The Private Bank

  www.theprivatebank.com
  www.theprivatebank.com

The Private Bank Reviews

Updated September 15, 2014
Updated September 15, 2014
19 Reviews
3.4
19 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
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Larry Richman
11 Ratings

Employee Reviews

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  1. 1 person found this helpful  

    Great bank compared to most.

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

    I have been working at The Private Bank full-time (more than 3 years)

    Pros

    Not referral/sales crazy
    Laid back
    Easy work
    Good benefits
    Work life balance is great--- Not super long hours
    Yearly bonuses and raises

    Cons

    Hard to move forward
    Could get stuck if your manager doesn't like you
    Aren't noticed for your hard work

    Advice to ManagementAdvice

    Notice how hard your workers work and move up the people who actually try their hardest, not just the people you're close to.

    Recommends
    Positive Outlook
  2.  

    Great Summer Internship Program

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Intern in Chicago, IL
    Former Employee - Intern in Chicago, IL

    I worked at The Private Bank as an intern (less than an year)

    Pros

    Exposure to one area of the bank, however, weekly meetings with all of the other interns in the other areas for a broad spectrum on the bank. Opportunity to become involved as a team member and participate in projects that will help the area and other areas as well.

    Cons

    Changes are coming with time and they are working on them, the departments just need more time to get 100% adapted.

    Advice to ManagementAdvice

    Have more protocol on certain procedures.

    Recommends
    Positive Outlook
    Approves of CEO
  3.  

    It pays the bills.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee in Bloomfield Hills, MI
    Current Employee - Anonymous Employee in Bloomfield Hills, MI

    I have been working at The Private Bank full-time

    Pros

    Time off policy is great and I love knowing I will never have to work on the weekend or a holiday. You get your paycheck.

    Cons

    Not being in Chicago where the main offices are located, communication and training are poor. There is little to no room for advancement. Benefits are only so so.

    Neutral Outlook
    Approves of CEO
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  5.  

    Nice place to work if you're a commercial relationship manager; less so if you work in the back office.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Managing Director in Chicago, IL
    Current Employee - Managing Director in Chicago, IL

    I have been working at The Private Bank full-time (more than 5 years)

    Pros

    Great work life balance. Bank is small enough that you have regular exposure to senior management.

    Cons

    Management plays favorites and discourages out of the box thinking. Lots of lip service paid to career development, but it's all about stock price. HR is a total joke.

    Advice to ManagementAdvice

    Consider more substantial investments in back office. Try rewarding others besides arrogant business bankers.

    Negative Outlook
    Disapproves of CEO
  6.  

    I had a great time as an intern. Great people working there.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Loan Administration Specialist in Chicago, IL
    Former Employee - Loan Administration Specialist in Chicago, IL

    I worked at The Private Bank as an intern (less than an year)

    Pros

    The people there are top-notch, and the camaraderie at within the bank is the best I have seen.

    Cons

    Because their name is not totally out there, it can be difficult to find out about it.

    Advice to ManagementAdvice

    Become more loose with restrictions on your top people. Trust them to do what is best for the company more.

    Recommends
    Positive Outlook
    Approves of CEO
  7.  

    Summer student internship with The Private Bank

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at The Private Bank

    Pros

    Good hourly pay for a summer intern, got a lot of responsibilities, worked on my own personal projects, met and networked with other interns, great resume builder

    Cons

    At times the projects were busy work involving data entry

  8.  

    They think they are a good bank

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Associate Managing Director in Chicago, IL
    Current Employee - Associate Managing Director in Chicago, IL

    I have been working at The Private Bank full-time (more than an year)

    Pros

    Nice office, pay is great

    Cons

    Management has no clue. Wealth Management group has never been profitable because management cant figure it out. The head of the wealth group only keeps her job because the old boys club needs to have a woman manager. Larry and his LaSalle crew thought they would come in and raise the stock price then cash out, but due to their poor management the stock is still around $15. Not sure why the shareholders allow this to continue.

    Advice to ManagementAdvice

    Resign

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  9.  

    Good middle market bank

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee in Chicago, IL
    Former Employee - Anonymous Employee in Chicago, IL

    I worked at The Private Bank full-time (more than 3 years)

    Pros

    Good career prospects, good exposure to management.

    Cons

    Culture and operations are stuck in the 90s

    Advice to ManagementAdvice

    Forget about La Salle.

    Recommends
    Positive Outlook
    Approves of CEO
  10.  

    You need to be there at the right place and the right time

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

    I worked at The Private Bank

    Pros

    Compensation is getting better, fast paced environment, always challenges, Never bored. Family atmosphere at the branch offices.

    Cons

    I worked with a global consulting firm, brought in for an enterprise project, and the lead consultant told me that she had never been to a place that had "so many meetings". There are layers upon layers of management, Middle Management and Associates are not given tools to make decisions on the operations side. "The Process" is designed to insulate senior management.

    Advice to ManagementAdvice

    Cut the management fat. Senior Lenders who were moved to operational roles when the economy tanked need to revert back to ther old roles. Risk Managers brought in to appease shareholders and private capital during the banking crisis need to be pared down.

    No opinion of CEO
  11.  

    This place is fool of great people and a very professional environment.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Teller I in Chicago, IL
    Former Employee - Teller I in Chicago, IL

    I worked at The Private Bank

    Pros

    You can move up very quickly.

    Cons

    It is very demanding and long hours at times.

    Advice to ManagementAdvice

    Give employees more freedom to think of ways to change how the culture is within the company.

    Recommends
    Approves of CEO

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