Now you see it....now you don't! - Anonymous employee Visa Inc. Employee Review

Perhaps the biggest Con comes from events of this week. While headed into a historically busy peak season, the company suddenly announced that it will be freezing the pension plan as of the end of 2015. This came timed just after the announcement to buy Visa Europe yet before compensation discussions. This was communicated in a couple of paragraphs in the lower portion of a running-on benefits update e-mail. Obviously, the intent was to not call too much attention to this major change, but instead resulted in a huge backlash from the majority of employees. Productivity was killed and left most wondering what the longer-term goals really are. The company will hold the money, “earning interest”, until we leave or retire. No rolling it to another plan for better growth. No additional contribution to 401’s to make up for the substantial cut. No alternative. Other cons: Promotions happen only once per year, just like Santa Claus. You can forget about being promoted off-cycle, and the promotions that are available seem to be reserved for favorites who spent the entire year producing only the most vivid PowerPoint presentations. There are some talented and motivated employees that are itching to do some great things, but people are kept in the trenches for years doing the same job. They are kept just enough out of visibility so that existing “leadership" can continue to flourish. Diversity is a joke, it seems that the one-hour presentation is done because it has to be as part of the HR script. You hope your colleagues and staff stick around, since the hiring process is arduous and complicated, requiring no less than seven interviews fully documented and two degrees from a short list of only the best schools for an entry-level position. The hiring process has essentially created an unnecessary popularity contest, overlooking some extremely talented individuals. It just doesn't work for all roles.