Standard Bank Group Reviews

Pros

Largest bank in Africa, competitive culture, good working environment, pay for good performance, good career progression, various paths that can be followed.

Cons

Least innovative of the big 4 banks in South Africa, located on Johannesburg CBD as opposed to Sandton, Biggest shareholders are Chinese

Advice to Senior Management

Need a more transparent salary, bonus and promotion process. Need to be more innovative regarding product range and services. Less red tape and allow for more initiative. Need better skills within the bank

Pros

If you can identify an opportunity, you can leverage the bank's expertise to create a business for yourself with like minded individuals.

Cons

It can appear as an organisation that is in constant reorganisation, which can be a daunting prospect for less experienced individuals trying to carve out a consistent career.

Pros

Supportive environment with many growth opportunities, employee empowerment. The environment provides one to engage with Senior staff and be involved in some strategic decisions within projects.

Cons

The bank at times seems too big with silo processes which leads to unnecessarily repeated duties, lack of cohesive actions.

Advice to Senior Management

Get in touch with the operations and really focus on improving these - start a drive which focuses on improving business processes.

Pros

On average the best quality people in Financial Services, specifically Investment Banking in South Africa. Highly competent leadership who act with integrity, honesty and the necessary wisdom and constraint. Culture of openness and respect towards employees. Incredible depth of talent across the Corporate and Investment Bank. Invests in people and provides numerous opportunities for learning and growth. Fair employer.

Cons

Generally doesn't pay well compared to the local and global market for Corporate and Investment Banking.

Advice to Senior Management

Standard Bank has the best people in the South African market and it's a great place to work.

Pros

Career advancement, good working environment.

Cons

Too much work to be done.

Advice to Senior Management

Increase entry level salary

Pros

Flexible work environment, great people, good opportunities for personal and professional development.

Cons

Poor pay - not market related. Poor promotion prospects - most people leave the bank and then return at a higher level. They tend to hire externally rather than promote from within.

Advice to Senior Management

Grow your own talent.

Pros

Standard Bank is big. If you want a steady job, not do more than you are told, this is the place.

Cons

SB is so big, you never feel part of the bigger picture. I really feel that it is solely a place a work for. They don't try to make it more than that.

As a young employee, I don't feel that my career and abilities are fully utilized.

The recent retrenchments were handled very poorly. Morale is really down and employee loyalty is gone.

Advice to Senior Management

The retrenchments didn't affect that many people but the process was a disaster.
Improve talent management.

Pros

small size, better opportunity, chance to see more

Cons

small size, management has less exposure to industry standards.

Advice to Senior Management

bad management style

Pros

Provided you end up with rational team and a manager:
1) Good recognition for hard wrok
2) promotions and pay hikes
3) Relaxed culture compared to other investment banks ( some teams are opposite)
4) Experience with Emergin market activities

Cons

Some business units push IT associates to the wall and want you to work hard till you die. Still you might end up getting very bad reviews and resulting in bad appraisals. No methodic work culture in business leads to IT following same and as some one said there is no "Standard" in Standard bank

Advice to Senior Management

Encourage existing employees to come up with solutions and most importantly talk to them.

Pros

- Good work-life balance
- Friendly environment
- Management support in career progression

Cons

- Low salaries
- Limited benefit package compared to other companies in the sector

Advice to Senior Management

Meritocracy should be applied when selecting candidates for senior roles.
Employees should be rated primarily according to their work attitude and deliverables