Fairstone
Happiness score is 44 out of 100
3.7 out of 5 stars.
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Fairstone Employee Reviews

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Location
Canada150 reviews

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3.6Work-life balance

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Rewarding career, and exciting fun people

Featured review

Fairstone selected this as a representative review
A lot of these negative reviews are from people who didn't have what it takes. Good job to build on your selling skills. Sales job at the end of day. Good pay, good benefits, training is improving and the desire to motivate and reward employees has always been there.

Pros

Fun work environment, career advancement.

Cons

Long Term Disability is mandatory
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Official response from Fairstone

26 February 2019
Thanks for sharing your experience working at Fairstone! We are glad to hear you had a positive experience working with us. As you know, Fairstone prides itself in creating an environment where employees can grow and develop; to get there, we’re continually working on our training, support, and incentive programs.

Horrible work environment

They pretend that they care about the customers but they don't. This was seen during the height of the pandemic when we were forced to still make house calls and bombard customers with multi calls per day regarding their debt most of these people had been layer off. Work environment was toxic the 3 other employees including the branch manager would often speak to each other in their language which made me feel excluded. The only way you will get your bonus is if you pressure customers into getting the insurances which increases the customers monthly payments by 100's of dollars.
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Insights into Fairstone

Based on 49 survey responses
Areas for improvement
  • General feeling of work happiness
  • Overall satisfaction
  • Energizing work tasks

Apart from pay, everything else is ok

if base pay was more, i wouldnt complain. you get what you give. every branch operates differently so might fall into a good or less good one. definitely not for everyone and for a lot of people it usually is short term or a stepping stone to something else or a pause point until the next move
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Good Place to work

I am really happy to work with Fairstone . The working environment is really good. Each & every employees of this organization are very helpful. I never feel tired to work with Fairstone. In a word you can define Fairstone as a compliant organization.
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Official response from Fairstone

25 October 2022
Thank you for your great feedback! We put a lot of efforts in ensuring that everyone at Fairstone can enjoy a rewarding and energizing work environment, and we put equally as much effort on our compliance processes! We hope you continue to work and grow with us for many years to come.

The worst career decision you could possibly make

Absolutely, do not, under any circumstances take employment with this company. First, you'll be lied to about wage, bonus and earning potential. Second, I have never experienced such a emotionally draining, unfulfilling, stressful or thankless job in my life. Why put any effect into a job that doesn't pay more if you beat your sales goals?Third, the provided office equipment was worse for my body than a construction job. Half the staff needed physio treatments because of this stationary job, including myself. Nothing like investing time into an 8:30-5:30, where you can be miserable all day, lie to customers all day about how "wonderful" a 39.99% loan is, and convince them that it will solve their financial problems. I started looking for a replacement job 2 weeks into this job, and will regret my time here forever. At least I learned one thing : what not to do with my money now that I'm making a real, good wage. The pay from Fairstone was terrible, and I got screwed over on 2 paychecks. I tried to address the issue, and the payroll department stopped responding. A fairstone loan is a bandage on a festering financial wound that would otherwise call for an amputation. It is, literally, one of the worst things you could do with your money.
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Official response from Fairstone

25 October 2022
While it is unfortunate that you did not enjoy your time with us, we strongly believe that your experience was far from typical and represents neither the daily life of our teams nor the services we provide to our customers. As a company, we never tolerate any behavior that negatively impacts our customers, who remain at the heart of everything we do. We offer a transparent, individualized service to every single customer who chooses us for their financial needs. Nevertheless, we wish you much success in your future endeavours.

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Over worked

Work home life is ok, over worked to the point where stress made me have to need a month off. Some mangers are to up tight and not knowing how to train. For the work we have to do they do not pay enough.

Pros

Over worked

Cons

Salary too low
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Official response from Fairstone

25 October 2022
Thank you for telling us about your experience; we are sorry to hear about your situation. We deeply value the mental health of our employees and strive to support it by providing an array of services such as Dialogue and the Employee Assistance Program. If you have any questions about the programs available to you, please contact your Benefits team. Plus, if you feel like you need more tools or training to do your work efficiently, we invite you to visit the Learning & Development page on the intranet to see all the free courses you can register to or request a new one. Once again, thank you for posting!

Love working with Fairstone

If you love numbers, then you must join fairstone.It is a very good platform to learn new things and grow more.I really like working with them. They have brand name all over canada and now it has become bank so now we can say we work with Fairstone Bank.

Pros

Incentives

Cons

Daily Target
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Liberal workspace

Definitely a liberal workspace Growth in a company is bit slot but you have job security for sure There is some flexibility, I personally feel like government job
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i have laerned alot while working at fairstone

it's good for entry-level or someone who wants to grow their career, nice environment, and very understandable management, the salary was low, overall it was a good experience.
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Customer service organization is lacking

While working in customer service you're controlled every minute of your shift. You have to write in the chat when you're taking a break (which is fair since there's a schedule) or even when you're in need of going to the restroom. If you fail to do so and you switch your status from online to offline without prior notice they will manually change your status back to online and ask you tons of questions. This type of micromanaging is whack and disrespectful to your colleagues. There are other and better ways to control the department functionality and smoothness.
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Official response from Fairstone

8 August 2022
Thank you for your valuable feedback. We’re sorry to hear about your experience. We want to ensure our employees enjoy meaningful work experiences at Fairstone. It's important for us to maintain healthy and supportive workplaces, so we encourage you to reach out to your Human Resources Business Partner to raise any concerns. We always value feedback from our employees, so thanks again.

Productive, very fast paced didn't need to always be tole that you did it wrong, not ve4y encouraging from manager

Routine is general. And repetative, rules i. Place for how many times you could phone an undividual thou a3ay around it wasnot to leave a message. I realizr that their is a ned for this usi ess though I would like to know how many people left.
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Stressful

It’s a hardcore sales job with no training provided whatsoever. Some people would even try to bully you and throw bad words at you because if their seniority.
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Official response from Fairstone

8 August 2022
Thank you for your comments. We don’t believe your experience at Fairstone was typical. Fairstone works hard to support a positive work environment for all employees. We have policies and programs to help employees develop the skills they need to excel in their jobs, including training, mentorship and more. We support our employees: everyone is provided with access to supports, such as an employee assistance program, ethics line, an annual, anonymous employee engagement survey, and more.

Good place to work

Working at Fairstone is fun and people are very helpful Even other Branch. The only concern is pay as Lending specialist. I find it low. If you have other income in the household. You’re ok but if you rely on that one income you will force to resign cause maybe it’s not enough knowing or current economy.But overall it’s good place to work.
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Great learning experience in selling

Great place to start learning the sale carrier in financial products , by selling the Loan. All the time need to call the people and asking them to borrow.

Pros

Non

Cons

High target
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Best job i’ve ever had

This company is the best company i’ve ever worked for hands down. Everyone is amazing. Benefits are great. Its nice to be part of such a great company
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Official response from Fairstone

17 May 2022
It’s always nice to receive positive comments. We’re glad you are enjoying your time working at Fairstone. Thank you!

Dont work for this company

. These people are loan sharks, before you sign up do your research and try an actual financial institution. They have extremely high-interest rates,

Pros

health benfits

Cons

poor training, poor management
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Official response from Fairstone

17 May 2022
Thank you for sharing your views about your former experience at Fairstone. We're sorry you feel this way. As you know, we disclose loan rate to every customer before any documents are signed. We provide to every customer with the credit limit they qualify for and let them make the final decision.

A lot of micromanagement and high pressure sales

Depending on the (district &/or branch) manager you get, you might experience a lot of micromanagement. You will also learn a lot as you collect, underwrite, and book loans, but the salary does not reflect all the job duties performed.
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Official response from Fairstone

4 April 2022
We're sorry to hear about your experience. Providing excellent employee experience is one of our priorities. We offer competitive and market-benchmarked benefits and compensation packages. Thank you for your posting.

Good place to work at

Great place to work at, especially if you are considering a career in finance and like sales. Very good benefits, pension, easy job and extra perks such as discounts and you learn so much. They will go over and beyond for you if you do your job properly. My team was awesome and manager worked so hard to make our team successful.
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Official response from Fairstone

4 April 2022
Your views are appreciated! We're glad you enjoyed your time at Fairstone. We work hard to provide a positive work environment for all employees. Thank you for leaving a review.

productive place, with great people.

Good structure and schedule. Paid time off and flexible hours. Good benefits and room for growth.
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Workload is too much. Always short staffed. Garbage falls down hill, landing solely on the little people

I'm sorry I ever took a job here. The pay is ok but could be better. The benefits packages are amazing, if you are willing to pay for it and the time off available has just recently adjusted to 2 days less then previous years.

Pros

If you can attain multiple targets, the bonuses are tremendous

Cons

Too many policy changes, no proper training, forced to sell product. If the customer declines, you get berated for not selling it. It's a lose lose scenario
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Official response from Fairstone

8 February 2022
Thank you for taking the time to write about your experience at Fairstone. We're sorry to hear that you feel you have been penalized by our new paid time off policy.We have consolidated various planned time off days into a simpler, more flexible and wellness-focused approach. It gives the opportunity to all our employees to use their planned time off whenever needed and we encourage them to use them towards the year. We invite you to reach out to your manager or your HRBP to better understand this initiative. Your manager will also be able to provide guidance.

Unrealistic goals at high interest rates

Unrealistic goals at high interest rates, with a rates at 40% they always push the employees to upsell every single loan with insurances increasing the amount due making the loan even more difficult to manage, in addition the employees have to collect those accounts.
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Official response from Fairstone

17 January 2022
Thank you for taking the time to write about your current experience at Fairstone. We're sorry you feel this way. As you know, we disclose loan rate and insurance to every customer before any documents are signed. We also inform all client that the insurances are optional and have no bearing on the approval of the loan.We always look at helping the customer improve their situation by looking at consolidating other creditors to help them minimize the number of monthly payments, get out of debt faster and even reduce monthly payments. We provide to every customer with the credit limit they qualify for and let them make the final decision.

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Overall rating

Based on 155 reviews

Ratings by category

3.6 out of 5 stars for Work/Life Balance
3.7 out of 5 stars for Salary/Benefits
3.7 out of 5 stars for Job security/advancement
3.5 out of 5 stars for Management
3.5 out of 5 stars for Culture

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