Pros
Starting point to get your door into the industry. Once you are in a lending unit, you gotta figure everything out for yourself. I mean this quite literally. Having said that, there's a very good opportunity to learn a lot about the fundamentals of lending. From loan origination, customer meet/greet, financial analysis, loan funding, due diligence, etc. You can learn it all, but its on you. Standard benefit package is not as great as people make it out to be. ALL banks offer similar if not superior benefit package to their employees. SVP's and above are indeed paid market rates... they have to be or they will hop companies in a heartbeat.
Cons
1) Salary: This is self-explanatory. The company is currently hemorrhaging good, talented Loan Officers who have been with the company for many years. Upper management doesn't care for the time being as loan productions are meeting quota. Having said that, LA Metro is 1-cycle away (1-3 years) from a real estate adjustment. This bank's loan portfolio is about 90% CRE. Once the market adjusts, Special Assets Department is going to be looking to recruit some folks. 2) Culture: This company is ultimately managed by old bankers from a different time and place. Period. As long as the 1980's Korean-Banker mentality is still entrenched in core management (VP-SVP), you WILL keep seeing talented people leave. Smart people ain't got time for that BS. Demand for experienced LO's (which to BOH's credit, they do produce) is sky-high right now. You ever wonder why the vacancy rate at BOH is so high? They ask for too much rent while offering little in return. It's like the Jamison Services of Banking. 3) Work/Life Balance: As others have stated -it's not a matter of when you come into the office, it's a matter of when people see you leave. It's a cultural thing that hasn't changed for many years.
