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Investment banking with a Southern twist

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Career Opportunities
Former Employee - Investment Banking Analyst  in  Atlanta, GA
Former Employee - Investment Banking Analyst in Atlanta, GA

I worked at SunTrust

Pros

Corporate & Investment Banking was a good training for careers in the future. Analysts training program consisted of 6 weeks class room courses in accounting, corporate finance and financial modeling. Access to Senior bankers is very good. Job responsibility and engaging assignments.

Cons

Investment Banking did not pay the usual high salary even though you have to deal with the same stuff. A lot of managing directors who did not pull their weight. Definitely still a good old boys club. Bonus for analyst class of 2006-2007 was only 30% of base ($60k).

Advice to ManagementAdvice

Take more prudent risks

Doesn't Recommend
Disapproves of CEO

799 Other Employee Reviews for SunTrust (View Most Recent)

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  1.  

    SunTrust is risk adverse but will graciously reward its top performers

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Investment Banking Associate  in  Atlanta, GA
    Former Employee - Investment Banking Associate in Atlanta, GA

    I worked at SunTrust

    Pros

    Employees are well compensated for their ability to increase the client base and revenue. The company has generous policies to pay for additional eduction and certifications. The company believes in work-life balance and supports you to take time off when needed.

    Cons

    CIB is a very competitive environment and you either sink or swim. There is not much room to coast in the middle. The company is also very risk averse and are not always willing to make the decisions is takes to be competitive in the capital markets space.

    Advice to ManagementAdvice

    I would advise management to be willing to take on more risk for higher reward. Be willing to stick out the turns in the market and not exit businesses as soon as the market turns. We all know that markets are cyclical and the housing crisis will turn around. The companies that are willing to invest through the down turns will reap the highest reward.

    Recommends
    Approves of CEO
  2. 2 people found this helpful  

    Not the place to be if you're looking to be on the fast-track

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Financial Services Representative  in  Williamsburg, VA
    Former Employee - Financial Services Representative in Williamsburg, VA

    I worked at SunTrust

    Pros

    Suntrust has a sizeable footprint if you're looking to work in the Southeast. Also, with luck and the right work ethic, it is possible to earn decent money working as a branch rep. The company does have a pension plan, which is rare these days, although it takes 5 years to be fully vested in it.

    Cons

    From my experience, most if not all regions suffer from extreme micro-management. It's so bad that someone as high-up as a regional LOB manager often sees the need to come in and directly observe tellers and other branch staff. Also, there is NO flexibility in how your job should be done. SunTrust has a "branch operating model", and this must be followed to the T, regerdless of its many flaws. The model essentially makes all jobs "stupid-proof", and hence they are able to bring in unskilled, uneducated employees at low salaries. Because of this, people with retail sales experience are far more valuable to them than anyone with a finance background. To ensure compliance with the model, management requires all employees to complete several layers of redundant reporting.

    For an example, all employees, even tellers, must complete a "daily contact sheet". This form has spots for every person one encounters on the phone, in person, or otherwise. It also has spots for sales oportunities uncovered, products sold, and follow-up opportunities. The employees must fill this sheet out and give it to the branch manager. The manager then takes these sheets, goes over it with the employee, and transfers the information to another sheet. The area manager then reviews these sheets with the branch managers, and so on. This kind of ridiculous reporting makes it difficult for anoyone to actually get any value-adding work done.

    Advice to ManagementAdvice

    Let successful employees continue to be successful on their own terms.

    Doesn't Recommend
    No opinion of CEO
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