There are newer employer reviews for Sovereign Bancorp

2 people found this helpful  

Getting out was the best decision I have ever made.

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Former Employee - Personal Banker in New York, NY
Former Employee - Personal Banker in New York, NY

I worked at Sovereign Bancorp full-time (more than an year)

Pros

1. Great co-workers.
2. Good vision insurance.

Cons

1. Micromanagement of all branch employees.
2. Horrible bank software
3. Horrible management
4. HR is non-existent.
5. Your daily schedule is given to you a week in advance, should you not follow said schedule you will be reprimanded by management. Example, if you are expected to "Lobby Lead" (AKA Greeter/"Find a customer to sell something to"), and instead you go assist a teller with a complex situation you will be reprimanded by management.
6. Management is never around, and when they are, they do absolutely nothing.
7. Call nights,
8. Supplemental call nights
9. Cold Calling galore!
10. 0 room for growth.
11. Understaffed branches.
12. No priority on hiring.
13. Extremely high turn-over rate.
14. Horrible back office support.
15. Low pay.
16. Low commission payouts.
17. Horrible Work/Life balance.
18. Horrible dental/medical insurance plans.
19. Unrealistic goals.
20. Daily huddles/ Coaching sessions.
21. STARR
22. Raises never ever happen.
23. Management is deaf.
24. Management, for the most part, has a horrible attitude toward their employees.
25. No customer service.
26. No Employee support.

Among other cons.

Advice to ManagementAdvice

Promote talent, stop promoting your friends.

Doesn't Recommend
Neutral Outlook
Disapproves of CEO

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

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  1. 1 person found this helpful  

    Pretty good place to work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Relationship Manager in Edison, NJ
    Former Employee - Relationship Manager in Edison, NJ

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

    Pros

    Flexible job despite sales goals, decent environment, room to grow, opportunity to move to other departments

    Cons

    Frustrating systems conversions and policies. Branch locations. Credit approval process. Salaries lag somewhat behind other bank competitors.

    Advice to ManagementAdvice

    Listen to employee feedback, need better IT systems.

    Recommends
    Positive Outlook
    Disapproves of CEO
  2.  

    Fairly decent

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Specialist in Lexington, MA
    Former Employee - Financial Specialist in Lexington, MA

    I worked at Sovereign Bancorp full-time (more than an year)

    Pros

    Pay is extremely competitive as well as bonus structure. Benefits are also very good.

    Cons

    Mandatory sales call nights, as well as aggressive sales goals for a bank that is already well established in the area. Too many phone calls about sales performance every week multiple times a week.

    Advice to ManagementAdvice

    Understand that as a bank there is only so much that can be done to gain new clients and when products aren't competitive there's even less.

    Recommends
    Neutral Outlook
    No opinion of CEO
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