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
This year has been disillusioning. I was taken aback by the pay bump that I was offered when applying to move up in the company and even more so after going through reviews/raises and getting the new payment plan. The people are why I started with this company and are now the sole reason I stay.
Briefly describe your overall experience at your company
I believe FMB to be a great company with great values but there are factors that explain the turnover after a few years with the company. The combination of losing things we can earn points for, decrease in benefits, and below market raises makes you question if the environment makes up for the pay.
What is most positive about the culture and environment at your company?
First Merchants provides us with many opportunities to give back to the community. One of the most important things to me is philanthropy, so being a part of a company that also considers this important is necessary.
What are some of the best things about your team?
I love that my team consists of personable people. I believe that my team cares about the wellbeing of our customers. I also love to hang out with my team outside of work and that it is encouraged to do so.
What do you like best about the leadership team?
I feel like my leadership team is interested in my opinions and I feel like I can have a conversation with them about anything in person, reaching some leaders who I do not immediately report to however has not been the easiest.
What is most positive about the culture and environment at your company?
Our philanthropy and push to give back to the community is something I love about our company. I frequently get invites and notifications of volunteer events and FMB encourages us to bring volunteer opportunities to the bank that we may be participating in.
What do you like best about the leadership team?
The people at First Merchants will always be our best resource. We do a great job of hiring personable people who care about their customers and team members. I have worked with other financial institutions and First Merchants has felt the most like they care about my personal well being
Why do you feel undervalued and what would make you feel better about your compensation?
This past year we have had a change in our dental insurance provider, lost the ability to be cashed out for our remaining PTO, lost monthly commissions, and had the duties that are counted for commissions reduced. With below market raises it's hard to feel like you make more the longer you are here.
What's going wrong and how can it be improved?
Of the daily duties I complete I can only receive points toward my goals for loan origination, opening new accounts (but not all accounts), referrals to some of our partner departments, and charging fees. I fear this may cause some to not want to aide in those duties and the customers will pay forit
What makes you most happy at work?
The people I interact with on a regular basis are integral to my happiness with First Merchants. I find that a positive work environment can make up for a lot of the things like basic level benefits and low pay. Customers enjoy coming to our bank and for the most part enjoy using our services.
Why do you feel undervalued and what would make you feel better about your compensation?
We have gone through a change in pay model that took away incentive points on a few accounts while also changing the frequency in which we are paid out. When I went through my 2023 review, I received average rating and a 2% raise when my production showed over 200%. I am unmotivated by compensation.
What are some of the best things about your team?
First Merchants does a great job of hiring people that care about their customers and their team members. It is very easy to train and coach my team with them being such open people. I can spend time with my team members outside of work and will invite them to personal events due to our relationshp
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