Virgin Money Reviews

Updated 12 May 2021

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3.1
50%
Recommend to a Friend
79%
Approve of CEO
Virgin Money CEO David Duffy
David Duffy
44 Ratings
Pros
  • "compared to other banks they maintain a good work life balance(in 24 reviews)

  • "Good benefits, Nice colleagues, Overtime(in 21 reviews)

  • Cons
  • "sometimes communications from senior management could be done better(in 23 reviews)

  • "Career Progression opportunities if you based in the south as the hq is up north(in 13 reviews)

  • More Pros and Cons
    Pros & Cons are excerpts from user reviews. They are not authored by Glassdoor.
    1. 5.0
      Current Employee

      Excellent fun company - work hard but feel part of the business

      22 Mar 2021 - Bus Analyst in Chester, England, England
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Great conditions Colleagues all root for each other Good home/life balance

      Cons

      Can take a long time to make a decision Some people are very image conscious red tape with group for simple solutions

      1 person found this review helpful
    2. 3.0
      Former Employee, more than 5 years

      The "missing middle"

      12 May 2021 - Senior Manager in Gosforth, North East England, England, England
      Recommend
      CEO Approval
      Business Outlook

      Pros

      There are still a lot of great people working at VM, both from the heritage Virgin Money team (although these are diminishing by the day!) and the heritage Clydesdale side of things. The CEO has a clear vision and HR have been pretty good during the pandemic with both tech enablement and plenty of notice about how people will work in the future. The Gosforth office is nice with loads of facilities for runners / cyclists / gym goers (when we can return to the office!) with a decent enough canteen. Although the back end systems can be a bit antiquated the colleague facing stuff is pretty good.

      Cons

      Since the CYBG takeover - the senior management layer have been largely neglected with redundancies taking place at the levels above and a desire to reduce senior management population means there are few opportunities for SMs on £60-£90k to see a direction into 6 figures and a more senior role - there's simply no opportunity to do this anymore. The company more generally has an industry reputation for "paying low" There are lots of people feeling they have "run out of road" and are sadly having to look at opportunities elsewhere

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    3. 1.0
      Current Employee, more than 3 years

      Don't apply if you want to do good digital work

      28 Apr 2021 - Anonymous Employee 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Flexible working and now we're mostly remote there's a good work/life balance

      Cons

      For a company that constantly talks about "disrupting" and "being digital first", it's embarrassing how old fashioned and backwards we are. It's impossible to do anything remotely interesting in the digital space due to an insane risk aversion culture and leadership who seemingly have no idea what they're doing. Not to mention the complete lack of resource and over-reliance on third parties. Don't get me wrong, there are some really talented people working here who want to do good work, but actually being able to do good work is close to impossible. Most of the best digital talent has either been made redundant or have simply chosen to leave (without any sign of being replaced). Redundancies seem to be leaderships favourite thing as well. All in the name of "being efficient" and "setting ourselves up for success". But I've watched some of the most talented leaders I've ever worked with made redundant and replaced with people who don't have a clue. Clearly no care for actual expertise and driving real change and more interest in giving the in-crowd a leg up. If you're at all interested in doing interesting digital work that you can be proud of, go and work somewhere else.

      1 person found this review helpful
    4. 4.0
      Current Employee, more than 3 years

      Great colleagues poor salary

      28 Apr 2021 - Case Management in Clydebank, West Dunbartonshire, Scotland, Scotland
      Recommend
      CEO Approval
      Business Outlook

      Pros

      The atmosphere in the company is really good and there's plenty of support from management. The response to COVID was fantastic, we were sent home well before lockdown happened and hygiene and social distancing in the office was top priority for anyone still needing to be in the office. Now there's a focus on getting as many people working from home permanently and a flexible working option

      Cons

      Pay is shocking, staff aren't paid nearly what they're worth and it's cost the company a lot of talented people The quality of some teams is pretty low and there seems to be little repercussions or attempts to improve it

      1 person found this review helpful
    5. 2.0
      Current Employee, more than 8 years

      Going backwards

      17 Apr 2021 - Quality in Gosforth, North East England, England, England
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Difficult to find one right now

      Cons

      The regression since cybg takeover is phenomenal. There is no attempt to learn from remaining heritage VM colleagues. Everything is a backwards step.

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      2 people found this review helpful
    6. 4.0
      Former Employee, more than 8 years

      Great Culture but hindered by a difficult transformation journey

      22 Dec 2020 - Risk Manager in Leeds, England, England
      Recommend
      CEO Approval
      Business Outlook

      Pros

      The people and the culture between colleagues are fantastic, and colleagues from different heritage firms gelled well during the merger between CYBG and Virgin Money (not an easy feat but testament to compatible culture). Collaboration comes easily and there is a great sense of being on the same journey as other colleagues. Most colleagues are willing to take the time to do a favour, and junior staff have a voice. There appears to be no expectation to work more than your core hours, with senior managers encouraging against it, however many people do it anyway. I've always seen this as a sign that colleagues are invested in the firm's vision (although do worry that senior management takes it for granted). The cons feel temporary (even though quite a long period of temporary).

      Cons

      Cost-cutting has come high up the business' agenda for the last 18 months, and I'd expect this to continue for another year. This means good ideas often can't be actioned. Technology is also very dated, or with shiny tools being built on top of dated infrastructure. This can mean that colleagues don't have the tools to do the job. Fair pay and remuneration can become a challenge, as quite often the salary colleagues joined the company on will remain the same until they are promoted, which with an outlook of cost cutting means that I'd expect this to continue for the short term. The performance Management framework is geared to rate 98% of colleagues as the same, this means there is no extrinsic reward for working hard / excellence.

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      1 person found this review helpful
    7. 1.0
      Current Employee, more than 10 years

      Pros

      Some really good staff on both heritages that do the day to day work.

      Cons

      An integration programme that is burning money at an alarming rate but has delivered very little; CORRECTLY aligning staff pay, pensions, holidays working hours, car allowances etc is taking forever - I think HR must be on strike (or maybe under resourced); 2020 no bonuses or pay rises; Only 5% pay rise for promotions......yes 5% (why would you) Staff leaving the company at an alarming rate - some areas are as much as 70% under resourced 99% of contractors have left due to IR35 and specifically a recruitment company skimming contractors salaries. Long serving Staff wanting redundancy as low paid and no incentives so therefore becoming unproductive; All this is breading a spiral of unhappy staff and an unproductive workforce. DO NOT JOIN THIS BANK IF YOU HAVE OPTION, you will end your career.

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      4 people found this review helpful
    8. 4.0
      Current Employee

      salary

      6 May 2021 - Information Security Consultant in Glasgow, Scotland, Scotland
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Fair and competitive salary which is reviewed.

      Cons

      Low bonus for what would be expected.

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    9. 4.0
      Current Employee, more than 5 years

      Good

      4 May 2021 - Personal Banking Associate in Gosforth, North East England, England, England
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Decent pay good facilities and offices

      Cons

      Not good progression, slow can take long time to move on

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    10. 1.0
      Former Employee, more than 8 years

      Awful, Micro Managed, Untrusting, Under valued don't care attitude

      3 Mar 2021 - Senior Project Manager 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      I'm struggling to think of any

      Cons

      Awful micro managed Terrible project management attitude with more emphasis placed on bureaucracy and slide decks over delivering good service customer focussed enhancements. No user research is done to create good and well designed products. More emphasis and where you get in trouble is in this bit for not completing internal systems/updates, or attending a million project boards a day rather than looking at the customer design and journey and enhancing this. They talk about the customer in brand or marketing, but this is all rubbish - it is the most un customer focussed brand i have ever worked for. Slide decks are worked and reworked for days with usually over 10 versions to say the same thing before going to the next layer of management very hierarchical Very demeaning, untrusting management who go against the true Virgin brands which Richard Branson believes in and tweets about

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      7 people found this review helpful
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