Credit Suisse Reviews in London, England | Glassdoor

Credit Suisse London Reviews

Updated April 11, 2017
12 reviews

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London, England (UK)

1.0
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Credit Suisse CEO Tidjane Thiam
Tidjane Thiam
4 Ratings

12 Employee Reviews

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Pros
Cons
  • The pay is below the street and Work Life balance can be difficult (in 136 reviews)

  • Incredibly long hours (no surprise there (in 143 reviews)

More Pros and Cons

  1. Helpful (1)

    "A sad time to be at a bank"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Vice President, Trader in London, England (UK)
    Former Employee - Vice President, Trader in London, England (UK)
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Credit Suisse full-time

    Pros

    Working with many erstwhile traders
    Good team spirit

    Cons

    Was a period when without warning huge job cuts took place.
    Get rid of more management that seems to outnumber underlings.

    Advice to Management

    Too much management at the time which was one of the main reasons those below them lost their roles.


  2. Helpful (4)

    "A formerly good company going through some very bad times"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Director in London, England (UK)
    Current Employee - Director in London, England (UK)
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Credit Suisse full-time (More than 8 years)

    Pros

    When I joined Credit Suisse in 2008, it stood out from the other institutions I had worked for in having many highly qualified yet collegial employees. Often, in financial institutions, you either get one or the either. It had the entrepreneurial aspects of an American firm, with the work environment quality that you get in an European institution. It was a pleasant and enjoyable place to work, one in which me and my team worked hard for because we were valued, and felt proud to work for Credit Suisse.

    Cons

    Unfortunately, Credit Suisse has two major problems at present (it has others, but let's focus on the most important things). First, it is undergoing a costly and difficult major restructuring, and second it is not making any money. These two issues are not unrelated, but in the current situation amplify off each other. As a result, there have been at least 8 (yes, eight) sequential rounds of redundancies in London the last few years, more to come. All the good of the past (people, culture, management) have been lost, with only third tier management and a demoralised employee base remaining. Revenue and compensation like-for-like are bottom quartile when compared with other "peer" top-10 investment banks.

    Advice to Management

    Credit Suisse, for lack of other analogies, is like the European Union. Kicking the problem down the road only makes it bigger and harder to deal with later. Man up! Get some talented senior management in. Value people for their accomplishments and what they have done, rather than their "platform". I can go on, but I thought this would be a good start.


  3. Helpful (1)

    "Unsettling. Complete reversal of work life balance due to savage cuts. Existing staff careers put on reverse mode."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Director IT in London, England (UK)
    Current Employee - Director IT in London, England (UK)
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Credit Suisse full-time (More than 5 years)

    Pros

    The few people who are left have a good work ethic although they are not appreciated. Only the bean counters hold all the power. Even the business feels powerless.

    Cons

    Very poor strategy cascade with regular shifting of goal posts. Staff and budget cuts over rides any business strategy. Extremely low moral.

    Advice to Management

    Take your moral obligation to staff seriously


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  5. "Transition"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Contractor - Anonymous Contractor in London, England (UK)
    Current Contractor - Anonymous Contractor in London, England (UK)
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I have been working at Credit Suisse as a contractor (More than 5 years)

    Pros

    Benefits of working in a large bank anywhere. Generally decent if not terribly useful people in many areas.

    Cons

    Endless cost cutting and reorganization mean that the organization suffers from fatigue and confusion.

    Advice to Management

    Provide some consistency so that the bank can eventually return to the growth mode that was promised.


  6. "Not a company to work as contract"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Senior Management
    Former Contractor - Anonymous Contractor in London, England (UK)
    Former Contractor - Anonymous Contractor in London, England (UK)
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Credit Suisse as a contractor (Less than a year)

    Pros

    They have huge building in Canary Whaf. Nice building facilities. You can find most of necessary thing after to pay for it

    Cons

    No a Employee friends company.
    They treat you like machine and use you fully
    Once their work is done they thought you out on same day
    Their is no proper management in company. Permanent employee does not work and they push everything its like double work.
    If any thing goes wrong if also its manager issue then they push it to contractor as its their mistake.

    Advice to Management

    You have a big company and you management at lower level is worst.


  7. Helpful (4)

    "Downhill"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President in London, England (UK)
    Current Employee - Vice President in London, England (UK)
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Credit Suisse full-time (More than 5 years)

    Pros

    CS has nicer than average people
    The bank has a good skill pool in front office

    Cons

    CS has a culture of indecision and procrastination
    It is managed by ageing management for the benefit of ageing management
    Revenues keep falling, even on strong markets, as risk aversion stifles business
    Also compliance is applied there with a view that if the regulator wants 100 CS wants 150, not only does this create costs, delays and paperwork but it is a significant handicap vs competitors who simply respect present laws and regulations instead of trying to go further than everyone else (which no one pays for)
    London is a cash cow office, where compensation is held back to pay for the army of people who work less employed in Zurich
    Finally CS is handicapped by FX and continuous fines paid for past misdeeds in private bank but whose burden is shouldered by present employees in other divisions
    Avoid CS in general, London in particular

    Advice to Management

    Resign, Let fresh people try
    If not, then please look up vision and clarity and make use of those attributes


  8. "Inadequate infrastructure, passive management"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Risk Analyst in London, England (UK)
    Former Employee - Risk Analyst in London, England (UK)
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Credit Suisse full-time (More than a year)

    Pros

    - if you are from Oz, this is the place to be: Aussies everywhere
    - good gym and restaurant
    - in close proximity to competitors

    Cons

    - lack of interest in risk, markets and regulation beyond narrow confines of department
    - large number of contractors, results in lack of ownership and constant changes
    - extremely poor IT infrastructure, results in unreliable data and poor image
    - lack of development and networking opportunities

    Advice to Management

    Do what you are supposed to be doing: manage and develop systems and people.


  9. "Culture gone wrong"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Vice President in London, England (UK)
    Former Employee - Vice President in London, England (UK)
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Credit Suisse full-time (More than 5 years)

    Pros

    Possible global network and opportunities in a well established company. Pockets of talent exist in most centres and one could say that improvement is possible.

    Cons

    Culture gone wrong over time with too many old hands left in the company which cannot be removed. No intercompany cooperation exist.

    Advice to Management

    Create workgroups to eliminate inter-company cannibalism


  10. "Not a pro-active and dynamic place to work"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Executive Director in London, England (UK)
    Former Employee - Executive Director in London, England (UK)
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Credit Suisse full-time (More than a year)

    Pros

    Very few! I guess they have a stable capital base from the private banking side.

    Cons

    Bloated, inefficient and sub-optimal institution


  11. Helpful (2)

    "A place to learn"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Director in London, England (UK)
    Current Employee - Director in London, England (UK)
    Doesn't Recommend
    Disapproves of CEO

    Pros

    This is a very good place to learn the different aspects of teh world of finances. People are friendly and helpful.

    Cons

    Long hours seems to be the norm, with typical 50+ hours a week in the office. The atmosphere is quite competitive and promotion is not based in meritocracy

    Advice to Management

    Communicate better the goals the different units within the organisation are trying to achieve. More visibility of senior management woudl help.


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