Scotiabank Reviews | Glassdoor

Scotiabank Reviews

Updated May 18, 2017
189 reviews

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2.0
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Scotiabank President and CEO Brian J. Porter
Brian J. Porter
61 Ratings

189 Employee Reviews

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Pros
Cons
  • unable to strike a good work life balance (in 47 reviews)

  • No centralized process for Co-op students to apply internally for Full time jobs (in 27 reviews)

More Pros and Cons

  1. Helpful (3)

    "Unjust Termination Practices"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Contractor - Analyst in New York, NY
    Former Contractor - Analyst in New York, NY
    Doesn't Recommend
    Neutral Outlook

    I worked at Scotiabank as a contractor (Less than a year)

    Pros

    In general there is good morale among employees

    Cons

    Misguided and under-informed management when dealing with general practices of regulatory issues.

    Advice to Management

    Consider all manners of employment contracts and give grounded and proven reasons before termination


  2. Helpful (1)

    "I've worked 3 years at Scotiabank"

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

    I have been working at Scotiabank full-time (More than 3 years)

    Pros

    Good work life balance. Great clients to work with. Excellent peers and internal staff to work with. Really just enjoyable day in and day out.

    Cons

    Downsizing in the US. Company has no interest in the US and is fading away fast. Last two years have been spent worrying about when the company is pulling out of the US.

    Advice to Management

    It's time to stop repeating the bank is Canadian's most International Bank. Besides Canada and Mexico the bank is sporadically located.


  3. "One big pro, several cons, look elsewhere"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in New York, NY
    Former Employee - Anonymous Employee in New York, NY
    Doesn't Recommend
    Positive Outlook

    I worked at Scotiabank full-time (More than a year)

    Pros

    - The work life balance is unreal
    -Relaxed environment

    Cons

    -Pay is definitely not competitive with the market, raises are joke
    -You notice people do not get promoted, lateral moves are very rare and management sometimes prevents these moves
    -Technology is horrible, systems are antiquated
    -Sometimes too relaxed an environment
    -Lack of cross training
    -Lots of office politics
    -Functions and departments keep getting move back to Canada


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  5. "Avoid if you can"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY
    Doesn't Recommend
    Disapproves of CEO

    Pros

    - Work life balance
    - Low stress
    - Capital markets are the only area in the bank that's being invested in, however the business is stifled (see cons)

    Cons

    - Pay below market
    - Outdated managerial practices
    - Conservative approach to doing business
    - Uncompetitive vs. US banks
    - US Corporate bank in decline
    - Low employee morale

    Advice to Management

    Comp fairly.


  6. Helpful (3)

    "Top tier Canadian Bank - bottom tier US/Global bank"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Associate Director in New York, NY
    Current Employee - Associate Director in New York, NY
    Doesn't Recommend
    Disapproves of CEO

    Pros

    great work life balance (no weekends, very rarely late nights)
    good place to learn efficiency/cost reductions
    recently purchased a commodity trading team from UBS, rates trading unit too - took advantage of US bank environment over past year to snatch up competitors

    Cons

    inverted pyramid - a lot of chiefs running around, very few junior staff to develop and support
    poor technology (since its a Canadian bank, its IT is similar to US co's 10+ years ago)
    very small platform in US, so hard to cross sell and generate corporate interest
    lack of investment on corporate banking side - 4 years ago 46% investment grade, now 80+% investment grade clients; lots of layoffs in NYC, San Fran, Chicago, and more to come!?
    Very few resources compared to competitors - embarrassing on pitches to see co's reaction to lack of analysis compared to other large firms

    Advice to Management

    invest in technology, junior staff, and infrastructure in US...plus pay in line with US banks in the US


  7. Helpful (5)

    "Stay away from the Call Centre"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Customer Service Officer
    Former Employee - Customer Service Officer
    Doesn't Recommend

    I worked at Scotiabank full-time (More than a year)

    Pros

    The people I worked with (not managers) were great. They made a very stressful work environment easier with jokes and snacks.

    The applause points you receive from team challenges, positive reviews etc. are great, you can cash them in for gift cards or products. (I got a lot of movie passes and a hairdryer)

    They give you benefits from day one of training! I got new glasses in my 2nd week of training.

    Cons

    The job is super stressful! Call after call with angry customers threatening/yelling at you because of someone else's mistake (usually the branch) that you can't fix.

    Working weekends means that nothing you do for the customer will actually process that day as it takes 2-3 business days. When the branch messes up they have no accountability and it can count as a negative review for you.

    Micro managers that harass you over your stats even when you are making the stats! What's the point of making the stats if you still get harassed about it?

    Advice to Management

    More training is needed, especially for the centres in South America. More accountability for the branch when they make mistakes.


  8. Helpful (11)

    "various"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend

    Pros

    Since you are constantly shifted from one position to another you learn from several areas within the financial institution.

    Cons

    Some of the department heads made decisions without considering their staff. Pay not commensurate to workload and responsibilities.

    Advice to Management

    Be Emphatic, considerate and listen to the needs of your employees. A Happy and Satisfied employee will constantly exceed goals. No family-work balance. Review salaries.


  9. Helpful (1)

    "cash management"

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

    Pros

    fair benefits, great environment to work

    Cons

    systems are real bad and old


  10. Helpful (2)

    "Associate Director - Corporate Banking"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Neutral Outlook

    I worked at Scotiabank full-time

    Pros

    Work - Life balance and great colleagues.

    Cons

    Limited resources in the U.S.


  11. "Something needs to change"

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

    I have been working at Scotiabank as a contractor

    Pros

    Work with some great people, Annual incentive pay is a plus. Decent benefits and pension.

    Cons

    Seems that the company is more interested in making money than supporting their employees. Extensive change is occurring and little support is given to staff during this time. Pays low considering work expected.

    Advice to Management

    Provide staff with more support during times of change. Work to boost employee morale if you want to see less turnover.


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