I just got a job offer in bank, but I’m a little hesitant after reading here and a couple other sites. What’s the culture like in the bank? The recruiter really stressed the need to be in office minimum of 4 days a week and expect for it to shift to 5 days soon. (My current company has a very relaxed 3 days). It seems like the bonuses here are potentially good as a lead? He said to expect 20-25%? Any thoughts?
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Ex USAA employee here...
Where to begin? The Bank is far and away the worst run division in the entire company, and that's saying a lot. As others have mentioned, the Bank has been riddled with consent orders (the result of external audits showing that USAA has time and again failed to follow the most basic of regulations). All of this stems from antiquated processes that have not been modernized and leadership seems to be clueless as to what to do.
The whole place is run like some second rate military camp. Everything is top down yes sir, no sir, three bags full. You are expected to shut up and do what you are told. New ideas are not welcomed. Instead they are seen as being insubordinate.
At one time, a long time ago, USAA had a great culture. Those days are long, long gone. The bonuses that the recruiters tout rarely if ever reach the levels promised. The return to office mandate is a huge red flag. Management doesn't trust you so they need to see you sitting at a desk.
If you do decide to join, take advantage of the education perks. Get them to pay for a Bachelors or Masters degree and then get the he-l out of there. The longer you stay the more unemployable you become. Take a look at people that have been there 10, 15, 20 years and you will see exactly what I mean. They have that look of quiet desperation. They are stuck there and they know it. It's the corporate version of the thousand-yard stare.
This bank is a bunch of d-list EMG who could manage a drive thru. This bank is a dumpster fire where every 3 months we play Russian roulette of who will be laid off. Is it based on performance? No. Is it based off value? No. Combo of friends of the right EMG and being low value yes (white) men. “Do not come.” The benefits are mid at best. People that are apart of the furniture will say it’s amazing. The pay is industry average. Promotions in the right roles can come fast - but it’s usually a sign of bad leadership. Run, don’t walk away
Solid move, trust me you will be much happier staying in a better well known company in a more prominent role.
update I turned down the role. This company just doesn’t seem like a good fit. Best of luck to you all though!
I would love to go back to USAA. The benefits are hands down better than any company I have ever heard having. This is also after all the cuts they did to benefits. You get a bonus and a holiday bonus, 8% 401k match, pension, and probably the cheapest insurance costs.
I've been very successful at the largest bank in the world, and two very large regional banks, before coming to USAA. Please take seriously the considerations of an OCC consent order ( which means more work) and the constant layoffs (which are never communicated and which mean fewer people to do the work). It's a recipe for a nervous breakdown. Additionally, this is the most ageist bank I've ever worked at and the managers feel managing remote workers means ignoring them completely. No recognition, no opportunities for growth, no damn idea what I do for ten hours every day. At the recent town hall it was revealed that employee satisfaction has plummeted and the 'plan' to address it is for senior leaders 'to try and figure what we think that means'. The plan should be to spend 15 minutes talking to maybe 20 employees who are at different levels and are randomly chosen so they can TELL YOU what it means. And don't fall for the rah rah BS about how we serve our military members, while we're instituting changes which make it harder on them. Go be a zoo keeper or a grocery bagger or an ecotourism leader....ANYTHING but working for USAA FSB. Unless you're an attention wh--e who spends all day complaining in one employee Slack group about stupid things and making memes in another Slack group. Than you'll fit right in.
Only do it if you have a very strong network who can help you get another role at a competitor you get laid off. Expect the strategy to change year over year for no apparent reason and no stability. I had extremely high performance reviews and was still laid off. You simply can't predict it.
I couldn’t agree MORE with all these comments above. The Bank is a S..t show and I can’t believe that it stays open. The constant closing and opening of issues is ridiculous and a joke. The constant and constant change of upper management su-ks, everyone bringing their ideas that don’t work. If you want to do the job of 3 people and stuff totally not in your job description and tread on water of being let go, then accept the offer. But in my personal opinion, stay away from this place.
I have been let go just like that from Bank data analytics. Leadership does not have a clue on how to fix regulatory and compliance issues or consent order. I have repeatedly raised concerns on SSN's and other sensitive data in production that were not masked, but too many politics on what tools to bring in for scanning delayed 8 months.
Another thing I have noticed at USAA is too many redundant roles and no clear vision from top down. You raise a concern on any issues, you will be the target for leaders for the next layoff.
Dominating, manipulation and power play are the qualifications to join USAA. If you got that plenty then go for it. Once you join, the next year try to switch from bank to P&C or Life which are a bit stable than VOLATILE Bank where recycle is the only mantra for leaders where they look for new people to come and do some magic.
They allow 30 year old kids to run teams of numerous people in “everyday banking”. They hire people with 20 years of experience and treat them like they’re d-mb, do not listen to them, and mock them in our leadership meetings. I’ve never seen anything like a fraternity in the workplace prior to my tenure in “everyday banking”. It’s is something as a term “bro squad” means. The leaders have poor experience and mock you for a spelling error. Sad is right.
The bank is the pure definition of a hot mess. Numerous consent orders since 2019, the 2024 consent order basically says USAA s_cks at being a bank and get your S together or we’ll do it for you.
But, money talk and if you’re being offered substantially more than what you’re currently making, then do what is best for you and your family. Just remember, the bank is only profitable this year because of the reduction in workforce (layoffs), and 2026 looks to be following the same pattern as 2022-2023-2024, unless the OCC says we can start offering products to new customers.
USAA is a combustible fire . Do not leave your stable job for this regulatory mess with poor leadership that engages in managing people out instead of developing them. This is not industry standard. USAA bank doesn’t align with regulatory norms. Stfu
Same as you, I worked at one of the larger banks and left for USAA FSB during covid but I left USAA a few months ago. With that said, understand that you will be joining a bank that has both severe financial and regulatory problems that management has not been able to solve for several years now. The bank’s balance sheet is poorly managed, they don’t generate enough revenue, and they rely on expense reduction to turn a profit. They’ve been hit with multiple consent orders from the regulators in the past 6 years and the latest consent order asserts that the bank hasn’t done enough to address the earlier consent orders. The latest consent order also limits their ability to launch new products which hinders their ability to generate more revenue and forces them to rely on expense reduction (mostly reducing personnel costs) to reach breakeven profitability.
Turnover at the executive level is high so strategy is constantly shifting resulting a chaotic and disorganized work environment. At the same time, there are constant reorgs and layoffs typically occur at least every March and September. The compensation is higher than most banks but the job won’t be nearly as stable. Given the high level of executive turnover, there’s no real talent management strategy here so expecting career growth is a gamble. If you do accept employment at the bank don’t stop interviewing with other employers, watch for signs that they are potentially managing you out, and plan to leave within a few years.
Honestly, the decision is up to you. Make a list regarding why you are leaving your current firm and compare it to what you think USAA will offer. From personal experience, I was recruited to USAA and thought they were first class in operations and benefits, but this is not the case. They talk a good game, but this company is stuck in the early 2000's and has no interest in catching up with current rules and regulations. USAA is just playing a waiting game hoping to get away with their business practices based on politics. The "Mission Moments" nonescense is a joke, and it should not be. USAA is overpriced on it's prodoucts, has sub par technology, and little to none regarding sustainable polices & procedures. As far as benefits, they are bascially the same or less than any other top firm.
Do not come
Are you cocky? Arrogant? Think you're more important than everyone else in the company despite losing the company money year after year because you can't spell compliance? Then you'll fit right in at USAA Bank!
Working at USAA form a stable real bank job where you know all the policies and procedures and have a lax work life balance is a gamble. Most of the times here, the gamble does not work out. Since this company is an insurance company first and a C rated domestic bank second coming here could put your entire career at risk.
If you think the bonus structure and pay is worth it for a couple of years then go for it but just be fo-e warned career growth here is non existence, if they dont like you they WILL find a way to get rid of you and if you do not kowtow to your manager and senior leadership they may throw you away like yesterdays trash.
Take it from me I worked for a TOP 3 bank and left during covid for the WFH and bonuses but after 2 years it ended in a trainwreck.
Joining Bank from outside the organization has high risk. If your position was desired by current USAA employees that didn’t get the role you were selected for, they will reticule you and find any random thing you missed and overly exaggerate it. Card especially emphasizes form over content. There are like immature kids running everyday banking.
Sounds like you’re coming from Wells Fargo. You’ll be working on high school level work so you’ll have lots of time browsing TikTok.
@OP+1k3w2aaca -
I joined as intern 2 years back, quit right after collecting the bonus this year, so I can’t speak to the present situation. But before you decide to board what might turn out to be the Titanic, remember this: the culture has changed at USAA already. EMG & C-suites betraying its own people. Loyalty was traded for short-term gains, and the foundation is not what it once was. Read these words carefully, they come from experience, and from the hard lessons of misplaced trust -> https://www.thelayoff.com/t/1k3s3j4h1