Standard Chartered Bank
3.5 of 5 552 reviews
www.standardchartered.com London, United Kingdom 5000+ Employees

Standard Chartered Bank Reviews

Updated Jul 8, 2014
All Employees Current Employees Only

3.5 552 reviews

                             

90% Approve of the CEO

Standard Chartered Bank Group CEO Peter Sands

Peter Sands

(223 ratings)

76% of employees recommend this company to a friend
552 Employee Reviews
in

Review Highlights

Pros:
  • "the Group itself creates a good campaign (work life balance, improve way of work)"
    in 44 reviews
  • "Cosmopolitan working environment with a strong allegiance towards controls and compliance"
    in 34 reviews
Cons:
  • "work life balance based upon projects"
    in 19 reviews
  • "long working hours, low pay, no recognition at work unless youre an indian"
    in 15 reviews
  • Show more review highlights

Reviews

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    Poor management

    Anonymous Employee (Former Employee)
    Shanghai, Shanghai (China)

    Pros-Good geographical mobility. Asked to be posted abroad and did so because of internal referral.
    -Generally nice working colleagues.
    -Local bosses tend to be very opinionated and will go all out to either promote you or make you suffer.

    Cons-Overseas work contracts can be more transparent. Gave me a 1 year contract term as a contract worker. Only realized most other expats were on permanent or open-ended contracts when I transferred over.
    -Management focuses on grooming local talents at the expense of expats. Voices (in all areas you can possibly think of) of expats often go unheard.

    Advice to Senior ManagementShow more care and concern for your expats, otherwise, send them back altogether

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    Very mediocre

    Anonymous Employee (Former Employee)

    ProsCan't really think of many apart from its strong presence in Asia Pacific

    ConsMid-tier bank where people have the attitude of 'A' gamers

    No, I would not recommend this company to a friend

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    Good Experience

    Anonymous Employee (Former Employee)

    ProsFree culture, very process oriented company to work with.

    Consless job security, extensive work pressure

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    Political, unrealistic expectations

    Wholesale Bank (Former Employee)

    Pros- Caring culture, active in community service
    - Opportunity to work with colleagues around the world

    Cons- Unrealistic expectations for the amount of resources provided, which means long hours, tough to meet targets and in-fighting between teams to secure more resources
    - Low levels of job security for junior staff. Management constantly cultivates a perception that you need to do more and that you are easily replacable
    - Reward and promotion is pretty much hit and miss, really depends if you have a line-manager that recognize your contributions (frequently not). In which case one needs to be aggressive enough to make their contributions known to management a level above which may upset your line-manager.

    No, I would not recommend this company to a friend

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    Great place to retire

    Product Manager (Current Employee)
    Singapore (Singapore)

    ProsExpectations are low as the general work culture is about passing the buck, and not getting much done.

    ConsIf you are an over-achiever and like completing tasks, and being generally efficient, you will get frustrated in this environment

    No, I would not recommend this company to a friend

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    • Disapproves of CEO

     

    Just okay

    Banking Officer (Former Employee)
    Hong Kong (Hong Kong)

    Prospeople there are friendly and helpful

    Consworks are tedious and overloaded, pay below average

    Advice to Senior Managementimprove the compensation and benefit, and average working hour

    No, I would not recommend this company to a friend

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    nothing worthy

    Anonymous Employee (Former Employee)

    Prosdecent training and culture here

    Constop heavy; sluggish growth opportunity

    Advice to Senior Managementrock the boat

    No, I would not recommend this company to a friend

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    Slowly going downward

    Anonymous Employee (Current Employee)

    Pros- You can't get fired

    Cons- Nothing is getting done in this organization
    - Avoiding & throwing responsibilities each other

    Advice to Senior ManagementBe trustworthy, please

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    Not good

    (Former Employee)
    London, England (UK)

    ProsSome people are great, nice offices in the City, good reputation especially in Asia.

    A good focus on CSR and Peter Sands has managed to keep the Bank very profitable during recession.

    ConsThe Bank communicates as being a caring employer but it is not. I was made lots of promises about being made permanent right to the end of my last contract then they got rid of me without any interest in the impact it had on me, just because it suited them. And very little notice too!

    Fair enough when you are in banking: it's a heartless industry. But usually the package makes up for that. It's the not the case at the Bank as it underpays. Relocation to Singapore is an easy way to recruit and retain though as taxes are so low there, especially compared Western Europe. Be however careful that non-permanent residents and nationals get a mere 3% of additional of cash in lieu of employer pension contributions while the UK pension scheme is fairly good (10 to 14% contributions depending on age if I remember well and if the Bank has not made itself compliant with age-discrimination legislation since I left). The relocation package is a bare minimum too.

    There is also a prudent approach to anything and a big culture of engagement and consensus. Good idea but it's taken to the extreme, up to the point of inefficiency. The decision-making process is very slow, if any decision is made at all. Projects are planned at the beginning of the year and there is no departing from those. There is no reward for addressing other matters that pop up in the year, leaving the Bank exposed to non-compliance. The "it's not my role" attitude doesn't help either.

    Relationship-based business too. What it means in practice is that anyone who is part of the furniture will have more influence than a more recent recruit. Not very motivating.

    Finally, hierarchy thrives at the SCB with a little caste system within it. The lower caste is grades 9 to 5 and the superior ones are in bands 4 to 1. This is to the point that people will talk of graded or banded employees.

    Advice to Senior ManagementTreat your staff better. The economy will eventually pick up and the competition will suddenly become very attractive.

    No, I would not recommend this company to a friend

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    Controlled chaos, heading towards the wrong direction

    Service Manager (Current Employee)

    ProsIt started out as a pretty good company: strong balance sheet, risk averse, somewhat cares about staff, good career progressions. Its branding and CSR are still very strong. Corporate values are still very strong, although this is constantly being diluted by new hires.

    ConsToo many new hires in middle and top management making changes they don't really understand, especially in technology. Systems are horrible because of budgetary/time line constraints, and as a result staff are overworked because of the manual workarounds that are added to address system limitations. This is a trainwreck waiting to happen.

    Advice to Senior ManagementThere's only that much you can squeeze from your staff

    No, I would not recommend this company to a friend – I'm optimistic about the outlook for this company

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Glassdoor is your free inside look at Standard Chartered Bank reviews and ratings — including employee satisfaction and approval rating for Standard Chartered Bank CEO Peter Sands. All 552 reviews posted anonymously by Standard Chartered Bank employees.