Would you consider going to work in a smaller bank or even a good reputable offshore bank in this economy?
Eve Daugherty Banking Executive
Absolutely. Smaller banks (in good standing) can be more nimble and can act quickly to determine a defined growth approach. Further, while the bigger banks may be struggling with economic factors, a well-placed regional bank may have the opportunity to "stand above the crowd", and quickly implement more effective risk management and process re-design to weather the economic storm well.
David J. Morris Mortgage Underwriter at Opus CMC
Most definitely. I've been in a bigger regional bank and would like to move into a smaller, local bank. Just looking for the opportunity.
James Gottemoller Personal Banker at US Bank
Yes. Smaller banks give you a chance to wear many hats. I have been in small, medium, large regional, and international. I would welcome the chance to participate in the closeness and multitasking of a small bank.
Ted Horan Vice President - Special Assets at Bank of America
I think I prefer smaller banks as a general rule. I am trying to find an opportunity into one now. I have worked at smaller to big regional banks in the past as well as a small non-bank commercial lender. Being a major cog in a small machine I have found more rewarding, than one of many cogs in a big machine.
Ginger Powell Treasury Services Professional
If you've not worked in a small bank environment before and have a large bank background, all of the above is true; however, don't discount the cultural differences that can sometimes make it very difficult to adjust and can be extremely frustrating. If you're in sales, it can be even harder, as a true high performance sales culture does not exist. I think many times, we take for granted the benefits that large banks have to offer, and having experienced both, the benefits of large bank experience far outweighs the small bank experience...good or bad economy!
Jane Campe US Bank
Yes I agree the culture can be difficult to adjust however as it relates to sales, my experience has been that the large banks do not adjust goals based on markets and competition. They just want to standardize across the footprint when there are clearly differences.
Reginald Walker Financial Consultant, Strategist and Manager
I've found that smaller banks can be more responsive from a customer view point. But I don't think we should forget that smaller banks did not go through stress testing or get bailed out. I personally have always liked the customer focus my smaller regional bank affords, but with my customers corporate assets, the stakes are higher and more services are needed than some regional banks can provide.
Shelley McDade CEO at Sunshine Coast Credit Union
Absolutely - you can impact outcomes more easily. Smaller institutions often provide opportunities for real market differentiation and usually you can make a bigger difference in a shorter time period.
Bruno Aguiar Client's Manager at Banco Popular
Yes, I would. Despite the financial crisis the banking sector is still one of the bests to work in. For those in sales positions, the relation with customers can be more satisfying working for a small bank. A small bank could have a focus in only some industrial sectors, which could be more attractive.
Lou Dunham CEO and Managing Principal CAMELSolutions LLC
There are approximately 8 thousand banks nationwide of which approximately 7 thousand are $1 billion in assets and under. Many of these are very profitable because they tended to their business and communities, unlike the larger Wall Street type banks. Smaller banks are an excellent opportunity for those interested in a banking career.
Frederick Sosa Experienced Finance & Business Development Professional
Sure. I've worked for larger banks and they do have their advantages. However, smaller banks can offer greater career growth opportunities, if there well capitalized. While they do face greater competition with larger banks, many customers like a more personal approach than the larger institutions. I see it as a comparison of Home Depot to, say an Ace Hardware store. While Home Depot is a great store, it can be quite overwhelming. Enter an Ace store, and you typically feel more comfortable, get faster service and spend less.
Acaria Almeida Vice President at Bank of America
You have a choice to be the big fish in a small pond or small fish in a big pond and that would depend on each one's preference. Yes- I would surely consider going to a small and reputable bank that encourages and reward strong work ethics.
Sidney Bostian Partner at Morse Capital Partners
Without a doubt. Well run smaller banks can offer a superior value proposition to most customers and allow skilled bankers to practice their craft in a professional manner.
Alex Freeman Exceptional & Visionary Leader with Advanced Skills in Management, Operations and Business Development.
Certainly, I went from a large bank to a smaller community bank (career move) then back to a larger, regional bank (relocated). Community banks are great, they really get the idea of "relationship" selling versus the bigger banks "throw enough stuff against the wall and some of it will stick" approach. In the current atmosphere of people bashing big banks, a real opportunity exists for smaller, community banks to grow their franchise.
Raj Rengarajan Financial Services
Smaller banks focus on associates and customers and as a result job satisfaction will be solid.
Joanne C Experienced banking professional
I would. Smaller banks allow you to learn more things. Previously, I worked for a small finance company and was able to learn the full spectrum for credit administration and documentation for housing and commercial loans. However, there are no more small banks/ finance companies left in this country. They all have merged to become big banks and there are only 2 finance companies left here. If given the opportunity in another country to go back to a smaller bank or finance company, I would certainly grab the chance.
Maciej Domański Deputy Branch Manager at Handelsbanken
It is worth to examine if your market area is one of core operations for the smaller bank. Good to know in order to not to find yourselves on one of first exist markets during cost cutting. Smaller bank OK, but on one of its core markets, other markets could not be the bank's priority in case of liquidity distress or cost cuttings:) Take care! Maciek
Calvin D. Johnson President & COO, Electronic Commerce Strategies, Business Strategy Consultant, Partner, Align FSC
I have carved out a niche consulting with banks in the $1 billion to $5 billion range. Very rewarding. Big enough to afford to do things. Small enough to have direct access to their C-level executives. Less bureaucracy. Usually not a lot of internal middle management bench strength or bandwidth to tackle tough issues. Generally when they engage you, they know that they have a problem that you can help them with and they are willing to listen to your ideas. Even better, they appreciate your help.
Corey Williams Assistant Vice-President at Citizens Bank & Trust
Absolutely. In my experience the smaller banks-especially those looking to grow- offer some of the best opportunities in the business. I work for a larger community bank now and have been able to learn more about banking and taken part in more initiatives than I ever could at one of the "too big to fail" banks.
Connie Lawlor Vice President - Group Controller at TCF Bank
I actually would consider a smaller bank for my next move. I have worked in two large international banks, and one regional bank. The larger banks have more of an infrastructure to tap into, but the smaller banks get down to basics, which some of the larger banks are lacking.
Linda Noland President of Stone & Associates Executive Search, Career Strategist, Professional Speaker
Thanks for the ongoing discussion, it's an interesting topic! I'm finding the smaller banks have more flexibility with hiring in today's market.
David Sanders SVP, Controller at NCB
Working for a small bank is great but you have to enjoy the way a small bank works. One needs to be able to go from the big picture to the small picture frequently and even get involved in doing things yourself. In addition, small banks do not have some of the great tools that larger banks have but this is changing all the time. The best part has been commented above, seeing more and having a greater impact.
Richard Williams Credit Risk Systems Support at The Royal Bank of Scotland plc
Yes I would go to a smaller firm. Many large banks are moving their operations and support areas to low cost operations centers in Buffalo, Raliegh-Durnham, Jacksonville and possibly Salt Lake City. I would go to a smaller firm to remain in the New York area.
Sanjeet K Verma AGM at IDBI Bank
The prospects can be more rewarding in a small fundamentally stong bank than a bigger bank. Hence, I would prefer such bank.
Andrea Owen Personal Bank Advisor at Santander Bank
Being really new to banking I cannot really say much but my first impression is that a large bank can give you more opportunities to develop yourself in a structured and mature environment. From my point of view larger banks (or operations) does not necessarily mean less customer focus /relationship. If you're committed and understand that customer is what moves the business you can act on that knowledge and have the best of both worlds!!
Leanna Andresian Competent Retail Banking Officer
I would say there're advantages and disadvantages of going to a smaller, bank. Larger financial institutions offer more in terms of career growth, resources to be offered to bank clients. Smaller banks offer personal attention and sometimes customized banking services which customers do appreciate.
Smaller banks are more customer oriented; as a banker I would have time to build and nurture professional relationships with new and existing bank customers. As a bank employee and a customer myself, I'd say when it comes to people's finances trust is #1 and when customers know and trust the banker (mostly from a smaller institution), then chances are they will continue to bank where they feel comfortable.
At the end of the day it comes down to happily doing your job as a banker / manager and delivering your promises to customers and colleagues. Smaller banks tend to value that.
Rakesh Sampath
Small banks allow your learning across the entire banking and financial domain and not just a single vertical per se. Also their focus is on service unlike larger organisations. The job satisfaction factor is pretty high. If given an opportunity to work with a smaller organisation I would certainly go for it.
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