 |
||
|
|
||
| |||||||||||
Midwest banking giant The product of a $30 billion merger between Banc One and First Chicago NBD, Bank One is the fifth-largest banking company in the U.S. The deal between the two, accomplished in late 1998, was one of a slew of megamergers in the consolidating banking industry. The combined Bank One has more than 1900 branches in 14 states, and is the leading retail bank in eight states. Bank One is also the third-largest bank mutual fund company. Credit card king Bank One is the nation's largest issuer of credit cards, with $70 billion in receivables and 57 million card members. (The bank lags behind Citigroup when it comes to global rankings.) About a third of the bank's profit comes from its credit card businesses, which operate under the names of First Card (which was First Chicago NBD's credit arm) and First USA (the old Bank One's credit division). The firm is by far the leader in online credit card advertising, having established exclusive deals with America Online and Excite, as well as deals with Microsoft Network and Yahoo!. Bank One hasn't been shy about investing money for online advertising. Its contract with America Online, with incentives, could hit $500 million.
Bank One's web site, located at www.bankone.com provides current job listings with position descriptions, contact information, and (broad) salary ranges. Job seekers can submit resumes online. The firm also offers several development programs for recent college grads and MBAs, which begin in January and June. Advises one insider about positions at Bank One: "The commercial side of banking will typically offer much more potential than would retail banking (such as a new accounts representative or something)." Another insider gives some friendly advice about interviewing with the bank: "If you want to be considered for future advancement, lots of accounting would be to your advantage. That should be stressed in interviewing."
The merger Bank One employees are not necessarily enthused about the merger between First Chicago and Banc One, but they aren't up in arms either. "As with most mergers, some displacements occur, but the bank is bending over backwards to find positions for everyone," reports one insider. Says another: "Going through our merger recently can bring some trepidation, however, these things will happen whichever bank you may work for." At your service Insiders at Bank One describe a solid, friendly, Midwestern culture. One insider describes his employer as a "dependable" institution with a "rock-solid corporate philosophy." Another insider describes the atmosphere at Bank One as a "highly evolved sales culture, and very goal-driven." Decent pay, diversity This stability is linked by insiders to decent salaries. Says one: "Bank One offers competitive salaries, good benefits and a stable environment." Says a contact: "I believe the bank's salary structure and benefits are competitive, and many improvements have been made in the last few years." Insiders also praise Bank One for its commitment to diversity. One employee praises "a workforce that is diverse in both thought and culture." Says another: "Diversity has always been a top priority at Bank One. In the past, banking has been seen as a good ole' boy network. This isn't so much the case today." Some complaints Of course, "stable" cultures aren't the place to find wild dressers. "If you are going to have a successful career in banking, it will always be suits and ties," reports one insider. "It's casual on Fridays, but this is business casual: no jeans and such." Says another: "If you work in a customer contact area, proper dress is important. Some contend that the company, though, often leaves its employees "short-staffed and overworked." Says one insider at a Bank One branch office: "There's good benefits and compensation, but its understaffed."
Timothy P. Moen Human Resources
Commercial banking;Credit cards;Mutual funds;Retail banking
American Express;Bank of America;Chase Manhattan;Citigroup;Fleet;GE;General Motors;MBNA;Morgan Stanley Dean Witter More Company Profiles For more career information, go to Vault.com ©2000, Vault.com Inc
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
