I hear different experiences. Some who leave become happier, healthier and wealthier. On the other hand, some say that they did not make any significant progress by leaving. I hear more and more such experiences, that the grass isn't much greener on the other side. It all depends on someone’s priorities. Is there more disadvantages to working in banking in general today, or has Truist become a particularly degraded workplace?
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@1qio+1gdJc09T, I believe your post is spot-on. I thought the combination was weird to begin with, two dinosaurs trying to mate to stave off extinction.
I also thought what a massive failure for both corporate boards, to let two CEOs who are generations behind current technological thinking make this type of deal. The only chance for either bank was to pair up with a fintech/tech giant, but when you are a hammer (or a 70-year-old country banker), every problem is a nail.
Went to BB&T from Fortune 100 tech company. Lasted a few years. About a year after the Truist merger/announcement, I bounced. Left banking, never going back. It was far too depressing. It was what I imagined working in a rural DMV office in the 1970s was like.
Banking (in the US) is going through a major transformation. Truist is in survival-mode. It will continue to exist in the future but as a mere shadow of it's former self(s). It is a slow decline to niche mediocrity from here on out.
It depends on management and upper management. I was happy with my decision to leave a community bank and worked for a company that paid well and gave a bonus. I worked for SunTrust for 9 Years and had a very effective manager who managed the workflow and balanced our team well. Then merger happened and BBT turned something’s upside down then forced the team to break up and managers left or “retired” then everyone was overworked the teams unbalanced and we’d have to pivot as people started leaving. In the end you don’t leav companies you leave management.
All financial institutions can be tough at times, but Truist ranks solidly at the bottom of all the financial institutions I have ever worked. I consider things like: i) management support / trustworthiness, ii) teamwork, and iii) job security.
To me those are the most important factors for a happy working environment, and Truist is comically bad on all three. I have not spoken to one individual that has regretted leaving Truist. In fact, the sentiment I hear most often is that it actually feels weird to have a management team that actually appreciates you…