169 Employee Reviews (View Most Recent)

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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

Other Reviews for Sovereign Bancorp

  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. 1 person found this helpful  

    Good international bank with limited growth

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Associate  in  Boston, MA
    Current Employee - Associate in Boston, MA

    I have been working at Sovereign Bancorp full-time for 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 ManagementAdvice

    Start valuing local talent

    Recommends
    Positive Outlook
    Approves of CEO
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