Truist is an American banking company, also known as Truist Financial.
They are headquartered in North Carolina and only operate within the U.S.
Truist was created in 2019, when BB&T (Branch Baking Trust and Company), and Suntrust Bank merged into Truist.
As of 2021, Truist was the 10th largest bank in America.
Table of Contents
- Pros of Working for Truist
- Cons of Working for Truist
- 16 Pros and Cons of Working for Truist – Summary Table
- Should You Work for Truist?
Pros of Working for Truist
1. Tuition Assistance
One benefit of working for Truist is tuition assistance.
If you’d like to continue your education, Truist is committed to helping.
The company provides $10,000 a year in tuition assistance for employees.
The benefit doesn’t stop there.
Family members of employees can receive $2,500 a year towards their education expenses.
2. 401K and Pension
Truist also helps you plan for retirement.
You are eligible for the company’s 401K program from the day you become an employee.
After one year of work, the company will match contributions, as long as you’ve worked at least 1,000 hours during the year, and are 21 or older.
Truist will match 100% of your contributions, up to 6% of your yearly income.
Despite being a relatively new company, Truist has some old-fashioned values.
Few companies today offer a pension plan, but Truist is one of them.
Your pension benefits will depend on your years of service, and your pay rate.
You are fully vested after 5 years of working for the company.
You can access your pension benefits at 55, as long as you have 10 years of service with the company.
These factors make Truist a good choice if you are looking for a long term employer that will help you fund your retirement.
3. Flexible or Remote Work
Truist also offers flexible or remote work for some positions.
Employees are allowed to work at home or in-office based on their needs and preferences.
This flexibility is a big benefit to many employees, who prefer not to go into the office every day.
Employees note that many positions are now considered flexible or hybrid.
This means workers are required to come into the office 2 or 3 days a week, but can work remotely on other days.
4. Insurance and Benefits
Truist puts a significant amount of effort into offering great insurance and other benefits to their employees.
They offer the standard medical, dental, and vision policies.
They also offer telehealth and virtual physical therapy, so you can access medical care in the convenience of your own home.
Case management is also offered free of charge.
This is essentially a healthcare professional that works with you to connect you with resources, explain diagnosis and conditions, coordinate care, and help you meet your health care goals.
5. Support for families
Truist provides support for families in several ways that can enrich your life.
Many facilities offer on-site childcare.
Those that don’t offer childcare assistance, which makes it easier for you to maintain a job and a family.
School aged children can receive help with test prep and tutoring.
Truist also offers time off for new parents.
Mothers receive 10 weeks of maternity leave, and all parents are eligible for 10 weeks of parental leave.
This includes adoption and fathers.
Another way the company supports parents is with coaching and fertility planning that can take you through trying to conceive and into parenthood.
If you struggle with fertility, Progyny provides coverage for fertility treatments and a patient care advocate to help you through the journey.
6. Mental and Physical Health Support
Truist aims to help its employees and their families stay healthy both mentally and physically.
Some facilities have an onsite fitness center, so you can meet your fitness goals.
All sites also offer onsite healthcare.
This can allow you to get the medical care you need without making a trip to the doctors office.
If you are traveling, you can visit any Truist health center, regardless of which office you work for.
The company also offers a variety of mental health benefits.
You can get on-site mental health care, and anonymous counseling services free of charge.
Other benefits include the Calm app, and MyStrength which can help you manage stress, insomnia, depression, and more.
7. Diversity and Resource Groups
Truist is strongly committed to diversity, equity, and inclusion.
In 2020, they received a 100% on the Human Rights Campaigns Corporate Equality Index.
They also signed PwC’s CEO Action for Diversity & Inclusion pledge in 2020, which pledges to advance diversity and inclusion in the workplace.
In addition, they joined the Business Coalition for the Equality Act, which focuses on providing equal rights to all employees.
Their focus on diversity extends all the way to the top of the ladder.
Truist’s board of directors is comprised of 45% ethnic minorities or women.
Diversity in leadership roles has been increased from 12% to 15% in the previous 3 years.
All employees are required to complete diversity training.
Truist also offers 8 resource groups to support minorities and help them meet their career goals.
These groups have more than 10,000 members.
8. Friendly Coworkers
Many employees state that one of the benefits of working at Truist is friendly coworkers.
Employees say that they enjoy working with their coworkers, and often consider it one of the best parts of their job.
Having a good relationship with co-workers can improve productivity and increase employee satisfaction, so this benefit is far from frivolous.
Cons of Working for Truist
1. High Stress
Employees state that Truist is a high-stress career, regardless of the department you choose to work in.
Some people thrive in a high-stress environment, but it’s not right for everyone.
2. Heavy Workload
Along with a high-stress work environment, working at Truist typically comes with heavy workload.
Employees are expected to be very productive, and the expectations can be very difficult to meet.
Some employees state that employees willing to work hard are given more work to compensate for those who don’t.
Other employees note that management can be completely unaware of the workload their employees have, and fail to support them properly.
3. Performance Evaluations
Employees have a few complaints about Truist’s performance evaluations.
They say being short-staffed is common, and this isn’t considered when management looks at performance metrics.
Another issue is that if you work with customers, how the customer feels about Truist has a greater impact than how well you perform your job.
If a customer gives you a great review, and has a complaint about the company or branch location, this reflects poorly on you.
Lastly, bonuses are provided for meeting performance metrics.
However, these are given on a team level.
If an individual meets or exceeds their performance goals, but the team falls short, the employee doesn’t get a bonus.
4. Frequent Changes
Employees state that there are frequent changes at Truist, and not always for the better.
If you prefer stability, then Truist may not be the best workplace for you.
There’s an element of unpredictability because things change so often.
5. No Focus on Employee Retention
Another common complaint among Truist employees is that there’s little to no focus on employee retention.
It seems the company does a good job of recruiting new employees, but tend to forget about their current workers.
6. Lack of Advancement Opportunities
Employees often state that getting promoted is difficult at Truist.
They state that working hard is no guarantee that you will advance at the company.
This is a problem at many companies.
Unfortunately, higher-level positions are limited, which does make it harder to move up.
7. Little Concern for Clients or Customer Service
Employees involved in working with clients or customers states that Truist shows little concern for them.
The company seems to focus heavily on stakeholders, with poor regard for their customers.
This can make it hard for employees to do their jobs.
It can also affect their performance ratings, which are tied to how customers view the company.
8. Pay Isn’t Competitive
Truist does offer good benefits, but many employees complain about the pay they receive.
The lowest-paid position at Truist is operations specialist.
This position pays $31,000 at Truist, which is 27% less than the national average salary for this position.
Comparably states that Truist is in the bottom 35% of similar-sized companies when it comes to compensation.
Only 49% of employees feel that they are paid fairly for the work that they do.
16 Pros and Cons of Working for Truist – Summary Table
|Pros of Working for Truist||Cons of Working for Truist|
|1. Tuition Assistance||1. High Stress|
|2. 401K and Pension||2. Heavy Workload|
|3. Flexible or Remote Work||3. Performance Evaluations|
|4. Insurance and Benefits||4. Frequent Changes|
|5. Support for families||5. No Focus on Employee Retention|
|6. Mental and Physical Health Support||6. Lack of Advancement Opportunities|
|7. Diversity and Resource Groups||7. Little Concern for Clients or Customer Service|
|8. Friendly Coworkers||8. Pay Isn't Competitive|
Should You Work for Truist?
Truist can be a rewarding place to work, but it’s not for everyone.
The company offers good benefits, and works hard to be diverse and inclusive.
If you are looking for a company that you can retire from down the road, you should certainly consider Truist, because of their 401K and pension plans.
The company also offers a wide range of other benefits, including mental health support and tuition assistance.
However, there are concerns about performance and compensation at the company.
Many employees also have an issue with the workload they are given, and feel unsupported and unappreciated by management.