I have worked at Citi and another top US bank (XYZ) and can say that XYZ's employees are miles ahead. Most of my colleagues at Citi (middle office) can barely speak English, the emails and documents they write are borderline readable and sometimes I think I work at the Minions factory. At best, Citi's front office employees are on par with XYZ's middle/back office. As for Citi's middle/back office, let's just say that 10 employees could not see an additional zero when they wired 900mln to Revlon creditors...
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Everyone seems to be forgetting that in August 2020 TEN, 10 Citi geniuses, 10 pairs of eyes looked at the US$900 Million wire transfer form BEFORE the free money was erroneously wired to Revlon's creditors. Citi was and is the laughing stock joke "bank" that gave away almost US$ One Billion Dollars! LOL! Of course, if that $900 Million was wired to my bank account, even as Severance, it would NOT be an error. I myself will volunteer to be Laidoff. LOL !
Years of heavy outsourcing, coupled with aging, in house technology, have hobbled Citi. There is a never-ending cycle of expense cuts vs. investing to fix past problems. Citi's reputation makes it difficult to attract talent.
If you just joined, don’t expect so huge package come time for layoffs
yeah just wait it out and let them lay you off. make sure you get that big layoff package and obviously turn down other offers in the meantime because the layoff package is so good.
ok, i guess this make sense
Technically, I joined on a much higher base salary plus I wanted to switch what I do. And regarding quitting, yes I am thinking about that for the past year or so, maybe now is the time. Tbh, I had my doubts during the interview process, by seeing my boss and teammates but as I said, I wanted to get a salary bump because of the inflation plus change what I do. It wasn't the smartest decisions in my life, but still it is a good thing to put on the CV...
It's easier said than done to just leave Citi or another employer. Also, do Not quit. Let Citi pay you WARN money and severance since these hit the stock price of an already Dog stock. If Citi throws you under the bus and lays you off, F - Citi and further pull down its stock price. De@th by a thousand cuts for a zombie "bank" as Citi is De@d Man Walking.
To the original poster, why would you quit Bank XYZ and join Citi at the same or almost the same compensation ? That's sheer foolishness.
all these trash talk, if citi is so bad why not just leave….. why join?
I do not agree that money is the problem. I was hired on a similar total comp at Citi when I transferred from XYZ. The problem is the quality of the people - especially the management. But as we can see, these are going to stay and the brunt of the cuts will be borne by the minions at my level...
(“well that’s not my job” or “this isn’t my problem” ) attitude is in every company. The difference is in vision management.
As others have posted, Citi is Not profitable compared to JPMC, Goldman, Morgan Stanley and BofA. And so, Citi can Not afford to pay salaries and bonuses, and give promotions on par with its competitors. Hence, Citi ends up hiring mediocre to below average trash that those 4 competitors will Not hire or promote. Citi's closest peer is Wells Fargo. And we all know Wells Fargo has equally serous problems and dysfunctions like Citi. In 3 to 5 years Citi will be merged with JPMC or Wells.
The below comment is true but Citi is also not hiring appropriately…
They’re finding people who can’t do the jobs they were hired to do. look at the “experience insights & innovation” team in tech or the ATI team in USPBA or most of the reward card product managers.. Citi ventures too. SMH.
This tracks… sadly. :(
I’d like to think it’s bc the talent at Citi has poor leadership, isn’t held accountable and bc there is a culture of “well that’s not my job” or “this isn’t my problem” type behavior.