CIBC Reviews

Updated April 16, 2015
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2.0
111 Reviews
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Victor Dodig
7 Ratings

111 Employee Reviews

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  1. If you are looking for bank job go somewhere else

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

    I have been working at CIBC full-time (more than a year)

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    Pros

    A lot of opportunity to move up because there are tons of people leaving this organization. The turn over is crazy. The executives are trying to turn around the bank so there are hopes but they are not going too deep about the root causes. There are no team work between branch, imperial service, wood Gundy and credit card center and commercial banking. people just want sales target to be done. Nobody care about service. No matter how good service you do, you will get treat like you are useless if you can't sell. Only solid salesperson get to stay. Mangers are very roughy to bad salesperson to make them quit. They try to not letting the good salesperson move up. Average performance are stuck. Everybody just thinking of getting a job in other bank as exit strategy. No authority to staff. Everything is not allowed. A lot of hierarchies. System is so old fashion like in the 40s. If you refer business to your partner you will get absolutely nothing nobody is helping each other. Everybody work together are competitors. There is no partner within the bank. Pay is well below market avenger and that's why people are leaving after training. Only wild animal can survive and excel. If you work in this bank and excel you have all the ability to be successful in anywhere any organization. And that's the pros!!

    Cons

    The executives are too conservative. The hierarchies are too strong. The performance scorecard between channels are competitor more then team. Training is good but the pay is low; everybody get trained and moved on to other bank for higher pay. Turn over is crazy. No authority to staff. Not very competitive. Leaders only looks for sales numbers. And leadership means how to get people work for no pay. The bonus is just a joke. No incentive to work hard as financial service rep or even senior. THe compensation for imperial service advisor keep getting cut down year after years. Advisors are all bringing their client and go to other FI. Leave the dust to CIBC. Managers and executives are getting fat pay and not helping. Keep bringing new technology but not focus on how to link the branch core, imperial service and wood Gundy together as team. Keep spending stupid money on break away and get branch staff work like tel banking call center keep making outbound call to disturb clients. And get units and use the fact to judge outbound call works. And it actually do not work. And really low staff satisfaction. And below average pay.

    Advice to Management

    Please focus on the referral system between FSR imperial service advisor and wood Gundy. Everybody need net sales and refer client is a lost of business. Who will really refer business to each other. And Cibc is not one team like ceo said. Everybody is competitor not colleague. The compensation for branch core is waste of life no incentive. If the compensation is the 5th of the big 5 bank, the performance will also have the same ranking. Stop spending money on break away it does not work it is just another micro management strategy. There are so many tracker to track staff. This is a sign of poor leadership. Good leader get people to work with motivation not with stick and monitoring. Branch manager has no leadership but being a sneaky spy agent checking up on staff.

  2. Client service management

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

    I worked at CIBC full-time (more than 8 years)

    Doesn't Recommend
    Disapproves of CEO
    Doesn't Recommend
    Disapproves of CEO

    Pros

    solid corporation, fairness and respect in the workplace. Good benefits and fair pay.

    Cons

    Accountability not at the level it should be. Too conservative and trying to save on everything. pushing for sales.
    HR recruiters suck!!!

  3. working for several years with cibc....not the best or the worst company to work @

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

    I have been working at CIBC

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

    Pros

    good group share plan and employee benefit

    Cons

    consistent working ot home without pay, lower salary compare to another fi

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  5. You are just a number

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Services Representative II in Montreal, QC (Canada)
    Current Employee - Financial Services Representative II in Montreal, QC (Canada)

    I have been working at CIBC full-time (more than 8 years)

    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO
    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO

    Pros

    They provide good benefits and so you will not have to worry about medical and dental

    Cons

    Too many. 2 faced at every stage; you are just a revenue generator; many years of service doesn't matter; everything is micro -managed.

    Advice to Management

    Empower your employees like you promise them; care about your employees for once; surveys don't mean anything.

  6. Challenging

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at CIBC

    Pros

    Outdated office culture and leadership was not streamlined

    Cons

    Compensation should be reviewed.no flexibility.

  7. It was a stepping stone to a better career.

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

    I worked at CIBC

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

    Pros

    You can move up quickly

    Cons

    You are just a number management doesn't care about you

    Advice to Management

    Focus on fixing the problems with turnover and it will make happier employees and a happier work place. Plus save the company hundreds of thousands in training costs. Look to the districts with high turnover clearly there is a problem.

  8. na

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

    I have been working at CIBC

    Recommends
    Positive Outlook
    Disapproves of CEO
    Recommends
    Positive Outlook
    Disapproves of CEO

    Pros

    Good pay for a entry level job. Workload is not too heavy.

    Cons

    Company is going in a bad direction for a few years now. Trying to become like one of the big banks.

  9. Law Clerk

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

    I worked at CIBC full-time (more than 3 years)

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    Pros

    Good challenges, interesting projects and lots of work! Excellent diversity.

    Cons

    Very poor management, non supportive and very hung up on hiarchy. Not a team enviroment! Lawyers managing = bad choice!

    Advice to Management

    Teach your managers to support and empower their employees. Very poor management skills!

  10. Helpful (1)

    increasing demands for diminishing pay

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Services Representative II in Calgary, AB (Canada)
    Current Employee - Financial Services Representative II in Calgary, AB (Canada)

    I have been working at CIBC full-time (more than a year)

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

    Pros

    the benefits are okay, and decent pay for the educational requirements
    -some nicer coworkers
    -decent work life balance

    Cons

    promotions based solely on sales
    extended hours and cutting key employees with no assistance from upper management

    Advice to Management

    pay more or expect less

  11. fsr

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

    I have been working at CIBC full-time (more than a year)

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

    Pros

    you learn basic lending and investment

    Cons

    too much pressure on sales and targets, cold calling, pushing sales pressure on employees. Pay not worth for job

    Advice to Management

    dont see as a number, reduce the fsr turn over ratio. pay them a little bit better

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