Scotiabank Reviews

Updated September 1, 2015
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Scotiabank President and CEO Brian J. Porter
Brian J. Porter
13 Ratings

Pros
  • work/life balance is exceptional (in 80 reviews)

  • weekly team meetings which encourages a team-oriented work environment (in 30 reviews)

Cons
  • Was recruited with a promise of improved work life balance - this hasn't materialized (in 6 reviews)

  • Actions and Words of Senior Management hardly match (in 9 reviews)

More Pros and Cons

88 Employee Reviews

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  1. Helpful (2)

    Unjust Termination Practices

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Contractor - Analyst in New York, NY
    Former Contractor - Analyst in New York, NY
    Doesn't Recommend
    Neutral Outlook

    I worked at Scotiabank as a contractor (Less than a year)

    Pros

    In general there is good morale among employees

    Cons

    Misguided and under-informed management when dealing with general practices of regulatory issues.

    Advice to Management

    Consider all manners of employment contracts and give grounded and proven reasons before termination


  2. Helpful (1)

    I've worked 3 years at Scotiabank

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at Scotiabank full-time (More than 3 years)

    Pros

    Good work life balance. Great clients to work with. Excellent peers and internal staff to work with. Really just enjoyable day in and day out.

    Cons

    Downsizing in the US. Company has no interest in the US and is fading away fast. Last two years have been spent worrying about when the company is pulling out of the US.

    Advice to Management

    It's time to stop repeating the bank is Canadian's most International Bank. Besides Canada and Mexico the bank is sporadically located.


  3. Helpful (1)

    Associate Director - Corporate Banking

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

    I worked at Scotiabank full-time

    Pros

    Work - Life balance and great colleagues.

    Cons

    Limited resources in the U.S.


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  5. One big pro, several cons, look elsewhere

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in New York, NY
    Former Employee - Anonymous Employee in New York, NY
    Doesn't Recommend
    Positive Outlook

    I worked at Scotiabank full-time (More than a year)

    Pros

    - The work life balance is unreal -Relaxed environment

    Cons

    -Pay is definitely not competitive with the market, raises are joke -You notice people do not get promoted, lateral moves are very rare and management sometimes prevents these moves -Technology is horrible, systems are antiquated -Sometimes too relaxed an environment -Lack of cross training -Lots of office politics -Functions and departments keep getting move back to Canada


  6. Avoid if you can

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY
    Doesn't Recommend
    Disapproves of CEO

    Pros

    - Work life balance - Low stress - Capital markets are the only area in the bank that's being invested in, however the business is stifled (see cons)

    Cons

    - Pay below market - Outdated managerial practices - Conservative approach to doing business - Uncompetitive vs. US banks - US Corporate bank in decline - Low employee morale

    Advice to Management

    Comp fairly.


  7. Helpful (3)

    Top tier Canadian Bank - bottom tier US/Global bank

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Associate Director in New York, NY
    Current Employee - Associate Director in New York, NY
    Doesn't Recommend
    Disapproves of CEO

    Pros

    great work life balance (no weekends, very rarely late nights) good place to learn efficiency/cost reductions recently purchased a commodity trading team from UBS, rates trading unit too - took advantage of US bank environment over past year to snatch up competitors

    Cons

    inverted pyramid - a lot of chiefs running around, very few junior staff to develop and support poor technology (since its a Canadian bank, its IT is similar to US co's 10+ years ago) very small platform in US, so hard to cross sell and generate corporate interest lack of investment on corporate banking side - 4 years ago 46% investment grade, now 80+% investment grade clients; lots of layoffs in NYC, San Fran, Chicago, and more to come!? Very few resources compared to competitors - embarrassing on pitches to see co's reaction to lack of analysis compared to other large firms

    Advice to Management

    invest in technology, junior staff, and infrastructure in US...plus pay in line with US banks in the US


  8. QA Analyst

    • Career Opportunities
    • Comp & Benefits
    Former Employee - Quality Assurance Analyst in Toronto, ON (Canada)
    Former Employee - Quality Assurance Analyst in Toronto, ON (Canada)
    Neutral Outlook
    No opinion of CEO

    Pros

    The testing of software was done manually. No tools were used

    Cons

    Did not renew my contract even though lot of work was scheduled

    Advice to Management

    Provide feedback about job prospects


  9. Salary

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    Its a good clean jobn

    Cons

    Only part time available for bank tellers, very low pay, not worth it.


  10. Not what you would expect

    Current Employee - Anonymous Employee in Toronto, ON (Canada)
    Current Employee - Anonymous Employee in Toronto, ON (Canada)

    I have been working at Scotiabank full-time

    Pros

    Free banking, coworkers, learn about financial products

    Cons

    Low pay, abusive customers, unreasonable amount of work for little pay


  11. Customer Representative

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Customer Representative/Teller
    Current Employee - Customer Representative/Teller
    Doesn't Recommend
    Negative Outlook

    I have been working at Scotiabank part-time (More than 3 years)

    Pros

    daytime hours, closed on important holidays

    Cons

    Poor management style, high stress, low pay

    Advice to Management

    Make it fun. If your staff are interested in doing a good job, make it easy for them by making it fun!



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