Scotiabank Reviews

Updated September 18, 2014
Updated September 18, 2014
512 Reviews
3.4
512 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Scotiabank President and CEO Brian J. Porter
Brian J. Porter
65 Ratings

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)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1.  

    Good, steady work. Heavy workload for FAs

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

    I have been working at Scotiabank for more than 3 years

    Pros

    Good benefits, and share ownership program.

    Cons

    Workload, technological infrastructure very dated, slow and frustrating.

    Advice to ManagementAdvice

    Invest in technological infrastructure to bring useful tools, and system stability to branches.

    No opinion of CEO
  2.  

    The worst career decision

    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Scotiabank full-time

    Pros

    Work life balance is ok

    Cons

    Work life balance (you pay will be significantly less than market)
    It's too laid back here
    The company does not cross train employees
    Managers do not offer promotions
    Systems are antiquated
    Information is not shared with other groups
    There will be no one to train you and at the end of the year it will be held against you (because that makes sense)
    The bank is insanely cheap
    TAG is terrible responding to requests
    Knowledge and hard work does not translate to a better salary or bonus
    If you try to move to a different role your manager will block you
    If you come here negotiate as high as you can on both salary and title

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  3.  

    Blue collar investment bank

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

    I worked at Scotiabank full-time for more than a year

    Pros

    It's steady, safe, predictable for the most part. Benefits are what you would expect. An atmosphere of humility...for the IB world, anyway. Could be a good fit for the right personalities.

    Cons

    The organization is far from nimble and far from willing to try new things. And, just as anywhere, there are internal politics and fiefdoms.

    Advice to ManagementAdvice

    Although your conservative investment strategy works well, there is no need for the operational side of the business to be equally cautious. Lots of rules and processes could be simplified and streamlined.

    Doesn't Recommend
    Approves of CEO
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  5.  

    Alright experience for entry level job seeked not recommended for professional.

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Scotiabank full-time for more than 5 years

    Pros

    Working at Scotiabank afforded me plenty of opportunities for training. Great rapport with colleagues... everyone works as a team. The salary is pretty good and we get incentives.

    Cons

    There is a very heavy workload. Lack of opportunity for promotions

  6.  

    Good work life balance

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

    I have been working at Scotiabank

    Pros

    Training content was in depth. Great people to work with. Senior and district Management genuinely wants to be a part of the learning process with staff.

    Cons

    Pay does not match up with the knowledge expected. Benefits are not great. There is a great learning plan but no time allocated to work on it. Policies are always changing it's hard to keep up to date. Knowledge required for the job is too much for one person.

    Advice to ManagementAdvice

    Allocate time within a work day for training programs. Improve pay and benefits to be competitive with industries in the area.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  7.  

    Boring workplace like a senior housing project

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Director  in  New York, NY
    Former Employee - Director in New York, NY

    I worked at Scotiabank full-time for more than 3 years

    Pros

    work life balance is often cited. This is about the only thing worth mentioning..

    Cons

    Company values: keep your job security by not working or taking initiatives.
    Office culture: do not reward people who go out of their ways to help others

    Advice to ManagementAdvice

    An example of follower-culture that takes no risks in doing anything. Better re-start!

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  8.  

    Worked with sub par people

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Director  in  New York, NY
    Former Employee - Director in New York, NY

    I worked at Scotiabank full-time for more than 3 years

    Pros

    There really are no pros

    Cons

    Low salary; if you pay peanuts you get monkeys

    Advice to ManagementAdvice

    Commit suicide

    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO
  9. 1 person found this helpful  

    Great place to work

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Scotiabank

    Pros

    I enjoyed working at scotia bank, they have a strong sense of community and family. Did not feel like work at all when i was there.

    Cons

    because it is a big company it will take some time to climb the ladder, so you have to be patient and have a clear direction as to where you want to go in the company.

  10.  

    Wonderful

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Assistant Manager Human Resources  in  Christiansted, VI
    Former Employee - Assistant Manager Human Resources in Christiansted, VI

    I worked at Scotiabank full-time for more than 10 years

    Pros

    Team Oriented, successful, integrity, Training and Development, and more.

    Cons

    Not competitive enough to help employees drive successful sales results.

    Advice to ManagementAdvice

    Be more competitive. It will help to drive great sales results. Employees will be more motivated to reach out for the business.

    Recommends
    Approves of CEO
  11.  

    Too much bureaucracy

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

    I worked at Scotiabank

    Pros

    The Scotiabank name is a synonym for security.

    Cons

    Making the systems and operations the same for several countries is not effective.

    Advice to ManagementAdvice

    Give more authority to the people in the countries they operate.

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

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