Scotiabank

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Scotiabank Reviews

Updated Jul 24, 2014
All Employees Current Employees Only

3.4 478 reviews

94% Approve of the CEO

Scotiabank President and CEO Brian J. Porter

Brian J. Porter

(53 ratings)

69% of employees recommend this company to a friend

Review Highlights

Pros
  • work life balance, position title is higher than other Canadian banks(in 66 reviews)

  • Relax work environment, great people and a stable company(in 22 reviews)


Cons
  • The pay is not competitive and there aren't full time positions on the teller line, even few part time(in 8 reviews)

  • Low salary; if you pay peanuts you get monkeys(in 8 reviews)

478 Employee Reviews
Relevance Date Rating
in
    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    Financial advisor

    Financial Advisor (Current Employee) Hamilton, ON (Canada)

    Prosgood culture. lots of opportunities. mostly good managers.

    Consthey expect you to do way too much with the client. sell everything under the sun. use web based tools, talk about life insurance, credit cards, investments, mortgages, bank accounts. Fill out the clients budget, add notes, complete compliance etc all in an hour. All that being said, you will do well if you just focus on selling. Ignore all the other stuff.

    Advice to Senior Managementfocus on what is important and get rid of all the other stuff.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    A lot of Career Opportunities

    Financial Advisor (Current Employee) Toronto, ON (Canada)

    ProsA lot of different locations

    Conssalary can be a bit more competitive

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    Worst experience of my life.

    Senior Personal Banking Officer (Former Employee) Salmon Arm, BC (Canada)

    ProsCompetitive products, ease of processing credit restructures. Difficult to express many positive facets to this company

    ConsSalary below competitive, sales quota pressure and encouraged tactics were unethical, negative working environment, dated/non-functional hardware/software/procedures/policies, expected to stay long hours and come in early, health and medical benefits were both more expensive and less comprehensive than competitor banks I have worked for. Unattainable sales goals means for diminished bonus potential.

    Advice to Senior ManagementIf you hire staff under false pretenses, they will quit. If you treat your best employees like children that need to be condescended to, they will quit. If you are reading this and considering a career in retail banking, please strongly reconsider this establishment as your starting point- You are very likely to have a tainted image of the industry.

    No, I would not recommend this company to a friend

  1. We want your feedback – Are these company reviews helpful to you?  Yes | No
    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

    3 people found this helpful  

    Lack of coordinated leadership

    Manager Business Analysis (Former Employee) Toronto, ON (Canada)

    ProsDepending on the division/team, you can manage your work hours or telecommute as needed (however, they are changing this).

    ConsLack of management support (and I was a Tech Manager myself). No desire to spend on even critical systems in spite of multiple business cases and red flags about environments being overloaded, not being used for their initial intent, or both hardware and software being past end of life and vendor support.

    Benefits plan drastically slashed in 2012/2013, making it more beneficial for a two income household to use the non-Scotia spouse's benefits for even basic things like regular dental checkups.

    Advice to Senior ManagementStop assuming people who have been there forever will keep selling the company to potential new hires. Focus on IT currency.

    No, I would not recommend this company to a friend

    Scotiabank Employer: Scotiabank responded to this review

    Jul 4, 2014

    Thank you for your feedback, it is very valuable to us. We’re happy to advise that we moved to a new benefit plan at the beginning of 2014. In addition, innovative investments in technology and ... More
    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

    1 person found this helpful  

    Not much to say If you know anyone to put you in you can get paid higher than other even can promote in no time

    Credit Risk Administration Officer (Former Employee) Toronto, ON (Canada)

    ProsAfter 5 years of employment no Pros to say there are still honest working good people but they are all minority among the corrupted ones

    ConsYou need a hook up to get a job You need a hook up to get paid more the others you need a hook up to promote if you don't have any hook up you can even get fired regardless how hard you work to open a space for a new hook up

    Advice to Senior ManagementWhen you say "Equal opportunity employer make sure mean it

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

    • Culture & Values
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    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

    1 person found this helpful  

    one of the worst banks

    Anonymous Employee (Current Employee)

    ProsSince this bank is pretty conservative, you'll have job security

    ConsManager didn't know what he was doing, employees were under paid, benefits were cut, work felt meaningless

    No, I would not recommend this company to a friend

    Scotiabank Manager, Talent Acquisition Strategies responded to this review

    Jun 2, 2014

    We really appreciate your feedback. Sorry to hear that you are not very happy in your current position. We’d like to help you address the issues you have. Could you please contact ... More
    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    Great place to start

    Retail Banking Officer (Former Employee) Toronto, ON (Canada)

    ProsThe culture of the place is very friendly so its easy to work along with team or coworkers. The corporate culture is great and its a "fun" place to work. ALot of opportunities for growth.

    ConsThe salary is not as high as competitors. The standard of customer service and training is not as high as others.

    Advice to Senior ManagementThere should be better employee support and training.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

    • Culture & Values
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    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    Scotiabank is one of the biggest financial institutions in Canada which offers a variety of opportunities.

    Associate (Current Employee) Toronto, ON (Canada)

    ProsLarge scale, wide geographical exposure, strong commodity business

    ConsDifficult to network with people in different departments given the large size of the company

    Advice to Senior ManagementProvide more leadership opportunities and networking opportunities for staff

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    Enjoyable

    Anonymous Employee (Former Employee)

    ProsDidn't need too many qualifications to get hired, excellent customer service is insisted at all times

    ConsVery mundane as a teller.

    Yes, I would recommend this company to a friend

    1 person found this helpful  

    "one team goal" ignored by some business partners

    Anonymous Employee (Current Employee)

    ProsReally fair pay
    Generally talented employees
    Company invests in long term solutions

    ConsWas recruited with a promise of improved work life balance - this hasn't materialized
    Some senior level decision makers treat employees and business partners really poorly

    Advice to Senior ManagementNeeds to be more executive/MD oversight over director level decision makers to ensure they are treating people fairly

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