First Merchants – Everyone is very friendly and helpful | Comparably
First Merchants Bank Opens in Fitzgerald Neighborhood!
First Merchants Claimed Company
For consumers and businesses and all customers, First Merchants Bank delivers uniquely attentive service across a broad range of financial services. As a community bank with a strong positive reputation, we approach all customer relationships with a genuine “helping you prosper” service approach. read more
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EMPLOYEE
PARTICIPANTS
1597
TOTAL
RATINGS
46339

Everyone is very friendly and helpful

What do you like best about the leadership team?

They've been communicating well recently.

What do your coworkers need to improve and how could you work together better?

Less politics and interpersonal drama

What does the leadership team need to get better at?

Need to focus on other growth strategies outside of acquisitions

What needs to change to make the company culture better?

People need to be less focused on "what they own" and be more focused on having success as an org.

Why do you feel undervalued and what would make you feel better about your compensation?

Our health benefits are the worst that I've ever had at a job. For my role, my pay is not competitive with the market.

Why do you feel undervalued and what would make you feel better about your compensation?

Been here several years with only a small increase YOY, and my salary is well behind what the market could pay at another company

What do your coworkers need to improve and how could you work together better?

There are some very bright and driven people here, but many are not motivated and morale is fairly low across the teams I interact with.

What do you like best about the leadership team?

The leadership team which I report up through in the Consumer Bank is great. They are strategic, assertive, focused on driving positive change, and treat their teams well.

What needs to change to make the company culture better?

Leadership and processes are too stuck in an antiquated way of thinking. We need to be more innovative and forward-focused. Our processes and employee tools / resources are very outdated.

Why do you feel undervalued and what would make you feel better about your compensation?

I am underpaid based on what my role makes in the marketplace. Also, the budget for hiring new roles in my field is not sufficient to get high-quality employees with experience.

What do your coworkers need to improve and how could you work together better?

We are too focused on executing "tactics" and not focused enough on solving problems. Most people do "what is easy" and not "what is right" because doing what is right takes more work.

What is most positive about the culture and environment at your company?

Our team has a great culture and has great people, but we do not fit in with the rest of the company. We are trying to do what is right, but the company keeps pushing back.

What does the leadership team need to get better at?

Our leadership team needs to get better at strategy. This company has no strategic alignment, and instead they focus on developing tactics and solutions. Our only strategy is acquisition, but the rest of the house is falling apart.

What does the leadership team need to get better at?

The leadership team is getting better at setting goals, but they are still unclear and vague how the company is supposed to focus to achieve them - lots up for interpretation. Also, they need to be more relatable.

What do your coworkers need to improve and how could you work together better?

The general approach and attitude of employees is very self-interested. Many do not work together well as a team, and there is a focus on doing what is "easy" and not on "what is right for the customer."

What do your coworkers need to improve and how could you work together better?

Many of the coworkers have old school mentalities and simply do what they've always done without evolving with modern needs, expectations, capabilities, technologies, etc. When I first started here, I was underwhelmed with the expertise exhibited by many - particularly in tech.

What do your coworkers need to improve and how could you work together better?

Generally, people are trying to do work that is "good enough" and just get through the day. We are not focused on delivering high-quality or innovative work. People are fairly stagnant and just want their jobs to be "easy" instead of productive.

What does the leadership team need to get better at?

Our technology is absolutely terrible. The gear, the network, the organization, and the tech leadership is going to be the downfall of this organization. We are not supporting our bankers or our customers from a technology standpoint. It's severely outdated and poorly built.

What's going wrong and how can it be improved?

We are decades behind customer expectations. Our IT infrastructure is nebulous and poorly executed. Our vendor-supported customer platforms are outdated, clunky, and difficult to use. Most of our customer population is aged, and we are not doing anything to meet modern-day customer expectations.

What does the leadership team need to get better at?

Strategy. The company seems to focus on acquisitions as the sole growth vehicle, and we are losing customers because we don't spend time, effort, and care in developing a growth or retention strategy. We lose customers as fast as we get them. Not sustainable.

Why do you feel undervalued and what would make you feel better about your compensation?

In my role in other industries (and my role is industry-agnostic), I could be making an additional $50-60k additional on my base salary. I lose candidates to join my team all the team because our pay is about 25% lower than the industry averages.

What do your coworkers need to improve and how could you work together better?

The coworkers in my department are great! Some of the cross-functional teams which I interact with on a daily basis are unexperienced, unmotivated, and immature. I consistently deal with pettiness and territorial people. It hinders the company's ability to execute on new and important initiatives.

What needs to change to make the company culture better?

We need goals and a strategy to rally behind. We need to ramp up our expertise, we need more / better data to inform our decision-making, we need to feel like we are making the changes that are needed to achieve forward momentum for the bank.

What's going wrong and how can it be improved?

We are making small bits of progress here and there, but the bank needs to modernize. We need to understand our customers better, we need to provide them with better solutions, and we need to provide our employees with better tools that are easier to use.

Why do you feel undervalued and what would make you feel better about your compensation?

In my role, I am undercompensated when compared to the market. The new roles on my team are not given compensation for me to recruit competitive talent. Our department is drastically underfunded and undervalued when it comes to shaping the ecosystem that our customers expect from a modern bank.

What needs to change to make the company culture better?

Some teams (not within the Consumer Bank) need to be more open to collaboration and need to accept when they have shortcomings. There is a lot of jockeying for control, a ton of politics, and people are not willing to share information, data, or processes. Territorialness is choking our progress.

What needs to change to make the company culture better?

We need to be focused on strategy, high-quality work, and be open to new ideas. We shut down ideas before they even have a chance because we are a "small" bank without any budget. People are stuck in the mindset of "we do it that way because we always have."

Why do you feel undervalued and what would make you feel better about your compensation?

I have been here for several years, I get great reviews, consistently positive feedback from colleagues / executives, but have never received an increase beyond 2%. I have also never been permitted to give one of my employees an increase. We need better pay. The market pays way better for my role.

Why do you feel undervalued and what would make you feel better about your compensation?

The market has changed and our salaries have not kept up with the changing demand in my specialty or with inflation. Most of the candidates I interview for roles on my team are at par or higher than the director's salary I receive. I could easily make 20-30% more if I sought an opportunity outside.

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