Fifth Third Reviews | Glassdoor

Fifth Third Reviews

Updated August 17, 2017
1,387 reviews

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3.4
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Fifth Third President & CEO Greg D. Carmichael
Greg D. Carmichael
156 Ratings

1,387 Employee Reviews

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Pros
Cons
  • Difficult work life balance when working in a branch (in 31 reviews)

  • Sometimes, Upper management felt a need for constant conference calls to monitor sales/profitability/marketing efforts (in 66 reviews)

More Pros and Cons

  1. "Run Away!"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Mortgage Underwriter in Cincinnati, OH
    Former Employee - Mortgage Underwriter in Cincinnati, OH
    Doesn't Recommend
    Disapproves of CEO

    Pros

    The employees are the only reason why you would even consider staying.

    Cons

    Working 70 hours per week, 6 to 7 days per week is very common. Management threatens employees with layoffs if monthly goals are not met. Management making poor business decisions by overriding the underwriters and allowing risky loans to close. This is a "Lean Six Sigma" company but quality is not part of the equation! "Lean Six Sigma" promotes an atmosphere that encourages fraudulent activity from employees who receive significant commission or bonus income.

    Advice to Management

    Stop hiding behind your closed office door. Spend a few minutes each week with employees to find out about their concerns. Keep an open mind. Take a stand against fraudulent activity.


  2. "Disfunction at the top trickles down to all levels."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Portfolio Manager X in Indianapolis, IN
    Current Employee - Portfolio Manager X in Indianapolis, IN
    Doesn't Recommend
    Disapproves of CEO

    Pros

    If you enjoy typical banking occupations, you'll find work you like here, with compensation at market levels.

    Cons

    Executive management is reactive, not strategic. No sense of direction or goals, results in constant special projects and fire drills, even after adjusting for the industry's current woes. These can greatly interfere with doing what you were hired (or seek) to do to demonstrate excellence in your occupation and advance professionally.

    Advice to Management

    We're stuck in the middle...too big to easily be bought and too small to achieve. Drop the home-grown software and tools in favor of cheaper off-the-shelf services that are easier to learn and support. Let people do their jobs and the need for fire drills will fall off. Oh, wait...that would require the confidence in your planning to stick to decisions for longer than a quarter at a time.

  3. Helpful (3)

    "Stay away, far away!"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Analyst in Cincinnati, OH
    Current Employee - Analyst in Cincinnati, OH
    Doesn't Recommend
    No opinion of CEO

    Pros

    Large company, some opportunity to advance within the company. Bank surviving despite poor economy.

    Cons

    Management has no respect for its employees. Treats employees very poorly and doesn't communicate well. Extremely stressful work environment. The bank is being hit hard by the bad economy, causing layoffs. Management treats employees as far inferior and doesn't provide much recognition when job is done well. Direct management is not fair and not honest. Majority of management does not take time to get to know their employees personally and understand issues that may be going on in their personal lives.

    Advice to Management

    Be more respectful of direct reports. Let employees review their direct managers as part of yearly performance reviews and factor into the manager's review and rate increase. Be more proactive with employee engagement and require all types of managers to attend training to work on their tactfulness. Only put people in management who are personable and have respect. Offer employees a means to anonymously offer praise or critism of their managers and follow up on major concerns.


  4. Helpful (2)

    "Watch Out"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Customer Service Representative in Charlotte, NC
    Former Employee - Senior Customer Service Representative in Charlotte, NC
    Doesn't Recommend
    No opinion of CEO

    Pros

    A paycheck...the people that I worked w/ were great it's just upsetting how the company conducts itself

    Cons

    Required to do certain tasks that you aren't trained do to but expected to soar w/ flying colors

    Advice to Management

    Care more about your employees and not your customers


  5. Helpful (2)

    "NIGHTMARE!"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Accounting in Cincinnati, OH
    Former Employee - Accounting in Cincinnati, OH
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Some very talented people come into the organization and try very hard to make a difference. Unfortunately, they don't normally last very long.

    Cons

    Overall, a very tough place to work. The outdated 1980's strategy of trying to cut costs to the bare minimum (i.e. screw the rank & file employee) while demanding strong internal revenue growth, fueled by overpaying for acquisitions is just not working anymore. Who wants to work ungodly hours with unreasonable expectations only to get below "cost of living" reviews year after year while the incompetent executive scumbags walk away with all the money & stock awards.

    Management at all levels is filled with yes men and empty suits. Turn-over is unbelievable. If you are a new employee, expect to last no more than a year. The back-stabbing politicians that survive are normally a large number of 20-something know-it-alls in management positions that they are not qualified or ready for, but, hey, they work cheap.

    In Cincy, everyone seems to know someone who is an "ex-fifth third employee" and 99% of them despise the place.

    Advice to Management

    Sell before you actually do go under.


  6. Helpful (1)

    "A Revolving Door for Employees."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Client Specialist in Grand Rapids, MI
    Former Employee - Client Specialist in Grand Rapids, MI
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Fifth Third hires talented people on the sales and service level.

    Cons

    There is a revolving door for employees, as the new hires become increasing frustrated to try to navigate between managers competing for power, lack of communications, and inconsistant decision making. Working within, the goals and mission were in constant flux, and reorganizations of the working model seemed to occur around every 5 or 6 months. This placed employees in the position of having to meet with clients regularly to explain why there were new employee departures, and how their services would change once again. Employee morale was very poor, and there was an overall lack of confidence in the managers (both regional and national). For example, the large losses incurred within the organization by investment of corporate funds into the Falcon Fund is one example of how managers are burning away their credibility with the employees. I could never go anywhere within western Michigan and get a favorable reaction when I told individuals in the public where I worked.

    Advice to Management

    Balance the emphasis on sales with a concern for service. Consider the potential impact on the clients before making changes. Find line managers with integrity, and give them the authority to make changes.


  7. Helpful (2)

    "A busy branch is the place to be, otherwise you will be on the phone constantly trying to drum up business."

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Personal Banker in Libertyville, IL
    Current Employee - Personal Banker in Libertyville, IL
    Doesn't Recommend
    No opinion of CEO

    Pros

    - Many open opportunities to advance within the company
    - Branches with heavy foot traffic quite easily meet their sales goals (judged on a points system)

    Cons

    - Very aggressive sales environment, more concerned with numbers than finding appropriate products for customer needs
    - Micro-management - multiple conference calls throughout the day to report production and points (not "what have you done for me lately?" but "what have you done for me in the last four hours?")
    - Lack of training - bankers only complete one week of teller training before they are sent to their branch and are expected to sell, so unless there is an experienced individual in the branch you will flounder until you teach yourself
    - The many opportunities for advancement seem to come from the high turnover rate

    Advice to Management

    - Try to evaluate why there is high turnover in certain locations. The company would save a lot of money on training and turnover if they were able to keep some of the quality people who leave before they've established themselves and solidified their customer base. The high turnover also negatively impacts the customer perception of Fifth Third resulting in low customer loyalty and trust.
    - Please develop a more thorough training program. Even individuals with previous banking and sales experience need to learn about Fifth Third's specific products and guidelines before being able to sell well.

  8. Helpful (2)

    "Foreign Exchange Trading Floor - 3rd floor of small tower"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - FX Trade Support Analyst I in Cincinnati, OH
    Former Employee - FX Trade Support Analyst I in Cincinnati, OH
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Free downtown parking on the weekends and weeknights.

    Cons

    Very political, aggressive, and bias. Full of sharks and supports aggressive corporate culture.

    Advice to Management

    In order to produce a positive and effective working morale, the organizational culture and work environment needs to be positive. By always promoting sales and increasing revenues while minimizing costs, the environment effects employees and becomes resentful towards the company.


  9. "Poor"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Charge-Off Specialist in Chicago, IL
    Former Employee - Charge-Off Specialist in Chicago, IL
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Health benefits.
    Not much else really comes to mind.

    Cons

    Incompetent management.
    Retail sales are too aggressive resulting in many charge-offs.
    Sales people are encouraged to sell to ANYONE! Without effectively evaluating risks.

    Advice to Management

    Conmsider risks before simply opening accounts frivolously in order to meet your goals.


  10. "DON'T BOTHER"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Personal Banker in Tampa, FL
    Former Employee - Personal Banker in Tampa, FL
    Doesn't Recommend
    Approves of CEO

    Pros

    Newer offices, great staff at the branch levels, very nice people in the training department, awesome ceo at the affiliate level.

    Cons

    Upper management is ridiculous (particularily the regional managers). My former regional thought excel spreadsheets and conference calls were more important than sales and results.

    Advice to Management

    Get rid of most of the regionals. Promote from within instead of hiring other banks' rejects all the time. Get more modern.


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