Nicholas Financial Reviews | Glassdoor

Nicholas Financial Reviews

Updated September 27, 2017
29 reviews

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2.4
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Nicholas Financial Chairman, President, and CEO Peter L. Vosotas
Peter L. Vosotas
15 Ratings

29 Employee Reviews

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  1. Helpful (1)

    "Branch Manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Nicholas Financial full-time

    Pros

    People, Business Contacts, Helping People

    Cons

    Pay, Bad incentives. Poor Bonus Structure

    Advice to Management

    Be more competitive


  2. Helpful (3)

    "cut the head off the snake!"

    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

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

    Pros

    It's close to home, and no weekends

    Cons

    I have worked with this company for several years, Things where great with the previous CEO Peter. Since he stepped down the current senior management in charge of sales and lending is running this company to the ground. He is Unqualified to be in his current position, and until he is ousted this company is going to continue to bleed out. The company continues to engage in predatory lending practices, writing unverified loans to people who could never afford them. The current CEO was ousted for shady behavior that the company is trying to cover up to protect its stock evaluation. As of October 1st the company will be operating with no CEO. and no prospects in the horizon. Its unfortunate that the next in line is the one and only running this company into the ground. Another issue is the fact that Nicholas Financial has been trying to operate without a trained H.R manager, so when issues arise, and they often do at Nicholas Financial you might want to talk to a lawyer before thinking about engaging H.R

    Advice to Management

    The only hope is that one of the new board members will see whats really going on and get rid of both the V.P's of the company, and get new leadership that can provide a clear vision for the company.

  3. Helpful (1)

    "Branch Manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Branch Manager in Clearwater, FL
    Current Employee - Branch Manager in Clearwater, FL
    Recommends
    Negative Outlook
    No opinion of CEO

    I have been working at Nicholas Financial full-time (More than a year)

    Pros

    Flexible schedule. Family friendly. Some room for advancement.

    Cons

    Long hours expected. No training program. No feedback from upper-management. Unrealistic goals that are not based on current local market conditions. High turnover. No 401k company match.

    Advice to Management

    Implement a true training program. Give ongoing feedback to branch employees. Bring back the 401k match.


  4. Helpful (1)

    "Not worth the hassle"

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

    I worked at Nicholas Financial full-time (More than 5 years)

    Pros

    Small Company, still feels family run

    Cons

    Too many to list here

    Advice to Management

    Keep your Promises to employees


  5. Helpful (2)

    "Don't waste your time"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - CONSUMER LOAN UNDERWRITER in Longwood, FL
    Former Employee - CONSUMER LOAN UNDERWRITER in Longwood, FL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Nicholas Financial full-time (More than 10 years)

    Pros

    Pay was OK. They finally got internet!

    Cons

    Where do I begin..The manager I had didn't know how to buy a deal if it slapped her in the face. She would find ways to " make a deal work" then hound the collectors because of bad deals. You've also got mangers, regional managers and corporate who are all on different pages. Everyone does stuff differently and it leads to mass confusion and mixed signals. These people don't know if they are coming or going. No training at all. Its a sink or swim situation. And don't ask for vacation time! And if you have kids or are pregnant this is not the place for you! You also are required to clean the office, bathrooms and take all trash out 9 mths pregnant or not. Insurance is expensive, no overtime. Most of the equipment they use is out dated ( dot matrix printers) . And it's like working in a high school with all the gossip.

    Advice to Management

    Get with it!! Learn how to buy deals. Train your staff. Don't tell your loan officers to buy deals that aren't within the company guidelines ex: telling loan officers to finance the unemployed, telling consumer loan officers to go to dealerships to get "small" deals when that's what indirect buying is for. Get on the same page as corporate.


  6. "Branch Manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I have been working at Nicholas Financial full-time (More than a year)

    Pros

    low pay, terrible bonus structure,

    Cons

    too many cutbacks on buying deals


  7. "corporate"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Nicholas Financial full-time (More than a year)

    Pros

    great company to work for

    Cons

    additional training needed for new hires

  8. "Branch Manager"

    StarStarStarStarStar
    Former Employee - Branch Manager in Marysville, OH
    Former Employee - Branch Manager in Marysville, OH

    I worked at Nicholas Financial (More than a year)

    Pros

    I cant think of any

    Cons

    They cant figure out what they want to do


  9. "Leadership"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Collector in Clearwater, FL
    Current Employee - Collector in Clearwater, FL
    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO

    I have been working at Nicholas Financial full-time

    Pros

    I guess small company, some nice people, a lot of food choices in the area and your by the beach. Not to much good i can say honestly.

    Cons

    Where do I begin, this is not the place if you are young and actually take your job seriously. The environment is toxic along with discriminatory, No real professionalism just a bunch of good old boys who have worked here to long. There can be no real growth here, working long hours being counter productive no true leader ship and constant change to see what sticks to the wall. Antique computer systems, unrealistic expectations, 0 communication. You will never be recognized for all the good you do but you will be reminded and told if you you mess up!

    Advice to Management

    Get training on how to motivate staff and create a good working environment, form actual training classes and forecast better, when dealing with new initiatives, HR should be more involved in the hiring process, new hire on boarding, this is utter mayhem it will have you stressed out and burnt out. Teach your manager how to tactful and professional, relax your dress code you don't deal with the public face to face.


  10. "My short stint at nicholas"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    Work independently selling sub-prime auto loans to dealerships

    Cons

    underwriting guidelines too strict to be competitive with other lenders


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