Societe Generale

Also Known As: SocGen, Societe Generale

Consumer Banking

VAULT RANKINGS 2013

#16 Prestige

#18 Vault European Banking 25

GENERAL INFO

Headquarters: Paris, France
82 offices
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THE BUZZ…

“Strong investment banking division—very selective”
“Trading scam; hurt by Kerviel”
“Very good in derivatives”
“Haughty French”

NEWS AND UPDATES

Vault's Scoop

Uppers

Good opportunities both to switch teams and focus
Weekend work is rare

Downers

Seniority counts more than it should
Career progression not as rapid as desired

ABOUT THIS COMPANY:

A bank decreed

French banking giant Société Générale was formed by a decree signed by France’s then-emperor Napoleon III on 4 May 1864, founding the firm in order to “foster the development of trade and industry in France.” During the past two centuries, that’s what Société Générale has done.

Société Générale fast evolved into a leading European financial services company and a major player in the global market. The firm began its international expansion in 1871 with the opening of a London branch. By 1913, the booming banking powerhouse had established 1,400 branches and established itself as a network bank. The company remained private until 1945, when the bank’s capital stock passed into the hands of the French government. Then in 1970, Société Générale stepped up its international development, concentrating on Asia and Eastern Europe. Ten years later, in 1980, the bank had branches in 54 countries. At end-March 2009, GIMS (Global Investment Management & Services) had €332 billion in assets under management, €2,762 billion in assets under custody and €8.8 billion in direct banking.

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SocGen SALARIES

Societe Generale salary & compensation reviews include all signing and year-end bonuses, vacation time and other perks and reimbursements that make up total compensation.

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SocGen SURVEY SAYS

Where diversity is key

The office culture is quite diverse, and depends on which team you fall into and who your manager happens to be, a worker in Paris says, adding, “I’ve had three different managers, and feel like the culture, hours and career growth differed amongst the three.” On the whole “hours vary a lot,” he adds. “Don’t expect a 35-hour week; it’s more like 50 to 60 hours, with peaks being higher. Weekend work is rare, however. You actually need your boss’s permission to do work on the weekend.”

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DISCUSSIONS

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Getting Hired

Tips from the inside

Name drop

Société Générale recruits actively in France as well as internationally. In its home country, the group’s approach is based on pre-recruitment via work-study programmes and internships within various business lines and sales training. These programmes are offered to more than 1,000 graduates yearly. The placement may be part of a sandwich course or an initial posting immediately after your degree, lasting three to six months or more. A significant proportion of trainees are offered a permanent position at the end of their placement, staying on to pursue their careers in one of the bank’s many different fields. More information can be found at careers.socgen.com/groupe/en/evolving/students-1.html.

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