Terrible medical benefits compared to legacy Union bank . It’s like taking a paycut AGAIN . Lower base salary, lower pension contributions and cheap medical plan. Plus Misleading employee banking benefits. Why on earth would I want to stay with a company that nickel and dimes you! Planning to leave soon.
19 replies (most recent on top)
Don’t forget the sweetheart deal with UHG limiting employee health care options to secure their banking business. This is reciprocity at its worst.
@3bnl+1qrj4iyd - well this shows the industry knowledge of US Bank employees. Look at all the Japanese banks that had US retail businesses. They all got out but 1 Sumitomo. They made a low cost acquisition via Mfg. Bank for digital online only. MUFG has shrunk their consumer business everywhere but in SE Asia. There are your facts. As for the Reg issues , yes there were reg issues that they were working thru just like any of the banks . UB as still making money. I would agree they tried to sell their way out of the reg issues. But maybe USB folks need to take a more global view of things if they want to play with the big boys and girls .
Job hopping evens the playing field for any industry. Otherwise these companies will give you 2.5% every year if you had a good performance review. All the while, inflation was raging at 8-9% last year and if the government was being truthful, inflation felt more like 20%.
Job hopping is not without risks, so it’s a personal decision if it’s right for you.
Yes, U.S. Bank‘s benefits are terrible compared to Union Bank’s. Stay if you must have a job. As soon as you’re able, leave. For goodness sakes, they don’t even offer coffee for their employees. Not a big deal, just goes to show how stingy U.S. Bank is. Bare minimum benefits.
Truth is no one seems to measure up to the U.S. Bank standards, PIP or not. Perhaps the problem is theirs, not the Union Bank employees. I mean Union Bank was profitable and existed for a long time. Same with the client acquisitions through this purchase. I wonder if the Union Bank clients will stay with U.S. Bank. Short term maybe.
Keep drinking US Bank cool aid 😈
I'm 65 and currently employed at U.S. Bank.
I have my health insurance through the Bank.
That is not true about us bank not letting 65 year olds sign up for insurance and tells them to go on Medicare! In fact I believe that would be illegal. If you think there is better quit and go find it.
US bank is a commodity based employee and treats their employees as such. Union bank was a value based employer. They were treated well even during layoffs. Everything about US bank is terrible ! If you or your spouse turn 65 they won’t even give you medical insurance and tell you to get on Medicare .
20% of workforce on PIP? Really? No one in my group (30 people) is on a PIP. I think the person who posted that comment must be in some malcontent business line or simply making that up. I doubt 2% of employees are on PIP.
If you are on a PIP, they have targeted you for being fired. You need to immediately start looking for a job.
Too many employees are on performance improvement plans these days at U.S. Bank to reduce overall staff. At least 20% of USB’s entire workforce is on one and you’re guaranteed to be on one shortly. Good luck and get out of this low grade never growing institution! Best decision of your life if you ask me. That’s why I’m leaving this Dump Institution soon Too!!!
To whoever posted this
Then leave, they could pay higher benefits as that’s where they put their money Vs. into system upgrade's. That is why they sold, they fell so far behind and had consent orders from the feds to fix the issue the only way out was to sell
Actually , while they had reg issues, not all of it applied to UnionBank . But the big reason to sell was that MUFG wanted to get out of retail banking in the US, it’s not their strong suit. Investment and commercial investment is bigger for them. So please look at the bigger picture to take in all data points.
@1bcm+1qrj4iyd - (last comment) You make zero sense and making up information without facts .
Then leave, they could pay higher benefits as that’s where they put their money Vs. into system upgrade's. That is why they sold, they fell so far behind and had consent orders from the feds to fix the issue the only way out was to sell.
I think it depends on if you have a family or not. People with kids tend to have lots of medical expenses. If you are healthy and single the high deductible HSA accounts are great. HSA is the only way to get a tax deduction when saving and not have a tax hit when spending.
The best thing to do about healthcare is not get sick. Obviously there is nothing you can do about some things like cancer or inherited things but keeping in good shape is the best thing you can do for yourself. Working out every day will save most people lots of money over a lifetime.
Job hopping is the only way to significantly increase your pay. Staying at one place will get you 2.5% per year and maybe 5% in years you are promoted. Some technical people see 40% raises going to another company. You can later come back and you will keep the 40% raise. Of course, few ever come back.
Employees who stay with the same company more than 3 years do not increase their overall compensation. Saying from experience and there is a lot of research out there. Don’t stick around to get that stupid retirement. You can make much more by moving around especially if you are below 55.
Grass may be greener on the other side . But it may not always be the same type of grass . If those are the only reasons that are making you want to jump ship then congratulations you are one of the fewer and fewer that likes their job at US Bank. Decide what is important then if jumping the fence is the answer, good luck.