Citi - Toxic Culture, Selfish/Incompetent Managers, Promotion based on politics, social class and if you're a good looking girl | Glassdoor
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Helpful (8)

"Toxic Culture, Selfish/Incompetent Managers, Promotion based on politics, social class and if you're a good looking girl"

Star Star Star Star Star
  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Current Employee - Vice President in New York, NY
Current Employee - Vice President in New York, NY
Doesn't Recommend
Negative Outlook
Disapproves of CEO

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

Pros

Excellent Cafeteria/Clinic/Gym at 388 and so so benefits.

Cons

Almost Everything Else. This place has one of the most toxic corporate cultures I've ever seen with around 80-90% of employees dissatisfied with their jobs.

-Incompetent Senior Management; Senior management plays an annual game of musical chairs where they reshuffle/eliminate huge parts of the company instead of actually dealing with the real problems (kind of like demoing a building constantly instead of actually going in and making the necessary repairs) and in the process cause major disruptions to the functions of the company with any regard on how it actually impacts the operations of the company or the people employed. In many cases, they will come in with an exact opposite philosophy to that of their predecessor instead of establishing any sort of continuity. Not one project I've seen in my 10 years here has been driven to completion due to this constant half assing by Senior Management. This is not to mention that many of them happen to also be severe alcoholics that get wasted every day after work. Just visit one of the bars around Tribeca and you'll see them in droves downing cocktails and shots (while sloppily trying to hit on their female coworkers). The company is also highly bureaucratic with many layers of redundant management; what some of them do is an absolute mystery.

-Sociopathic/Selfish Managers: I've only ever had one good manager in my time here that actually continued to drive my learning progress and allowed me to learn more than my actual function required. The majority of managers behave like pimps and are very controlling and territorial and will attempt to limit your growth as much as possible so that you don't become a potential threat to them or eventually leave them. They will also use you to benefit themselves and screw you over when they don't need you. Performance Reviews are based on how much you get along with them and how much you are will to play along with their selfishly motivated agendas. Teams/Divisions operate more like rival street gangs/fiefdoms that constantly compete with each other and will do what benefits them first and foremost before putting the company's interest first. It's no wonder the company needed a bailout and failed 2 stress tests.

-Internal Mobility: This is pretty much an absolute joke. 99.9 %of internal positions are filled way before the job requisition hits the site. The hiring managers usually know who they want (based on politics & favoritism) and post the position up as a formality. HR is pretty much a useless and powerless function here that spews a bunch of politically correct jargon to make it appear like everything is fine and dandy.

-Promotion based on Meritocracy: Another major sham. Any attempt at even defending this is an absolute insult to the many hard working individuals that get screwed over year after year on promotions. The company has a created a culture where it's become almost mandatory for you to leave for another company every 3-4 years in order to get a decent raise. If you do end up getting lucky with an internal move, your move is deemed "lateral" usually and you won't get any raise in pay or title. There is also a HUGE pay/compensation gap between Front Office and Back Office employees with Back Office getting screwed most of the time.

The only REAL way to get promoted is if you come from a well off family that brings business to the company (like JP Morgan's Sons & Daughter's program) , have a father/uncle/boyfriend that works for a strong division and has a lot of pull with the hiring manager, or if you are a good looking girl that's willing to play eye candy (and possibly more) to fat middle aged sexually frustrated executives twice to three times your age. The latter is by far the quickest way to get promoted here. As a matter of fact, the higher up you go floor-wise at 388, the better looking the girls get (senior executives sit on the higher floors). I know a good looking girl that went from Analyst to VP in just one year and another that got hired as a VP with nothing but a degree in poetry and 0 experience in the financial industry.

Advice to Management

The Board of Directors need to fire all of senior management en masse and allow the employers that have put many years in the company and know what the hell their doing to actually run it.

Other Employee Reviews for Citi

  1. "Despite it's ups and downs, I had a terrific experience"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    Care about their employees
    Maintains focus on ethical behavior

    Cons

    Way too bureaucratic. However, with the issues with Banamex, I don't see that going away.

    Advice to Management

    Keep focus on transparency at all levels. Eliminate the bureaucracy


  2. Helpful (9)

    "Anti Money Laundering (AML) - HIGH turnover, HORRIBLE culture"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - AML Operations/Compliance Analyst in Tampa, FL
    Former Employee - AML Operations/Compliance Analyst in Tampa, FL
    Doesn't Recommend
    Disapproves of CEO

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

    Pros

    Work from home two days per week (used to be three, see below); some wonderful, intelligent and helpful coworkers; branded / known company name on your resume; at times, interesting work that you can see the implications of.

    Cons

    Please, do yourself a favor and read the reviews for the city / position of interest that you are considering; additionally, pay attention to the posting date and similar, highly positive reviews that should be read with caution (HR has been trying to change external opinions to try to recruit more people, as they can't keep up with the high turnover rate - hence, the use of so many recruiting / contract companies).

    Hiring Process: As many others have stated, get EVERYTHING in writing that you are told; ask deeper questions regarding the "bonus" / "merit pay increase" / benefits, etc...They are not as advertised by the internal recruiters. You WILL be working more than 40 hours per week, EVERY week, contrary to the "...on rare occasions you may have to work a couple of extra hours" that is told during the hiring process (as you will find out at the beginning of training when you start hearing and seeing the real hours).

    Culture and General Work: Very negative, depressing culture, from the top-down. I am a person who can find a positive in any situation, as are many great coworkers at CitiGroup, but after working 12-16 hour days and weekends (no overtime pay), and still being told by management that we aren't doing enough and need to work harder / faster, positives are hard to find; constant verbal threats about job security / performance plans, etc...without support or how they are going to fix the unreal work imbalance across the floor. After 1.5 years of working non-stop (including holidays from home), I had had enough and voluntarily resigned; I was the 29th person to do so in only 2 months! The Team Lead's will tell you how great you are doing on your cases and QA scores, etc...and then later that same day, tell you how you need to be doing more cases, although they know that you are putting in all of the extra hours and doing great work (?? - confusing, makes you feel defeated and frustrated? Yes!).

    Benefits / Pay: 20% below industry average pay and subpar benefits. Citi is an international, huge company, yet I the benefits were the worst that I had ever had working in various industries for 15+ years. Aside from the low pay, excessive hours and negative culture, plan for $82 - $98 to come out of your paycheck (for an individual) and still have to pay high deductibles / copays, for a healthy person.

    Advice to Management

    Care about your employees - respect employees at all times, verbally and non-verbally. You have / had some wonderful, intelligent, professional employees that you are losing faster than you can replace them due to the negative culture, low pay, hours that are required, threats from Team Lead's and not being honest with employees from the start of hiring to day-to-day operations.

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