National City - Used to be a fine company | Glassdoor
There are newer employer reviews for National City
There are newer employer reviews for National City

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"Used to be a fine company"

Star Star Star Star Star
  • Work/Life Balance
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Current Employee - Business Analyst II
Current Employee - Business Analyst II
No opinion of CEO

Pros

Especially in I.S., many opportunities for a good salary without having to become a manager; however, there is very much a sense of being constrained by the way things have "always been done."

Cons

The biggest con is obvious to anyone who knows anything about the company -- you are nearly guaranteed to work in a department hit by layoffs in the next 2 years.

Advice to Management

It's been nearly 9 months since the acquisition was announced -- stop planning and talking about the need for communication and start actually communicating.

Other Employee Reviews for National City

  1. "NCC"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    No opinion of CEO

    Pros

    Decent pay, and good benefits for some job positions. They offer some good products, which makes it easier to sell.

    Cons

    Not very good communication between upper management and branches. Too much of a focus on selling, and sometimes can overlook customer needs

    Advice to Management

    Keep your employees more informed about decisions that are made, especially throughout mergers. My specific location has gone through 3 mergers in 6 years, and we really just want to know what is going on.


  2. "If you are a dishonest salesmen then you will do very very well!"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Licensed Financial Consultant
    Former Employee - Licensed Financial Consultant
    Doesn't Recommend
    Disapproves of CEO

    Pros

    They have great benefits. $1.15 for every dollar you put in with your 401(k). You will not get a match until you have been there for a year though. My base salary was pretty good. It was higher than all of the other offers I had. That is pretty much about it.

    Cons

    High turnover. Don't think that is a good thing. It is a bad thing. If people above you are quitting a lot then there is a reason for that. Very dishonest way of doing business. As an LFC they only let you sell two investment products: mutual funds and annuities. There are times that it is impossible to do what is right for the client. A lot of LFC would be dishonest and just put everyone into annuties because it pays the highest commission. I'll give you an example. If you get a 100k rollover and put them in mutual funds your revenue would be about $2500.00. If you put them into annuities then it is $5000.00. The first month I walked in the door my quota was $9000 in revenue a month. If you have been in the sales business before then you know how hard it is just to get a 100k rollover. So it is easy to slip into being dishonest and pressing annuities onto everyone even though a CD might be more appropriate.

    There are very dishonest people above you that will give you dishonest sales tactics. They will try to tell you to scare the customers about the FDIC and they will then feel frightened enough to buy an annuity. If you are a dishonest person then this is the right job for you. The average person makes about 43k a year. If you are super dishonest and very organized then you can make between 50 and 60k a year.

    Don't plan on moving up anytime soon. Once you are in this role you are pretty much stuck. The next promotion would be a retail financial advisor. They make the big bucks and don't do much work. Everytime an LFC makes a sale they make even more in commission. They make more than you do! They are supposed to be a support role. If you have a good one then great. If you have a bad one then you are screwed! These people make a lot of money so there is very little turnover unlike all of the other positions at NCC. You have to wait until that one person retires or dies before you get to move up. Then you have to compete with a bunch of other dishonest LFCs that have been racking up the revenue by selling annuities to people that don't even understand them.

    Advice to Management

    Let the LFCs sell more than just annuities and mutual funds. It is impossible to do what is right for the client. If someone is selling annuities to everyone that walks in the door then they need to be looked at close to see what kind of sales practices they are using. $9000 in revenue each month is way too high when you first walk in the door.

There are newer employer reviews for National City
There are newer employer reviews for National City

See Most Recent

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