Standard Chartered Bank

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Standard Chartered Bank Reviews in Singapore Singapore

Updated Jul 25, 2014
All Employees Current Employees Only

2.6 97 reviews

23% Approve of the CEO

Standard Chartered Bank Group CEO Peter Sands

Peter Sands

(44 ratings)

18% of employees recommend this company to a friend

Review Highlights

Pros
  • Work-life balance does exist, but there are some individuals who slog like slaves (in 47 reviews)

  • Nice working environment inside the company (in 38 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)

More Highlights
97 Employee Reviews Back to all reviews
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    Very long hours rewarded by a fantastic view of Marina Bay

    Summer Analyst (Former Employee) Singapore (Singapore)

    ProsI once asked my analyst the best part of wroking fro Standard Chartered.

    24 Days annual leave :D

    The best part about working here is not working here.

    ConsThe pay is terrible. Horrendous.

    Advice to Senior ManagementPay us more.

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    • Approves of CEO

     

    Great place for career development and international exposure

    Director (Current Employee) Singapore (Singapore)

    ProsWorked in five different roles/offices in 8 years with the bank. Worked with international colleagues across Asia, Africa and Middle East. Fantastic opportunities to move into different roles and gained experiences in project management, facilitation of discussions, managing business relationship, development of influencing and communications skills. Opportunities to interact with senior business leaders and participate in decision making process once you have proven with your skills and attitudes

    ConsRetrenchment is unavoidable in banking industry and more so now for the past 2 years. You have to watch your back tightly and check if your job is secured from time to time. You do not want to be catch unprepared.

    Advice to Senior ManagementCost management s important to the P and L of the company. However, it may be difficult to spot the real talent who really contribute positively, worth their salary and stay in the bank. management need to be more discern on who to let go rather than letting go blindly and basing the reason solely on manpower cost.

    No, I would not recommend this company to a friend

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    Good bank to work for

    Junior Manager (Former Employee) Singapore (Singapore)

    ProsOpen culture and very good staff benefit. Encourages growth.

    ConsNice gesture to keep those who worked for a long time around however it give the impression to the junior staff that they may not be given the opportunity due to some long timers holding on to their same position for a long time.

    Advice to Senior ManagementContinue on the open culture and policies. Get it touch with the junior people on the ground to get a deep understanding on the morale or challenges they are facing.

    Yes, I would recommend this company to a friend

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    • Culture & Values
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    A very rewarding experience to have the opportunity to work in a international bank like Standard Chartered Bank.

    Director (Current Employee) Singapore (Singapore)

    ProsGood work-life balance and provides the opportunity to gain experience in the whole range of banking products and services available out there.

    ConsMatrix organization can be confusing to new joiners.

    Advice to Senior ManagementContinue to keep the communication with the troops going.

    Yes, I would recommend this company to a friend

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    I had a great 8 years there but the culture changed significantly and it became too inwardly focussed

    MD, Human Resources (Former Employee) Singapore (Singapore)

    ProsGreat, inspiring leaders who care about what they do
    Not as bureaucratic as competitiors
    Company's Here For Good ethos is great
    Good market footprint

    ConsThe company has become too inwardly obsessed and cautious.

    Advice to Senior ManagementCut out the BS and get back to basics!

    Yes, I would recommend this company to a friend – I'm not optimistic about the outlook for this company

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    • No Opinion of CEO

     

    Business Development Manager

    BDM (Former Employee) Singapore (Singapore)

    ProsIt was a sales role so it was quite free and easy.

    ConsHowever, I think at times it may be more of relationship building between the manager and subordinate than actually achieving KPIs. So in a nutshell, it is important to please the boss.

    Advice to Senior ManagementTry to be fair for a start.

    No, I would not recommend this company to a friend

    • Culture & Values
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    • Approves of CEO

     

    Fast-paced, Enjoyable and Challenging Experience for International Graduates in Coverage & Corporate Finance

    Analyst (Former Employee) Singapore (Singapore)

    Pros- Good rotations across different teams within the bank, from industry coverage teams, investment banking coverage (SCB terms it as Strategic Client Coverage Group, or SCCG), or corporate finance
    - Leaders and seniors who take the time to nurture and develop you as a finance professional
    - Networks across the bank in various geographies. Opportunity to work alongside an international team
    - Good amount of deal flow for the debt-driven products given SCB's advantage as a balance sheet bank
    - Interaction with external stakeholders early on in your career. Given the opportunity to meet clients and partners in other banks, present the financial model, and learn not just about the financial aspects of a transaction, but also the legal side of things
    - Flat, non-hierarchical structure within certain teams
    - No hire and fire culture/ sink or swim culture
    - Nice view from the office at MBFC Tower 1

    Cons- Compensation is not pegged to market, especially if you end up in SCB Corporate Finance, where the hours you put in are substantial and comparable to other investment banks.
    - Employee Review for International Graduates is pegged to an average and determined by your graduate sponsor (mentor), who may not be your direct superior in your rotations and is less likely to grade you favourably
    - You might not end up in the team of your choice within the bank, and might be allocated to a role within the corporate banking teams instead of a corporate finance team. Competition is extremely fierce for certain teams within the bank

    Advice to Senior ManagementStay true to the values of the bank

    Yes, I would recommend this company to a friend

     

    Great introduction to working life

    Business Analyst (Former Employee) Singapore (Singapore)

    ProsWork life balance for most business groups
    Pretty competitive salary
    Good benefits and a huge focus on corporate social responsibility

    ConsInformation system issues aplenty, very manual work required to work around the system limitations
    Weak HR Team that is only visible during the recruitment process

    Advice to Senior ManagementKeep it up

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    • Approves of CEO

    1 person found this helpful  

    Recent merger of wholesale and consumer banking, and shifting of tech & ops roles to South Asia is ruining the bank.

    You Don't Need to Know (Current Employee) Singapore (Singapore)

    ProsI work in the technology division and here are my thoughts in bullet point:

    - Pay scale is pretty good. However, the range is also wide, so it boils down to how generous your boss is.
    - Work-life balance does exist, but there are some individuals who slog like slaves.
    - Most people enjoy the flexibility of working from home once in a while, as long as you deliver what is required.
    - Lots of leave for permanent employees.
    - No shortage of employee volunteering opportunities.
    - If you work in the city office, it's very accessible, but you will spend a lot of time and money on food and parking.
    - If you work in the changi office, there are more (affordable) lunch options compared to a couple of years ago, but it can be difficult getting to work if you miss the free company shuttle buses to Changi - unless you stay a couple of train stations away from Expo.
    - Medical benefits is ok, but not great when compared to other banks.
    - Group CEO is widely respected and revered.

    Cons- Most of the middle managers, and some senior managers, seldom come across as impressive when it comes to their management style or expertise.
    - Too many people were hired just because they are friends with the hiring manager, and not because they are genuinely capable of what they do. If you want to shift to another role within the bank, you have to spend a lot of time and effort networking.
    - This bank is horribly, terribly disorganised, and many things are done last minute. This compromises the quality of work.
    - When it comes to new business opportunities or innovation in banking, they are always one step behind other banks.
    - Managers of south asian descent tend to hire people of the same race. Other people have also said that they generally have difficulty adapting to the working styles of other races.
    - There is a lot of shifting of tech & ops roles to South Asia for the sake of lowering costs. I personally think it's a recipe for disaster. Most of the time, the southern Asian counterparts are seriously lacking basic communication and listening skills. They are not efficient in delivering outcomes and many projects get delayed very badly. Project cost over-runs can get rather alarming. When they say "yes, it's done" or "yes, it will be done", it usually turns out to be the opposite. I don't believe it to be true for all south Asians, and there are exceptional cases within the bank (though very few), but such sentiments are echoed by many other non-south-Asians in the organisation.
    - Quite a lot of redundancies were made with the recent merger of its wholesale and consumer banking business. Sometimes these retrenchments happen so fast, it's just bollocks!
    - Since the merger, everything is in a state of confusion and semi-chaos because people are not sure where the company is heading, how they should navigate the organisation to get things done and how it impacts their promotion and pay. There has been little communicated to staff worldwide.
    - From time to time, you hear about women sleeping up the corporate ladder. And they still get away with it.
    - Didn't bother about the employee share options - doesn't seem attractive.

    Advice to someone who is thinking of joining this organisation soon:
    - Wait for the dust of the recent reorganisation to settle first. I suspect this may take about a year from now.

    Advice to Senior ManagementFocus on hiring the right people with the right skills, and not just base it on personal connections. So much more can be done to improve employee diversity of skills, gender, sexuality and race.

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

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    An exciting place to work if you don't mind much about compensation level

    Software Engineer (Former Employee) Singapore (Singapore)

    ProsManagement team generally have their eyes "on the ball". Team culture is positive and enjoys high level of collaborative work. IT process is more matured than some other banks.

    ConsThe compensation level should be higher in centers like Singapore or London. Senior management acknowledged their high staff attrition rate in Singapore probably due to this non-competitive factor.

    Yes, I would recommend this company to a friend

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