Pros
5/3 has a good retirement 401(k) plan.
Cons
If you are an Accountant in the Cincinnati area you have undoubtedly heard someone say, “never work at Fifth Third”. I’m here to tell you that all of those bad things you’ve heard about 5/3’s Corporate Accounting Department are 100% true. For decades 5/3 has struggled to recruit high caliber employees to work in their Corporate Accounting Department. This despite the fact that 5/3 is in a constant state of hiring. Why are they always hiring? Because people are always getting fired or resigning from their roles. Take 5 minutes and go to Indeed.com or any other job posting site. The sight will be flushed with open Accounting roles at 5/3, just like it was last week, the year before and the year before that. It’s a constant struggle for 5/3 to retain their people. Here’s the reasons why: 1. Management’s Lack of Emotional Intelligence – If you think that the 1960’s was a breakout decade for innovative management techniques then you will love working at 5/3. If you are like the rest of us who believe in emotional intelligence, servant leadership and people are the company’s most valuable asset then you will despise 5/3. A tactic used in the Corporate Accounting group is to write your performance objectives on a dry erase board in the middle of the workspace for everyone to see. Bad behavior management follows. 2. Toxic Culture – Constant turn of people in the Accounting Department is the norm. People who join quickly realize their mistake and leave the bank for other opportunities. Others are let go as soon as the CFO decides that he doesn’t like next quarter’s forecasted SG&A. Either way, constant turnover is the norm which means you will have a new manager every other year, struggle to get your work completed because your contact in the other department quit the company etc., etc. As if the turnover wasn’t bad enough the Executives are trying to institute a militant SJW culture at the bank. Be prepared to have SJW causes in your face along with identity politics every spring / summer. If the bank would put as much effort into trying to get their banking app to work as they do for SJW causes then maybe they wouldn’t be losing so many customers to US Bank. 3. Antiquated Everything – As if 1960’s management wasn’t enough, the last time the office décor was updated was in 1960 as well. But most impressive of all is how the bank continues to use an ERP system that is decades old. The bank’s ERP system is a mainframe system. That’s right, no SAP, Oracle or anything else created in this millennium but a mainframe. Remember when you needed a floppy disk to get your computer started? Yup, you’ll have fun with that at the bank. 5/3’s employment model is to prey on the desperate. They will lie to you during the interview process in an attempt to get you to sign. You’ll hear things such as, “the bank has really changed over the past ten years”, “That was the old way of doing things, we’re different now” or my favorite, “we really value our people”. All lies. Unless you are desperate you should never consider working at 5/3’s Accounting Department. Consider yourself warned.
