First Republic Bank Reviews | Glassdoor

First Republic Bank Reviews

Updated July 20, 2017
227 reviews

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3.6
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First Republic Bank Chairman and CEO James H. Herbert II
James H. Herbert II
144 Ratings

227 Employee Reviews

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  1. Helpful (6)

    "A look back from a former analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Operations Associate in San Francisco, CA
    Former Employee - Operations Associate in San Francisco, CA
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at First Republic Bank full-time (More than a year)

    Pros

    Depending on your department, you could find nice people spread throughout. The Eagle Cafe was an affordable lunch.

    Cons

    -It may be the nature of financial institutions, but I always got the impression that you could get stabbed in the back or thrown under the bus by many, many sources in the company.

    -Serious separation of management from worker bees. You didn't know what was going to happen until it was happening.

    -Relentless demands with few resources and severely outdated technology.

    -Demands. Fire drills.

    Advice to Management

    Manage. Don't lock yourself away behind office doors and expect the ship to run smoothly without leadership


  2. Helpful (5)

    "Abusive, micromanaging, and ineffective management. Nepotism apparent throughout the corporate office..”"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in San Francisco, CA
    Former Employee - Anonymous Employee in San Francisco, CA
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    I worked at First Republic Bank full-time (More than a year)

    Pros

    Kaiser health plan is cheap as dirt
    3 weeks paid vacation after one year of work
    Discretionary bonuses approaching 6% of annual income
    Subsidized cafe with cheap meals

    Cons

    Abusive, threatening, and delusional management.
    HR is incapable of resolving issues.
    Many department heads are remnants of the small company that emerged in the 80s.
    Technology is far behind and bizarrely allocated.
    Lots of nepotism.
    Bureaucratic workplace.
    Promotions are often title based instead of income.
    Prepare for an annual wage increase that barely offsets inflation.
    Negative attitude and laziness of most employees.

    Advice to Management

    Accept advice of your junior employees

  3. Helpful (7)

    "Mismanagement of employees"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Business Analyst in San Francisco, CA
    Current Employee - Business Analyst in San Francisco, CA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at First Republic Bank full-time (Less than a year)

    Pros

    Company subsidized cafe. Depending on the team, friendly co-workers

    Cons

    IT is considered as a cost center and there is no a center for innovation. When you point this out to the management , they just keep procrastinating for updating technologies. The goals are always cutting cost. Every 6 months there is a re-org and email sent out to employees to quit at will with a 1 month salary as bonus. There are no long term goals or strategy for the dept. The Director of Enterprise Architecture interviews new employees and then never has time to meet/greet/and discuss what the new hires goals and objectives are for the company. He will meet you again on your last day.

    There is no work life balance AT ALL for new hires. If you object, raise a question you will be gone soon.

    They keep saying we are in a technical debt but they have 50+ applications which even the IT dept doesn't support and know off. Whoever has the money gets what they want without consulting anyone.

    Advice to Management

    The Management needs to change and be present for their employees. Set some department and employee level goals.


  4. Helpful (2)

    "Horrible people."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at First Republic Bank full-time

    Pros

    You are on your own.

    Cons

    You are on your own.

    Advice to Management

    Pay decent wages to rookies.


  5. Helpful (5)

    "Credit Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Credit Analyst in San Francisco, CA
    Former Employee - Credit Analyst in San Francisco, CA
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at First Republic Bank full-time (Less than a year)

    Pros

    Hard to admit, but none whatsoever.

    Cons

    Where do I begin: management is incompetent and does business based on some magical political formula. This of course creates an ugly environment at work in which in if you are bright and like to think and analyze matters, you will be shunned for those talents immediately.

    Advice to Management

    I couldn't possibly give any advice.


  6. Helpful (7)

    "Incompetence is tolerated"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Support Staff in San Francisco, CA
    Current Employee - Support Staff in San Francisco, CA
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I have been working at First Republic Bank full-time (More than 10 years)

    Pros

    Subsidized cafe
    Decent health and retirement benefits
    Excellent vacation and sick time

    Cons

    Middle managers are incompetent, and senior managers are in denial or choose to ignore the incompetence.
    Senior managers do not communicate with staff to get feedback on middle managers.
    Even though there are many complaints about an employee, the incompetence is tolerated and staff members suffer.
    There is always power struggles between middle managers between departments. As a result, staff operations are very chaotic.
    Org charts are not publicized per the CEO's mandate because he believes everyone should have an open door policy. Unfortunately, the organization has grown too much, and this policy is not realistic. Every department has an org chart anyway, and as mentioned, there is no open door policy. Senior Managers are not approachable to staff members.
    Sales people are king! Support staff (IT, operations, etc.) are not valued. There's always cost cutting efforts every 6 months to a year, and the support staff is always the focus of these efforts. In the meantime, sales people get ridiculous sales incentives on top of their already huge bonuses. The sales retreat is allotted hundreds of thousands of dollars annually, normally at a posh hotel for at least 2-3 days. Support staff retreat is a dinner and a show. Support staff bonuses are about half a percent at best. Not based on performance, but who the middle managers favor.
    Morale is very low among staff members, and nothing is being done.

    Advice to Management

    Please start having reviews for middle managers (Directors and VPs) from their directs and business partners. There is one particular VP and project manager (contractor), who are causing so much headache and grief to support staff (IT, Deposit Operations, their own business unit, etc). They are being tolerated, and everyone is suffering.
    Base bonuses on reviews and a standard scale, instead of the managers' discretion.
    Increase efforts on health initiatives. Offer discounted gym memberships, relaxation and stress reducing activities, promote a balanced work-family atmosphere. Happy employees are productive employees!


  7. Helpful (8)

    "The mismanagement of the Deposit Services area."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - CIF Specialist in San Francisco, CA
    Current Employee - CIF Specialist in San Francisco, CA
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at First Republic Bank full-time (More than 3 years)

    Pros

    First Republic has a great 401K retirement plan. The subsidized cafe is a fun perk. The company's intranet is a great resource for both researching polices and locating staff.

    Cons

    Deposit services function was to support various departments, branches, and clients. Those days are over. There is no team work as that is discouraged. If you did not come from Union Bank, then there will be no room for advancement. The accountability program implemented by the upper management is a sham. It is a very unhealthy place to work.

    Advice to Management

    Please look into why upper management needs to continually hire consultants and temps. They are constantly adding layers under themselves to try to protect themselves. As they get rid of staff who understood their jobs and the First Republic philosophy, the amount of fines will increase in dollar amounts as they disregard governmental regulations. I see a cease and desist order coming soon.

  8. Helpful (7)

    "Politics, politics, politics!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    Occasional company/department gatherings with free food and drinks.

    Excellent work schedule..you can come in anytime before 9 to work your 8 hrs.

    Cons

    Very cut throat and lots of politics. I've seen a manager get their department taken away from them while they were on vacation. You never know who's really your friend or is really there to sabotage your career.
    You can't voice your concerns or ask questions--you will face consequences if you do.

    Advice to Management

    No one ever seems to really know the policies and procedures. Everything is in the "gray area" and everyone seems to do things differently. They need to implement actual policies and procedures--so employees can finally stop playing the blame game when things go down.


  9. Helpful (8)

    "Terrible management style. Not an employee focused employer."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Product Management in San Francisco, CA
    Former Employee - Product Management in San Francisco, CA
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    Small enough to feel like your work makes an impact.

    Cons

    Ruthless management style. No appreciation for employees' hard work and devotion. Very mediocre benefits and compensation and zero career building/coaching etc.

    Advice to Management

    Employees matter as do your high net worth clientele.


  10. Helpful (7)

    "no room to grow, horrible management"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    subsidized cafeteria food. That's about it.

    Cons

    inexperienced, poor management. disgruntled workers. too much politics in the office. Non-progressive environment.
    solution to every problem either takes too long or never is seen through. No gratitude for employees' work. Bottlenecking middle management. Absolutely no career building, just lateral movement. hypocritical culture.

    Advice to Management

    invest in your employees as much as you do in your clients. you should enforce your open door policy. practice transparency.


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