Unfortunately, to many cons to list but ill do my best. In essence, I wouldn't recommend working here. The company has a very old school corporate culture, which it desperately is trying to hold onto, despite resistance from staff members. I would describe it as there is a "Senior" vs "Junior" culture, in which if you're aged between 18-30, you will be treated like you're back in high school. The PAS department earns bucketloads of money for the company/advisers, but it is the punching bag of the company. Expect to be treated poorly at some point, by people in different departments or by financial advisers, who are quick to get angry at the department. Despite the fact that the work is extremely manual and has bucketloads of time consuming procedures.
- 10 day WFH policy a year- There is a lot of double standards in the office, especially with regards to this policy. It appears that this policy does not apply to managers/team leaders, who for some easily exceed the 10 days. This policy only applies to staff members who are aged between 18-30.
-No Headphone Policy - The Portfolio Administration Department and it's jobs become extremely predictable and easy, especially once you're competent. In fact, the job itself is a very repetitive data entry job and is unbelievably manual. Around the entire office, heaps of people disobey this rule. However, every 3 months management and team leaders kick up a fuss about this rule, and tell their staff to take headphones out, as to enhance 'productivity'. The company would rather punish their staff with an extremely mundane and boring job, by not allowing any other stimuli to keep them engaged. What's next? Making sure I slept for 8 hours to ensure my output at work is optimized for productivity? I honestly believe that less than 5% of companies in Melbourne in 2025 have this policy, it's ludicrous.
- Poor management - The head of the department was somewhat of a nightmare to work with. Constantly exhibited inappropriate and unethical behavior. The whole department did not respect him and I am gobsmacked of how he even landed the position in the first place. However, The managers/team leaders below him were genuinely good at their job, despite having some issues.
-Wage/progression/ staff brokerage - The wage is pretty shocking and do not expect to get a pay increase, even if you work really hard ( It's 60k Inclusive of super). Competitors on average offer more, usually 70k-80k P.A. for the same role. It also requires a level of accounting/finance acumen, which 60k simply does not cut in today's economy. When you start the job, they will tell you that they want to progress you after 18-24 months into a role you want (either working under a financial adviser or as a research analyst). These job opportunities open up very rarely, and even if it does, you're competing with numerous staff from other departments for the same role. There is zero guarantee you will land these roles, even if you're amazing at your job. Lastly, the staff trading policy is unbelievable. You technically (Although a lot don't) have to transfer all of your stocks into a Bell's Account, when you start. You are not allowed to trade at anywhere else but at Bell Potter, otherwise you get fired. If you like to invest, they force you to pay $40 brokerage on each trade. The price for brokerage makes it unappetizing to invest, which is a culture I would think at a broker would/should exist. Especially when you have aspiring/future equity analysts and financial advisers. Couple this with a below average wage, and pretty much no staff members invest on a regular basis.
