Standard Chartered Bank

www.standardchartered.com
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  1.  

    “Broken promises, increasingly insanely bureaucratic, grade discriminatory, low paying, crazy hours”

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee in Karāchi (Pakistan)
    Current Employee - Anonymous Employee in Karāchi (Pakistan)

    I have been working at Standard Chartered Bank full-time (more than 5 years)

    Pros

    Supposed opportunities to go abroad - but these are very rare and never sponsored or supported or promoted by your local managers..

    Cons

    Cons – Work life balance at Standard Chartered does not exist. thanks to the quality of managerial staff they've hired and the training they impart to them (cause they won't train you)... your manger will think he has hired you as a personal slave on call 24/7/365 (i kid you not) ... and that you work for him and not the organization. Forget fair compensation. they will sell you statements to the effect of how 'competitive' (read: low) their salary structure is - of how the 'bonus' structure puts you ahead of everyone else... empty hot air. thats all. at 'review' time - which btw you will not have because the management does not have the guts to do this face to face - and in any case your rating is already decided weeks in advance and there is very little you can argue to impact it... so you merely get handed a paper that says what you've been 'rated' and what your 'compensation' is - and a speech about how 'difficult' things are etc and that what you've been given is better than anyone else... even though the 'bank made a killing in the market and is the most profitable out there'...

    career progression - they still follow the 'bell curve' methodology to rate 'talent' (its easiest and they've kinda grown adept at it of late) - not that you will know what you've been profiled - where you can improve - what is expected of you. but there are forms somewhere to these effect that someone is filling out about you. rest assured. they do follow processes on paper. but your ranking/status/profile will never be shared with you - nor will you have a clue of what/how you're doing - until the review - and not even then...

    personal growth/upskilling/ trainings. on paper only. its all up to you when you find the time and opportunity for these on your own for your own.

    HR at Standard Chartered suxs. it does not exist to assists, guide, *gawd forbid* mentor, inform, defend, enforce employee supportive policies of any sort - it is merely a tool to recruit fodder for the grinder, and ensure paper filling exercises with fancy names are completed, mostly post dated - just to complete the process. you will not have an HR relationship manager that you will have ever met. and if you have nothing will ever have come out of it in your favor.

    benefits. these don't exist beyond the statutory requirements of 'medical' and 'housing' - which as statutorily defined are a third of your paltry basic pay - because they are a 'reward' structured organization - with competitive salary structures.. but this rule is not uniformly applied for there are numerous examples to the contrary - entirely composed of fresh hires... not all of whom are fortunate enough to get this exemption...

    Advice to ManagementAdvice

    Hire competent human beings and not mere yes men or favorites/relatives for management positions. Grow the organization internally. your staff are human beings - just like you - and would like to be treated to the same courtesies, policies, and fairness as you. Work can hold for the next day - the world will not come to an end. Compensate everyone for work done if at par is challenging for you - how do you justify exorbitant salaries for certain individuals at the same job grade and not for others? why do new hires get paid over the top - you have such little faith in your internal organization / why is there no succession planning *grooming* internally!?

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2. 2 people found this helpful  

    What you do will be really different from what's written on their website and during recruiting.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Fast Track Graduate in Taipei (Taiwan)
    Current Employee - Fast Track Graduate in Taipei (Taiwan)

    I have been working at Standard Chartered Bank full-time (less than a year)

    Pros

    Good employment benefits (15 days annual leave at least, vacation expense complementary)
    No check-in and check-out, which is very different from the traditional local way.

    Cons

    The programme basically offers little on-job training and involves lots of time when you have to force sell people products. You will be doing what a salespeople do and that's the only thing you will be doing in this programme as well.

    Also, there's a lack of team spirit among colleagues; this could be due to the fact that most of the colleagues you will be working with are sales people in a branch who receive constant pressure from the branch manager and working in a team wouldn't help them in expanding their business so they are not encouraged to cooperate with one another, but rather work alone.

    Advice to ManagementAdvice

    Matrix management style can cause a lot of conflicts and troubles.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  3. 1 person found this helpful  

    RETAIL BANKING IS A HORRIBLE PLACE

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Relationship Manager in Singapore (Singapore)
    Current Employee - Relationship Manager in Singapore (Singapore)

    I have been working at Standard Chartered Bank full-time (more than a year)

    Pros

    staff benefit is not fantastic but ok.

    Cons

    bad operation
    unreasonable target
    managment always come first and unreceptive to feedback from lower level
    does not respect lower level staff
    no proper segregation of duties between departments.

    seriously does not encourage anyone to come here, esp fresh graduate who would like to consider a career in banking sales this place is a definite no no.

    Advice to ManagementAdvice

    have to start treating staff fairly

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
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  5.  

    Very competitive and demanding

    • Comp & Benefits
    • Work/Life Balance
    • Career Opportunities
    Former Employee - Relationship Manager in Karāchi (Pakistan)
    Former Employee - Relationship Manager in Karāchi (Pakistan)

    I worked at Standard Chartered Bank full-time (more than 5 years)

    Pros

    Foreign exposure, latest knowledge, high brand value in market and large operations making it easier to move internally.

    Cons

    Volatile working conditions, insincere bosses and rewards based on perception management rather actual performance

    Advice to ManagementAdvice

    Q12 needs to be taken seriously and if someone is not rated well he/she needs to be reviewed in detail.

  6.  

    Nice bank

    • Work/Life Balance
    • Career Opportunities
    Current Employee - Associate in Taipei (Taiwan)
    Current Employee - Associate in Taipei (Taiwan)

    I have been working at Standard Chartered Bank full-time (less than a year)

    Pros

    People are nice, the bank has great culture and orginization

    Cons

    Systems need improvement or some combination

    Advice to ManagementAdvice

    Great management team. People are willing to share their experiences with others.

  7. 1 person found this helpful  

    Broken promises, increasingly insanely bureaucratic, grade discriminatory, low paying, crazy hours

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee in Karāchi (Pakistan)
    Current Employee - Anonymous Employee in Karāchi (Pakistan)

    I have been working at Standard Chartered Bank full-time (more than 5 years)

    Pros

    Supposed opportunities to go abroad - but these are very rare and never sponsored or supported or promoted by your local managers.

    Cons

    Work life balance at Standard Chartered does not exist. thanks to the quality of managerial staff they've hired and the training they impart to them (cause they won't train you)... your manger will think he has hired you as a personal slave on call 24/7/365 (i kid you not) ... and that you work for him and not the organization. Forget fair compensation. they will sell you statements to the effect of how 'competitive' (read: low) their salary structure is - of how the 'bonus' structure puts you ahead of everyone else... empty hot air. thats all. at 'review' time - which btw you will not have because the management does not have the guts to do this face to face - and in any case your rating is already decided weeks in advance and there is very little you can argue to impact it... so you merely get handed a paper that says what you've been 'rated' and what your 'compensation' is - and a speech about how 'difficult' things are etc and that what you've been given is better than anyone else... even though the 'bank made a killing in the market and is the most profitable out there'...

    career progression - they still follow the 'bell curve' methodology to rate 'talent' (its easiest and they've kinda grown adept at it of late) - not that you will know what you've been profiled - where you can improve - what is expected of you. but there are forms somewhere to these effect that someone is filling out about you. rest assured. they do follow processes on paper. but your ranking/status/profile will never be shared with you - nor will you have a clue of what/how you're doing - until the review - and not even then...

    personal growth/upskilling/ trainings. on paper only. its all up to you when you find the time and opportunity for these on your own for your own.

    HR at Standard Chartered suxs. it does not exist to assists, guide, *gawd forbid* mentor, inform, defend, enforce employee supportive policies of any sort - it is merely a tool to recruit fodder for the grinder, and ensure paper filling exercises with fancy names are completed, mostly post dated - just to complete the process. you will not have an HR relationship manager that you will have ever met. and if you have nothing will ever have come out of it in your favor.

    benefits. these don't exist beyond the statutory requirements of 'medical' and 'housing' - which as statutorily defined are a third of your paltry basic pay - because they are a 'reward' structured organization - with competitive salary structures.. but this rule is not uniformly applied for there are numerous examples to the contrary - entirely composed of fresh hires... not all of whom are fortunate enough to get this exemption...

    Advice to ManagementAdvice

    Hire competent human beings and not mere yes men or favorites/relatives for management positions. Grow the organization internally. your staff are human beings - just like you - and would like to be treated to the same courtesies, policies, and fairness as you. Work can hold for the next day - the world will not come to an end. Compensate everyone for work done if at par is challenging for you - how do you justify exorbitant salaries for certain individuals at the same job grade and not for others? why do new hires get paid over the top - you have such little faith in your internal organization / why is there no succession planning *grooming* internally!?

    Doesn't Recommend
    Negative Outlook
  8. 2 people found this helpful  

    Glad to be leaving!!!

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

    I have been working at Standard Chartered Bank full-time (less than a year)

    Pros

    It's not as 'cut-throat' as some of the other investment banks

    Cons

    Rubbish HR, appaling IT support - both outsxourced to India (it's like having the most frustrating call-center conversation every day)
    Non-progressive environment
    The bank is basically an Asian bank with a British sounding name and heavily adopts the SE.Asian way of working - the Singaporean government holds a high percentage of shares.
    Takes absolutely ages to get anything done
    High rate of new joiners end up leaving 6mths within joining

    Advice to ManagementAdvice

    Sort out your HR and IT support before more new joiners leave - you know it's a problem...do something about it!

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  9.  

    Trying too hard to be like an investment bank

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Director
    Former Employee - Director

    I worked at Standard Chartered Bank

    Pros

    Excellent international opportunities, particularly if you get on the ex-pat scheme
    Fantastic Asian franchise

    Cons

    Too many employees on the graduate scheme who do not contribute to the business
    Recent focus on investment banking instead of core commercial banking
    Communication on the ground level

    Doesn't Recommend
    Approves of CEO
  10.  

    Disappointing. Was not given an opportunity to learn, grow or improve.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Business Development Manager in Mumbai (India)
    Former Employee - Business Development Manager in Mumbai (India)

    I worked at Standard Chartered Bank

    Pros

    Large company, large network. Great f&b facilities, good fitness facilities.

    Cons

    NO heart. Employees act very proud and do not help their colleagues. Maybe they feel they need to behave that way because of the brand association. However, it was a disturbing experience for me - I would not recommend it to anyone who is interested in a useful career progression and/or learning opportunities.

    Advice to ManagementAdvice

    Learn and focus development of people as the equity of the company rather than a resource.

    Doesn't Recommend
    Disapproves of CEO
  11.  

    SC BANK

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Standard Chartered Bank

    Pros

    Reputation in the market.
    starbucks on the ground floor

    Cons

    Poor salaries/benefits.
    Work ethics hardly found.
    Horrible environment

    Advice to ManagementAdvice

    Take care of your employees. There is a reason that you have a skyrocketing turn-over ratio among the competitors.

    Doesn't Recommend

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