Scotiabank Reviews

Updated September 18, 2014
Updated September 18, 2014
511 Reviews
3.5
511 Reviews
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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. 1 person found this helpful  

    Scotiabank is not invested in it's people.

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

    I have been working at Scotiabank full-time for more than 3 years

    Pros

    -Good work life balance
    -Multi-cultural - lots of 'fun' events for employees to attend.
    -Nice looking Logo. The color red was a great choice.
    -Great cafeteria

    Cons

    -Lowest compensation/benefits of all the banks

    -They will not pay for your professional development (even if you're in Finance and want to pursue a CPA)

    -They do not support your personal growth. There is no formal mentorship program. There is no leadership development program. It is all lip service.

    -With the new CEO, it is not longer a 'safe' workplace anymore. There have been lots of job cuts.

    -You will not be promoted based on merit. Make sure to buy your boss lots of coffees!

    Advice to ManagementAdvice

    Invest in your people. A fancy memo to employees does not count. Actually support their professional growth...once again, lip service doesn't count.

    The mentorship program is a complete joke. Once again, a fancy memo with photoshop pictures. What does it translate to?

    "Find someone who is more senior than you, ask them for coffee and talk about your career". Once again, you can not call this a mentorship program. That's Networking 1.0. Everyone does it anyways. With or without bank support.

    Doesn't Recommend
    Negative Outlook
    Disapproves 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.  

    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
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  5.  

    Worst experience of my life.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Personal Banking Officer  in  Salmon Arm, BC (Canada)
    Former Employee - Senior Personal Banking Officer in Salmon Arm, BC (Canada)

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

    Pros

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

    Cons

    Salary 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 ManagementAdvice

    If 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.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  6.  

    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
  7. 2 people 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

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Credit Risk Administration Officer  in  Toronto, ON (Canada)
    Former Employee - Credit Risk Administration Officer in Toronto, ON (Canada)

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

    Pros

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

    Cons

    You 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 ManagementAdvice

    When you say "Equal opportunity employer make sure mean it

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  8. 1 person found this helpful  

    Vindictive and Incompetent Senior IT Management

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

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

    Pros

    Big Brand Name, reasonable benefits

    Cons

    A number senior level Managers, Directors, and VPs are highly incompetent, they operate without adequate accountability and hide behind sustained chaos. As a result the poor performing staff continue to flourish and get promoted. Actions and Words of Senior Management hardly match. One of the worst places one could work for unless you enjoy looking busy, fire fighting to be the theme of the day - day after day and you don't mind 'boot licking' to get ahead.

    Advice to ManagementAdvice

    Senior Execs from Business should look for value and not cost of IT

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  9.  

    Senior Manager

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

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

    Pros

    Working at Scotiabank dose not have any pros.

    Cons

    Lack opportunity for growth, low salary compare to others

    Doesn't Recommend
    Neutral Outlook
  10. 2 people found this helpful  

    Hierarchy Prevails

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

    I have been working at Scotiabank full-time for more than 8 years

    Pros

    If you learn to ask "How high?", when management says jump, your job should remain secure.

    Cons

    Strong emphasis on hierarchy. Highly political and bureaucratic environment. Management isn't held accountable and job satisfaction for non management is irrelevant. The hiring process is prejudice and favours women. Career advancement opportunities for males who don't already hold senior positions is limited. There isn't an effective process for conflict resolution in place. Favouritism, Cronyism, Nepotism and sexism towards men is highly rampant under Human Resources.

    Advice to ManagementAdvice

    Hold management accountable. Stop promoting people who aren't good at their jobs. Stop promoting people, non Management do not like. Make Management accountable for employee satisfaction. Seek the opinion(s) of non Management and improve conflict resolution. Fix your hiring practices and stop the discrimination.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  11. 4 people found this helpful  

    A great place to work; for sociopaths and sycophants.

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

    I worked at Scotiabank full-time

    Pros

    No pros come to mind.

    Cons

    Pitiful benefits. Antiquated technology. Management`s behaviour completely inappropriate and unprofessional. Blatant favourtism for the chosen few. Demeaning, scapegoat tactics for individuals who refuse to conform to the drone mentality.

    Advice to ManagementAdvice

    Grow up.

    Doesn't Recommend
    No opinion of CEO

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