There are newer employer reviews for PNC Financial Services Group

 

Awesome Company

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Current Employee - Retail Intern in Chicago, IL
Current Employee - Retail Intern in Chicago, IL

I have been working at PNC Financial Services Group as an intern (less than an year)

Pros

Love this company, learn a lot about the banking industry

Cons

need more oppurtunities in Chicago

Advice to ManagementAdvice

Management is awesome

Recommends
Positive Outlook
Approves of CEO

1166 Other Employee Reviews for PNC Financial Services Group (View Most Recent)

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  1. 4 people found this helpful  

    Great company but growing concerns.

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

    I worked at PNC Financial Services Group full-time (more than 5 years)

    Pros

    Great Culture. Loved my co-workers. Company is top 10 largest bank in the country and flies under the radar as a small bank which most people like. They kept themselves out of the financial mortgage mess and have a great story to share with clients. Cross selling and Referrals are bountiful making any sales job a little less stressful.

    Cons

    Technology is horribly old and constantly breaking down at all times...and the wrong times. I have literally lost clients as a result of it. Websites have been hacked dozens of times. They wont replace because of the ease of upgrading and cost it would incur. Like working with your crazy old uncle who insists he will drive his 1976 Ford pickup with 300k miles into the ground before he buys a new one.

    Consistency in understanding policy and procedures is a struggle. You can call 4 different people in customer service to have a question answered and get 4 different answers leaving you to have to wing it with a client. Not good.

    Management is only concerned about you as a production number...not as a person...but that should be expected from all FA positions. Produce and you are a rock star. Don't produce and its nobody's fault but yours and you will be treated like you have the plague with nobody else taking responsibility or offering anything in the way of support or ideas because they are so scared of compliance. If you think outside of the box then this is not the place for you. There is definitely a "get in line and follow the lemmings over the cliff" mentality here.

    They have nothing new to offer in form of sales/marketing/promotion or in capturing new business and sales meetings turn into just pushing the same tired ideas your great grandfather used to sell because it works great in SOME markets ...ergo... it must work great in ALL markets, right? Very closed minded.

    There has been many changes recently causing an exodus of upper and middle management including the CEO retiring. Sometimes this can be good and may still be...time will tell...but right now there are too many people with new cushy titles trying to assert themselves without much direction back up the chain of command causing many to have 2-4 different bosses contradicting each other as far as what can and cannot be done. Proper communication is a lost art form. Many of these "new hires" are so used to doing business the Wells Fargo or BofA way....not the PNC way... which is becoming a cancer just spreading. PNC bank seems to me to be trying to be the new Washington Mutual....no tellers, no cash handling, just point you to the high tech ATM and be a hostess. This concept will not be receptive with older customers (the ones WITH money) and will hurt business without doubt which to me seems to be why they are cutting so many corners in anticipation of this.

    Advice to ManagementAdvice

    PNC is trying desperate to become a major player in wealth management but do nothing to parlay several opportunities they have at their disposal including just easy things....like the fact they own 20% of Blackrock. Millionaires know and trust Blackrock. They don't know PNC or trust banks but rich people still put their money with Merrill Lynch...not with Bank of America...get it? Use the name people know...not the one people don't know or don't care about. Expand the portfolios and products so that there are true solutions for everybody....too often advisors are putting square pegs into round holes just so they can feed their family or worse save their job being its a 100% commission position...this is going to cause problems if it has not already. If you keep treating advisors as production numbers you're going to keep having high turnover. If that is part of the business model to be an agent mill then you are doing an excellent job.

    Recommends
    Neutral Outlook
    No opinion of CEO
  2. 2 people found this helpful  

    A terrible learned lesson, should have listened to gut instinct and fellow industry colleagues.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Advisor in Cleveland, OH
    Former Employee - Financial Advisor in Cleveland, OH

    I worked at PNC Financial Services Group full-time (less than an year)

    Pros

    There is an opportunity to have success at PNC Financial Services Group.

    Cons

    Key to the comment, "There is an opportunity to have success at PNC Financial Services Group", if you are hired into the right position and environment. Was hired in as a central financial advisor, hiring manager wore too many hats and completely over their head. Because there were no vacancies in the central financial advisor position when finally hired aboard, I was shuffled out to branch hub. It was learned quickly there my skills and skills required for position a large disconnect. I requested prior year production numbers, to find multiple advisors had come and go and production levels equated to earnings of a fast-food chain fry cook. Further, the PNC "culture" is challenged at multiple levels. There seems to be no fluid process, business model lacks testing, compliance department pleads for adherence to rules and regulations, technology is outdated, disconnect between retail bank motivations and retail investments motivations, and overall operates in controlled chaos.

    Advice to ManagementAdvice

    Please do not sell to a recruit what you cannot deliver; leading expectations and unable to provide concrete results. Provide a recruit the honest upfront challenges and expectations, may make wonders in obtaining the right employee instead of a revolving door. Advice to Upper Management, provide clear and defined objectives - allow your managers to make their own decisions, instead of having to check with supervisors constantly. I've never heard more - "I sent an email and haven't heard back" - in all my life. Last time I checked, the financial services industry is a people industry and not manufacturing - pick up a phone people.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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