SunTrust

  www.suntrust.com
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4 people found this helpful  

Always in a state of "transformation"

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

Pros

Work from home 3 days per week. Slightly better than average salary. Great coworkers. 6% 401k match - paid semi-monthly (vesting was immediate, now it is 2 years - not too bad). 4 weeks vacation for professional grades. $5,000 annual tuition reimbursement (accredited universities only).

Cons

Every three years SunTrust goes through a "transformation." These transformations lead to uncertainty about working conditions and job prospects. Rarely does it turn in to an opportunity regardless of how aggressive you are. During these transformations top talent jump ship for stable, more interesting / challenging opportunities. Reductions In Force (RIF) occur 3 to 4 times per year.

Advice to ManagementAdvice

Give the transformations a rest - they are disruptive and take you back 3 steps for every one step forward. Focus on culture and your employees. A purpose driven company values individuals and builds relationships with people (and starts internally). RIFs promote uncertainty and fear. Stop cutting benefits. Eliminating the pension and HMO insurance should be enough to save you plenty of money.

Recommends
Positive Outlook
Approves of CEO

Other reviews for SunTrust

  1. 4 people found this helpful  

    Good place to work, but the future is doubtful

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Business Project Manager  in  Atlanta, GA
    Current Employee - Business Project Manager in Atlanta, GA

    Pros

    People are very friendly and great to work with, however, building relationships with people is a MUST toward getting anything done. Telecomuting is allowed for salaried positions but not managers, number of days vary. Managers must be notified first if applying for other positions in the bank, but most are supportive. They are actively working toward making some necessary cultural shifts. Managers rarely provide monetary rewards, but are good about giving comp time, extra vacation days, and extra work from home days. This is a heavy process laden company, but they see value in six sigma principles and are trying to streamline.

    Cons

    Due to both workload and environment, people are not held accountable for their work. This makes it difficult to get things done. I've been on the job 4 years and have only received $3,000 in added compensation - negotiate a good salary up front. Annual review process is highly subjective and makes it difficult to achieve more than an average rating. Very focused on cost cutting measures - no coffee, individually monitor print jobs and supplies. Staffing is now below bare bone minimum due to 3 layoffs in the latter part of 2012. Infrastructure and Application teams werea aligned to lines of business in an effort to reduce silos, but changes have been very poorly communicated and there is little understanding how roles will be fulfilled in the new structure.

    Advice to ManagementAdvice

    The bank would benefit from a 360 review process that includes feedback for managers. The current rating system does not work. Employees should be offered more opportunity for added compensation and bonuses, if this is economically not possible then the bank needs to consider adding other perks like paying for parking for downtown locations, etc. Organizational decisions should not be made public until both process and people changes have been defined. This has caused a loss of confidence in management and the future of the bank.

    Positive Outlook
    Approves of CEO
  2. 1 person found this helpful  

    It's WHO you know and NOT what you know!!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Assistant Branch Manager  in  Atlanta, GA
    Former Employee - Assistant Branch Manager in Atlanta, GA

    Pros

    Decent place to work if you are strong seller. Very much sales driven, efforts don't count. If you have a good manager you have opportunity to learn a lot of different skills if they allow you to. A lot of training but unfortunately operations has a lot of variance from branch to branch and many branches make exceptions for clients without informing them. This leads to misperception on client's part that other branch is singling them out.

    Cons

    No one shares things that are available to you for your professional growth. Company allows $5000 per year per employee for their professional training and career development if they want to do something different but I learned this after being with the company for more than 6 yrs as I made the decision to leave the company.

    A lot clicks within the organization. You have to know someone to pull in a favor for you to get a position even if you are not the best candidate. Qualified candidates are overlooked because management does not want to let a strong seller out of their area and this limits the person's growth and eventually they leave (as I did).

    Advice to ManagementAdvice

    Have a consistent message and keep everyone informed. If you expect that teammates should have a best friend at work then don't penalize them because that best friend is in the same branch as them or is someone about the regional manager and holds a strong authority.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
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