Pros
The compensation is average for this role and the benefits are excellent - health insurance, 401(k) plan with company match, etc. The opportunity to get securities licenses (Series 6, 63, and 65) as well as insurance licenses (life, accident, and health) is a huge benefit as well. Being able to speak with clients about BOTH banking and investment products provides a holistic approach and deepens the business relationship. The incentive plan on the investment side is nice - since the licensed bankers receive a commission on all investment sales - although the percentage of commission received is meager (0.003%) on fixed annuity investment sales).
Cons
While some branches have effective management, the branch manager at our branch is incompetent. Our employee schedule changes DAILY and colleagues are often asked to come in early, stay late, or change the day(s) that they are scheduled. The licensed banker as well as the relationship banker spend nearly 80% of their time on the teller line. Call nights are NOT call nights since the bankers have to balance from being on the teller line and are spending time completing time sensitive tasks from earlier in the day (creating paperwork for the imaging department, calling loan processors to get statuses / information about loans, etc.). Since incentives are based on a net promoter score (customer satisfaction as a whole), incentive payouts are decreased or not given at all on the banker side. Our manager is not motivating and the fact that incentives keep decreasing (or not paid at all) leads to high turnover and employee dissatisfaction. Simply put, the environment at our branch is toxic. The regional manager knows there are issues, but has done nothing to address them. Customers complain about the lack of staffing and the fact that the bank is closing branches without properly staffing the branches that remain.