Ally Financial

  www.ally.com
  www.ally.com
There are newer employer reviews for Ally Financial

 

Caveat Emptor

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Former Employee - Product Manager in Charlotte, NC
Former Employee - Product Manager in Charlotte, NC

I worked at Ally Financial full-time (more than 5 years)

Pros

401k; I was able to save more in 5 years with Ally than I did in almost 8 years with my previous employer. This was due to a generous company match and year end discretionary contributions for 3 years running.

Cons

Lack of leadership at mid and upper-mid levels; Directors and 'Executives' (@ VP level) are weak in terms of leadership skills; many lacking in vision-setting and overall charisma.

Chaotic work environment; exceptionally high turnover rate; +35% within my functional area over the prior 2 year period coupled with layoffs in early February that caught many off guard. Not a place where you look forward to going to work every day.

Advice to ManagementAdvice

LEAD comes across as just another management catch phrase du dour. Senior leaders need to be more visible to the rank and file in locations outside of Manhattan.

Doesn't Recommend
Negative Outlook
Disapproves of CEO

233 Other Employee Reviews for Ally Financial (View Most Recent)

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  1.  

    Get some good experience and then move on quickly.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior IT Manager in Detroit, MI
    Current Employee - Senior IT Manager in Detroit, MI

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

    Pros

    The best part of working at Ally is the compensation and benefits packages are above average. Dollar for dollar match on the 401K up to 6% and they even kick in some occasional discretionary dollars if the company is performing well. Their bank office in uptown Charlotte is nice. Strong CEO. You'll work with some great people. Very friendly environment. Bonus plans are nice if you're lucky enough to get one.

    Cons

    Ally is a company that is in a lot of transition right now. Their two biggest goals right now are to take the company public and pay off the remaining debt as part of TARP. With that transition comes a lot of ciaos. Recent significant reduction in force has put even more work on people that already have workloads they can't handle, which has caused even more people to leave. Lots of indecision on direction at the mid - senior management level. Promotions do happen, but they're rare. A lot of hiring from the outside instead of promoting from within. Very dependent on the auto industry and GM. Any slowdown in people buying cars has significant impact on the company's performance.

    Their HQ office in Detroit Renaissance Center isn't so nice. While access to the Ally offices is secured, the rest of the building is open to the public. So you get your share of homeless/scary people wandering around in the building. There is some security and police presence, but they're not always around. Good luck getting on-boarded in a timely manner. I've known people that have waited a month to get their PC, accounts and access all set up. Lots of turnover in IT over the past year has created a "blind leading the blind" environment. Once the company goes public this year, expect the senior leadership team to cash in and hit the road.

    Advice to ManagementAdvice

    Bring back management evaluations for the employees so that you can identify your weakest leaders and get rid of them, and retain your best ones. How does a company of this size and stature operate without giving their employees a chance to provide feedback on their management?

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  2. 1 person found this helpful  

    Ally Bank

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Manager in Charlotte, NC
    Current Employee - Manager in Charlotte, NC

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

    Pros

    Generous PTO. Leinient Tuition Reimbursment policy. Direct Management allows work/lige balance

    Cons

    Company is too vertically aligned with departments too often bickering rather than working together

    Advice to ManagementAdvice

    Change to a more horizontal structure with SME on leadership teams that can address all risk, compliance, legal, accounting/finance, etc concerns

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
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