Scotiabank Reviews

Updated July 2, 2015
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3.6
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Scotiabank President and CEO Brian J. Porter
Brian J. Porter
120 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

645 Employee Reviews

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  1. Helpful (1)

    Small Business Advisor

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Account Manager, Small Business in Hamilton, ON (Canada)
    Former Employee - Account Manager, Small Business in Hamilton, ON (Canada)

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

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    It is very hard to get fired as long as you show up for work everyday on time. The expectations of you are very minimal because it is a really menial job despite the job level or description

    Cons

    Where to begin
    - Micromanaged
    - several reports to track every measurable aspect of your job
    - extremely poor raises - you could do 250% of your target and get 3% at the end of the year
    - very poor structure - tenure is the most important factor when looking to be promoted

    Advice to Management

    I have no advice to management because this is a company which operates like a retail store, it has no more prestige than a Wal-Mart or Sears, it is people who dress nicely to a job where they need no education just straight sales techniques and customer service.


  2. Helpful (1)

    better leave sooner than later

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

    I worked at Scotiabank

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    Pros

    a decent pay and good for students who need working experience

    Cons

    no future and no real respect from management

    Advice to Management

    work harder to be more like real management


  3. Helpful (1)

    Business service centre MTL

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Customer Service Representative in Montreal, QC (Canada)
    Former Employee - Customer Service Representative in Montreal, QC (Canada)

    I worked at Scotiabank full-time

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

    Pros

    Scotiabank is a very good institution

    Cons

    North Korea is a better to place to work compared to bsc mtl in certain dept. bad working environment. Labour turnover is high. Office politics is ruining this dept. two managers are controlling senior ones. Too much rumors and gossips. A lot of employee dissatisfaction but some are not voicing out or fear to voice out the truth like in a communist environment. Communication is only one sided when views are expressed you can be blacklisted easily by one manager and another assistant manager. If you want to succeed and you have to be one of the manager's boot-lickers. regardless of your performance you will be promoted and soar like an eagle wings. job posting, interviews are only procedures to fill out planned & protected employee it is the culture over there. There is only one community is being recruited also and no diversity.

    Advice to Management

    It is time for you in Toronto to see the manipulation and the ruling of that communist group operating in that dept. Identify reason why the high labour turnover, who is being promoted at the speed of light. EDP, MOS, Job posting are easily being manipulated in the process of managing people. Eliminate office politics. the one referring new employees is the one having ultimate control on them, part of their strategy.


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  5. Helpful (2)

    Senior Manager

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

    I have been working at Scotiabank full-time (More than 8 years)

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

    Pros

    Decent hours; potential for good year-end bonus; potential to apply to jobs in Latin America; Spanish classes offered on-site; multi-cultural staff; degree not necessarily required.

    Cons

    Bully bosses, antiquated systems, poor benefits, very little focus on training or individual career development, poor communication (ie town halls), underdeveloped HR policies.

    Advice to Management

    A bully will always be a bully. They cannot be re-trained. Require all senior management to undergo "EQ" testing, and do not promote people with low EQs.

    Scotiabank Response

    May 15, 2015Employer: Scotiabank

    We're thrilled to hear that you are enjoying the multicultural environment of our workplace; we pride ourselves in being Canada’s most international bank. That being said, we are concerned about some ... More


  6. Helpful (1)

    Financial Advisor

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

    I worked at Scotiabank full-time

    Doesn't Recommend
    Negative Outlook
    Doesn't Recommend
    Negative Outlook

    Pros

    Nice people to work with in the branch

    Cons

    Huge sales pressures, whether you were performing well or not it was never enough. Too much push towards forcing products onto people


  7. Helpful (1)

    Manager's are allowed to bully staff, without any fear of interference from HR.

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Scotiabank

    Pros

    - Clients are wonderful!
    - Free bank account and Premium credit cards.

    Cons

    - ZERO work/life balance.
    - EXTREME favoritism.
    - Complete lack of respect for staff privacy rights.
    - Manager's allowed to swear at and abuse staff without any fear of reprisal.
    - Immigrant staff face bullying to such a degree that it is affecting health and family relationships. If a first generation Canadian makes an honest error, s/he is belittled, reprimanded and written up; in front of staff & customers alike. Any other staff make identical error on same date, it is never noticed.

    Advice to Management

    - Stop bullying, belittling, threatening, and demeaning employees that are more knowledgeable than you.
    - Respect Client AND Staff privacy.
    - Act on customer complaints about breaches of privacy. Lives are being irreparably damaged because you refuse to address issues with your drinking partners.

    Scotiabank Response

    Apr 1, 2015Employer: Scotiabank

    We’re very concerned about the experience you are describing in your review. We’d strongly encourage you to check out the Pathways to Resolution on HR Passport that shows you how to raise your ... More


  8. Helpful (4)

    Paranoid employees

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Customer Service Representative (Scotiabank) in Toronto, ON (Canada)
    Former Employee - Customer Service Representative (Scotiabank) in Toronto, ON (Canada)

    I worked at Scotiabank

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    Pros

    As a recent graduate in finance with no experience, working at the Scotiabank branch helped me build my resume. Also, working at the head office branch in Toronto was a great opportunity to meet executives from various departments of the bank and companies located near Bay and King.

    Cons

    Working at the branch was an environment of hostility and paranoia. There was no trust between supervisors and employees, and employees were constantly afraid of getting "in trouble".

    Advice to Management

    There needs to be real training- both at the Scotiabank branch and at ScotiaMcLeod. In my experience with both companies I had no real training, and there was no accountability to anyone to ensure I had been taught anything properly. The idea was new employees would sink or swim. This is not beneficial to the organization- I utilized my resources and learned things on my own- but many employees did not. I watched employees on a daily basis give bad customer service, and even turn opportunities away due to a lack of knowledge.

    Scotiabank Response

    Feb 26, 2015Employer: Scotiabank

    We appreciate your review and are sorry to hear your experience with Scotiabank was unsatisfactory. We’d like you to know that Employees are Scotiabank’s most valuable asset and the Bank is dedicated ... More


  9. Helpful (5)

    Outdated Technology, Demeaning managers, low salary based upon industry average, micro managed and no training

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Project Leader in Scarborough, ON (Canada)
    Current Employee - Senior Project Leader in Scarborough, ON (Canada)

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

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    there are average banking benefits

    Cons

    using timesheet system from 1980
    lots of outdated technology
    horrible choice of vendors
    no paid training
    old school management that micromanages you
    very low training based upon industry average and amount of work required of you
    no work/life balance and work from home policy
    workload unmanageable most people stay till 7:30 pm or go home and continue work in order to complete all duties
    people aren't very social
    benefits package not very good

    Advice to Management

    revise roles and responsibilities
    hire younger people and management
    change rule about not being able to leave job until you work for 3 years in the same position
    higher pay!
    please use updated tools and technology, using mainframe to do timesheet is just sad
    have a paid training program
    better head office location would help, old factory is just sad and theres nothing to do around there

    Scotiabank Response

    Feb 11, 2015Social Media Manager

    We respect your point of view and appreciate your detailed feedback. We’d like to direct you to our Ideas In Action website available via HR Passport. The site is designed specifically with employees ... More


  10. Helpful (4)

    Stepping Stone

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Scotiabank

    Pros

    Willing to give you a chance to work there with limited job experience

    Cons

    Compensation is on the low end compared to other banks. Training program was horrible. Gave me a bunch of CDs to memorize then rushed through all the work functions in a matter of days.


  11. Helpful (1)

    Old fashioned management, conservative, horrible working environment

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Relationship Manager in Mexico City (Mexico)
    Former Employee - Senior Relationship Manager in Mexico City (Mexico)

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

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

    Pros

    Scotiabank is a mediocre bank, so therefore workload is easily manageable and thus life/work balance is OK.

    Cons

    My experience is from directly in Global Transaction Banking. Old fashioned management in which bosses have the ultimate word not open to discussion. Working environment is terrible, people is not given the chance to grow or to even speak up their mind or ideas, so everybody is frustrated. There were people in their mid 40s with the same position as me, making less money. they've been in the same position for years. There are also limited growth opportunities. Salaries are way below industry average and perks and benefits are poor. When I gave notice I was insulted by my direct manager. If you are a well prepared, driven professional you should absolutely avoid this bank.



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