Old vs New: Comparing Credit Suisse Employment Specifics to Revolut

It’s no secret that banking has made dramatic shifts in the past decade. New online banks are replacing traditional brick-and-mortar services. Two businesses that are competing for market share in the banking realm are Credit Suisse and Revolut.

Credit Suisse was founded in 1856, with headquarters remaining in Switzerland. This global investment bank retains an $11.06 billion market capitalization. Credit Suisse has fallen on hard times with Q3 2022 revenue being down 33.41% from the prior year. Another bank at the forefront of innovation is Revolut, a mobile banking platform created in 2015 in London. Despite being around for less than a decade, Revolut has rallied up a $33 billion market share.

How is it that Revolut has almost triple the market capitalization yet was only created a few years ago? One possible explanation comes from looking at the resources working behind closed doors. By analyzing the employment and education statistics of individuals in each company, we can draw conclusions on how both of these companies got to where they are today.

The data we will use to make our conclusions will be provided by Osterus, a software program that combines thousands of employment and education statistics.

Let’s first start by analyzing the education degrees. We can see that these two companies employ individuals with a similar educational background with 50.2% and 53.32% of employees retaining a Bachelor’s degree and another 20.61% and 21.02% holding a Master’s degree for Credit Suisse and Revolut, respectively.

This tells us that both of these companies look to employ educated individuals, which makes sense given the complexity of the banking industry. Furthermore, the education degree by gender is similar as well. We see that 37.88% of males at Credit Suisse have Bachelor’s degrees while Revolut ranks at 41.93%. The Master’s degree category for males is also similar with 24.51% to 25.8% found for Credit Suisse and Revolut, respectively.

The female categories show similar results. Credit Suisse has 21.25% of females with Bachelor’s degrees and 14.69% with Master’s degrees while Revolut retains 17.7% and 13.01%, respectively. The similarities between these categories show that these companies may retain a similar hiring strategy.

Education and experience are both important to retain. An individual might look good on paper, but if their education doesn’t translate into experience, these companies may have trouble fostering innovation and growing the business. Looking at the average work experience, we can see that Credit Suisse and Revolut are trying to attract experienced talent.

The average current work experience at Credit Suisse is 4.68 years while Revolut has 2.31. The average previous work experience for Credit Suisse is 13.98 years while Revolt retains 11.01. These statistics tell us that their current workforce isn’t as experienced as in the past. This could be due to high employee turnover due to the pandemic.

The work experience in the current company distribution further supports recent hiring efforts by both companies. Most employees are found in the 0–3 category with 54% and 86% for Credit Suisse and Revolut, respectively. The employment duration significantly drops after 3 years with only 11% and 2% in the 10+ category for Credit Suisse and Revolut, respectively.

Although the stark drop makes sense for Revolut given that the company is relatively new, this data indicates potential retention issues for Credit Suisse. The hiring efforts may bring fresh ideas and perspectives into the company, which can help with business growth. We hope that both Credit Suisse and Revolut will effectively use these newfound resources.

Despite being new to the company, the employees these businesses are hiring aren’t inexperienced. The work experience total shows us that 60% of employees at Credit Suisse and 45% at Revolut have over 10 years of experience in the industry. This is vital as more experience generally translates to stronger controls over operations and financial decisions.

Only 8% and 10% of employees at Credit Suisse and Revolut have under 3 years of experience. This means that these companies are looking to attract qualified labor to join their teams. Having a team of experts reduces the learning curve and allows the business to begin fully utilizing the talent.

An innovative feature of Osterus is the ability to give an overall score of loyalty and performance to assess companies at a glance. The loyalty score is calculated based on employee tenure, employee rations, employment types, and other key metrics to evaluate how loyal employees are to their employers.

Credit Suisse retains a high loyalty score while Revolut shows a very low score. Part of the explanation for Revolut’s low score is a low current employee tenure and boomerang ratio, ranking at .10 and .04 compared to Credit Suisse’s scores of 0.42 and 0.36. However, Credit Suisse does fall short on the employee ratio, which measures current to former employees. Credit Suisse shows a score of 0.02 while Revolut boasts 0.51.

The second part of the overview for companies is the diversity score, which covers the gender, education, language, work experience, age group, and location of employees. Both companies retain a very high score with similarities throughout the scores.

This tells us that both companies prioritize diversity throughout operations, which is a competitive advantage going into the next few years. Consumers are more likely to bank with a company that they know is inclusive to all individuals.

Although Credit Suisse may be financially struggling compared to Revolut, there is no clear indicator in their employment and education statistics. The strong diversity and loyalty scores are indicators of strong internal performance. Since we uncovered a recent hiring effort, only time will tell how Credit Suisse uses these new employees. We will continue to monitor the employment specifics of Credit Suisse in relation to their financial struggles, so be sure to check out our page in the next few months for an update.

The goal of Osterus isn’t just to provide random data. Instead, Osterus looks to give you the information needed to make employment decisions based on researched data. In no time, we can expect the insights to expand into quality-of-life considerations. For more information or to schedule a demo, reach out to contact us directly or on LinkedIn.