TMX Finance

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TMX Finance Reviews

Updated Jul 25, 2014

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All Employees Current Employees Only

2.6 73 reviews

45% Approve of the CEO

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Tracy Young

(38 ratings)

34% of employees recommend this company to a friend

Review Highlights

Pros
  • The pay is good if you have a store 600,000 and up due to the bonus program(in 4 reviews)

  • I recently received a promotion, but it proves that hard work pays off(in 5 reviews)


Cons
  • Work life balance does not exist and employees are leaving in droves(in 6 reviews)

  • The company is steady hiring people to replace vacant positions that are direct result of the culture upper management brings(in 7 reviews)

73 Employee Reviews
Relevance Date Rating
in
    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    churn employees

    District Manager (Current Employee) Savannah, GA

    Prosso much potential, yet the company does not succeed in getting core values exercised between DVP/RMs to the DMs

    Consno follow through in recognizing the efforts of the DM

    Advice to Senior ManagementDVP/RM do not care about churning through DMs. They do not judge based on the core values of the company and SVP

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

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    • No Opinion of CEO

     

    BEWARE OF AN EMPLOYER THAT HAS A SLEW OF JOB OPENINGS REGULARLY AND A HIGH TURNOVER RATE!

    District Manager (Former Employee) Atlanta, GA

    ProsBefore working here, I did my research on this company and read all the not so good reviews. Decided to give it a shot anyway to see if my experience would be different. The people that I did work with in the Atlanta area were nice. That's all I can offer you from my experience with the pros. They offer you a generous compensation package as a DM. However,they don't keep you there long enough for you to ever really see it. The other pros that are listed are clearly from people in corporate. I wouldn't believe all the hype. TRUST ME!

    ConsThe training here is terrible and inconsistent with InstaLoan. During my brief tenure with the company I was bounced around from store to store. One store that I was trained in the manager got fired while I was there training. This company as a whole has very unrealistic expectations and a business module. They focus so much on getting as many new loans and selling the max loan amount to customer, then wonder why their charge offs are so high due to customers defaulting on payments. They require you to do "chases" which is the most unethical thing ever where they have you go to the customer's home or job if the cust doesn't pay. Even the corp office doesn't have their signage on the building for "security" reasons as I was told by the corp training manager. What does that tell you about the company?! TMX offers "jobs" and not "careers." This company has a revolving door of job openings for DISTRICT MGRS, GENERAL MANAGERS, AND STORE MGRS. What does that tell you about their attrition rate?!They thrive on the weak. This company will soon go under in a matter of time. I'm almost certain. If you have no moral compass, lack humility, and human decency when dealing with customers in financial distress and hardship then this is the job for u.

    Advice to Senior ManagementI have no advice to management. They seem to already think they know it all. Spend more time in "effectively" training people you hire before you have the nerve to tell them you're not cut out for the job. Quit advising your employees to shove customers into taking more money they can afford to pay back. Rethink "chasing" customers who default on payments or have not been in communication because they are going thru hardship. For one that is not safe for the employees and it is unethical and damages the little reputation that is left of this company.

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

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    • Approves of CEO

    1 person found this helpful  

    Work hard, play hard!

    Anonymous Employee (Current Employee) Savannah, GA

    ProsThis is one company where your hard work is rewarded! There are tremendous growth opportunities and the visibility of hard work is apparent through promotions in each department, week after week! The people, executive management, and location in downtown Savannah makes this company a joy to work for!

    ConsIf you are not willing to work hard and strive to be better at every aspect of your position in order to work for the greater good of the organization, then this is not the company for you! However, if you like to be compensated with both recognition and handsome rewards such as trips to Italy, Mexico, Spain, etc then this company is definitely for you.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

  1. We want your feedback – Are these company reviews helpful to you?  Yes | No
    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    BE CAREFUL! Protect yourself and your livelihood before....

    District Manager (Current Employee)

    ProsGreat career and income opportunity for the go-getter. A TRUE performance driven company.

    ConsLeadership is lacking in some areas of the country. Not ALL areas follow the same management rules...

    Advice to Senior ManagementSVP's, DVP's, RM's, Support your promotion decisions. Give those people time to perform before discarding them. Burn & churn...That's sad to say but unfortunately so true.

    No, I would not recommend this company to a friend

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    • Approves of CEO

     

    Great company to work for!

    Recruiter (Current Employee) Savannah, GA

    ProsTMX Finance is a stable, growing company. We receive emails very often highlighting new employees who have joined the TMX Finance team and employees who have been promoted. All of the technology is wonderful and a step ahead of most companies. I left the company at one point and came back. The grass was not greener.

    ConsResponsibilities and processes change often, and you just have to roll with it. This is a good thing for me, as I tend to get bored easily. This can be a con for others.

    Advice to Senior ManagementTreat your employees well. Everyone performs better for people they like and respect and will stay with the company longer.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    • Disapproves of CEO

    3 people found this helpful  

    "Where only the interest rate exceeds the rate of turnover"

    Information Technology (Current Employee)

    ProsGreat salary; excellent co-workers past and present

    Cons5 CIO's in less than 2 years (one for only 17 days!), terrible worklife balance, move IT from place to place like traveling Gypsies (Savannah, Alpharetta, Texas)

    Advice to Senior ManagementManagement: Ask yourself, "How many of the Manager, Directors, VP's/CIO have been removed just since the relocation to Texas? Where to next? Albuquerque? Cheyenne? Guadalajara? Hyderabad? Novosibirsk? If we hired and fired the last 4 CIO's should we or someone else select the 5th?"

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

    • Culture & Values
    • Work/Life Balance
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    • Career Opportunities
    • No Opinion of CEO

    1 person found this helpful  

    Profits over people

    General Manager (Current Employee) Dallas, TX

    ProsEase of entry into CSR, SM, and GM positions. Training is provided on company's website. Pay is above average.

    ConsVery inexperienced Field management, constant changes in Policies and Procedures, very loose lending qualifications leads to inordinate amount of defaults and collection activity. They tell you you'll be spending most of your time managing but in reality you spend most of your time doing collections and paperwork. I worked for this company for nearly 2 years as a GM and saw high turn-over, high stress, and pugnacious management rampant. If you are under-educated and desperate, they offer a so-called General Manager position which in reality is a Store Manager position in charge of 1-2 people. In fact, they used to call it just that until they realized calling it General Manager had more recruiting value.

    Advice to Senior ManagementTighten up your recruiting guidelines, your lending guidelines and your 'kill or be killed culture'.... You loose many good people because the 'survivors' in the field are running the show.

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

    • Culture & Values
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    • Disapproves of CEO

     

    You don't matter, only the #'s you produce. Ethically or not, #'s are more important than people

    General Manager (Former Employee) Phoenix, AZ

    ProsNone, they don't care about people. Only money, greedy greedy greedy!!!!

    ConsLong hours, your staff is pulled to help other stores if they are short handed. You are under the gun to produce or get a write-up and lose your job.

    Advice to Senior ManagementStop being so greedy for profit, and run an ethical buisness and the money will come

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

    • Culture & Values
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    • Approves of CEO

     

    Growth and Opportunity at TMX

    Corporate (Current Employee) Savannah, GA

    ProsThe company is growing so quickly that employees are visibly rewarded for their efforts and success. I see promotions every week. Excellent work environment with smart, young professionals. I feel very secure and well supported to succeed in my career by my management team and get to have fun while working, too.

    ConsOvercoming the negative reputation of the company is probably the biggest challenge, however, it's easy to see the good as well. Employee benefits could definitely improve, especially in regards to unpaid maternity leave.

    Advice to Senior ManagementStore growth and profitability is important, but don't forget about the employees who make it possible! Invest in keeping your workforce happy with more progressive benefits packages, scheduling options, resources, and perks!

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

    • Culture & Values
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    • No Opinion of CEO

     

    They talk the talk, but don't walk the walk-

    General Manager (Current Employee)

    ProsYou do get to work in a pleasant office, at least all stores I have worked in. If you get a decent manager above you, your job can be reasonably fun. They do pay for most Holidays off for GM and higher level. The training is pretty thorough, although turn over is so high, I got sent out to run stores before 50% of training was completed.

    ConsThey bragged about ALL of the GM's made at least $73K, after getting into the district, find out that only 20% of the GM's made that the previous year. Market is saturated in my area, nearly impossible to grow your business. Threatening attitude from upper level management, without solid advice on how to fix a problem. Quality of life is crap, you will be gone from your family at least 12 hours per day. Favoritism as opposed to preformance seem to rule in my area for promotions and transfers to better opportunities.

    Advice to Senior ManagementTry to be leaders, not bosses. If you don't know the difference, there are plenty of books out there to read-

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

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