This is by far one of the worst bank I’ve worked for in the last 20 years. I worked in the New York market which was combined with some of the Connecticut banking centers. There is a lot of nepotism with the top of the house and certain branches. Some staff members are hired to drive around the market and coach employees on how to make cold calls and they know very little about the bank’s own products.
The so called incentive plan called WIN is absolutely ludicrous. In order to make your incentive goal and actually see a bonus in your paycheck you have to pretty much double your goal. Attaining your goal is also close to impossible due to the lack of foot traffic in the banking centers due to the fact that no one knows who or what Webster Bank is. Incentives should be given as a quarterly bonus instead of a monthly bonus and given a separate paycheck. They should not be taxed and your benefits and 401k plan deductions should not be taken from your incentive. Webster doesn’t offer anything great in terms of products either, they have horrible rates and the required balances on accounts are not customer friendly.
In regards to the managers, most of them are at retirement age or past it. Most of the managers are there to just collect a paycheck and most steal company time by never staying a full shift. They say they’re on business calls when in fact they’re home, getting their hair done or day drinking.
