Scotiabank Reviews

Pros

Scotia IT job is good if you're looking for the following:
-A place for a work/life balance.
-Not much OT required like some other banks. It pays for any OT you did or you can get lieu days.
-Stable job with decent benefits
-Very good for new graduate especially from intern program. Promotion is pretty quick in certain area comparing to established IT working professionals.

Cons

-No focus on innovation and motivation.
-Very lengthy communication channel for a small thing/Very inefficient in cross department communication
-Project is moving very slowly in certain IT department.
-IT Managers are more like resource managers - they don't understand technology

Advice to Senior Management

- Focus on bringing innovation and creativity to the product rather than just focus on meetings.
- Listen to the suggestions from people with experience from outside rather than sticking to the old ways
-Spend some time to provide career coaching or opportunity to the employees who are willing to grow.

Pros

Free bank accounts (max. 5), stock options, health coverage, paid vacation even for part-time employees. Scotia Applause Program provides a point structure for purchasing items as rewards.

Cons

Does not have a clear advancement path in place for individuals in the customer service role. Individuals are encouraged to stay where they are rather than advance by their immediate management. This goes against the HR department's stated goal.

Advice to Senior Management

Use your branches more effectively as a source for talent in other departments. You have very experienced individuals with high levels of education who are looking to advance at Scotiabank. Their direct managers don't show enough interest in their development. This is a wasted resource.

Pros

Opportunity to train and observe the financial field, also great social culture

Cons

Pay not very competitive in industry

Advice to Senior Management

Don't be too ambitious with the company targets without increasing the compensation to employees in an equal manner. This could frustrate the staff because the targets keep growing while the compensation remains the same. More work for the same pay. Keep up the social activities; great way to network within the organization.

Pros

- Very concrete project management process
- Established management chain
- Well established performance review process, tied to bonus payout
- Lots of opportunity for advancement, promotion
- Great people!

Cons

- Old outdated tech used in some projects
- Compensation can be low compared to non-banking sector
- Red tape on getting new ideas approved can be hard to cut

Advice to Senior Management

Keep up the great work, higher salaries would be nice! All in all, you've got a great place to work!

Pros

-Work life balance
-Compensation for interns are very good
-Assigned to projects that will go into production

Cons

-downtime due to testing can make some days very boring

Pros

Unlimited growth opportunity. Strong international presence. Established and stable institution. Competitive benefits package.

Cons

Less competitive salary compared to market.

Advice to Senior Management

Keep strong global strategy but enhance customer focus in Domestic Banking.

Pros

Many opportunities for growth and development, horizontal and vertical movements, great atmosphere and culture particularly the IB division

Cons

Sometimes can be long working hours, stresses on the job particularly during tougher economic periods and office politics sometimes can impede personal growth

Pros

Work life balance given if you are willing to push for it
Open door policy
Very multicultural

Cons

Alot of people here 20-30 years stuck in the same position and are bitter about it.
IT systems are very poor.
More work gets piled on with the same level of staff
Office space on my floor was poor.
Moral is poor.
Salary and benefits are a common complaint. Increases each year don't cover inflation!
I got no training and no guidance.

Advice to Senior Management

Develop your finance departments.
Develop career programs

Pros

Open doors policy, people is very approachable, able to express some ideas, very good work-life balance. So far (for me), the best to work.

Cons

Management is always looking for the next star, but most of the time, they look on the wrong place, and people who deserve to be moved to the next level, has to wait too long for it.

Advice to Senior Management

Check closer, if you talk beautifuly does not means that person knows, might be one behind.

Pros

Global opportunities with location all across the Caribbean and Latin America
Canada has a stable economy and the bank is also very stable

Cons

Better training
Increase salary
Lines between management and employees should be shorter

Advice to Senior Management

Management is good but should put more effort into training and meeting with new employees