Citi FAQ

All answers shown come directly from Citi Reviews and are not edited or altered.

47 English questions out of 47

October 25, 2018

Does Citi offer relocation assistance?

Pros

Excellent package and benefits with great pension contribution.

Cons

No bonus and relocation benefits.

No bonus and relocation benefits.

October 25, 2018

See answer

January 19, 2020

Does Citi offer dental insurance?

Pros

Good benefits, maternity 2 months, dental care, Insurance covering family

Cons

Bonus may be disappointing, you couldn't expect one month bonus in full.

Good benefits, maternity 2 months, dental care, Insurance covering family

January 19, 2020

See 6 more answers

December 30, 2019

Does Citi have a pension plan?

Pros

Good Benefits including health care, pension, working from home, good numbers of holidays a year

Cons

Very political environment. Many decisions by senior management seem to be driven purely by personal agendas rather than what is best for the company or clients.

Good Benefits including health care, pension, working from home, good numbers of holidays a year

December 30, 2019

See 12 more answers

December 28, 2019

Does Citi offer parental leave?

Pros

-The people. Some of the smartest, most driven individuals who care deeply about the work, and the culture is quite open: people seldom turn down a request for a personal meeting and they are generous with opening up the network to you. So this makes a huge company feel like a small place, which is amazing. Also, people are genuinely kind and empathetic as part of our culture, compared to a place like GS. -The work. Complex, rich challenges to tackle in all areas from talent to new product development to client experience and innovation, and really smart people you can tap to address those challenges - if you’re bored here, you’re not pushing yourself and you’re probably in your personal ‘comfort zone’. Great intellectual stimulation for those seeking that, and I found that in spades in the business. -The global reach. Citi has been in many countries for 100+ years, so the relationships with global partners run deep. Few companies can match that know how and this global connectivity is an undeniable competitive advantage vis-à-vis our competitors. -Benefits. Citi doesn’t pay at top of the market, but the other benefits are very competitive - including paid paternity leave, mental health benefits, and a variety of employee support programs. -Culture. Always depends on your manager and where in the business you work, but generally trends towards more family orientation and flexibility and work life balance. With new push to the “CitiWorks” model (no one has offices, open floor plan seating, etc.), more people work from home at least 1x week, which means company is moving in the right direction. Also, a massive focus on pay equity, diversity, etc. are huge plus.

Cons

-Culture. Yes, there is a less bright side: While people are open, there is poor change management capability (especially at the senior exec levels) so constant change by mandate is the norm - re-org after re-org and relentless cost-cutting measures and lay offs are the BAU... the result is heavy attrition of talented people and burnout for those who stay. -Internal mobility. While Citi historically prides itself as a great place to build global talent, the internal recruiting and mobility process is currently broken at best. Jobs often don’t go to most qualified candidates (it’s who you know - the employee engagement survey points to this), the process of applying for a new job internally usually takes several months (and there is lack of transparency/feedback in process, etc.) and if you have aspirations to move internationally, you’re pretty much on your own moving yourself/figuring it out unless you are an MD. -Slow to change. It’s a 200 year old bank, and the resistance to change runs deep. It is frustrating to see so many people with great ideas and those ideas getting dying in the vine constantly because: 1) key decisions are almost always made by senior leaders (meaning change leaders lower in the hierarchy are disempowered) , 2) company lacks the infrastructure to drive change: poor technology/productivity platforms, procurement processes are impossibly slow, etc. and 3) fear of failure - lots of saving face goes on, creating an environment where failure and experimentation are not welcome, therefore - innovation is stunted.

Advice to Management

Let go off some control: Empower your people: top-down decision making is killing this amazing company. You will not be able to move fast enough to keep up (much less outpace) the more nimble competitors in the market. Be transparent. Most people can get on board with big change if you would be more transparent and admit when things aren’t working - such as when you bring a senior leader on board who clearly isn’t what the bank needs, or when a major project becomes irrelevant. Don’t fear failure - people respect you more when you embrace errors and take a ‘test and learn’ strategy. Get bad managers out. Stop promoting people into management who have zero interest in developing others. Throughout my career across various products here (and in my previous company), I continuously saw bad managers staying in their seat, mostly not because they were bad people (quite the contrary), but because they did not have real managerial skills (and no interest in developing others), so they created toxic environments for their teams. I don’t think manager training is effective if people you are promoting don’t want to be managers - try selecting good managers instead.

Citi doesn’t pay at top of the market, but the other benefits are very competitive - including paid paternity leave, mental health benefits, and a variety of employee support programs.

December 28, 2019

See 6 more answers

May 2, 2020

Does Citi offer employee discounts?

Pros

- Universal US bank - Diversified business model - Strong customer franchise in Asia and Emerging Markets - Strong FICC business - Less aggressive work culture than peers - Focused on gender diversity

Cons

- Risk adverse compared to peers, particularly in credit risk - Appalling systems, even compared to European peers, let alone best in class US peers - Weak Equities business - Global Markets management dominated by Salomon alumni, tolerates insider mediocracy - Not a market leader, tends to follow rather than innovate - Large Emerging Markets discount compared to US peers - Warren Buffets owns stakes in all of the large US banks but not Citi (despite having previously been chairman of Salomon Brothers)

Advice to Management

There is a reason why Warren Buffett owns shares in all of the largest US banks except Citi

- Large Emerging Markets discount compared to US peers

May 2, 2020

See answer
  • 1
  • 2
  • 3
  • 4
  • 5

47 English questions out of 47