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What people are saying about Scotiabank
14 days ago
Hello everyone!! Hope you’re all doing great! I need some advice on how to get an associate or any analyst role in Asset management/PE/HF/IB. I am 23 I work as a financial advisor at Scotiabank besides that I am also studying BBA in finance and about to graduate in April 2024. I plan to do my Masters in finance either in US or Canada after I graduate and then apply for jobs, would that be a better idea to stand out ?are there any suggestions to leave retail banking and get into corporate roles
The Work-Life Bowl
8 months ago
Hi guys I really need your help! I been working as a fraud analyst @ CIBC for the last 3 months, prior to that I was working as a fraud analyst @ scotiabank. Currently my shift at CIBC is really messed up, I really just want to work a Monday - Friday 9-5 job. Does anyone have any advice on what field I should enter with my current experience? I have a bachelors of Commer degree as well, technology management major.
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Top Review Highlights by Sentiment
Excerpts from user reviews, not authored by Glassdoor
- "Good benefit for medical and dental" (in 706 reviews)
- "People are great and helpful" (in 532 reviews)
- "Social Work and Work Life Balance is good" (in 388 reviews)
- "Team and culture is good" (in 344 reviews)
- "Well structured IT teams gives great avenue for IT professionals to explore and diversify their career." (in 220 reviews)
- "low pay and increase are low" (in 354 reviews)
- "the basic salary is low and stressful" (in 346 reviews)
- "poor management and just a mediocre company to work for" (in 332 reviews)
- "Stressful environment with no training whatsoever" (in 131 reviews)
- "long hours and lots of weekends/overtime to finish deals that isn't compensated or recognized." (in 113 reviews)
Ratings by Demographics
This rating reflects the overall rating of Scotiabank and is not affected by filters.
Reviews about "team"Return to all Reviews
- 4.0Jul 25, 2022Financial AdvisorFormer Employee, more than 8 years
Great organization to work for, a company that provides such high quality products and services, technology and vision. Provided your direct leader is reasonable.
Such unrealistic goals and pressure tactics sometimes used by upper and middle management towards the front line team members. I can only hope there's been change.
- 4.0Aug 17, 2019Technical Project CoordinatorFormer Contractor, less than 1 yearToronto, ON
Well structured IT teams gives great avenue for IT professionals to explore and diversify their career.
Nothing special to point out in this place. As any other workplace you may come across not so good Managers.
- 4.0Dec 4, 2016Anonymous EmployeeCurrent Employee
I'm lucky to be working in a branch with a really motivated team and good bosses.
The company is going through a transition and that sometimes makes for seemingly odd campaigns.
- 5.0Sept 15, 2022Anonymous InternCurrent Intern, less than 1 year
The culture at Scotiabank values your opinion and makes you feel like you're part of a team
I've had a great internship experience at the organization
- 1.0Jun 18, 2021Customer Care AdvisorCurrent Employee, more than 1 yearScarborough, ON
-You get 3 weeks paid vacation -The medical benefits are pretty good.
I'm going to make this as objective as possible. I'm not sure what aspect of this job is the worst but overall, it's pretty terrible from top to bottom. The salaries are so low it's pathetic. The recruiter that hired me was gracious enough to start my wage at 19.74/h and after a year of employment, I got a raise of 7 cents per hour. It isn't just customer service reps that don't get paid well, it's everybody underneath directors. When I say everybody, I mean literally everybody. Analysts clear a little under $1500 bi-weekly, HR recruiters make roughly 60-63k/year and that's an entry level position that commands years of experience and a high level of education to get into. For reference, the person that hired me has a masters degree in HR, has almost 4 years of recruiting experience and makes 60,995/year. Any HR position available in the government, big pharma, or the tech industry pays a 60% premium on these roles. Unless you get into IT at Scotia, just don't bother. The wages are terrible. Getting promoted is exceedingly difficult. If you're unlucky enough to get hired in the contact centre, management will move you around, keep your wage the same and give you more responsibility. This phrase is said so often it's just a cliché but it's true: 'it's not what you know it's who you know'. The end game is extracting the most amount of work from people while keeping the costs as low as possible. Scotiabank is the Nike factory of banks. Customer service, revolving credit, consultant roles (essentially supervisors), loans department and collections are all outsourced roles spread across Colombia, Mexico, and the Dominican Republic. Management...I don't even seriously know where to start. There are roughly 9 managers on the floor at the campus I work out of and 2 of them are good, helpful people. The rest micromanage their teams to the point where staff is just discouraged and have crippled morale. How many times per week can a person be spoken to about how many literal seconds they were in aftercall work prior to taking their break? This is the reality of working at scotiabank in the capacity I work in as a customer service rep; right now, I'm supposed to be working but I called in sick. I hate everything about my job. I don't have a single colleague that likes their job here, and I've only spoken to one person that is satisfied in their current role who also coincidentally told me that 'it's not what you know, it's who you know'. I had the pleasure of speaking to him while I was reversing an NSF fee he was charged. If you can avoid Scotia, then do so. Actually, if you can avoid working any entry level position in any bank, then avoid it. They're all trash. When I say 'entry level' I mean anything from business analyst, HR recruiter, but ESPECIALLY customer service.1
- 4.0Dec 31, 2020Senior ManagerCurrent EmployeeCalgary, AB
Overall one of the better top 5 banks in Canada. Lots of talent pool here
Unfair behaviour amongst the team Current group lead has no people skills and takes credit for his team and never recognizes anyone
- 1.0Jan 31, 2022Collateral Analyst/OfficerCurrent Employee, more than 1 yearToronto, ON
Learn softwares, get exposure to the collateral and bank processes
Toxic managers who literally put you down and curse at you. Upper level management does not care about staff complaints. Managers in the collateral team are liars and do not look out for the best in their colleagues. They only care about themselves. Many long dedicated workers are underpaid compared to new hires. Managers have favourites - people who are similar to them.2
- 2.0Feb 9, 2022Financial AdvisorFormer Employee, more than 3 yearsToronto, ON
My team was awesome and probably the only reason i stayed as long as i did.
Executives do not care about branches, branches will stop career growth to benefit themselves giving false information during interviews.2
- 5.0May 16, 2018Anonymous InternFormer Intern, less than 1 yearToronto, ON
Team was supportive and stepped up to develop my skills when I stepped up asking for more complex projects.
Nothing to note. Had a really positive experience.
- 4.0Feb 17, 2021AnalystFormer Intern, less than 1 yearToronto, ON
Had good hours working in conjunction with the financial markets. The team was also very welcoming and more than happy to help/answer any questions.
Not much room to grow within the division and lacks the ability to move laterally into other areas of the bank.