Scotiabank

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Scotiabank Reviews

Updated August 15, 2014
Updated August 15, 2014
496 Reviews

3.5
496 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Scotiabank President and CEO Brian J. Porter
Brian J. Porter
59 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.  

    Great opportunity for customer service experience.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Customer Services Representative  in  Saint Marys, ON (Canada)
    Current Employee - Customer Services Representative in Saint Marys, ON (Canada)

    Pros

    There seems to be a lot of room for professional growth.

    Cons

    the incentives to sell products was not enough to inspire sales.

    Advice to ManagementAdvice

    better incentives, rewards could be more straight forward to get better sales per employee.

    Recommends
    Positive Outlook
    Approves of CEO
  2. 1 person found this helpful  

    great people but poor compensation

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

    Pros

    people are generally friendly and supportive, and it is growing significanlty in Latin America.

    Cons

    Poor compensation and benefits; management puts harsh rules on minimum required time for each role

    Advice to ManagementAdvice

    It is hard to find a people manager who has a genuine interest in employee's career development. Harsh rule of minimum required time at each role has been imposed by senior management on their lower level employees and this rule impedes talent development and negatively affects employees' morale. Therefore, it is imperative for Scotiabank to assess the style of people manager and make them role model for their employees.

    Recommends
    Positive Outlook
    No opinion of CEO
  3.  

    Forget Micro Management - Nano Management Mastered

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

    Pros

    Great place for advancement if you are focused on becoming a branch manager.

    Cons

    Robotic environment that is severely over micromanaged and at the mercy of eastern Canada. Regular issues with approving credit when dealing with eastern adjudicators as they do not understand the western economic boom. Work life balance for level 5 and above officers is non-existent. Level 7 officers and above are expected to work overtime daily without pay as stated in their HR Policies Handbook. Great place to get a start but jump ship once on your resume. Great for recent grads.

    Advice to ManagementAdvice

    Empower your staff and trust in their abilities. Micro Management is the least effective way to increase results. Way too many meetings with the "today show", bi-weekly Individual Touchbases and bi-weekly observational coaching. Stop talking about client service and let your officers get out there to do it. If you want more meetings with clients stop having meetings to talk about getting more meetings with clients. Spend some money on small business systems... 39 systems that don't talk...it's 2014. Personal banking is nothing like small business... please inject business leadership that has relevant business experience.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
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  5.  

    Senior Business Analyst

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

    Pros

    Stable job with high retention rate.

    Cons

    Lack leadership and innovation in general

  6.  

    Do not plant roots in this company

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

    Pros

    Great skipping stone positions in careers
    Company has solid reputation from the outside
    Job Security

    Cons

    Office politics
    Below average pay... Can not stress this enough the pay in most positions in retail banking is below 20 dollers/hour if you are a sales rep, 13 if you are in customer service
    Workload expected way to much of you
    Ridiculous goals/expectations..which includes your friends and family members. When you get hired here expect your whole network to open bank accounts a Scotia
    Stressful work environment

    Advice to ManagementAdvice

    Pay more attention to employee satisfaction. Higher employee satisfaction = higher productivity

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

    Scotiabank - National Collection Center

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Customer Relations Officer  in  Ottawa, ON (Canada)
    Current Employee - Customer Relations Officer in Ottawa, ON (Canada)

    Pros

    - benefits
    - strong leadership
    - encouraging internal promotions
    - friendly and knowledgable coworkers
    - weekly team meetings which encourages a team-oriented work environment

    Cons

    - difficult to book specific days off due to scheduling system
    - like any major company, there is corporate responsibilities as far as hiring
    - stressful work environment

    Advice to ManagementAdvice

    provide stress management training and support to employees to avoid burn out and dissatisfaction with job

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
  8.  

    Old people bank

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

    Pros

    Whatever free you could get as a banker, that's it...

    Cons

    Too much of politics and change management issues. Incompetent people at senior management level.

    Advice to ManagementAdvice

    Senior management of few business lines has some serious Change Management Issues. Keeps the old hat on.

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

    nice employees, opportunity for advancement

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

    Pros

    nice employees
    opportunity for advancement
    large Canadian bank
    international locations may be an asset for those who would like to work and travel
    lots of variety of positions
    some positions at locations across Canada

    Cons

    seems like possible lower wage compared to some other banks

    Recommends
    Positive Outlook
    Approves of CEO
  10.  

    Sr.Advisor

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Personal Banking Officer  in  Waterloo, ON (Canada)
    Current Employee - Senior Personal Banking Officer in Waterloo, ON (Canada)

    Pros

    Under the right manager, can be a great place to work. Good benefits and decent opportunity for climbing the corporate ladder.

    Cons

    Low wage and low bonus, work expectations vs compensation are not in line at all. Computer systems are dated and tend to be slow. Office and upper politics seem to decide who gets hired for what position but that could be said about any work place.

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
  11.  

    Decent Employer

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    Depending on the branch and management, could be a great experience with a lot of opportunities for career development.

    Cons

    Compensation and benefits packages could be more competitive.

    Advice to ManagementAdvice

    Work on improving overall benefits packages.

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