There are newer employer reviews for Sovereign Bancorp
There are newer employer reviews for Sovereign Bancorp

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Could have been better.

  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Former Employee - Anonymous Employee
Former Employee - Anonymous Employee
Recommends
Negative Outlook
No opinion of CEO

I worked at Sovereign Bancorp full-time

Pros

Convenient hours, Pays moderately for entry-level, good training.

Cons

Unfriendly customers, Outrageous fees, Only a 10 cent raise in 4 years, Lazy management, Insane monthly sale-goals.

Other Employee Reviews for Sovereign Bancorp

  1. Helpful (1)

    Trying to compete with the big banks.... and failing!

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Specialist in New York, NY
    Current Employee - Financial Specialist in New York, NY
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I have been working at Sovereign Bancorp full-time (Less than a year)

    Pros

    -Base salary is ok -20 PTOs(you will need these and more!)

    Cons

    -Software is terrible and very limited -micro management is abundant at every level -management hires are questionable -poor work/life balance -bonuses are constantly delayed and impossible to track. -production is also difficult to track, even though they collect sales numbers every 2 hours. There is no centralized database showing what you have sold. You just have to assume that what they payout is accurate -too many conference calls, takes away from actual sales activity -I was told by senior management that "appointments and participation are more important at this moment than actual sales production"

    Advice to Management

    Cut back on the conference calls and "trackers", focus more on creating a productive sales environment


  2. Helpful (2)

    Dont get taken advantage of

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Branch Operations Manager in Boston, MA
    Former Employee - Branch Operations Manager in Boston, MA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Sovereign Bancorp full-time (More than 3 years)

    Pros

    Star employees keep this company running. Make good friends with them as you will most likely see them in higher positions in other banks very soon.

    Cons

    Lack of training, constantly understaffed, non-existent back office/support team, lack of strong leadership, disrespectful sales strategies.

    Advice to Management

    Share with market directors that lack of staffing does not mean that you continue employing employees who actively do not want to work here. Conversely do not allow being short staffed get in the way of taking care of good and long tenured employees. Basically get your act together and understand that staff are the face of your company. Currently that is of an overworked, under trained and overwhelmed workforce with a constantly changing chain of command and pay structure.


There are newer employer reviews for Sovereign Bancorp
There are newer employer reviews for Sovereign Bancorp

See Most Recent

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