EBRD Reviews | Glassdoor

EBRD Reviews

Updated September 25, 2017
37 reviews

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3.0
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EBRD President Suma Chakrabarti
Suma Chakrabarti
12 Ratings

37 Employee Reviews

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Pros
Cons
  • Senior management does not have a clear vision about the Bank's future (in 14 reviews)

  • Slow career progression, absence of recognition for high performers, slow deal approval cycle, lost vision of the mandate (in 9 reviews)

More Pros and Cons

  1. Helpful (2)

    "Good, for a short period of time"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Neutral Outlook
    Disapproves of CEO

    I worked at EBRD full-time

    Pros

    - Interesting job as it involves a wide array of diverse tasks.
    - Strong international exposure
    - Generous training offered
    - Enjoyable working environment
    - Good working hours.
    - Good office restaurant (Mozart)
    - Generous pension and health care, as well as a 10% "flex allowance".

    Cons

    - A work experience at EBRD may reduce employability outside EBRD;
    - Base tax-free salary is lower than at other banks, as EBRD's salaries do take into account the fact that employees don't pay taxes. So, at the end of the day, employees should essentially receive the same take-home pay as elsewhere, if not less (!);
    - Modest bonuses: 0-15% of base salary;
    - When looking for a mortgage, most UK mortgage providers will be able to offer only a small mortgage amount, as a result of the lower tax-free base salary (EBRD does not offer mortgages to its employees);
    - Currently, most job offers are for short term contract. However, it's quite frequent to see contracts being either extended or converted into permanent position;
    - Promotion discussions and decisions do not always favor the most hard-working staff.
    - Every now and then, expect some "political" decisions, which equate to poor business decision-making, , as a result of political representation on the Board, and in the shareholding of EBRD.


  2. Helpful (2)

    "Work Hard but not well paid."

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

    I have been working at EBRD full-time (More than a year)

    Pros

    Good resume builder. Smart people.

    Cons

    Poor management. Not well paid considering the complexity of the projects and volume.

    Advice to Management

    Listen to staff.

  3. Helpful (2)

    "Once upon a time it was the best Bank ..."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Banking in London, England (UK)
    Former Employee - Banking in London, England (UK)
    Negative Outlook
    Disapproves of CEO

    I worked at EBRD full-time (More than 10 years)

    Pros

    The multicultural staff and management.
    Best benefits, Christmas parties for children and Cultural events for all.

    Cons

    The head count is actively reduced. The remaining team members expected to deliver more with less.


  4. Helpful (1)

    "Intern"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Intern - Intern in London, England (UK)
    Former Intern - Intern in London, England (UK)
    Recommends
    Neutral Outlook
    No opinion of CEO

    I worked at EBRD as an intern (Less than a year)

    Pros

    Great Location and nice people.

    Cons

    Office politics!
    Traditional approach to work
    Outdated methods put into use
    Behind at integrating new technology at work

    Advice to Management

    Invest in developing young talent.


  5. Helpful (7)

    "No transparency, too top heavy"

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

    I have been working at EBRD full-time (More than 10 years)

    Pros

    Lots of lovely and interesting people. Good quality of work.

    Cons

    Lovely people are all stuck in the middle. Organisation structure is an inverse pyramid. Some teams think it's ok to appoint a senior position rather than having a competitive selection process.

    Advice to Management

    Reduce the number of top managers


  6. Helpful (4)

    "It could be a great place"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - London in London, England (UK)
    Current Employee - London in London, England (UK)
    Recommends
    Negative Outlook
    No opinion of CEO

    I have been working at EBRD full-time

    Pros

    - great mission
    - multicultural environment

    Cons

    - longer serving staff are disillusioned and demotivated due to lack of direction or action from senior management
    - top heavy
    - talent get wasted as there are no real development or training opportunities in the long term
    - some people get jobs without having the relevant skills

    Advice to Management

    - Get some fresh blood and let the frustrated oldies go
    - Make the Associate Directors do some work for their money
    - Emphasize that behavior does matter


  7. Helpful (1)

    "Senior Officer"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in London, England (UK)
    Current Employee - Anonymous Employee in London, England (UK)
    No opinion of CEO

    I have been working at EBRD full-time (More than a year)

    Pros

    Diversity, be able to take decisions yourself without having to escalate it. Benefits

    Cons

    It is very difficult to be promoted unless you change departments. This makes the development very difficult which can be frustrating for young professionals. Old fashion and not forward thinking

    Advice to Management

    Invest in the young talents, who have a lot to offer, instead of benefitting the senior management, who lacks of ideas, initiative and forward-thinking

  8. Helpful (8)

    "Used to be a great institution but not any more..."

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

    I have been working at EBRD full-time

    Pros

    - Smart, experienced and well-educated people;
    - International setting with many interesting projects;
    - Job security - it is difficult to get fired if you have a permanent contact;

    Cons

    - Obsolete mission and purpose. The Bank was created in the 1990s to support the transition from centrally planned to market-based economies in post-communist country. This is no longer a relevant mission for many of the countries, in which the Bank operates. EBRD should reform itself to stay relevant!
    - Senior management does not have a clear vision about the Bank's future. President is more skilled politics than running a business enterprise;
    - Huge bureaucracy, which causes slow decision-making and makes the institution inefficient;
    - Many important decisions are influence by internal politics, which makes the overall decision-making non-transparent;
    - Centralised decision-making. Resident office has no freedom to make independent decision;
    - Salaries are average, not great. Salary increases are meagre even when you get promoted.

    Advice to Management

    - Define a reform strategy with clear, practical objectives so that EBRD becomes a more flexible, market-oriented institution.
    - Be prepared to take more risk when financing projects;
    - Decentralise - give more decision-making authorities to the resident offices;
    - Link salaries to individual performance;
    - Reduce the number of senior staff. Promote people on the basis of their qualities and contribution, not politics.


  9. Helpful (4)

    "EBRd"

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

    I have been working at EBRD full-time (More than a year)

    Pros

    Interesting projects and good exposure

    Cons

    Bureaucratic and slow, culture weights you down


  10. Helpful (1)

    "Does what it says on the tin"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Analyst
    Current Employee - Analyst
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at EBRD full-time

    Pros

    Sense of stability, exposure to interesting and unique projects, opportunities to work with diverse counterparties such as government entities, ministries, investment funds etc. A lot of support for staff, including visa help, subsidies etc, even despite the recent scaling down of such initiatives.

    Cons

    At times and especially with sovereign projects, the work is at times unfulfilling due to the constant impression that the Bank's input cannot influence much - often, there is lack of political will to carry out serious reform on the part of governments. Also, the culture within teams is often such that there is "competition" for projects, i.e. you have to work hard to be taken on to work on more prestigious projects - in most companies, work comes straight to you.

    The Bank often strays away from its mandate to deliver economic transition - across teams, there is a chase for business volume towards the end of each year, sometimes at a cost of inadequately prepared projects.

    Advice to Management

    Expand on the current mobility programme, ensure the support of the staff is maintained - otherwise staff morale may suffer due to the reasons described in the section "Cons" above.


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