Scotiabank Reviews in Toronto, ON

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

230 Employee Reviews Back to all reviews

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  1.  

    Toronto Head Office Finance

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

    I worked at Scotiabank full-time for more than 5 years

    Pros

    Gain experience, have rotational program to train you, great people that willing to teach and promote you. Will assist your career path. Helped my sister and brother in law to get a job. I attained my MBA with this company, my CMA designation, My house, and baby.

    Cons

    20% lower than market salary but will not fire ppl. Allow ppl to look for job even after sold of the department for a duration of 2 years. Treat mother differently, will not give so much challenge to you once you are a mother.

    Advice to ManagementAdvice

    Should have a annual career plan for staff, even after staff turn to a mother.

    Recommends
    Positive Outlook
  2.  

    Great place to intern, everyone was willing

    Current Employee - Financial Analyst  in  Toronto, ON (Canada)
    Current Employee - Financial Analyst in Toronto, ON (Canada)

    I have been working at Scotiabank as an intern for less than a year

    Pros

    There were pre-defined goals set in place by my manager at the beginning of my term. I was kept very busy, often staying late to complete the work. When I ask questions, which was often, everyone was willing to take the time and make sure that I understood the crux of the answer.

    Everyone in the group was willing to be personable to me and that's all you can ask for.

    Cons

    I was given lots of work, and while not overwhelming, I often worked late to the point that I was reminded that I could go home.

    Advice to ManagementAdvice

    Make sure to keep this program around for others! I learned lots of skills and gained a better understanding of how the business operates.

  3.  

    Overall satisfactory

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

    I have been working at Scotiabank full-time for more than a year

    Pros

    In general, people are treating each other with respect. Same as other big institutions, there can be a lot of internal job opportunities - depending on individual's experience, skills and educational level. Many employees have faith in the bank's international footprint.

    Cons

    Pay is below average, in particular at non-managerial levels. There has been increasingly more push for sales in various departments, even roles that are traditionally not sales oriented.

    Recommends
    Neutral Outlook
    No opinion of CEO
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  5. 1 person found this helpful  

    Scotiabank International

    • 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 for more than 3 years

    Pros

    Good work life balance. Good flexibility in terms of work. Relatively stable in terms of maintaining your job

    Cons

    Not clear direction, definition of strategy. Salary and benefits are below their main competitors.

    Advice to ManagementAdvice

    More involvement on what countries do and work on

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  6. 1 person found this helpful  

    Friendly environment, Normal people, Not super geeks that can make you afraid of IT, Compensation is fine

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

    I have been working at Scotiabank full-time for less than a year

    Pros

    Friendly, Enjoyable, Good learning experience

    Cons

    Sometimes deadlines may come very frequent and you wont have time, Compensation is like all other banks

    Advice to ManagementAdvice

    Thank your for giving me a chance to prove myself

    Recommends
    Neutral Outlook
    Approves of CEO
  7. 1 person found this helpful  

    Analyst

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

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

    Pros

    Good colleagues, good communication, nice work environment

    Cons

    Low pay, salary, benefits, vacation pay

    Advice to ManagementAdvice

    Should be more professional

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

    Good and secure place to work.

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

    I have been working at Scotiabank full-time for more than 10 years

    Pros

    Lot's of opportunity to learn from courses and colleagues and have new work experiences. Good ideas well expressed are very welcome.

    Cons

    Lot's of red tape - as per any large organization; slow to make decisions; politics abound.

    Advice to ManagementAdvice

    Leaders need to give priority to leading their teams and treating people with respect, too many political players in the leadership.

    Recommends
    Neutral Outlook
    No opinion of CEO
  9. 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
  10.  

    Not a bad place to work

    • 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)

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

    Pros

    Work life-balance is valued, people are more down to earth and it is less cliquey that other Banks. Seems to be quite a bit of opportunity to move around between business lines.

    Cons

    Company is currently undergoing a lot of change, which brings uncertainty. Expense control is always a top priority which results in pretty lean amenities and "corporate comforts". Previously generous benefits were brought down to slightly below market.

    Advice to ManagementAdvice

    Invest in the company's infrastructure and employees - training, training, training, training.

    Recommends
    Neutral Outlook
    No opinion of CEO
  11. 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)

    I have been working at Scotiabank full-time

    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

    Scotiabank Response

    Aug 27, 2014Social Media Manager

    Thank you for your review. We want you to know your feedback is very valuable to us. The link below is from our public website and it details Scotiabank’s commitment to developing Leadership & also ... More

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