Scotiabank - Not the best place to work | Glassdoor
There are newer employer reviews for Scotiabank
There are newer employer reviews for Scotiabank

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Helpful (5)

"Not the best place to work"

StarStarStarStarStar
  • Work/Life Balance
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Former Employee - Anonymous Employee in Toronto, ON (Canada)
Former Employee - Anonymous Employee in Toronto, ON (Canada)
Doesn't Recommend
No opinion of CEO

Pros

Very good benefits, decent compensation

Cons

Management plays favourites, promotions are based on how much your immediate manager likes you.

Other Employee Reviews for Scotiabank

  1. Helpful (8)

    "Just like any other Canadian bank"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Information Security Expert in Toronto, ON (Canada)
    Current Employee - Information Security Expert in Toronto, ON (Canada)
    Recommends
    No opinion of CEO

    Pros

    Good benefits
    Salary
    Pension
    4 weeks vacation if you are a level 7 employee and above
    3 personal days to use as you please
    5 sick days
    Performance bonus can be very significant (level 7 can get10%, level 8 is 12%, and level 9 at 17%)
    Some travel depending on the department, sometimes in business class if you are lucky

    Cons

    Authoritarian hierarchy (with some caste system overtones). Basically the bank maintains a strict pyramid organization
    Strict and literal enforcement of procedures, policies, and standards
    "Master and Commander" management styles that stifle diversity and discourage individuality
    Conforming workforce with no interest in innovation, continuous improvement, or anything different (sometimes the staff is identical to an union or bureaucracy)
    Only chance to get a promotion to a level 8 or 9 is "wait in line" for 10 years until a seat becomes available - seniority rules in this place
    People who play golf with the boss (and let him win) get the best, high profile projects or assignments
    This bank is full of "lifers" waiting for retirement: low vitality, low energy, no time for new ideas

    Advice to Management

    What advice? This is a very profitable business, so they are not going to change anything ("if it's not broken..."). One issue is the many managers that are going to retire soon. Something has to be done to promote people based on merits, and not the time spent at a desk, so the next wave of managers are better than the previous one..


  2. "It was a great learning experience for the first few months."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Business Analyst II in Toronto, ON (Canada)
    Former Employee - Business Analyst II in Toronto, ON (Canada)
    Recommends
    Approves of CEO

    Pros

    Good organization culture and team work in some departments.

    Cons

    Not clear on some policies for example promotions within certain teams.

    Advice to Management

    Listen more to employees and understand what they do.

There are newer employer reviews for Scotiabank
There are newer employer reviews for Scotiabank

See Most Recent

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