financial representative

Money Mart Financial Services

I started working for the company in 2021 with zero financial experience and I think it’s safe to say that the training that they provide as a new CSR does not really provide you with much knowledge. You’re kind of just thrown in there with out much to prepare for. But as you do transactions you’ll start to learn more about the job and gain more knowledge about finances in general which I would say has really really helped me as my first financial role. I also don’t find that the company has many growth opportunities. There are many managers and district managers who have been trained but have not been able to attain their role because of a lack of vacancy, and this has taken  years… also the pay is not enough you could work 40 hours a week to only make $1100 biweekly to which they will reply that you should rely on your bonuses but the bonuses criteria are very high and it’s not guaranteed that you’ll even exceed it and if you do, after taxes you might get 10% of the required bonus. Overall I think it is a great start up company to learn about finances however living in an economy where the cost-of-living is very high it is very hard to depend on this job alone or to even have hopes to advance in the company   

A typical day consists of serving customers and processing loans, making collection calls, cold sales calls and filing paperwork. 
The hardest part of the job is being told by management that we have to push both Payday loans and Installment loans (in Nova Scotia where both are legal) to people who don't make much money and are struggling financially. Management will say that this is helping those who are struggling and can't get loans from banks. This is sometimes true but, for the most part, the customers I served were repeat customers.

The repeat customers are in every two weeks/payday to repay their previous payday loan (with massive interest fees) and reborrow (otherwise they'd be broke).
The customers who have Installment loans (most of the time with a 46.9% APR) come in every 3 months to refinance that loan. If they don't come in, we are pressured to call them to get them to refinance. 

The most enjoyable part of the job is when it is a slow day and you are working alone or with a co-worker you enjoy being around. 

Pros:

Good environment to learn the financial services and operations side of the business. I picked up real skills in transaction review, risk assessment, and fraud prevention that have stayed useful in my career.
Supportive coworkers and team leads who were generally willing to help when questions came up.
Clear processes and structure, which made it easy to know what was expected day to day.
Decent exposure across different functions, which kept the work from feeling repetitive.

Cons:

Pay was on the lower side for the level of responsibility and the volume of work involved.
Limited room for advancement; growth opportunities felt slow unless a specific role opened up.
Can be high-pressure and fast-paced during busy periods, which isn't for everyone.

Advice to Management:
Invest a bit more in retaining good people through clearer career paths and competitive pay. The teams work hard and a little more recognition and growth opportunity would go a long way.

This is possibly the worst place anyone could ever work. It is like signing your life over to the devil. The hours are horrible. The work life balance is disgusting. Only Upper management and District Managers see some sort of balance. You do not get compensated according to how you work. There are times when you don't even see a raise for over sometimes 2-
3 years. The upper management personnel(not all but a vast majority of them - are trash). After years of service and servitude you will leave feeling unaccomplished at anything in life. My best bet for anyone seeking to have a career with this company is to allow a time span of 6 months to a year, no longer within any job roll; unless being paid a significant income      ( bonus / travel perks or otherwise to elapsed). Do not allow 3 years to surpass as that is when one will completely be trapped.

$16.50/hr isnt actually bad because its not a hard job to begin with.
Threatening comments is never a motivation.  I know the company has goals, all company has, but threatening remarks just dnt help no one.  If you want to bring out the best from your employees, management needs to start from themselves.  Also, we are in the middle of pandemic, year end goals should be changed because it doesn't reflect whats going on right now.  Its not fair to compare the goals this year compared to last years profits.  I feel the company isnt really helping the customers by pushing for loans where they dont have jobs to begin with.  I really enjoyed working there but the stress and threatening comments of me losing my job if I dnt meet my monthly target isnt really worth it.
Thanks but no thanks🙂

It is horrible the company nor the management care about their employees they are selfish and they think they are superior. You will never have a balance in work and home because your hours reflect around what the manager does. If you are not listening to them talk about themselves to build their self esteem or show no interest in how superior they think they are then you get picked on. They don’t care if you are unable to work they make you go in because they don’t care. If you enjoy being locked up for 8-12 hours alone everyday and if something happened to you while working nobody can get in not even the manager. 

I worked for money Mart for 3 1/2 years. The things I have seen and the swears I have heard towards me. The worst thing is you work so hard and meet your goals and carry your team and all you get is an extra 500$ a quarter- not worth it. They pay garbage for the amount of work you have to put in. Working there is not for the faint of heart. It will break you 
There is no room for development of career unless you want to be management. 

What is the best part of working at the company?
I don’t have to be up early as store manager was willing to work opens well I work closing 

What is the most stressful part about working at the company?
Store manager and district manager and regional manager are not all on same page always getting different story’s 

What is the work environment and culture like at the company?
Poor always feel like your doing nothing right

Awful place to work. The management had such a hierarchy and would have favourites that they promote. They would make you work overtime and if you said no they would shame you and make you feel bad. They are always low staff, expect to work at least one 12 hour shift a week and many many days in a row. The customers are HORRIBLE, think of the worst people you know and group them into one, that is your customer. Good luck, no one ever last long unless theyre a sociopath.

What is the best part of working at the company?
Working alone and it's not busy.

What is the most stressful part about working at the company?
Working alone and it's so busy.

What is the work environment and culture like at the company?
Stressful work and managers are not helpful.

What is a typical day like for you at the company?
Calls calls and more calls.....

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