There are newer employer reviews for Barclays Wealth

4 people found this helpful  

Antiquated Systems, Massive Bureaucracy, Intensely Political

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

I have been working at Barclays Wealth

Pros

1. Great brand recognition.
2. Possibilities with BarCap.
3. Geographical spread.
4. If you are "favoured" progression can be swift and renumeration deep.

Cons

1. Intensely political - be prepared! There are practically internal political parties in this business!
2. Massively bloated with administrative employees and bureaucratic systems - as a result it takes ages to get anything done
3. No accountability - people get away with things here that would get you fired in a properly run business. Passing the buck is an Olympic sport here.
4. Management is too remote and obsessively focused on navel gazing activity which only serves to make them feel like they are doing something.
5. Short termist outlook - management is focused on the next promotion, their next payout and not on the long term things necessary to make the business succeed.
6. Demigod complex - senior management (and their lackeys) act like they are a superior form of life - and any interaction with them or involving them must be sanitised, cleansed and processed to be deemed worthy.
7. Compensation - Don't believe the hype - the comp is horrible and well below market competitors - that's why there is massive turnover in all sections - especially HR.

Advice to ManagementAdvice

1. Actually care about the business you are building - some face time with your subordinates and producers within the business will not impede your next pay round.
2. Fight the flab - you can safely eliminate 50% of the administrative staff and free up producer time by implementing systems and process that actually work. This would massively reduce bureaucracy and internal politics.
3. Share the wealth - we have to take the flack of "barclays paying huge bonuses" but you get 90% of the "funds set aside for the bonus pool." Spread it around a little and you have happier workers, less turnover.
4. Embed accountability - if people make mistakes that cost the business and client's money, they should be appropriately dealt with, not molly coddled.

Disapproves of CEO

117 Other Employee Reviews for Barclays Wealth (View Most Recent)

Sort: Rating Date
  1. 4 people found this helpful  

    Overall, not a great place to work

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

    I have been working at Barclays Wealth

    Pros

    - Friendly people
    - Challenges make work interesting

    Cons

    - Lack of a coherent implementation of a firmwide plan for improvement
    - Constantly changing (but not improving) internal environment due to changes in strategy, short-termism, high turnover etc.
    - Poor firmwide performance and strategic bonus allocation towards front office results in poor compensation for everyone else
    - Too many MDs and Ds, making it extremely political and increasing the amount of conflicting messages. Too many people giving instructions, not enough actually doing work.

    Doesn't Recommend
    Disapproves of CEO
  2. 1 person found this helpful  

    Wad a good experience for developing my career, could not see this as a long term role though

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

    I have been working at Barclays Wealth

    Pros

    Global presence presents many oportunities and confidence in the brand.

    Cons

    Can be a typical ruthless plc. Local leadership issues caused for an unpleasant envirnoment to work in from time to time

    Doesn't Recommend
    Approves of CEO
There are newer employer reviews for Barclays Wealth

Worked for Barclays Wealth? Contribute to the Community!

Your response will be removed from the review – this cannot be undone.