Scotiabank FAQ

Have questions about working at Scotiabank? Read answers to frequently asked questions to help you make a choice before applying to a job or accepting a job offer.

Whether it's about compensation and benefits, culture and diversity, or you're curious to know more about the work environment, find out from employees what it's like to work at Scotiabank.

All answers shown come directly from Scotiabank Reviews and are not edited or altered.

53 English questions out of 53

September 28, 2020

What is health insurance like at Scotiabank?

Pros

health insurance and stuff benefits are good

Cons

work pressures a little high

health insurance and stuff benefits are good

September 28, 2020

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April 16, 2020

Does Scotiabank offer disability insurance?

Pros

customer relationships, helping them buy a house, save for a trip, buy a car, save for retirement.

Cons

Favouritism, Management passing their client's work to staff with an already excessive work load. Staff are told they have poor time management skills when they try to get relief from their supervisor. Power struggles between the managers/supervisors of different departments. Blatant prejudice against gays, lesbians, & obese ppl. Cruelty towards staff on short, or long term disability not discouraged, & often displayed by Managers. Management breeds an environment of competition, rarely teamwork. Customer's importance is based on their portfolio of products/dollar amounts vs long term loyalty. Staff Loyalty not valued.

Advice to Management

Managers don't have to like an Employee; if the customers love them & they do their jobs, that matters most, they should be professional enough to separate the two. The customer is not a bunch of numbers, & they are not stupid, they can figure out when they are being talked down to. When an annual review by employees show extreme problems with Management, don't fire, transfer, & in general instill fear among your employees. Objectively look at yourselves & make the necessary changes where possible.

Cruelty towards staff on short, or long term disability not discouraged, & often displayed by Managers.

April 16, 2020

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June 14, 2020

What is the retirement plan like at Scotiabank?

Pros

Been working for around 2 years as a customer service rep. Hours are decent, colleagues are fantastic. The Aim is for a 4% bonus, 60% bank match on share purchases, pension is decent for a defined contribution plan; If you pay in 4%, scotia will match 4% and pay another 5% on top. Benefits par for the course

Cons

Technology and some processes incredibly out of date. Fed up of telling customers who come in to the branch to call the call centre for help. Should be able to do more in branch.

Advice to Management

Hire more colleagues at the call centre so a customer coming in looking for help doesn’t to wait 30-40 mins for a colleague in branch to get through. A small investment will make a HUGE difference to customer satisfaction

The Aim is for a 4% bonus, 60% bank match on share purchases, pension is decent for a defined contribution plan; If you pay in 4%, scotia will match 4% and pay another 5% on top.

June 14, 2020

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September 24, 2019

Does Scotiabank offer dental insurance?

Pros

- Decent salary and bonus - Good dental and health plan - Great location on King and Yonge - Great work/life balance - Good coworkers

Cons

- Super Siloed - Communication walls between lines of business - A big disconnect between strategy and architects on the ground

Advice to Management

Change the bank from the top. Siloed thinking is counterproductive.

Good dental and health plan

September 24, 2019

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July 14, 2020

Does Scotiabank have a pension plan?

Pros

Great benefits, pension and great start for any career.

Cons

low salary, hard to move up in the company.

Great benefits, pension and great start for any career.

July 14, 2020

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53 English questions out of 53