I just came from another fintech layoff and looking at a US Bank position which sounds interesting. From looking at this website, it sounds like the company could be in a similar mess. Is that the consensus here? Is joining a bad idea, are benefits ok?
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Most banks are in trouble and are a mess. Regulations make it worse because it's almost impossible to fix all the things needed due to increased overhead. It's a death spiral.
Don’t do it. Speaking as a current employee. Pay is one of the lowest and no Im not saying that because Im bitter. It’s the truth. They do not like to promote employee growth. Culture is toxic. You would regret working here.
At USB, there will never be a day where you go home and think, I am appreciated for my skills and work ethic. There is always way too much work, you never get caught up, and plenty of complaints from management. This bank specializes in criticizing their workforce. In place of Monday morning management quarter backing, they have 5 day a week second guessing from people that have never accomplished anything in their working careers. Your co-workers will all be beaten down and depressing to work with. Everyone is looking for an exit strategy.
I wouldn't if I was you. Us Bank has a tendency to of putting the employee at the absolute lowest point. They are open Christmas Eve and New years eve when other banks observe those holidays for Christmas and New years day. Don't walk away run away.
@1nyl+1eqOppyV - You are so wrong to recommend Fiserv (1st Data) - what a screwed up outfit. Run away from them. The CEO is a flake. That's where I was removed from because I work remotely-benefit going away.
If you work in technology, USB offers only the oldest possible options that will never further your career. It will be pasted together with band-aids and rubber bands with absolutely no plan or design for modernization. USB never invests in people or modernization of their systems. They just keep squeezing, for the very last drop of juice. Any of the other companies listed in this thread invest in their systems, have a system design, and standards. USB offers none of this.
If you have other options, your best bet is to interview with them.
In my opinion if you are looking to do payments, I'd go to Fiserv, FIS or Global Payments were the payments business lines are run by leadership which has vast and deep experience in the payments space, U.S. Banks runs its payments business line with bankers not payments people, leadership which in my opinion is poorly suited to the business they are charged with, resulting in zero investment in the technology, infrastructure or operation of the payments business, creating a sluggish, constantly underperforming segment, which has several open leadership positions, a constantly changing leadership team and self imposed ceilings and limits because it's run like a bank, not a technology rich payments company.
Look for work elsewhere. Many companies are in need of good workers right now, don't SETTLE on US Bank. US Bank is a terrible place. Wages and compensation will suck once they lure you in. Management is beyond horrible and it's truly starts with the CEO Cecere and permeates throughout the company. Read other postings on this site, it's explained well. As to the Payments area mentioned in this thread.....it too is horrible top to bottom....no different than the rest of the company, I know this first hand.
Personally speaking benefits could be better. 2% merit is too low and constant cut backs/ layoffs are nerve wracking even in payments.
Yes, please don’t listen to a small group of unhappy people. US Bank is a great place to work.
You mentioned coming from a Fintech, which could mean you're looking at a job in the payments group within U.S. Bank. This area is so different from most of the bank that about 60% of the company's employees don't even know what they do, despite 30% of revenue coming from this area. I'd suggest ignoring any comments you get on personnel or culture, because you just don't know if it would be relevant to the job. If comments come in about salaries or policies, then feel free to listen. Personally, as someone from a payments business line, I'd recommend applying/interviewing if the pay is adequate for you.