I'm told I will get an offer next week. It will be at MD level, in audit. Would I regret it? I have a pretty good setup where I am. Pay would jump a good bit but I would lose my comfort and I don't want to come over if the place is in constant layoff fear. I know how that poisons the culture from a past employer.
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Did you not read the endless posts of how terrible this company is?
It’s called Slave Street in the company
@OP This place S U C K S. If you are entertained by widespread stupidity you still might enjoy it though. Also you better be up to date in deciphering indian accents.
@OP As an MD, you should know better. If this question was coming from an A2 or Senior Associate out of college, I would understand.
@OP One thing that strikes me about this post is hiring from outside the company.
There are many string VPs qualified for an MD position like this. I’d think there were many highly qualified VPs that applied for this position internally.
Why would they offer it to someone outside the company? Not saying they didn’t because I’ve seen it… everyone complains about lack of promotion opportunities.. would be a dimb move on SSB to hire outside
@ff how much did they offer for the md position if you could share
Thanks all, I decided to pass. They seemed too strict on RTO which didn't sit well with me.
@c2 The problem is that they will lie or mislead you to you to get you to sign the acceptance.
My bonuses have not been near what the company claimed they would… now granted you need to realize a bonus is not guaranteed but it should fall within the general %s they claim if you are performing well… that is not the case.
They also gave me a sign on bonus to entice me to join rather than wait a couple of months as I would forgo some money due to my longevity at my previous employer. This sign on bonus was to compensate me for what I was walking away from. Come my first bonus they have me zippo because I got a sign on bonus … I’ve received sign on bonuses elsewhere and I’ve never been penalized as a result ….i would have waited the few months had I known.
Just be careful if you decide to join and not only ask, but get anything they stated in writing.
Have you taken into consideration work/ life balance?
50+ hour/ weeks are the norm.
Health benefits su-k. They recently switched to Aetna so if you join this company, don't get sick. Bottom line: they switched providers to save the BANK money not to benefit the employees. That sums up how this company cares...not for you.
The company has been doing yearly layoffs since 2005yr
The company has been replacing U.S workers with imported H1B workers
The company also makes use of hiring 6month to 1 to 2 year Temp workers
No department is safe from layoffs.
The only people who are safe are the Senior SVP's .
And last when hiring people the question everyone would like to ask but are afraid to ask is.
Am I wasting my time taking this job, am I just going to be let go within 1 to 3 years after the company is doing using me.
@OP The layoffs seem to be perennial once more (at least since 2021), and are now nearly always stealth. This tends to rot the culture. I would say define a very concrete payoff you expect to get from taking this job, something that could be achieved in a year with minimal assumptions about being supported in any way by the organization. This may be as limited as having an MD role to place on your resume. If it still seems worth it, it may be worthwhile. Else, you may be better off staying where you are. The point is to think in terms of extracting value for your future potential opportunities rather than play the mug's game of trying to grow here. It is highly unlikely that any role at STT is to be considered as an engine of long or medium term career growth, as it is clear the current leadership (who have in recent years banned promotions as a matter of policy and outsource positions whenever possible) seems poised to remain for at least the next few years.
I would not join.
Layoffs happen every 2 months.