KeyBank Reviews in Cleveland, OH

Updated July 23, 2014
Updated July 23, 2014
365 Reviews

3.1
365 Reviews
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KeyBank Chairman and CEO Beth E. Mooney
Beth E. Mooney
159 Ratings

Review Highlights

Pros
  • Solid work/life balance with opportunity to move around a large organization (in 32 reviews)

  • Fairly base pay and Good benefits package (in 27 reviews)


Cons
  • No work life balance and incompetent Senior Management (in 10 reviews)

  • There is a severe disconnect today with upper management (in 15 reviews)

More Highlights

11 Employee Reviews Back to all reviews

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  1.  

    Management is lazy and incompetent

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

    I worked at KeyBank full-time for more than 5 years

    Pros

    Benefits are good
    Working with customers was enjoyable
    Good work/life balance

    Cons

    Petty, juvenile employees
    Lazy and incompetent managers
    Few employees operate with ethics
    Unethical management
    Lots of customer complaints on bank fees

    Advice to ManagementAdvice

    They think they know it all, theres nothing to advise them on and they all think they are awesome and that they are the reason for success, not the employees actually doing the work.

    Overzealous, tons of overlap on reporting numbers. They gather numbers then dont do anything with them. Makes me think all managers have to report their numbers to their managers for sole purpose of creating work for everyone else.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2. 1 person found this helpful  

    No raises given to young technology employees, no incentive to stay

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Systems Engineer  in  Cleveland, OH
    Former Employee - Systems Engineer in Cleveland, OH

    I worked at KeyBank full-time for more than 10 years

    Pros

    Stable and subdued workplace, 401k match.

    Cons

    Culture involves fearmongering and control, poor opportunities for personal growth, poor salary increase schedule, regular rounds of layoffs, no respect for technical staff (they are considered disposable). Benefit cost high versus other companies.

    Advice to ManagementAdvice

    The company will be more competitive with technical offerings, not more marketing and fees. Regarding technical staff as non-valued cost center employees who exist to fulfill whatever marketing develops is sure to result in technology product offerings that are unstable, non-innovative, and weak compared to competitors such as USAA FSB.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  3.  

    The Revolving Door at Key Bank

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Engineer II  in  Cleveland, OH
    Former Employee - Engineer II in Cleveland, OH

    I worked at KeyBank full-time for less than a year

    Pros

    Compensation is ok. The availability and technology provided to work remotely is widely available and performs well. There are a wide variety of positions available at any one time. There are plenty of perk type benefits available. There are a lot of opportunities to volunteer in your community, if that's your thing.

    Cons

    Positions both open and filled get cancelled and terminated with no notice due to "efficiency and optimization." Basically, no one is safe. And that's the corporate culture at Key these days. The Health Benefits are complicated and costly. All of the fringe benefits budgets and energy were cancelled and used to augment health care programs, they would be free. Key seems to have no sense of direction other than struggling to catch up to the industry. There is a severe disconnect today with upper management. Seeing the way they treat even veteran employees, I would never work for this company again.

    Advice to ManagementAdvice

    Key Bank needs to stop playing catch-up in the industry. There's been a re-shuffle through every rank within the business. Where is the business going? No one knows. Communicate that better, and you may have a shot at success.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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  5.  

    Run away very, very fast!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Advisor  in  Cleveland, OH
    Current Employee - Financial Advisor in Cleveland, OH

    I have been working at KeyBank full-time for more than 5 years

    Pros

    Average mid-size bank. Well known brand.

    Cons

    Management is poor, from the top on down. Local (Regional, Area) managers are all washouts from other banking institutions. Poor products. Not competitive pricing. IT is operating like it is 1998.

    Advice to ManagementAdvice

    Quit so someone more qualified may be hired.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  6.  

    Worked with some incompetent and uncooperative gossipers and haters-my apologies to those who aren't

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Accountant  in  Cleveland, OH
    Former Employee - Accountant in Cleveland, OH

    I worked at KeyBank full-time for more than a year

    Pros

    A 40 hour week and good location.

    Cons

    Very hostile environment, almost no opportunity for professional growth. Promotions not based on merits. No one shares knowledge or information, everyone protects their territory fanatically. No direction from management to new employees-half the time because they are clueless, half the time on purpose. Because of obsolete systems and company culture it's hard to get rid of some unproductive people with outdated skills who have worked there for many years and practically "own" the place. They will do everything they can to attack new talent. If you want more from your life and career and want to stay marketable DON'T WORK THERE. Glad i left!

    Advice to ManagementAdvice

    Reward and value people with real skills and strong ethics. Figure out why there is so much employee dissatisfaction and make changes. Strong publicity can keep the stock price high only for so long...people bring the real value.

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

    Call Center Slave

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Answer Bank  in  Cleveland, OH
    Current Employee - Answer Bank in Cleveland, OH

    I have been working at KeyBank full-time for more than a year

    Pros

    You will have a "job" that is about it. Your co-workers will be fun.

    Cons

    Everything else....low pay, bad benefits, no real leadership.

    Advice to ManagementAdvice

    Walk the talk. Mangers don't actually perform any work. They micro manage.

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

    Generally direct management is honest and care about their employees.Senior management only cares about them selves.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Desktop Support  in  Cleveland, OH
    Current Employee - Desktop Support in Cleveland, OH

    I have been working at KeyBank

    Pros

    My direct supervisors are fair
    Working conditions are fair and balanced
    Legitimate time off is never denied.

    Cons

    Senior management is only interested in their golden parachutes when Key is sold.
    Pay is too varied, over 20% difference between pay for the same job.
    Benefits and training are marginal
    The computing environment is 8 years old.
    The best employees are leaving as soon as they can find a job

    Advice to ManagementAdvice

    Try a little honesty. the employees all know the bank is about to be sold. Don't the employees have some rights to directing their live?

    Doesn't Recommend
    Disapproves of CEO
  9.  

    Beware of layoffs in IT.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Desktop Engineer  in  Cleveland, OH
    Former Employee - Desktop Engineer in Cleveland, OH

    I worked at KeyBank

    Pros

    Experience working in the Finance Sector.
    Recognizes more holidays than other companies

    Cons

    Nepotism everywhere
    No opportunity to advance
    Long work hours
    Layoffs looming all the time
    Incompetent Management at all levels in IT

    Advice to ManagementAdvice

    The board of directors should hire a group of MBA’s to replace all management in IT.

    Doesn't Recommend
    Disapproves of CEO
  10.  

    Investment Banking Analyst Consumer Markets Group

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Investment Banking Analyst  in  Cleveland, OH
    Current Employee - Investment Banking Analyst in Cleveland, OH

    I have been working at KeyBank

    Pros

    If you like living in Cleveland, Ohio and you work in any other group other than Consumer Markets in the investment bank, KeyBanc Capital Markets is a decent place to be.

    Cons

    This is specific to Consume Markets. I was an analyst in the group for two years. During that period I only worked on one deal. The group is currently focused on business development and has no established investment banking client relationships. If you are an analyst in the group all you will be doing is pitching for new business, and when something interesting or the bank gets engaged on an advisory assignment, it will be handed of to the M&A group. Another issue is the fact that Key is not willing to pay to attract senior bankers with established relationships. Instead the practice is to hire desperate first year VPs who have no established client relationships from decent banks that have been laid off and that is the best case scenario. Furthermore, you will have to work with associates that donâ??t really know what they are doing, who are unable and/or willing to train you and end up dumping all the work on you. I could go on and on, but my advice is if you want to work at Key Corp and its investment bank avoid consumer markets group like the plague.

    Advice to ManagementAdvice

    I was told by my managing director that he does not care to collect feedback from VPs and associates about analysts performance during my yearly review and that if i want feedback I should go to the bankers that I support. So when I did go to the bankers that I support, they told me to go to associates. And associates told me that its not their job to provide feedback to analysts. One of the issues that needs improvement is providing meaningful feedback to the analysts regarding their performance both negative and positive.

    Doesn't Recommend
    Disapproves of CEO
  11. 1 person found this helpful  

    Potential clients, be educated, your "trusted advisors" last job was probably a car salesman. Employee, morale is low.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Vice President, Commercial  in  Cleveland, OH
    Current Employee - Vice President, Commercial in Cleveland, OH

    I have been working at KeyBank

    Pros

    KeyBank has a good infrastructure and descent products given their size. They actually have the potential to be a great bank. Unfortunately, their “Corporate Speak”, what they claim to be, versus what they are, are two different things. With different and competent middle management, Key has the potential of being a great institution.

    Cons

    Welcome to the “good ole’ boy network”. I am shocked at the people who are promoted based on who they know versus what they know. Experience, results and commitment, have little to no value in this organization.
    Work life balance, they could care less. I have never had the displeasure of working with such unethical individuals in my life. Their code of ethics policy states: fellow colleagues should respect and value one another. Not only is there a complete and total lack of respect, don’t turn your back, the first to put a knife in it is rewarded and celebrated. Most disheartening is that senior management is aware of these issues but choose to turn a blind eye to the problem.
    If you are a client of KeyBank, be assured, while they are friendly and cordial in meetings, they look at you as a contribution margin. The larger the contribution, the greater the chance you will be treated as more than a number.
    For these and many other reasons, KeyBank has a very high turnover rate, the working conditions are more than stressful. One person is expected to do the job of three or four. Additionally, their middle management, are some of the least experienced in the business. If you have no experience but are willing to align yourself properly, even at the cost of your integrity, this is the place for you to manage!

    Advice to ManagementAdvice

    Advice to Senior Management:
    #1. Get out of the ivory tower and get involved!
    #2. Do what is right, not what is easy. Do what is best for the company not your career.
    #3. Direct managers need to start recognizing those who day in and day out give it their all, and truly care about their company and their clients.
    #4. Follow your ethics policy; foster an environment of respect of employees and clients.
    #5. Make sure promotions are warranted based on merit, not because you have been “sold”.
    #6. Don't worry about your competition; the internal strife is your biggest threat.

    Doesn't Recommend

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