BMO Financial Group

  www.bmo.com
  www.bmo.com

BMO Financial Group Reviews

Updated December 4, 2014
Updated December 4, 2014
523 Reviews
3.2
523 Reviews
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BMO Financial Group President and CEO, BMO Financial and Director Bill Downe
Bill Downe
242 Ratings

Review Highlights

Pros
  • Good work life balance in certain groups (in 39 reviews)

  • Good benefits- especially 6 Weeks parental leave, (in 25 reviews)


Cons
  • Bad work life balance in others (in 11 reviews)

  • It can be hard to move into other areas depending what location you work at (in 7 reviews)

More Highlights

51 Employee Reviews Back to all reviews

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  1.  

    You are a number to the company

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Personal Banker
    Former Employee - Personal Banker

    I worked at BMO Financial Group full-time (more than 3 years)

    Pros

    Pay was pretty decent, especially if you met or exceeded your monthly goals.

    Cons

    Weekly call nights
    High sales goals
    Work life balance
    Out of touch management
    Lack of operational help

    Advice to ManagementAdvice

    Value the work that your employees do, not just strive for higher and higher expectations.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  2.  

    Company is very unorganized and not employee friendly

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Mortgage Banker in Schaumburg, IL
    Current Employee - Mortgage Banker in Schaumburg, IL

    I have been working at BMO Financial Group full-time (more than 3 years)

    Pros

    Big Bank, promotes in house referrals for additional compensation

    Cons

    Was told to sign a new employment contract that states that if a customer you did a mortgage for defaults, you will have to pay back commissions!! How is that even possible, seeing mortgage bankers don't make the decision for loan approval??? Huge problem with I.T. depts. and HR is sources out as well as most of the depts. Hard to get help!!!

    Advice to ManagementAdvice

    See above

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  3. 1 person found this helpful  

    Hard place to work for.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee in Chicago, IL
    Current Employee - Anonymous Employee in Chicago, IL

    I have been working at BMO Financial Group full-time (more than an year)

    Pros

    Some workers are nice and help the team.

    Cons

    Bad management and training, dirty office space. Lack of leadership.

    Advice to ManagementAdvice

    Learn how to training and support the team.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
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  5.  

    If you like any type of sales and don't mind screwing your customers then work here!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Everyday Banking Customer Contact Agent in Montreal, QC (Canada)
    Current Employee - Everyday Banking Customer Contact Agent in Montreal, QC (Canada)

    I have been working at BMO Financial Group

    Pros

    - If you sell a lot you will get good bonuses.

    - You don't need a high education to do well in a bank so that's a plus for some.

    - Profit sharing is really good along with the total benefits package.

    - Cool colleagues to work with.

    - Nice location in the Old Port.

    Cons

    - If you want to work in an environment of mutual respect then this is not the place for you.

    - Degrading treatment from management if you're not meeting your objectives.

    - Very high pressure and high competition for minimal reward.

    - Screwing customers over should be part of the job description because it's done daily. Do I need to mention MasterCard balance insurance?

    - A lot of people left for TD and RBC where the benefits were better apparently.

    - Very high turnover with little effort in moving employees to more suitable departments.

    - Coeercion and threats during training to get "poorly performing" trainees to quit.

    Advice to ManagementAdvice

    Managers should learn how to manage their employees!

    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO
  6.  

    WORST contracting experience...EVER

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Project Manager in Toronto, ON (Canada)
    Former Employee - Project Manager in Toronto, ON (Canada)

    I worked at BMO Financial Group as a contractor (less than an year)

    Pros

    Paid handsomely to do absolutely nothing all day for several months. Also sat next to some of the nicest Capital Market Technology PM ladies I have ever met. Self-initiated study led to my learning vasts amounts of knowledge on US and Canadian regulations, particularly Dodd-Frank Act which I will now transfer to my next contracting gig. Hours were also quite stable.

    Cons

    Was hired to be a senior Project Management for a massive, company-wide US regulatory initiative. During interview and first day, was again advised I should expect loads of work and travel. Despite asking daily for an opportunity to work on anything (even if not meaningful), I received little to no direction yet whenever I was proactive, I was usually reprimanded for doing something not asked for. My manager and his program manager lacked collaboration and communication skills. It was the first time I met a lawyer who was so in-methodical and disorganized. The entire project group faced constant criticisms from all business partners daily as a result. Program Manager was openly hostile in meetings with business partners and other PMs. I was kept on-board for several months before being let go for "not meeting work requirements".

    Advice to ManagementAdvice

    Assign individuals with the proper balance of collaboration/communication skills and long-term vision. Assigning a non-people person (who has a poor professional reputation within the firm) that cannot delegate because he doesn't "trust the other people"is a sure-fire way to ensure the failure of the major compliance project. Ensure the employee tasked doesn't suffer from extreme tunnel vision and understands not everything is task-based; they must understand stakeholder engagement and following due (enterprise-wide) methodologies/processes is a beneficial, if not essential, part of managing a massive change positively.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  7.  

    You couldn't pay me enough to go back

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Customer Service Representative in Toronto, ON (Canada)
    Former Employee - Customer Service Representative in Toronto, ON (Canada)

    I worked at BMO Financial Group full-time (less than an year)

    Pros

    Moderate benefits package and good stock options.

    Cons

    Little to no movement out of branch to corporate. People remain stuck in the same job for 5 years plus with little motivation to improve themselves.
    Pressure to sign customers up for a credit card application with poor credit history or no little income is immoral.
    Terrible banking products when compared with international standards.
    Atrocious educational opportunities for employees.

    Advice to ManagementAdvice

    Think about customer service first and don't nickel and dime customers.
    Provide better opportunities for education.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  8. 1 person found this helpful  

    Financial services manager

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Services Manager in Toronto, ON (Canada)
    Former Employee - Financial Services Manager in Toronto, ON (Canada)

    I worked at BMO Financial Group full-time (more than 10 years)

    Pros

    There are no more best reasons working at BMO. Don't even think about applying sales or service positions. My overall rating of BMO is minus 5 stars

    Cons

    Sales, Sales, Sales and Revenue, Revenue, Revenue...that is what they only care about. BMO lost good customer services. No more strong teamwork between colleagues. 17 years at BMO, I was very happy to go to work first 10 years. Now it became hell. Customers are forced to take unnecessary products....if I am not a BMO employee, I would never banking with BMO.

    Advice to ManagementAdvice

    In short term, BMO may profits from pushing hard FSM and CSR for the revenue target but in long term, you will lose everything. BMO new brend...human?...I am just laughing at it.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  9. 1 person found this helpful  

    financial services manager

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Services Manager in Vancouver, BC (Canada)
    Current Employee - Financial Services Manager in Vancouver, BC (Canada)

    I have been working at BMO Financial Group full-time (more than an year)

    Pros

    extensive training courses are offerend

    Cons

    not human to employees, employees are treated like slave. abusing their paid break time and vacation time to use as sick day. Hiring direct family members in same branch. One of the most failure hiring management system in sales industry that lenient on their family members in same branch while giving immense stress to other sales team to bridge the sales gap to help their family members to meet the target.

    Advice to ManagementAdvice

    before bmo advertises their vision "be human to customer," they need to be human to employees.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  10. 1 person found this helpful  

    Worst experience of my life

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Services Manager in Winnipeg, MB (Canada)
    Former Employee - Financial Services Manager in Winnipeg, MB (Canada)

    I worked at BMO Financial Group full-time (more than 3 years)

    Pros

    Vacation... and that is it.

    Cons

    Salary, management, skeezy HR practices at local level--no support from HR, slave labour, no work-life balance, unrealistic targets and daily workload.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  11.  

    Senior SA IT

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at BMO Financial Group full-time

    Pros

    I don't have anything positive about this position

    Cons

    You can't move up within the company due to HR's ridiculous policies

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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