Been here 5 years, find it much better than where I was (another bank not be named). Culture is so much better here. Maybe I'm lucky and in a good spot, but I am very excited about the future. There will always be folks who aren't happy with their roles, their pay or their manager. I am happy with all 3 currently but Wall St isn't what it used to be. There will always be the threat of layoffs in today's world. Face it head on, keep your head down, add value where you can and keep battling. Good luck all!
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I am so happy someone else feel the same way. I like Citi and the culture. I love what I do at Citi , I love my department and senior management. If I am laid off due to whatever reason,I will be devastated because I know how much good my team And I have done and will do for the organization but still grateful for the opportunity to work on some amazing projects.
Since the OP came from BNY Mellon, are you aware BNY Mellon significantly reduced its 401k match and bonuses starting in 2018 even pre-pandemic and continuing on forever ? You're Not given any sick days if you join starting in September, and are given only 4 vacation days if you join starting in September. I know people or rather Svckers who left JPMC and went to BNY Mellon and now regret it. The point is of course Citi pays more and the culture, work etc. are a little better than BNY Mellon. That's because BNY Mellon is less profitable than Citi, is a lower tier financial institution, is worse off than Citi when it comes to technology, operations, people, processes, etc.. Birds of a feather flock together. Citi, BNY Mellon and Wells Fargo. GIGO Garbage In Garbage Out.
Hard to keep going and want to work so hard when you're micro-managed by leaders who take all the credit for exhausting work, you get bashing sessions without praise and then after little to no feedback otherwise you're slapped a pathetic 3 rating.
Glad you are happy at the company. Your story is rare as most are very unhappy with their managers and the state of things. However, one should still be cautious even if one have a super awesome team. People are getting moved around and even the "good managers" will have to make su-ky decisions that may not be the outcome you had expected.
BNY pays well for those coming in from bigger banks it's the only way to attract talent.GS folks are flocking in for higher pay and lesser bs. it's heaven for them.
Lots of projection in this thread. So what if some people like it at Citi? It doesn’t matter where they came from and unless they took some senior leadership role here, they probably have little impact to Citi’s underlying issues.
A lot our leadership has been here for decades so blame them for not adapting, not the people who saw some appeal at Citi and wanted to make some improvements with a fresh set of eyes
This is such a crazy post with crazy comments and responses...WOW...
Agree with OP. I actually like Citi. I'm no micromanaged. The culture is good. Yes, I agree, there is a lot of red tape everywhere, but as a whole, it's decent. I have been here two years, and it saddens me that I may not be here as long as I have wanted. I came from competitors and they were pretty toxic. I know it's toxic here, but honestly, I can't complain. I do wish everyone who wants to stay, including myself, the best.
You know absolutely nothing. The banking industry is a small world, especially if you are front office like I am Lots of people come from JPM and GS to Citi as well. Are they responsible for Citi’s downfall too?
Post ID: @qtj+1qySFd9P : That is the point man - people like you had a good ride in an institution which they would not have the chance to enter 20+y ago... Of course Citi pays more than BoNYM - it used to be more profitable, like all the big US banks. But people like you ruined it for everyone, and now Jane finally realized it is time to get rid of the drones like you... Risk is bloated, but are cheap - unlike business functions, where you have expensive and useless people who can be easily replaced by technology... And that is happening - equity research guys are scared of the coming generative AI revolution ...
I like the organization and benefits I’ve come to dislike a lot of the people working in here. I know I will get thumbs down, but a lot of entitled people. A lot of low performers. People discussing fringe politics at work. Oh and lot of people looking to accuse you of anything. People also seem lifeless nobody even makes eye contact. I feel I go back into the 70s or 60s when I go into the office. I go out and I meet real people with a soul, here everyone seems dead while alive.
There’s also some plain nasty rude people - people burping out loud or making noises in their desk all fricken day long w no respect to others.
I would actually kind of love the place if the people were different.
Yep, people are right. There are some smaller players that are even worse than Citi for chaos and disorganization.
OP, exactly. The only type of Employees Citi can attract, convince that it's a better environment (salary, culture, bonuses, etc.) and convince to stay are the Employees who came from lower tier banks and other lower tier financial institutions with less capital or lower net income. In your case, BNY Mellon. BNY Mellon is more of a clearinghouse for financial transactions than a real bank. BNY Mellon sold all of its bank branches to JPMC almost 20 years ago. It does Not have an Investment Bank, or a substantial presence in International Consumer or Private Banking. It has a miniscule US Private Bank and Asset Management business.
Agree with OP. I’ve been at Citi for at least a year and it’s so much better than my old firm, BNY Mellon. In NY, VPs only start at like 75k whereas at Citi the low end is 135k. Check on LinkedIn if you don’t believe me….Even AVPs make more at Citi than seasoned VPs at BNYM. Benefits are pretty good in comparison, too. It was a no brainer to switch based on that alone. We’ll see what happens next week with bonus and raises, but I have no regrets switching here.
I too am stressed about all the re-org conversations because I genuinely like it here. The only thing I’d complain about is that there is a lot more red tape here. It’s not so easy to get an answer on some things and risk teams give us work just for the sake of doing work. They seem very bloated. There’s no shortage of work on my end though, but I’m happy to stay busy.
I’m sure there are plenty of better places to work than Citi, you can do much much worse
Joined Citi nearly 2 years ago as a VP, when citi was hiring to address the consent order.
Yes, processes and technology are a mess, requiring us to compensate for that with some overtime work, but culture is indeed so much better than toxic , aggressive , non-forgiving environment at a major competitor where every mistake is treated as the end of the world.
Really happy to be a part of my team - only this alone is quite a motivation to contribute extra efforts.
That’s great and happy to see a positive experience. Which team are you on? Should be envious.
Post ID: @owv+1qySFd9P You mean birds of a feather flock together. DVMB, INCOMLETENT people hire other Dvmb Incompetent people. The same goes for ethnicity. Look at who the People Managers are and down their reporting line. Unless the People Manager is caucasian there's little to NO diversity. The hire and play favoritism, cronyism with their own kind. This is because the caucasian People Managers were ordered by Citi mandate to hire a diverse team. The rules and laws do Not apply to those who are Not caucasian.
Post ID: @gyv+1qySFd9P : It is not about telling the good people what they do right. It is about telling the bozos what they do wrong...
I am happy for you. Please pass this culture on and be kind to others. Tell you boss what he/she did right. We need more competent managers in Citi.
or maybe because I am a C15 and made something of myself over my career and I'm not afraid of working hard.
Maybe because you are one of the free riders ... I have so many happy colleagues - because they never believed they will have the chance to work for such an institution but their stupid managers hired them. You know how it works - stupid people like stupid people, and everyone is happy they managed to achieve something.