EBRD

  www.ebrd.com
  www.ebrd.com

EBRD Reviews

Updated December 11, 2014
Updated December 11, 2014
41 Reviews
3.1
41 Reviews
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EBRD President Suma Chakrabarti
Suma Chakrabarti
9 Ratings

Employee Reviews

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  1. 1 person found this helpful  

    FI Department - B category of managers who are afraid to be outshined

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee in London, England (UK)
    Current Employee - Anonymous Employee in London, England (UK)

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

    Pros

    Job security - nobody ever gets fired (even if they suck consistently)

    Cons

    As my friend (who left after a year to join Citi) put it - "I have never felt more exploited than here". Basically the business model is as follows: hire mostly C category of profesionals (from fear to be outshined); and a limited number of bright young things who are first used/exploited (without developing them or giving them appropriate rewards) and then get rid of them... Longest contract you can get these days is 3 years, with 6-12 months contracts being more usual, with no guarantee of extension. The worst part - you'll be working for senior people most of whom (with a few exeptions) are not particulary smart but know how the system works and secretive not to develop young people who can outshine them (eg. you won't get direct assess to clients, won't be copied on important emails etc), uninspiring, non-charasmatic and frankly would not have made it to the current levels in the "real world". Politics/favouritism etc are even worse than in private sector despite having less to share. My advise - if you have an offer from FI, stay away from this swamp...

    Advice to ManagementAdvice

    New charasmatic CEO is trying to modernise this hydra but it's not an easy job, particularly if you have outdated/ unmovable mid-management which you can not get rid of. My advise would be give more opportunities to talented young people who are currently repressed, pick them up from under their unispiring managers, develop them as management reserve using modern management/coaching techniques for a modern transperant business culture.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  2.  

    Appalling

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

    I worked at EBRD as a contractor (more than an year)

    Pros

    Met some really nice people worth keeping in touch with.
    Nice offices
    Good CV experience
    Great cafeteria

    Cons

    Some people are in management roles although they are not cut for it. They are given the power of making decisions, when in reality they should just be kept in normal administrative positions. Unnecessary management positions are create in order to get some individuals advanced, when in reality there is no need for them to do so. Progression is very often stopped due to these individuals' personal dislikes, not considering that hard worker employees could actually be a good asset for the Bank.

    Advice to ManagementAdvice

    Invest more in young management. Invest more on people who actually value work integrity more than a glass of wine (or two) over lunch hours.

    Doesn't Recommend
    No opinion of CEO
  3. 1 person found this helpful  

    One of the most disorganised I.T depts I have ever worked in with my 20+ years experience.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - I T SUPPORT in London, England (UK)
    Current Employee - I T SUPPORT in London, England (UK)

    I have been working at EBRD full-time (less than an year)

    Pros

    An investment bank role looks good on my C.V! That's about it. Was not entitled to any staff benefits being a external contractor (which is fine) but yet expected to perform to the same level and motivation as perm' staff who get many rewards and we were part of the same team.

    Cons

    Management very adverse to positive change and progression. Many have been there for years so have their 'best friends' working alongside them so there is a very 'clicky' culture and if you do not fit in - do not expect to go far.

    Advice to ManagementAdvice

    See past your own appraisal/bonus objectives, appreciate the constructive feedback received from staff (certainly new ones who have more experience in differing roles and come to EBRD with fresh eyes/ideas)and work with them to ensure a more robust I.T dept.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
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  5.  

    Temple of beaurocracy

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Procurement Manager in London, England (UK)
    Former Employee - Procurement Manager in London, England (UK)

    I worked at EBRD full-time (more than an year)

    Pros

    Lovely subsidised staff restaurant
    Highly paid for what you do
    Other benefits

    Cons

    Management are out of touch beauraucrats
    More interested in processes and compliance than anything else
    Other comp and benefits

    Advice to ManagementAdvice

    Allow staff to add value not just be guardians of restrictive processe. In some areas such as consultancy services and procurement you could cut staffing by a quarter if you werent just tying to make stakeholders stick to ludicrous processes.
    Stop wasting money on inefficient procurement hiding behind 'quality not cost' (really meaning it allows itself to get ripped off).
    Minimise comittees (everything and I mean everything decided by comittee)

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  6. 3 people found this helpful  

    Amazingly, this organization gets even more bureaucratic day-by-day. Senior management are ossified dinosaurs!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Director in London, England (UK)
    Current Employee - Director in London, England (UK)

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

    Pros

    London location and it is a job.

    Cons

    Supremely self-satisfied Orwellian bureaucracy that accomplishes little other than pushing paper.

    Advice to ManagementAdvice

    Cull ranks of senior management. Avoid needless duplication of mission by folding EBRD into Iternational Finance Corporation. Perhaps it has outlived its purpose.

    Doesn't Recommend
    Negative Outlook
  7. 1 person found this helpful  

    1984

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Head of Budget, IT, Financial Policy in London, England (UK)
    Current Employee - Head of Budget, IT, Financial Policy in London, England (UK)

    I have been working at EBRD full-time (more than 10 years)

    Pros

    Great location for HQ in the middle of Broadgate, beautiful building, larger than normal offices, fabulous subsidised cafeteria, very tiny chance of going out of business despite having done almost nothing tangible to help democracy flourish in post Communist world (per original mandate)

    Cons

    Mind numbing and soul destroying bureaucracy which excels in self-justification, spending other peoples taxes and convincing themselves they are not simply parasites.

    Advice to ManagementAdvice

    close up shop, return initial capital to shareholder nations, and let employees join the private sector before their skills further atrophy

    Doesn't Recommend
    Neutral Outlook
  8. 4 people found this helpful  

    Still behind the curve after all these years

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Director in London, England (UK)
    Former Employee - Director in London, England (UK)

    I worked at EBRD

    Pros

    London location. Business class travel. HQ meetings which keep you from field work. Non-demanding, derivative nature of the work. Pompous policy and self congratulatory pr efforts.

    Cons

    The ultimate bureaucracy, that always misses the boat in supplying needed investment products. A London-based, self-satisfied, ivory (tavertine marble) multi=lateral financial institution. The IFC runs circles around EBRD.

    Advice to ManagementAdvice

    Declare victory, close up shop, return initial capital to shareholder nations, and let employees join the private sector before their skills further atrophy.

    Doesn't Recommend
  9.  

    New talented, smart employees do not stay very long when they realise what the Bank is really like.

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

    I have been working at EBRD full-time (more than an year)

    Pros

    Great work life balance
    Outstanding benefits
    Diverse

    Cons

    Slow paced and beuraucratic
    IT infrastructure is either 20 years old or non-existant
    Calibre of many employees is poor and individuals tenure is long as there is no where else for them to go and they are overpaid for what they do.
    The Bank employs more people than needed due to poor management and lack of any performance management frmework.
    New talented, smart employees never stay very long, once they realise what the Bank is really like they get out as soon as possible.
    Performance is measured by length of service resulting in people with very little experience in relatively senior positions.
    Office space is dated and uninspiring.

    Advice to ManagementAdvice

    The EBRD would benefit from some new commercial blood hired into senior management positions and then restructured in the lower levels. A move towards a performance based culture would allow the Bank to cut out "dead wood" allowing it to be more efficient and results driven. Abolish the Presidential structure where decisions are based on the politics of re-election as opposed to decision being made in the best interest of the Bank.

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

    Uninspiring, backward and behind the times

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

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

    Pros

    This company has a subsidised staff restaurant with a great menu. You will have job security for life and the benefits are quite attractive (great private medical insurance)

    Cons

    Senior Managers are very old fashioned and behind their times. Total lack of dynamic and forward thinking, unfortunately very much to the detriment of the organisation and the Countries of Operations who are supposed to benefit. EBRD likes to set high standards for clients but when it comes to its own staff doesn't follow the same rules (e.g. gender equality is pretty poor but EBRD expects its clients to put in place policies for gender equality that it doesn't even expect of its own staff). This company is very poor in adapting to changing economic climates. The recent modernisation programme has more style than substance. The One Bank programme was supposed to introduce "Efficiency", "Modern Culture", "Innovation" and "Impact". Nice intranet pages but no action and no implementation. Don't expect to see change. Its not just the COO that are stuck in transition (as the latest transition report suggests), this institutions is seriously stuck itself and lacks any entrepreneurial spirit. There is no link between performance and reward either. Which explains the poor performance of senior management. There is no reward for excellent work. Promotion is by years of service and not performance (although they are trying to change this, however, since change doesn't happen we are back to square one.)

    Advice to ManagementAdvice

    Sack underperforming managers and get rid of half of senior management. They neither inspire staff nor are the competent or capable stopping the younger generation of managers from moving this organisation into the 21st century. The staff survey even highlights that senior management have a poor perception but nothing is done about it or whatever they are trying to do is not effective.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  11. 1 person found this helpful  

    Typical government agency

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

    I have been working at EBRD full-time

    Pros

    Location of the HQ is London.

    Cons

    Senior management is not professional - old timers who occupy prestigious positions with slim chances for new blood to come and make impact
    Poor HR - made up of former secretaries with no real understanding of the issues

    Advice to ManagementAdvice

    Resign

    Doesn't Recommend

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