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Originally Posted by MattyC
Thanks curves2000. Former bank employee as well and I 100% agree with all that you said. I was thinking of a way to put my thoughts down, I'm glad I refreshed the page.
I would just add that there is an inherent difference between the idea of being cheated (or potentially cheated) by your car salesman vs your banker. The bank is supposed to be a place that guards your money. The idea that it's actually fighting in the opposite direction is concerning. Obviously they are for profit companies, but they are also necessary social institutions, and acting socially responsible is vastly more important in that field that it is in something like car or electronic sales.
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I concur with you 100%. I had the issue that I am very passionate about banking, the history, the culture and provide the best all around advice. I hate to say it, I was dam good at my job. This resulted in me getting a TON of clients and getting overwhelmed from client and co-workers alike.
I started to butt heads with management and the regional leadership team over a lot of the things discussed above and in the CBC article. My personal and business ethics precluded me from trying to push products and services that weren't in the best interest of the client. What got me sometimes was that I started to get lectured on time management when I was clearly busy cleaning up other employee's tire fire mistakes. Reversing interest charges for multi million dollar clients on pro-approved lines of credit because the original bank employee told them to "draw down on it, pay it back and we will credit you the interest so you get it on your credit history" In other words if the client used it, then we would get the sales credit.
The industry as a whole has changed and I have contemplated going back into a different avenue such as private banking or investment management. It's still a career path but I see so many unhappy colleagues it makes me wonder if its a good idea!