The PrivateBank Reviews | Glassdoor

The PrivateBank Reviews

Updated September 6, 2017
44 reviews

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3.2
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Larry Richman
23 Ratings

44 Employee Reviews

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Pros
  • great culture, great work-life balance (in 6 reviews)

  • good benefits, company match 401k, decent pay (in 3 reviews)

Cons
  • Uncertainty due to CIBC acquisition makes job security a little scary (in 2 reviews)

  • There are layers upon layers of management, Middle Management and Associates are not given tools to make decisions on the operations side (in 2 reviews)

More Pros and Cons

  1. "Terrific culture"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Managing Director in Chicago, IL
    Current Employee - Managing Director in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at The PrivateBank full-time (More than 10 years)

    Pros

    Family friendly
    Incredible hard working co workers
    Fast paced
    Strong management
    Growth company
    Client focused
    Flexible work options
    Interesting place to be

    Cons

    Uncertainty due to CIBC acquisition makes job security a little scary. Management is older and will be replaced in next three years.

    The PrivateBank Response

    Sep 8, 2017 – CHRO

    Thanks so much for your positive comments; I'm glad that you find this to be a great place to work as that's our intention. We know that in times of change there can be uncertainty and as you've... More


  2. Helpful (4)

    "Internal Audit"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Chicago, IL
    Current Employee - Anonymous Employee in Chicago, IL
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I have been working at The PrivateBank full-time (Less than a year)

    Pros

    Trainings are offered and supported; Staff is given generous bonuses.

    Cons

    Disappointing attempt to cultivate a team oriented Internal Audit culture by ex-Big Four task delegators. Public accounting hours are expected but not communicated or rewarded.

    Advice to Management

    As majority of the auditor to manager level staff is miserable after completing 16 audits in 7 weeks and are actively interviewing internally and externally, it would be advised for Senior Managers to start focusing on raising the extremely low and quite negative team morale.

  3. "Not a bad place if you like a set in by 8am out by 5pm career"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at The PrivateBank full-time

    Pros

    The bank is committed to community outreach which is a major plus. They serve a diverse set of communities and partner with some great organizations, to help spread financial literacy and just lend a caring hand.

    Cons

    Due to the hands on approach of the bank there is not much opportunity to work remotely.

    Advice to Management

    Lean more toward flex time. It will help keep employees from feeling burned out.

    The PrivateBank Response

    Sep 8, 2017 – CHRO

    Thanks so much for your feedback. Being of service to those in the communities where we live and work is key to who we are as an organization. We've received numerous awards for our work and we're... More


  4. Helpful (4)

    "Lack of diversity"

    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 The PrivateBank full-time

    Pros

    Good work-life balance.
    relaxed environment

    Cons

    if you are a person of color, just stay away


  5. "Senior loan processor"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior LoanProcesso in Chicago, IL
    Current Employee - Senior LoanProcesso in Chicago, IL
    Recommends
    Neutral Outlook
    No opinion of CEO

    I have been working at The PrivateBank full-time (Less than a year)

    Pros

    good benefits, company match 401k, decent pay

    Cons

    there is a gap between management and employees

    The PrivateBank Response

    Jul 19, 2017 – CHRO

    Thanks so much for taking the time to write a review. I'm glad that you feel that we're offering good benefits; our goal is to provide total rewards that support our employees' well-being.

    As an... More


  6. Helpful (16)

    ""Stay Away From Internal Audit...""

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Internal Auditor in Chicago, IL
    Former Employee - Internal Auditor in Chicago, IL
    Doesn't Recommend
    Negative Outlook

    I worked at The PrivateBank full-time (Less than a year)

    Pros

    You get a paycheck and benefits.

    Cons

    By far, the worst career decision I have ever made. Very dysfunctional and unethical culture. The managers consisted of the most incompetent, inept, and ignorant group of child robots I have ever worked with. Instead of building a respectable internal audit program; the managers are too busy gossiping, social networking, and playing Candy Crush. Along with their lack of intellectual capacity, there is a lack of maturity, integrity, honesty, transparency, accountability, and structure. Unfortunately, I had a very similar experience as another reviewer on this site. Not only did I refuse to partake in an unethical act against a fellow colleague, but I called them out on it. For doing the right thing, I was rewarded with harassment and ostracism. Which included backdated performance evaluations filled with lies. HR was not much better because they allowed this unacceptable behavior.

    Advice to Management

    I am a huge proponent of education and training, unfortunately, you can’t fix character flaws and stupidity.

    The PrivateBank Response

    Jul 19, 2017 – CHRO

    This is a highly unusual experience here at The PrivateBank. We take acting with integrity very seriously and our employees have rated this very highly (at least 90% favorable) in our last three... More


  7. Helpful (6)

    "Finance"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Analyst in Chicago, IL
    Former Employee - Financial Analyst in Chicago, IL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Hired quickly. Short time from call to offer, and offer to start. Gave a positive outlook at interview of position.

    Cons

    Found out company sold after I got there. Basically this is a temp job.
    Old tech. Very old tech. Before my time tech.
    Difficult orientation to systems. Unreliable systems.
    No resources being used to update tech.
    Uncertain outlook.

  8. Helpful (4)

    "Stay Away"

    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 The PrivateBank full-time (More than a year)

    Pros

    Reasonable work-life balance and decent pay.

    Cons

    Working at this place was one of the most disappointing experiences of my life. I was on the client-facing side of business. The lack of internal urgency was mind-numbing, only further exacerbated by direct managers who did not seem to care or take the time to be engaged. Way too out of touch to make a meaningful impact. Internal communication was terrible and management demonstrated a LIFO (last in, first out) approach to many situations - especially tough ones (if at all). I would never recommend this place to anyone and I am truly sorry that I invested years of my professional life working at this place.


  9. "Good atmosphere"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at The PrivateBank (Less than a year)

    Pros

    Good pay and work life balance

    Cons

    Slow moving and short on resources


  10. "Standard Employer"

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

    I have been working at The PrivateBank full-time (More than 8 years)

    Pros

    Been there awhile, built great experience, but have outgrown. Good culture, and like any company it depends who you work for and the network you have. Good opportunity to move around laterally, but difficult to break into manager role. Good benefits

    Cons

    Dysfunctional, many managers with no business being managers, few leaders who mentor. Compensation is lagging, but could be because I have been there too long

    Advice to Management

    Restructure the organization and re-evaluate employees in positions. To many chiefs, not enough Indians


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