Barclays - Antiquated Systems, Massive Bureaucracy, Intensely Political | Glassdoor

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"Antiquated Systems, Massive Bureaucracy, Intensely Political"

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  • Work/Life Balance
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Current Employee - Vice President in London, England (UK)
Current Employee - Vice President in London, England (UK)
Disapproves of CEO

Pros

1. Great brand recognition.
2. Possibilities with BarCap.
3. Geographical spread.
4. If you are "favoured" progression can be swift and renumeration deep.

Cons

1. Intensely political - be prepared! There are practically internal political parties in this business!
2. Massively bloated with administrative employees and bureaucratic systems - as a result it takes ages to get anything done
3. No accountability - people get away with things here that would get you fired in a properly run business. Passing the buck is an Olympic sport here.
4. Management is too remote and obsessively focused on navel gazing activity which only serves to make them feel like they are doing something.
5. Short termist outlook - management is focused on the next promotion, their next payout and not on the long term things necessary to make the business succeed.
6. Demigod complex - senior management (and their lackeys) act like they are a superior form of life - and any interaction with them or involving them must be sanitised, cleansed and processed to be deemed worthy.
7. Compensation - Don't believe the hype - the comp is horrible and well below market competitors - that's why there is massive turnover in all sections - especially HR.

Advice to Management

1. Actually care about the business you are building - some face time with your subordinates and producers within the business will not impede your next pay round.
2. Fight the flab - you can safely eliminate 50% of the administrative staff and free up producer time by implementing systems and process that actually work. This would massively reduce bureaucracy and internal politics.
3. Share the wealth - we have to take the flack of "barclays paying huge bonuses" but you get 90% of the "funds set aside for the bonus pool." Spread it around a little and you have happier workers, less turnover.
4. Embed accountability - if people make mistakes that cost the business and client's money, they should be appropriately dealt with, not molly coddled.

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