Glassdoor’s 2023 results are in, and it doesn’t look great for international finance. Not one major global bank made any of the «best places to work» rankings.
Glassdoor is one of those sites and apps you turn to in quiet moments or not-so-quiet moments – and usually during a pique of work-related frustration.
While nursing a loss of face from some internal political battle, you canvas the reviews of your company, searching for confirmation of how bad you have it, while keeping your eye on any new jobs out there.
That kind of behavior is very likely a key reason why the company’s «best places to work» rankings have become such an annual and widely covered media event (collated Google search results).
Poor Showing
But the global banks, the ones whose names we all know, worldwide, have not done well this year. In the US list of the 100 best places to work, the first bank that even makes it is Capital One in 47th place, behind companies such as Lego (23), The Church of the Jesus Christ of Latter-day Saints (23), and lululemon (24).
In a ranking replete with management consultants and tech (Bain is third, McKinsey fourth, and Boston Consulting seventh), the only faintly recognizable names are Fidelity (18) and BlackRock (72). There are a few recognizable international brands such as Mastercard (60) yet even they fall well behind companies like Crew Carwash (52).
There are no JP Morgans, Citis, Morgan Stanleys, or Goldman Sachses here, and no UBS or Credit Suisses, or any of the international Swiss private banks. The only bank you could even begin to call a major international bank would be RBC, which just makes it at 98.
Roche in Canada
Coincidentally, with that in mind, the list of the top 25 in Canada has a few surprises –but no RBC. More pleasantly, at least if you are Swiss, pharmaceutical Roche takes second place while, again, the major banks are a complete no-show.
The UK list seems to mirror the US one with tech and management consultants being highly placed. But at least here Goldman Sachs makes 41st, albeit behind Fidelity (38) and BlackRock (12).
France has nothing for us, with no trace of a BNP or SocGen in the top 25. Instead, we have a Chanel (20), a Hermes (24), and a Decathlon (25) rounding out the end of the list, lending one to make certain generalizations about what provides actual career fulfillment to the French workforce. Germany is no different, speak no banks, although Roche (8) is once again a clear show and a positive surprise.
Throwing More Money
Are there any implications from all of this for global finance? The conventional wisdom is probably that it does not matter. Like as close to a zero as one can get.
In the past, banks simply threw more money at their misery-prone workforce or promoted them a step or two internally and they can still do that.
But, as many media are reporting, Goldman Sachs and BlackRock are currently cutting thousands of jobs this week, which is likely to keep many employees hankering for their seats, regardless of how bad their internal political tallies are.
Asking for Little
Still, you take a look at the media release from Gainsight, the company that made first in the top 100 best places to work this year, and that of Glassdoor, and it makes you think.
The industry could do at least do a slightly better job of trying to be a marginally more pleasant place to work. In the name of most employees, it is not asking for all that much.
