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BANKS - skeletons in their closet
The Phantom
#1 Posted : Wednesday, May 26, 2010 2:55:05 AM
Rank: Member

Joined: 10/16/2008
Posts: 56
Met an old campus friend sometime this week and we got chatting up.
He got into the banking industry after college and the stories he told me about how banks pay their fresh graduates shocked me beyond disbelief.
Apparently Eqeetee tops the rank of worst paying bank considering the billions they make. 25K for a fresh graduate with no allowances plus stress levels that make you an eligible candidate for mathare after every work day. Add a grooming loan of which they are charged interestShame on you (the nerve)
Bah-clays introduced a new low of 10k for their on-contract-graduates who do sales for them. 10K???
Kay-Rep is just a story fit for a horror movie.
Anyone who’s made it in the banking industry …did u start from such lows?
......If you talk to a man in a language he understands, that goes to his head. If you talk to him in his language, that goes to his heart....
chepkel
#2 Posted : Wednesday, May 26, 2010 7:48:19 AM
Rank: Member

Joined: 4/6/2010
Posts: 741
Location: Nairobi
i have heard of the Eqeetee guys and it is really bad
The Real Shaft
#3 Posted : Wednesday, May 26, 2010 9:39:48 AM
Rank: Veteran

Joined: 11/19/2008
Posts: 839
i thought you were to share with us....

bones....!!!!
I'm the real Massey Fergu...... Shut your mouth....
Wendz
#4 Posted : Wednesday, May 26, 2010 10:19:07 AM
Rank: Elder

Joined: 6/19/2008
Posts: 4,268
Its a market. willing buyer willing seller...... The question whether this is ethical is another story.

I think the trick for any 1st job and especially for fresh graduates is not to fall in love with your employer. Let the first job be your 4th/5th year in college only that this time you are being paid to learn. Experience and not the money par se should be the key.... after 1 year or so, jump out..... thats where you start building your career. if you are stuck with your 1st employer for the last 5 years and you joined as a fresh graduate, then you are doing yourself great disservice.

For the old guards, like me, we are allowed to say on till death or retirement do us part! LOL ;))))(am kidding).
chikita
#5 Posted : Wednesday, May 26, 2010 10:27:49 AM
Rank: New-farer

Joined: 2/18/2010
Posts: 94
Location: Nairobi
Wendz, as much as i agree its a willing buyer willing seller situation, the banks are clearly taking advantage. and on top of that they give some impossible targets!

BBK pays a measly 10k and expects you to dress like an exec!!!!
mlefu
#6 Posted : Wednesday, May 26, 2010 12:19:32 PM
Rank: Elder

Joined: 2/11/2007
Posts: 1,680
Location: nairobi
10k for a fresh graduate is more than enough...as for Wendz and the rest of my house...till retirement do us apart...still wanted to retire at 35 till i heard this from my beloved Kibaki "sio ati kila usiku ya pili ya tatu kazi yako ni kuproduce watoto, kwani hauna kazi ingine...ABK"
The Phantom
#7 Posted : Wednesday, May 26, 2010 1:50:41 PM
Rank: Member

Joined: 10/16/2008
Posts: 56
mlefu that was a good one from Ubako Laughing out loudly
But gotta agree with chikita.There is just a level of taking advantage that is so immoral!!
I still get shivers thinking of having 10k for a salo!!
hata bijuti ya njunge dont survive on that!!
......If you talk to a man in a language he understands, that goes to his head. If you talk to him in his language, that goes to his heart....
kingfisher
#8 Posted : Wednesday, May 26, 2010 2:03:22 PM
Rank: Elder

Joined: 4/9/2008
Posts: 2,824
its surely a pathetic situation to be in, but has @wendz has said, there is always a starting point and that is what it is.

Actually it helps resolve the problem called "deadlock", which is the worst nightmare for new job seekers.
When I have money, I get rid of it quickly, lest it find a way into my heart.
tony stark
#9 Posted : Monday, May 31, 2010 2:00:27 PM
Rank: Veteran

Joined: 7/8/2008
Posts: 947
10K is alot of money! It is neither immoral, illegal or unethical. It is way above the minimum wage of 6310. The rest of their pay comes from commission from whatever it is they are meant to sell. The 25k from equity is good money. If you think you deserve more is not the issue even carlos slim thinks he deserves more. The issue is can you get more and if you can go get it!!!
Amir
#10 Posted : Monday, May 31, 2010 3:31:05 PM
Rank: New-farer

Joined: 3/15/2010
Posts: 88
Location: sudan
This thread reminds me a guy who was employed by Stanchart bak in the late 90's n there was armed robbery whea every cashier emptied his/her till.Luckily for him his till was not emptied but tha stupid fella gave the branch manager the cash, he was rewarded with 50k for being a gud employee.Three months down the line he was sacked.
Talk of wasted opportunity haki angekuwa Mugikuyu sijui niseme nini.....

The Brave may not live forever - but the cautious do not live at all: Richard Branson
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