Anyone waiting for a promotion after a restructuring...big mistake. When our manager was made redundant, all of the juniors were then consolidated under a single manager. So more juniors reporting into a middle manager. How is it that Amex has a higher than average industry tenure when there is high attrition rates among the lower ranks?
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Culture at Amex is better than other banks. That is why employees stay there longer.
Amex used to have a very good culture until it went under Squeri. The list of leaders brought in the name of refreshing change and “DEI” effed the culture up and only ensured more and more people got hired who had no idea how to do the job which pushed all the pressure on those who did aka the long standing ones doing so for a hope of a promotion which never existed.
Amex tech atleast is a joke to be in and work unless you are a DEI in which case you coast free and plant false cases of “misconduct” on those who voice their frustration because god forbid you are asked to do the bare minimum for the paycheck you receive.
I would say stay here for 2-3 years for the brand name on your resume and then go elsewhere. Lifetime work here is only for those who either keep their head down and don’t expect promotions or useless DEI hires who were recruited to boost their demographic numbers (they don’t actually do any work)
@7cmi+1tucT3Xt Nobody dare question the Amex brand, it is the company's religion to make sure that the brand stays protected and preserved at all costs like Versace and Gucci. Can't have Amex being associated with data leaks, hacks, consumer scams and lawsuits.
Too many long-tenured colleagues clogging up the corporate ladder and covering their own a$$es so they can get their retirement packages and avoid being sacked for "misconduct" and losing 30 years of their accrued benefits.
But I agree, shareholders for the most part do not care about DEI and turnover rates much like how they don't really care about the workplace culture of Microsoft, NVIDIA and Apple, they see a stock price they want it up. These DEI stuff sounds like another BlackRock agenda.
That's why every time they waste millions of dollars on DEI while the average colleague is underpaid, the workplace has become laughable and deplorable. Yet sadly, many think that the Amex workplace is the center of the universe while eating a sub-par pay cheque. I tell them to run along, put themselves in crippling credit card debt with a credit score <500, and work until the day they die. :)
@CardSlayer555 nails it...
and this is so true:
"Shareholders don't care about turnover rates, they just want to know whether the brand is getting cr#pped on or not."
@6dxg+1tucT3Xt Berkshire Hathaway owns more than 18% of AXP stock. Vanguard and BlackRock have <10% ownership each, but that doesn't stop them from working together to vote on company matters. The rest of the fund asset managers have considerable influence even though their stake is smaller compared to Berkshire Hathaway. Hence, there's a culture of risk aversion, zero-accountability and zero performance management against risking ba----dising the Amex brand.
This naturally leads to a lot of useless middle and VP managers and a high turnover rate of lower rank and file employees that goes underreported or skewed to su-k up to shareholders. So adding all up the turnover rates should be on par with other banks and consulting firms. Which should lead to less than 3-4 years.
Turnover at the higher levels is very low, but really high at the lower ranks. I call selective data bias BS. Shareholders don't care about turnover rates, they just want to know whether the brand is getting cr#pped on or not. If so, who is responsible and will be losing their job the same day.
I'm not sure those numbers are ever correct.
They some how always post numbers, but there's less and less people doing actual work.
Amazingly enough, their "protect the brand" strategy seems to work with the media and other investors. They are never on lists, like what large companies Blackrock/Vanguard own a lot of stock in, even though they clearly both are major Amex stock holders.
I don't know how they pull it off, but they always do.
No, it's a different company because it doesn't believe in weeding out/performance managing underperformers out. That's why people stay in the same job forever and only the rubbish leaders stay behind. That's hardly a unique workplace culture, any company that removes accountability for KPIs will have 10+ year managers and selling it as an inclusive, tolerant place to work is a joke.
Will they change? No. Have you seen a Blue Boxer purposely make their own jobs harder than it should be? No, and why would anyone work harder for the same pay?
Because none of the stats at Amex sense. They remove negative Glassdoor reviews. That's how pathetic of a snowflake organization they are.
Once you hit a high paying middle manager role, it's really just a glorified B30 job, and they stay for years and years eating the fat pay check while their subordinates do 90% of their work.
It's a joke that they flaunt all these great places to work accolades. But I feel ridiculously sorry for the B30s who stay and you end up with a 45 year old Assistant Manager for XYZ Card Product that's been at the company since she/he was 18. It certainly is a Great Place to work...if you enjoy a meaningless career.
Good luck doing that when things are getting more and more expensive.