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CIBC or Scotiabank job?

  • Last Updated:
  • May 14th, 2015 1:51 pm
[OP]
Newbie
Apr 2, 2015
14 posts
14 upvotes
Bedford, NS

CIBC or Scotiabank job?

I just received job offers from Scotiabank and CIBC to work at their call centres. Now, I have to decide which company would be better to work for. The main difference so far is that CIBC seems much more sales & targets focused. Has anyone worked for either of these companies before/have any advice?
68 replies
Deal Fanatic
Aug 3, 2014
5869 posts
3874 upvotes
You will probably keep saying "Sir/Madam, you need to go to your MAIN branch to do that" if you work at Scotiabank. :razz:
Deal Addict
Sep 4, 2007
1490 posts
1616 upvotes
Edmonton
Have heard bad things about cibc's retail side. Also have heard that cibc low balls on pay. I worked for Scotiabank for a brief time on the IT side. Not a bad place,
Member
User avatar
May 7, 2007
446 posts
160 upvotes
Peterborough
I have heard that CIBC sucks as an organization. Very cut throat. I haven't heard too much about Scotiabank
Newbie
Aug 14, 2014
53 posts
22 upvotes
Toronto, ON
RFD seems to have some hate for CIBC, but I will say that the organization has treated me pretty well. I was able to move up the ladder by continuing education and exceeding preformance targets relatively quickly, and now they pay me half decently. I think most of the hate on here comes from people that were not preformers for whatever reasons. I would think that bank call centers are basically all the same.
Deal Addict
Mar 18, 2015
2406 posts
1448 upvotes
Antarctica
Did you have previous call center experience? I have applied to them all and no calls.
[OP]
Newbie
Apr 2, 2015
14 posts
14 upvotes
Bedford, NS
Crichtonfan wrote: Did you have previous call center experience? I have applied to them all and no calls.
No I have never worked for a call centre before, just a lot of customer service experience. And I am about to graduate with my business degree. Do you have previous customer service experience?
[OP]
Newbie
Apr 2, 2015
14 posts
14 upvotes
Bedford, NS
JackedBanker wrote: RFD seems to have some hate for CIBC, but I will say that the organization has treated me pretty well. I was able to move up the ladder by continuing education and exceeding preformance targets relatively quickly, and now they pay me half decently. I think most of the hate on here comes from people that were not preformers for whatever reasons. I would think that bank call centers are basically all the same.
Thank you for the info! I guess I'm just questioning how I would perform in a targeted environment. Did you work in the call centre or the branch?
Newbie
Aug 14, 2014
53 posts
22 upvotes
Toronto, ON
emilyjm wrote: Thank you for the info! I guess I'm just questioning how I would perform in a targeted environment. Did you work in the call centre or the branch?
I worked in Branch. Targets are steep but attainable. I would assume pay is higher in branch but I may be wrong - it wasn't great, around 35-40k as an FSR fresh out of university. RBC's discount brokeage call center offered me a job a while back for like 37k and you need your CSC, I dont know what exactly what call center job your are applying for but generally you just need to work hard and you will do fine. Show that you were willing to climb by doing your CSI courses like your IFIC/CSC etc..The banks are always seeking to increase profit, so they are all incredibly sales driven, the job is a call center/CSR job but you will see the major preformance component will be sales. Keep positive, you will be surrounded by people with a loser/negative mentality. They usually end up on RFD stating how bad CIBC is. In response to your OP, I would suggest that you go with whoever pays you more initially. Banks are all basically the same IMO.
[OP]
Newbie
Apr 2, 2015
14 posts
14 upvotes
Bedford, NS
JackedBanker wrote: I worked in Branch. Targets are steep but attainable. I would assume pay is higher in branch but I may be wrong - it wasn't great, around 35-40k as an FSR fresh out of university, on average we profit the bank about 4million dollars a year. You just need to work hard and you will do fine. The banks are always seeking to increase profit, so they are all incredibly sales driven. Keep positive, you will be surrounded by people with a loser/negative mentality. They usually end up on RFD stating how bad CIBC is. In response to your OP, I would suggest that you go with whoever pays you more initially. Banks are all basically the same IMO.
That is true, all banks are definitely profit-driven. Scotiabank was not worried about targets at all in the interview process, but CIBC was definitely stressing it. However CIBC is also paying more and offering better benefits. CIBC also offers a 6-month sales training program. It may be difficult to sell things to people who are mainly calling for other reasons (ie. bounced cheques) but I'm sure the training is helpful. Seems like it will be the better one to go with!
Newbie
Aug 14, 2014
53 posts
22 upvotes
Toronto, ON
emilyjm wrote: That is true, all banks are definitely profit-driven. Scotiabank was not worried about targets at all in the interview process, but CIBC was definitely stressing it. However CIBC is also paying more and offering better benefits. CIBC also offers a 6-month sales training program. It may be difficult to sell things to people who are mainly calling for other reasons (ie. bounced cheques) but I'm sure the training is helpful. Seems like it will be the better one to go with!
Seems like your choice is made, good luck to you!
[OP]
Newbie
Apr 2, 2015
14 posts
14 upvotes
Bedford, NS
Yes I think it is. Thank you for your help :)
Newbie
Dec 28, 2014
83 posts
38 upvotes
Mississauga, ON
I wouldn't have chosen CIBC, but hey you had a choice. Hope it works out for you.
[OP]
Newbie
Apr 2, 2015
14 posts
14 upvotes
Bedford, NS
TheBusinessMuppet wrote: I wouldn't have chosen CIBC, but hey you had a choice. Hope it works out for you.
Thank you! What has been your experience with CIBC?
Newbie
Dec 28, 2014
83 posts
38 upvotes
Mississauga, ON
emilyjm wrote: Thank you! What has been your experience with CIBC?
Never worked there however, all my friends who did work at branch level or call centre, their experience has been quite poor as they emphasize sales targets.

I had an interview once at a branch, and before I had my interview I was approached two employees trying to sell me products.

CIBC does have a reputation of being a bad bank as they are usually on the bottom of employee/customer satisfaction surveys.

anyways just my 2 cents.
[OP]
Newbie
Apr 2, 2015
14 posts
14 upvotes
Bedford, NS
TheBusinessMuppet wrote: Never worked there however, all my friends who did work at branch level or call centre, their experience has been quite poor as they emphasize sales targets.

I had an interview once at a branch, and before I had my interview I was approached two employees trying to sell me products.

CIBC does have a reputation of being a bad bank as they are usually on the bottom of employee/customer satisfaction surveys.

anyways just my 2 cents.
Thanks for your honesty. Do you know if the targets were difficult?
Newbie
Dec 28, 2014
83 posts
38 upvotes
Mississauga, ON
Like I said, have not worked for CIBC. Did not get the job though as I never really wanted to work for CIBC since the the interviewers were awful and in a brutal location.

Since you will be in a call centre position. Expect a lot of upselling and be prepared for lots of verbal abuse, especially if you are outbound.

Reaching targets can vary depending on how popular the product CIBC is offering.

My main advice for you when working in sales is promoting the product you are responsible for and have a thick skin.
Newbie
Mar 19, 2015
21 posts
8 upvotes
Edmonton, AB
I work in a bank call centre. We get paid the same as branch staff FSRs. Tellers get paid the least.

Lots of sales targets as with in branches. It's stress for people who can't make those targets. For me, it means a better bonus.

Verbal abuse happen but we simply warn the caller and hang up. If it happens enough, the bank sends a general letter stating that their accounts will be closed.
[OP]
Newbie
Apr 2, 2015
14 posts
14 upvotes
Bedford, NS
Hygenicjoe wrote: I work in a bank call centre. We get paid the same as branch staff FSRs. Tellers get paid the least.

Lots of sales targets as with in branches. It's stress for people who can't make those targets. For me, it means a better bonus.

Verbal abuse happen but we simply warn the caller and hang up. If it happens enough, the bank sends a general letter stating that their accounts will be closed.
Thanks for the info! I have no experience with a lot of sales targets, but there was a sales role play in the interview that they said I did well in.

Would you say it is challenging selling to people who are calling for different reasons (ie. bounced cheques)?

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