Please tell me which banks are the best to work for… ....

As a headhunter specialising in the banking industry, I frequently get the question from candidates: "Which banks are the best to work for?" While it appears straightforward, the answer involves multiple layers of complexity. Through my experience, I have developed a firm set of principles that guide my responses.

Before going into to much details. I've always asked the person in front of me what is important for you? Money, title, your clients...

It was during a discussion with a senior banker that the nuances of this topic became even clearer. We spoke about the endless shifts within the industry and the latest trends, but what stood out was how we both gravitated towards the same core values when defining the "best" banks. It’s not just about financial performance or global recognition. It’s about something far deeper—ethics, integrity, and respect.

The best banks put people first

The best banks are the ones that treat their employees well. This goes beyond offering competitive pay or fancy perks. It’s about creating a culture of respect, growth, and empowerment. These banks see their people as their greatest asset. They nurture talent, encourage development, and ensure their employees have a voice.

I hear a lot of comments from people working at various banks, and the feedback they provide is very telling. Additionally, the way a bank handles its interview process can reveal a great deal about how it treats its employees. These insights help identify the banks that truly value respect, growth, and empowerment within their culture.

Recently, I heard someone describe managers from a bank as "rogues," suggesting that their unconventional or reckless behavior is typical and acceptable. But this raises a critical question: Should we continue to accept questionable ethics just because it's seen as normal for "rogues"? It's so important to challenge these norms and ensure that all organisations, regardless of their culture or label, adhere to high ethical standards. Accepting unethical behavior under the guise of tradition or character is not only outdated but harmful, undermining the integrity of any institution.

A close second is how these banks treat their clients. It’s not just about providing excellent service, but about building relationships rooted in trust and transparency. The banks that do this well take a long-term approach, prioritising client satisfaction over quick wins. This approach creates loyalty, not just through transactions, but through meaningful, ethical partnerships.

Ethics are the fundamental link that ties these elements together.

Ethics are not just about compliance or ticking the right regulatory boxes. They are about doing what’s right, even when no one is watching. The best banks are those that actively choose to operate with integrity, even when it might be easier not to. They avoid the scandals and controversies that plague other institutions, and this consistency speaks volumes. It’s not uncommon to see that when a bank gets its ethics right, everything else tends to follow.

The role of exceptional managers

That said, I’ve seen time and time again that even when a bank doesn’t perfectly align with these criteria, there is sometimes a wildcard that changes the equation: an extraordinary manager.

Occasionally, I’ll come across a candidate and a bank that might not be an obvious match—perhaps the bank is still finding its footing or hasn’t quite lived up to some of the benchmarks I’ve laid out.

But then there’s that one manager. A person who stands out for their leadership, vision, and values. Someone who has the ability to create an incredible working environment, even within a structure that may not yet be ideal. These managers can make all the difference. In such cases, I often recommend the role because the candidate and this manager together could be a perfect fit.

In many cases, it’s an exceptional manager who transforms an opportunity from good to great. I’ve seen candidates flourish in these situations, precisely because of that one person who embodies the ethics and care that the larger organisation might still be working towards.

However, it’s crucial to weigh the pros and cons of joining a bank based solely on the merits of a great manager. Managers can move on, and the dynamics within the bank might shift. When accepting a position, it’s supposed to be for the long haul. So, don’t rush. Do your homework thoroughly and make an informed decision. Take the time to assess not just the immediate benefits but also the long-term stability and culture of the organisation. This approach ensures you’re making a choice that aligns with your career goals and values in the long run.

The bottom line

When candidates ask me about the best banks to work for, I point them towards those institutions that prioritise people—employees, clients, and providers alike. Banks that operate with ethics and integrity are often the ones that stand the test of time, both in terms of reputation and employee satisfaction. But I also remind them to look out for exceptional managers within these organisations—because sometimes, that can be the game-changer that makes all the difference.

At the end of the day, the best banks are the ones where you can grow, be treated with respect, and contribute to something meaningful. And isn’t that what everyone is looking for?

Have a great week

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