A coworker is leaving WFC for good on Friday. He got a job at a local bank (as small as they come) but he got higher pay, bonuses, and from what I understand he has much better health insurance options. And here I was completely ignoring small banks in my job search... I know what I'm doing over the weekend.
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With the sale of Retirement to Principal, some people have migrated over there early. They are now poaching some of the talent they used to work with from here. I’ve been seeing a lot of good people leave over the last month and more are set to give notice.
I worked at two small banks and I will say that I enjoyed them much better than the larger banks. The culture and vibe were so much better and though they had layoffs,
they were not as frequent but, the pay was lousy .
I would love to get back into smaller banks but because of my role, they're not looking to hire as much. I guess it depends on where you live.
@skw+1bfHXCgJ Ditto. Better culture, less backstabbing, more opportunity to move around. Less bureaucracy but still big enough to build some capabilities in house, instead of mostly white labeling.
I looked at some very small banks too, but as someone else said some functions that had 200+ people at WF often have 5 at a small bank, and they can be lifers. So it can be hard to find an open req, depending on the role you are pursuing.
I guess I traded off worrying about layoffs, for possibly worrying about a merger… followed by a layoff. But I consider that to be a good trade.
Cool story...thanks for the update
Maybe for some LOBs, but in my role the small time operations don't employ many people doing what I do. I wouldn't be opposed to working at one, but I doubt that opportunity will come knocking.
Regional bank move here and can say the same. 100% better all around, especially culture and work/life balance.
Regional banks and credit unions