Commonwealth Bank of Australia United States of America Reviews

Pros

Great benefits package, flexible work life balance, good people overall

Cons

The executive team sucks! Compensation is extremely low and not at market value, employees are treated based on likes (it’s truly a political game), no real room for growth, you’re often demoted and there’s nothing you can do about it. The bonuses are the worse, never seen anything like it. They sell you on the fact that it’s a great company but it isn’t they work you like a dog. You’re often given short notice to work on projects and told to get it done right away then penalized when it’s not done in a timely fashion. Do yourself a favor a look elsewhere for employment this place sucks!

Pros

To make money for my future

Cons

I don't have any downward

Pros

You can learn a lot and apply what you've learned in new roles or in new jobs outside the bank.

Cons

Business tries to focus on people and capability but spends much of its efforts on the Eastern seaboard staff members.

Pros

The hours in most functions are not too bad. Nice enough people on the trading desks/in support functions.

Cons

The culture is toxic and by far the worst that I have seen or heard of at any other bank. Everyone wants to leave, but CBA's poor reputation (not even third tier) and the market conditions make it difficult to find a new job in the same field. The company knows this and in turn lowballs bonuses thinking if people leave of their own volition, they wont have to pay severance and if they stay, the company gets away with not paying them. Most employees hired here have either been laid off and out of a job for a while or need to be incentivized by a sign on bonus to join from some place else. Additionally, the bank is run by salespeople and management consultants (politics prevails over commercial sense) with little knowledge about the businesses they run. Many of the senior salespeople cannot sell and never get fired because they kiss up to the right managers abroad. They are the only ones in the group who also have access to management in Sydney. As a result, whatever they say is blindly accepted and not questioned at all. Big mistake... Also, this is the absolute worst place for young people (under 35yo) who are hungry to work and develop their careers. Their managers will yank a new account from them to claim the revenue under their own name and will not promote anyone past Associate Director level. If someone starts asking for more responsibilities/their own accounts, their managers start making up complaints about their performance and try to push them out of the company. As a result, every single mid-level employee over the past four years has been either let go or convinced to leave.

Pros

Strong client culture, great people IT is a massive driver of value esp in Retail Bank Super Compliant / Rule following company Strong product set with deep capability and industry insight High ROE and profitability

Cons

Home office bias is very strong Not the fastest $100 Bn dollar, AAA rated bank The promise of unique big data at fingertips remains out of grip