There are newer employer reviews for TD Bank

Amazing and well-enriched experience

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Current Employee - External Recruitment Officer in Toronto, ON (Canada)
Current Employee - External Recruitment Officer in Toronto, ON (Canada)

I have been working at TD Bank full-time (less than a year)

Pros

Great corporate environment. They always want you to grow in the position. I loved it. Started as a teller and got to become a recruiter.

Cons

It is a big company and you need to follow a lot of procedures. Producing results take a while.

Advice to ManagementAdvice

Management does a great job. I think they could work more on creating unique cultures in each department.

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

    Employees are great but the policies, procedures, fees, and job expectations are atrocious.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Teller I
    Current Employee - Teller I

    I have been working at TD Bank part-time (less than a year)

    Pros

    It all depends on your branch/department, but most of the people I work with are fantastic. Most of the customers are decent people, but you always encounter the few that are just downright mean. The PTO for full-time people is pretty competitive and they are very good about working around scheduling issues (school, family, etc).

    Cons

    First, the fees. TD Bank is always looking for new ways to charge people for USING THEIR PERSONAL MONEY. The fees are absolutely absurd and ridiculous, and (rightfully so) the customers complain a lot about it. Store management, and the rest of the store, get paid more in bonuses if they don't refund fees. $8 for a cashier's check (official check), $5 for a money order, $35 for over-drafting $5.00 or more in one day, 8% for non-customers to use their coin-counting machine, and $4 per month for their most basic checking account (TD Simple), just to name a few.

    The part-time PTO is terrible. The pay isn't great at all...I was told by HR that I'd be starting (Teller I) at $13.00 per hour, but they only started me at $11.50.

    The expectation of a Teller is to primarily sell products. They won't tell you that up-front, but you are held to a numerical goal on a daily, weekly, monthly, and yearly basis. If you don't meet your goal, you will be written up and could lose your job. You have to sell life insurance, car insurance, construction loans, personal loans, refinance packages, checking and savings accounts, business accounts, and TD Ameritrade accounts. This is absolutely ABSURD that tellers have to handle so much responsibility ON TOP OF their original duty: to process transactions.

    The SMs (store managers) are hardly in the store as their primary purpose is to get business into the store. They are overpaid for their position and take up an enormous chunk of the store's budget. They have no idea how to handle operations or run the store on a daily basis. The ASMs (assistant store managers) are charged with running the store on a daily basis, but they aren't paid enough for it and recently have begun to shy away from operations, which has had immediate impacts on the stores.

    You will have more than 3 managers at a time if you are a teller: store manager, assistant store manager, head teller, assistant head teller, and a store supervisor. Reporting to that many people is insane and extremely stressful.

    Overall, more and more expectations are being put on the tellers without any extra pay whatsoever. They are expected to know operations like the back of their hand, sell a variety of products, test the coin counter several times per day, lead store huddles on a rotating basis, and on top of all of that, process transactions.

    Advice to ManagementAdvice

    STOP putting pressure on Tellers to sell products. That should not be their responsibility. Create incentives to do so, but don't hold them to it as part of their required job description. A teller's job is to process transactions, not to be salespeople. If you want them to be salespeople, then pay them on top of that or create a new position at the store-level to do just that.

    Cut down on the management in the store. Tellers have more than 3 managers on a given day; that's ridiculous and counterproductive to store morale. If I have to report to more than 3 different people in a given day, I won't be happy.

    Stop the coaching sessions. They are too frequent and they just don't work. Focus on making employees happy, not telling them how they can do their job better.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  2. Stable environment, pathetic variable compensation

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at TD Bank full-time

    Pros

    Triple A rated bank, highly liquid, growth oriented. Conservative credit culture. Reasonably competitive benefit plans.

    Cons

    Variable compensation is non competitive for a super regional bank. No differentiation for high performers. Equity compensation is nonexistent for non executive positions. No incentive to overachieve. Prize based reward and recognition programs are patronizing. Work spaces are cramped and lack privacy, even for senior managers. No sick days... You have to use vacation days.

    Advice to ManagementAdvice

    Bridge the gap between senior managers and "market priced" executive positions. Senior manager variable compensation is just a few percentage points more than low level analysts. Variable comp for the lowest level MP positions are multiples of the highest level non-MP positions. Break the "have and have not" compensation culture.

    Recommends
    Neutral Outlook
    Approves of CEO
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