There are newer employer reviews for Sovereign Bancorp

1 person found this helpful  

Micro manage with low commission

Current Employee - Anonymous Employee
Current Employee - Anonymous Employee

I have been working at Sovereign Bancorp

Pros

Nice people... and opportunity to learn

Cons

Micro manage
Too many calls...cold calling

167 Other Employee Reviews for Sovereign Bancorp (View Most Recent)

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  1. 1 person found this helpful  

    Spanish Management needs to learn the US market and to trust US employees

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Vice President  in  New York, NY
    Current Employee - Vice President in New York, NY

    I have been working at Sovereign Bancorp full-time for more than a year

    Pros

    Former Sovereign employees are friendly and are looking to get deals done. Good work/life balance with significant paid time off and the option to buy-back additional days. Good 401K plan.

    Cons

    Administrative tasks and process quickly overwhelm, which prevents the quick decisions that are needed in the market. Commercial credit decisions must be made multiple layers of committees. Very limited authority in the US, which adds a Madrid-based approval layer and slows down the process. US employees have significant experience and knowledge that is seemingly not respected by Senior Management; most of the middle management layers are composed of inexperienced Spaniards that are afraid to step out of the box because they are out of their depth. Many committees are conducted in Spanish, which wastes time for non-Spanish speaking people (who have to attend in case there's a question). Cramped working conditions that limit one's ability to concentrate/think.

    Advice to ManagementAdvice

    There is a culture clash here, and competent, smart people are looking for jobs with your competition.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2. 2 people found this helpful  

    Not a good experience

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

    I worked at Sovereign Bancorp full-time for 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 ManagementAdvice

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

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
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