Bancolombia Reviews

Updated August 10, 2014
Updated August 10, 2014
9 Reviews

3.7
9 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Bancolombia President Carlos Raúl Yepes Jimenez
Carlos Raúl Yepes Jimenez
7 Ratings

Employee Reviews

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  1.  

    Good Experience

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Intern  in  Bogota, Cundinamarca (Colombia)
    Current Employee - Intern in Bogota, Cundinamarca (Colombia)

    I have been working at Bancolombia as an intern for less than a year

    Pros

    It has a very people oriented policy, which creates a very healthy professional environment. They believe that the happier the employees are, the more afficient they will be, so little details like recognitions, prices, etc, are very used by the company.

    Cons

    It is a very stable company, so they aren't many opporunities to grow in a professional way. Vacants are very low, so climbing the hierarchically its almost a lost battle.

    Recommends
    Neutral Outlook
    Approves of CEO
  2.  

    Excellent for low risk takers, otherwise can be frustrating

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Middle Manager  in  Medellín, Antioquia (Colombia)
    Former Employee - Middle Manager in Medellín, Antioquia (Colombia)

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

    Pros

    Flexible working hours. Good salary and financial benefits, it´s a bank! Headquarters buildings are beautiful and comfortable. Top brand and financially strong company. Abundant office resources. Minimum legal working requirements are always met. Excellent platform for interns, Bancolombia looks great in your resume. Create your own professional network with employees and vendors. Career opportunities for commercial roles. Great place to work for comfort zone oriented people

    Cons

    Tortuous and slow decision making processes, the organizational structure doesn´t help. Bureaucracy defines career paths for knowledge professionals. Process and technology oriented, people side of change is underestimated, that is why there are a lot of projects but few things actually change. Unionized employees are spoiled and make business processes more complicated. Innovation and new ideas are buried by the half empty glass approach, low risk taking culture and organizational policies. Poor strategy implementation despite the beautiful positive and visionary speech. Diversity is limited to gender, age and regional presence, and it is underrepresented in policy and decision making positions. Worst place to work for innovators, creative minds, trend setters and millennials. New tools such as social media are misunderstood and misused.

    Advice to ManagementAdvice

    Culture is one on paper and other in action. You can lead with example but are too afraid to make the difference. At top levels is pretty common to hear "I say X, but I don´t hold it", stop doing that, otherwise employees will never know who they can trust. Begin with individual accountability, it can be developed. Management positions should be seen as leadership opportunities instead of administrative roles to micromanage and to sustain the status quo. The CEO´s ethical approach gives hope, he is a good guy, but senior managers still don´t fully copy.

    I do recommend the company while employees get some professional experience and develop personal branding, but definitely not a place to work for a long period of time, you may want to move out quickly.

    Recommends
    Neutral Outlook
    Approves of CEO
  3.  

    coments

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Analyst  in  Medellín, Antioquia (Colombia)
    Former Employee - Analyst in Medellín, Antioquia (Colombia)

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

    Pros

    Its a good place to work depending on the area, if you are a developer or want a career in computer science maybe not the best place for you, all the development gets outsourced so you won´t get experience in that area.

    Cons

    hard to get promotions and to get a raise. Some managers are very disorganized in the IT area.

    Advice to ManagementAdvice

    none.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
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  5.  

    Young, energetic, and interesting IT staff - glorious facilities - but long commute

    • Culture & Values
    Former Employee - QA Solutions Architect  in  Medellín, Antioquia (Colombia)
    Former Employee - QA Solutions Architect in Medellín, Antioquia (Colombia)

    I worked at Bancolombia as a contractor for less than a year

    Pros

    I remember with pleasure all the people I worked with. I worked in their HQ building - THE most sumptuous, well designed working location of my many decades experience. Excellent cafeteria, striking artwork, I still remember vividly.

    Cons

    It's a long commute! It is hard to tear oneself away - last time I ended up spending twice as much time there as planned.

    Recommends
  6.  

    My first professional experience

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Gerente  in  Bogotá, Bogota (Colombia)
    Current Employee - Gerente in Bogotá, Bogota (Colombia)

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

    Pros

    It's the biggest bank in Colombian Market and one of the most important companies in Colombia, with high range of professional opportunities in Banking Services

    Cons

    It still doesn't have an important international presence. Career Opportunities are good for low level jobs but no for medium-high level jobs.

    Advice to ManagementAdvice

    The company should focus in not only improve customer service but in employees careers.

    Recommends
    Neutral Outlook
    Approves of CEO
  7.  

    Excellent, great company!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Director  in  Medellín, Antioquia (Colombia)
    Former Employee - Director in Medellín, Antioquia (Colombia)

    I worked at Bancolombia full-time for more than 8 years

    Pros

    1. Excellent benefits (healthcare, car insurance, loans and ongoing training and development).
    2. New and comfortable facilities.
    3. You got the chance to work with very smart and well educated coworkers.
    4. It is the biggest bank in Colombia and also Bancolombia is a strong and respected brand.
    5. Excellent opportunity for hard workers.
    6. Opportunity to move around to different areas and lines of business.

    Cons

    1. Slow decision making process can be frustrating.

    Advice to ManagementAdvice

    Invest more in virtual distribution channels (i.e. smartphone and internet).

    Recommends
    Positive Outlook
    Approves of CEO
  8.  

    Great life balance, not so great variable compensation

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee  in  Bogotá, Bogota (Colombia)
    Former Employee - Anonymous Employee in Bogotá, Bogota (Colombia)

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

    Pros

    Steep learning curve
    A lot to be done
    Growth Opportunities
    Great working environment

    Cons

    Not clear career path, slightly under average variable compensation, top management positions centralized in Medellin

    Recommends
    Positive Outlook
    Approves of CEO
  9.  

    Good company, and is flexible

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Supernumerary
    Current Employee - Supernumerary

    I have been working at Bancolombia

    Pros

    The benefist are very good, and is a huge company a the finantial sector in my country. Is very good work here.

    Cons

    The salary is not very high, and is very seriuos company, it needs more creative employes and be more lazzy

    Advice to ManagementAdvice

    We need to really know the business, and we need to do the things that we promise, also we have to improve the customer service.

    Recommends
    Approves of CEO
  10.  

    A good employer

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Manager  in  Medellín, Antioquia (Colombia)
    Former Employee - Manager in Medellín, Antioquia (Colombia)

    I worked at Bancolombia

    Pros

    Bancolombia is Colombia's largest Bank and has immense opportunities to keep on growing. This creates constant opportunities for its employees to grow with the Bank. The average employee is a good team player and in addition it has one of the most competitive compensation structures in the regional financial marketplace.

    Cons

    It can take to long to make important shifts on strategy. It is unacceptable to have the amount of unsatisfied clients this Bank has, and move so slowly to fix the problem. Senior management believes that a new IT system is going to get their productivity and client satisfaction on the rise, but from what I saw they are not familiar with the Murphy curve for IT implementations.

    Advice to ManagementAdvice

    They should promote the training opportunities for its employees and highly compensate and reward those who go far and beyond from their comfort zones. Some highly talented employees prefer to resign and leave the Bank to pursue additional degrees. If the Bank didn't limit itself to just two programs that promote studies abroad, it would enhance the global mindset and talent of its work force. The costs of such a program are low, when compared to the high value the returning employees add to the company.

    Approves of CEO

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