making an ungodly amount of money for doing nothing at all! Some are quick to assign you their work and take the credit for it,

    *I've seen employees quit, sent to other branches or flat out fired after voicing their opinion. After the employees let the branch manager know their concerns it was like the branch manager, from that point on, tried to find everything wrong with the employee to report back to district or human resources to get them out of the branch by saying things like "they just don't want to be here" or "I just don't believe they have what it takes."

    >>>>> AND THE DANGEROUS PART!!!:

    You collect money from people at the window who bounce checks and have overdue loan payments; puts you in a dangerous spot when taking someones full pay check they've worked for the last two weeks and they didn't even see it coming (and I know this because i've had people wait on me outside at night after I was forced to take their entire check even though they wanted to make payments on the amount). I understand they owe money to the company but there has to be a better way to handle these collections practices. When we leave work and there is nobody there to follow us home and make sure we're safe, it's a scary feeling knowing someone could be watching until the coast is clear and find out where you live by following behind you from a distance. Customers have threatened to beat me up, put me in a hospital and I even heard one customer tell a fellow employee she hoped they got ran over in the street by a truck. At one point, my family was begging for me to quit. The stories got to be too much for them to hear about. I've seen employees in tears with male customers telling them they were going to find them in the street when they least expected it.

    Advice to ManagementAdvice

    There is an understanding of "no schedule restrictions" but no where in that understanding did you all discuss getting few hours of sleep and little to no home life. Long hours are expected but you have to do better when it comes to scheduling. Allow employees to take their full lunch breaks. Let those high scoring reviews stay the way they are! There's a reason they're that way...BECAUSE THE EMPLOYEE DESERVED IT! Their raise depends on it so stop cheating them out of what they deserve. AND MOST OF ALL, please stop letting people collect money at the window from overly hostile customers. While you are sitting in your nice and comfortable office chairs from a million miles away, your employees are being told they are going to be in a hospital by sun down! I would rather you block the customer for life and proceed with legal action then to risk the life of your employees. While you are giving the command OVER THE PHONE to collect the money, the only thing that hostile customer is going to remember....IS THE FACE OF THE PERSON WHO SAID THAT THEIR RENT, PHONE BILL, WATER BILL, LIGHT BILL or CAR NOTE MONEY WAS NO LONGER THERE!! GET A GRIP AND STOP PLACING YOUR EMPLOYEES AT RISK.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  9.  

    No persona life

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Branch Manager  in  Tampa, FL
    Former Employee - Branch Manager in Tampa, FL

    I worked at Amscot Financial full-time for more than 3 years

    Pros

    Good pay, but thats it!!!

    Cons

    Long hours, some associates have every other long Saturday, from open to close, which means 16 or 17 hours depending on what branch you are in. No room for personal life!!!

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  10. 2 people found this helpful  

    Not for everyone.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Branch Co Leader  in  Miami, FL
    Former Employee - Branch Co Leader in Miami, FL

    I worked at Amscot Financial full-time for more than a year

    Pros

    Good starting pay, quick promotions ($0.50 raise per promotion), plenty of cash-handling experience and management experience if you work hard and get promoted, great training, good gateway into finance industry, promote only from within, no degree or experience required, fast paced environment, usually at LEAST 40 hours weekly- rarely will you have less than that, 40 hours of vacation after 1 year

    Cons

    As stated in the title, Amscot is not for everyone. The starting pay is good for entry level work. However, there are no cash incentives and the benefits are not very good. The only bonus you get is quarterly and it's 10% of your last paycheck. But you need to meet some requirements first which may prove challenging.

    Unfortunately, Amscot work schedules really don't allow for a life outside of work. You have one weekday off and one weekend day off (i.e Thursday and Sunday or Tuesday and Saturday, etc). However, you very well might find yourself closing the night before your day off (10pm if it is not a 24 hour branch) and opening the morning after your day off (6am). My regular schedule consisted of just that: closing Monday night, off Tuesday, opening Wednesday; then, working all day Friday until close, off Saturday, then working Sunday open to close. On my days off I had to squeeze in essential chores (laundry, cooking, cleaning) while keeping in mind that I only had that one day to catch up on sleep and had to be up at 4 am the next day. I found myself not being able to have any sort of social life outside of work and I had to stop taking classes because my schedule would not allow for it either. (Amscot also discourages school or a second job outside of your job with them, they do not want anything interfering with your life at Amscot.)

    If my branch leader went on vacation, we ran our store with a person short and we all worked crazy amounts of overtime. One such week, I worked 108 hours in 11 consecutive days. If someone has an emergency and absolutely cannot come into work then someone else has to cover that person and probably work a 16 hour shift.

    At Amscot, you can easily find yourself working 10-16 hour shifts. There are no sick days and you will most likely work holidays. I worked Thanksgiving, Christmas, and New Years (FYI, New Years is regular hours, I had to be at my store at 6am.)

    You are constantly on your feet. There are no designated break times. If it is slow, you may go back and eat if everyone else has eaten. However, if it is busy, you might not get to eat.

    Lastly, numbers are not looking well in Miami. Amscot is relatively new in the area and they are facing challenges they clearly did not anticipate. Unfortunately for the employees, the "higher-ups" are putting pressure on them to make unrealistic goals happen. There are no sales goals but every branch is expected to be under a certain percentage in losses and above a certain percentage in revenue. Junior management is basically being told to bring down losses and bring up collections, but there is no further incentive. Only so much can be done from the desk (all you can do are your collection calls).

    With all of the pressure trickling down to employees, this company, especially in the Miami area, is seeing a tremendous amount of turnover. Branches are understaffed, employees are then overworked to compensate, and there are no incentives. And there is really only negative reinforcement from your management.

    You will make pretty good money and definitely get great training and experience at Amscot. But you will also work like an animal and possibly be miserable, as seems to be the case with most people working there.

    Advice to ManagementAdvice

    Offer more incentives to employees. Reward employees that have worked hard and stayed at the company for a long time. (More than just a card and pin on your 1 year anniversary.) Don't hold employees to unrealistic standards when it comes to collections and sales. Also, hire more staff per branch and offer sick days. No one should feel forced to come to work when they are sick. It is counterproductive and will only cause other branch employees to get sick and create a cycle of non-productive people.

    Consider closing slower branches and bringing those employees to busier ones. It would bring down your losses and allow employees to have better schedules with less demanding hours. It would ease the burden from the overworked employees at the busier branch and allowing the employees from the slower branch to have more hours. Employee satisfaction is EQUAL to customer satisfaction for the success of a business.

    Start a cycle of positive reinforcement. Too many of your employees feel bogged down and discouraged by all of the negative reinforcement coming from upper management. Teach your district managers to create a more welcoming atmosphere and to offer positive reinforcements for every negative one they hand out.

    Care more about your employees. It's good to care about your customers but don't forsake your employees in the process. You are losing great employees because they feel under appreciated and over worked.

    "Take care of those that take care of the business that takes care of you."

    Amscot can be a great company if you make some vital changes.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  11.  

    Alright

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Services Associate  in  Saint Pete, FL
    Current Employee - Financial Services Associate in Saint Pete, FL

    I have been working at Amscot Financial full-time for less than a year

    Pros

    Base Hourly Ok, Overtime Hours. If you make a mistake, it's not the end of the world. Can move up fairly quickly. Full benefits.

    Cons

    Don't request a day off between the 1st-5th of the month. Bring your lunch, your not allowed out of the office area until the end of your shift. Can't have a second job if you need one to help support your family. Branch leaders get paid hourly, work 55-60/hrs a week, no acceptations.

    Advice to ManagementAdvice

    Don't contradict yourself every 3 months

    Recommends
    Neutral Outlook
    Approves of CEO

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