Sumitomo Mitsui Reviews

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Sumitomo Mitsui President Koichi Miyata
Koichi Miyata
3 Ratings

7 Employee Reviews

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  1. Helpful (3)

    Depressing and uninteresting place

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Assistant Treasur in New York, NY
    Current Employee - Assistant Treasur in New York, NY
    Doesn't Recommend
    No opinion of CEO

    I have been working at Sumitomo Mitsui full-time (Less than a year)

    Pros

    9-5 job Very good health insurance (115$ per month for a complete coverage (health/dental/vision) for a family regardless of number of kids, no deductables)

    Cons

    Very japanese culture, your bosses never talks to you (will pass you by as if you don't exist), some of them barely speak English Department is not friendly Its dead quiet in the office Paintry is the worst I ve ever seen, plenty of green tea, but no milk. Coffee had to be placed at mail room as people were stealing it Absense of any training No coaching, mentoring No communication of expectations Very inefficient processes, outdated technology (both software and hardware) Absense of Communication from Top to Bottom Although hours are great (9-5), at 9:01 management goes around to check if you are at your place. Work from home is non-existent term, taking half day to take care of your personal affairs is judged. Sick days... well you have to be diying. If not, why arent you at your desk.

    Advice to Management

    If you come to other countries, learn to adjust to that environment, leave your japanese culture in Japan


  2. Helpful (7)

    Terrible company to work for

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in New York, NY
    Former Employee - Anonymous Employee in New York, NY
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Sumitomo Mitsui full-time (More than 3 years)

    Pros

    Difficult to think of any pros. The companys location in Midtown East is convenient. Thats about it.

    Cons

    The salaries at all levels of the company are below market for the industry. The atmosphere around the office is not pleasant. The culture is toxic, and there is a fear that is perpetuated by the Expat community. Expats are promoted before American staff. Managers do not care about work/life balance. There is a glass ceiling for women. The Expats look down on American staff. The benefits of being an employee are basically limited to health care. -There is no such thing as employee day, when employees are treated. -The Christmas party costs $50 to attend, $50+ to bring a guest. -No stipends for cabs or dinner if you are asked to work late. -There are occasionally team dinners and parties, but they generally cost each employee $40-$60, and you are expected to attend. -No office cafeteria. -Hours are just as long as peers in American banks, if not longer, but pay is much less. -HR is not supportive, and does not make employees feel like they are operate on the employees behalf. -The pantries are a disgrace. There is literally only green tea and coffee- no milk.


  3. Helpful (4)

    Archaic Japanese company

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Assistant in New York, NY
    Current Employee - Assistant in New York, NY
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I have been working at Sumitomo Mitsui full-time (More than 3 years)

    Pros

    Makes you appreciate every job you thought hated Very retro work environment, think Madmen where women with BA and MBA with good titles are regulated to low level positions and doing things like pouring tea during meetings despite experience. Work life balance - very good if you ignore your manager's warnings about working late when there isnt much work to be done, or coming in 5 minutes late due to a sick passenger on the train. Manager changes every week, so the manager you hate will most likely not be there soon because they get sent back to Japan.

    Cons

    Culture Compensation - will lowball you and sell you the lack of layoffs Technology - they use a access db as their CRM, Lotus notes, Windows XP, IE 6, cloud services is foreign here PTO - very low by modern standards Sick days - you get dinged on performance review for using it

    Advice to Management

    Hire a management consultant from a company like Goldman, Moodys, BarclaysReuters, etc, shake things up, focus on employees.


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  5. Helpful (4)

    Terrible...hostile work environment due to very poor management!

    • Work/Life Balance
    • Culture & Values
    • Comp & Benefits
    Former Employee - Senior Accountant in Warren, NJ
    Former Employee - Senior Accountant in Warren, NJ
    Doesn't Recommend
    Approves of CEO

    I worked at Sumitomo Mitsui full-time (More than 3 years)

    Pros

    The majority of the employees here were very pleasant to work with, especially the Japanese who were very respectful.

    Cons

    My department was a joke! Very unprofessional and very poorly managed. There was a senior tax accountant who was extremely unhappy and hostile. This was permitted.

    Advice to Management

    Get a backbone! And realize that the confidentiality you boast about doesn't exist, especially in the legal department and the president's office. I believed that the HR department was professional and really cared but I found out that they go with the status quo regardless of what they claim.


  6. Helpful (5)

    Never again.

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Associate in New York, NY
    Current Employee - Associate in New York, NY
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I have been working at Sumitomo Mitsui full-time (Less than a year)

    Pros

    - You get paid - People are generally nice - Weekends generally free; 8:30 - 6:30 work hours on most days

    Cons

    - Inefficient and bureaucratic: a lot of deliberation / discussion over minutiae - Inadequate and outdated software and technology; proprietary software is useless - Distrust of external sources (e.g., JP Morgan, Credit Suisse, etc.) - Condescending, arrogant and dismissive management - Minimal investment in employee / career development - Unnecessarily long processes (50+ page redundant applications) - Just because it takes more time to finish a process, it doesn't make it better. Learn efficiency.

    Advice to Management

    You may want to invest in your proprietary technology and employees. That means training your employees, knowing in what capacity you want to use each employee, and actually caring about your employees' development.


  7. Helpful (5)

    oldschool japanese bank

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Officer in Toronto, ON (Canada)
    Former Employee - Officer in Toronto, ON (Canada)
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Sumitomo Mitsui full-time (More than a year)

    Pros

    stable, good life-work balance, ok pay

    Cons

    no career, no motivation, inefficient approval process, zero risk appetite

    Advice to Management

    having offices around the world doesn't mean "global".


  8. Helpful (3)

    Need to break the current mould ...

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Disapproves of CEO

    Pros

    More active approach to capital usage. Happy to be a commercial bank and operate across many countries to support client needs

    Cons

    Very disfunctional. Japanese management are more focused on managing their next career steps than improving the business. Technology, policies, processes are all of especially poor standard vs non-Japanese banks and limit competitiveness

    Advice to Management

    Look for more opportunities to westernise the bank from top down, thereby having a more client/employee friendly approach. Senior mgmt should be rewarding Japanese middle mgmt for taking sensible risk, restructuring their businesses, etc



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