Virgin Money FAQ

All answers shown come directly from Virgin Money Reviews and are not edited or altered.

22 English questions out of 22

2 August 2018

Does Virgin Money have a pension plan?

Pros

Good pay package and excellent benefits including on site gym and physio, good pension with employee putting in upto 12% for your 6%, cycle to work scheme, etc. Flexible working VS working from home available.

Cons

All up in the air at the moment with the takeover.

Advice to Management

Get yourselves a good package and head elsewhere and let's see what the CYBG guys can do.

Good pay package and excellent benefits including on site gym and physio, good pension with employee putting in upto 12% for your 6%, cycle to work scheme, etc. Flexible working VS working from home available.

2 August 2018

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2 October 2019

Does Virgin Money offer parental leave?

Pros

*3 months fully paid parental leave for fathers (amazing) *Generous double matched pension - you pay 6% and employer pays 12% *Free Life & Sickness Insurance *27 days holiday + bank holidays + you can purchase a further 3 days

Cons

*37.5 hour week (should be 35 or less) *No company paid Xmas party *Poor bonus structure as of 2019 *Payscale takes too long to climb (typical rise is £400/£500 per year)

Advice to Management

Move to a 4 day working week which has been proven to boost staff engagement and productivity in recent studies. Drop the 37.5 hours to 35 (as a minimum) or less. Bring back a bonus scheme to strive for. Help newer colleagues to climb wage scale quicker - huge wages imbalance currently for persons in same roles. Keep supporting new parents.

*3 months fully paid parental leave for fathers (amazing)

2 October 2019

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26 September 2018

How are the career development opportunities at Virgin Money?

Pros

Great co-workers Decent work life balance - Very rarely work late nights/weekends

Cons

Processes lag miles behind other banks - what should take minutes can take days. Managers do not listen to feedback or suggestions on how to improve the processes. Unrealistic expectations on staff. Managers promote based on popularity rather than merit Training is non-existent. No real career progression opportunities.

Advice to Management

Learn to recognise the talent you have at your disposal. Many staff deserve an opportunity to prove themselves. You might see less people leave as a result!

No real career progression opportunities.

26 September 2018

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11 January 2019

What is the feeling of job security at Virgin Money?

Pros

A traditional bank that puts its customers first while embracing technology to change the way banking facilities are delivered. An appetite to really challenge the UK banking industry as demonstrated with its recent acquisition of Virgin Money

Cons

A fair bit of uncertainty around job security at present given the announcement of job losses at the time of the virgin acquisition

A fair bit of uncertainty around job security at present given the announcement of job losses at the time of the virgin acquisition

11 January 2019

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9 February 2020

How are senior leaders perceived at Virgin Money?

Pros

Good benefits package Competitive Salary Good work life balance

Cons

Lack of leadership Too political Micro management

Lack of leadership

9 February 2020

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22 English questions out of 22