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

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Helpful (1)

Good international bank with limited growth

  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Current Employee - Associate in Boston, MA
Current Employee - Associate in Boston, MA
Recommends
Positive Outlook
Approves of CEO

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

Pros

Growing organization, safe bank, smart people, international presence.

Cons

Pay below industry average, Limited opportunity to move up if you don't speak Spanish

Advice to Management

Start valuing local talent

Other Employee Reviews for Sovereign Bancorp

  1. Helpful (2)

    Not a good experience

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Branch Manager
    Former Employee - Branch Manager
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at Sovereign Bancorp full-time (More than 10 years)

    Pros

    Long time employees are wonderful and supportive

    Cons

    Staffing issues are horrendous---new hires are not given the full picture of the stress environment that exists on a daily basis. Conference calls are so critical coming from upper management--there is little to no value given to employees efforts.

    Advice to Management

    Upper management should evaluate the way employees are stressed out to the point of leaving.


  2. Helpful (3)

    Although they pay well, the bank sucks as an employer. I am not a disgruntled employee.

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

    I worked at Sovereign Bancorp full-time (Less than a year)

    Pros

    Pay - they will pay more than the industry to attract you. Benefits - About industry average.

    Cons

    From District Manager level upwards - they have no care about true customer service, retention and growth. It starts with staffing at the branch level. Most branches have 1 or 2 Personal Bankers and 1 Branch Manager. No ABM. 50% of your time is supposed to be spent outside of branch with bus development, bank at work, but most of the time, your staff is spread too thin covering other branches. Calling clinics 2 nights per week for 2 hrs leaves you stranded for staffing. Why make 200 calls per week to get customers into your branch when you can't service them when you come in. This is one case where Bank of America has the branch model correct.

    Advice to Management

    Don't re-invent the wheel. There are already banks out there getting it right and growing based on your blunders. Take some best practices from them. Dopes!


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

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