Amscot Financial Reviews

Updated March 15, 2015
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  1. Great Pay. Good job for singles, not so much for family life.

    • 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 (more than 8 years)

    Pros

    60,000.00 dollars a year. Great training, (Continual)

    Cons

    Very expensive insurance, No work Life Balance. Hourly pay is great, but bonuses are a carrot on a stick you just never get.

    Advice to ManagementAdvice

    We used to have good insurance when we had Great West. Now you have United Health Care. Taper back building new stores and put some of that money into the people that got you where you are.

    Recommends
    Positive Outlook
    Approves of CEO
  2. Horrible

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Amscot Financial

    Pros

    Great pay!! Great pay!!

    Cons

    Management is all about them

    Advice to ManagementAdvice

    To be fair rotate the schedule with everyone!

  3. 2 people 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 (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
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  5. Well....

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

    I worked at Amscot Financial (less than a year)

    Pros

    You got decent pay when you compare it to other financial institutions. There's a good chance to grow within the company as they only promote from within and the company is growing. Company has you under constant training. Very undertanding at first.

    Cons

    Management couldnt care less about you, your time or your needs. Every two weeks the branch manager creates a new work schedule and unless you are one of their favorites, you are getting the worst of it. I worked under 5 differents Branch managers in my time there, so yes, I know what Im talking about. The enviroment is not the best either, you think you are creating friendships as you move from one branch to another but later find out they are backstabbing you just to get under someone's good side.

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
  6. 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 (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
  7. 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

  8. 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
  9. 1 person found this helpful

    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 (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
  10. 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 (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.

  11. 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 (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

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