Standard Chartered Bank
3.5 of 5 498 reviews
www.standardchartered.com London, United Kingdom 5000+ Employees

Standard Chartered Bank Reviews

Updated Apr 21, 2014
All Employees Current Employees Only

3.5 498 reviews

                             

91% Approve of the CEO

Standard Chartered Bank Group CEO Peter Sands

Peter Sands

(200 ratings)

78% of employees recommend this company to a friend
498 Employee Reviews
Relevance Date Rating
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Review Highlights

Pros:
  • "the Group itself creates a good campaign (work life balance, improve way of work)"
    in 43 reviews
  • "Cosmopolitan working environment with a strong allegiance towards controls and compliance"
    in 32 reviews
Cons:
  • "work life balance based upon projects"
    in 18 reviews
  • "There could be long working hours for some teams"
    in 13 reviews
  • Show more review highlights

Reviews

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  • Senior Management
         
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  • Approves of CEO

1 person found this helpful  

Intern

Project Finance (Former Employee)
London, England

I worked at Standard Chartered Bank as an intern for less than a year

ProsGreat culture,
 friendly people
Great food at subsidized prices!

Consalmost none. Although it was a little hard approaching senior management

Advice to Senior Managementkeep doing what you are doing

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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Very good.

Intern (Current Employee)
London, England

I have been working at Standard Chartered Bank as a contractor for less than a year

ProsProfessional workplace. Good and friendly people.

ConsWeak Training. No mentors offered.

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Very good

Anonymous Employee (Former Employee)

I worked at Standard Chartered Bank

Prosvery good bank to start your career with. Training provided is great.

Consif you want international transfer within the bank, it is not very easy

Yes, I would recommend this company to a friend

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Good exposure across the footprint of the network within the IG program

Associate Director (Former Employee)
London, England

I worked at Standard Chartered Bank full-time for more than 3 years

Pros- Good training for international graduates (IG)
- Emerging market based

Cons- Mixed culture due to large turnover
- Moderate brand recognition
- Compensation on par or below par

No, I would not recommend this company to a friend – I'm optimistic about the outlook for this company

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Good office, many opportunities, but poor management

FI OCC (Former Employee)
London, England

I worked at Standard Chartered Bank full-time for more than a year

Prosgood working hours..average to decent compensation

Consmanagement is very poor and sometimes not competent even in basic banking knowhow

Advice to Senior ManagementLearn more...atleast make an effort

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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Outstanding Firm performance, but lack of career prospects in uk

Anonymous Employee (Current Employee)

I have been working at Standard Chartered Bank

ProsGood culture and work life balance. Out their value and corporate value in very night priority

ConsOnly focused in Asia, particularly Singapore, hk, India and china. Good career prospective only if you are planning to be an expat

Yes, I would recommend this company to a friend

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Very mixed experience; loved some parts, hated others.

Anonymous Employee (Former Employee)
London, England

I worked at Standard Chartered Bank full-time for more than a year

ProsGreat work/life balance and philanthropic culture. SCB have a great work life balance, actively encouraging working from home, using all your holiday plus days out of the office volunteering.

ConsConsensus driven environment, difficult to get any major decisions made. Also takes an incredibly long time to make any changes at all. Seems to encourage forward thinking by hiring bright people, only to hinder them at every turn.

Advice to Senior ManagementEmpower people.

Yes, I would recommend this company to a friend

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  • Approves of CEO

 

Good bank to work For.

Anonymous Employee (Former Employee)

I worked at Standard Chartered Bank

ProsStable, with highly skilled employees

ConsLimited presence in Europe, most activities are based in Asia, Africa and Middle east

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Not good

Anonymous Employee (Former Employee)
London, England

I worked at Standard Chartered Bank as a contractor for less than a year

ProsSome people are great, nice offices in the City, good reputation especially in Asia.

A good focus on CSR and Peter Sands has managed to keep the Bank very profitable during recession.

ConsThe Bank communicates as being a caring employer but it is not. I was made lots of promises about being made permanent right to the end of my last contract then they got rid of me without any interest in the impact it had on me, just because it suited them. And very little notice too!

Fair enough when you are in banking: it's a heartless industry. But usually the package makes up for that. It's the not the case at the Bank as it underpays. Relocation to Singapore is an easy way to recruit and retain though as taxes are so low there, especially compared Western Europe. Be however careful that non-permanent residents and nationals get a mere 3% of additional of cash in lieu of employer pension contributions while the UK pension scheme is fairly good (10 to 14% contributions depending on age if I remember well and if the Bank has not made itself compliant with age-discrimination legislation since I left). The relocation package is a bare minimum too.

There is also a prudent approach to anything and a big culture of engagement and consensus. Good idea but it's taken to the extreme, up to the point of inefficiency. The decision-making process is very slow, if any decision is made at all. Projects are planned at the beginning of the year and there is no departing from those. There is no reward for addressing other matters that pop up in the year, leaving the Bank exposed to non-compliance. The "it's not my role" attitude doesn't help either.

Relationship-based business too. What it means in practice is that anyone who is part of the furniture will have more influence than a more recent recruit. Not very motivating.

Finally, hierarchy thrives at the SCB with a little caste system within it. The lower caste is grades 9 to 5 and the superior ones are in bands 4 to 1. This is to the point that people will talk of graded or banded employees.

Advice to Senior ManagementTreat your staff better. The economy will eventually pick up and the competition will suddenly become very attractive.

No, I would not recommend this company to a friend

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Worst company I've worked for

Anonymous Employee (Former Employee)

I worked at Standard Chartered Bank full-time for less than a year

ProsGood pay
Nice art throughout the London office

ConsEverything is outsourced to India (e.g. IT, HR, Payroll) so be prepared for some of the most frustrating conversations of your life! You have been warned.
Predominantly Asian in approach/culture - it is a British bank in name ONLY
Sprwaling organisation that has too large a global footprint to know what they are doing
Very high turnover in relation to new joiners

Advice to Senior ManagementYou know what the issues are so why not fix them..?

No, I would not recommend this company to a friend

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Glassdoor is your free inside look at Standard Chartered Bank reviews and ratings - including employee satisfaction and approval ratings for Standard Chartered Bank CEO Peter Sands. All 498 reviews are posted anonymously by Standard Chartered Bank employees.