BMO Financial Group

www.bmo.com

BMO Financial Group Reviews

Updated January 26, 2015
Updated January 26, 2015
560 Reviews
3.2
560 Reviews
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BMO Financial Group President and CEO, BMO Financial and Director Bill Downe
Bill Downe
258 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

54 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  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 a 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
  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5.  

    unpleasant working environment. Had to work with some extremely underqualified people with low work ethics.

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

    I worked at BMO Financial Group full-time (more than a year)

    Pros

    It is a good starting experience for a student. It is a good company name to put on your resume.

    Cons

    Extremely low salaries, in motivating work environment and culture within the team.

    Advice to ManagementAdvice

    Motivate your employees better, pay compatible salaries.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  6.  

    BMO

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

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

    Pros

    I have nothing to share for pros

    Cons

    A company that reports high profits every quarter hires contract employees on a regular basis to avoid paying benefits and vacation time. Contract employees are treated like outsiders and oftetimes full-time employees are condescending to them. The contract rates are also lower than anywhere else I have encountered. Promotion from inside, and through "brown-nosing" is quite frequent.

    Advice to ManagementAdvice

    Senior leadership may want to take a look at how things go in the lower ranks. A more caring approach to employees and more attention to how your code of business conduct is observed, not to metion work/life balance, would definitely benefit your organization and would ensure you attract the best of the best.

    Doesn't Recommend
    Neutral Outlook
  7.  

    Bmo believes it is moving forward however it is moving backwards

    • 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

    Pros

    The employee share ownership program

    Cons

    Bmo does not value its employees

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  8. 1 person found this helpful  

    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
  9.  

    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 a 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
  10.  

    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 a 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
  11. 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

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