BMO Financial Group

www.bmo.com
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BMO Financial Group Reviews in Vancouver, BC

Updated February 3, 2015
Updated February 3, 2015
39 Reviews
2.9
39 Reviews
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BMO Financial Group President and CEO, BMO Financial and Director Bill Downe
Bill Downe
39 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

39 Employee Reviews Back to all Reviews

Sort: Popular Rating Date
  1.  

    Good, not great.

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

    I have been working at BMO Financial Group

    Pros

    Flexibility in the markets we choose to enter locally. They took a risk in hiring a younger worker.

    Cons

    Training is not the greatest for newer employees. New employees held to same standards as veteran employees with little assistance from managers (who are too busy) and coworkers (it's not their job.

    Advice to ManagementAdvice

    Stop micromanaging. Give employees the tools to do their jobs.

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

    Lots of good things to say but qualified.

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

    I have been working at BMO Financial Group full-time (more than 5 years)

    Pros

    Good benefits, positive corporate culture overall, good support staff for CAMs generally.

    Cons

    Pay is on the low side (bonus can bring it up to a reasonable level though), increasing pressure to perform, poor work/life balance because of the pressure to show results, pitting teams one against another for results

    Advice to ManagementAdvice

    Relax and let go the strangle hold on your subordinates--it creates an unhealthy trickle down effect right to the front line. There is enough strain right now and if you can just trust that the CAMs have the same goal as you (to do a good job and see the bank excel) we will all be much better off. Right now we are just past the apex of the bell curve of individual productivity and on the way down the other side. If you let us self manage (that trust thing again), we could take ownership of our results and give you far more. Keep pushing us to do the impossible and we will eventually give up.

    Recommends
    Neutral Outlook
  3.  

    Customer Service Rep

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

    I have been working at BMO Financial Group

    Pros

    Benefits, decent pay, great work environment

    Cons

    (1) inflexible hours, not enough employees working
    - I had asked my manager a month ahead if i could get a specific work day off because I had a midterm scheduled for that evening. She asked if i could move my midterm. I was surprised. And then she told me she couldn't guarantee me a day off because there is nobody closing
    - employees get sick. We're human beings. If one employee calls in sick, we are short staffed. Everybody panics.
    - Not enough FSMs that work. Some days there are NO FSM's working
    (2) Pressure out weighs the benefits
    - Sales, sales, sales! They are really serious about sales, yet their products don't even compare to some other banking products out there. And at every coaching session so far, I have been put down over and over again. The sales targets don't make sense. We only get recognized if a customer has cues (pop up messages) on their screen. But referrals (without cues) aren't recognized. We are then forced to only care about those who have cues.
    (3) Centralized banking operating system is not user friendly
    - To all of those who have worked at other banks, be prepared to be confused. Their operating system is not straight forward, nor is it centralized.
    (4) Scare tactics
    - I think your boss has every right to tell you that you are not performing, and if you are not performing, there is a chance that you may be let go. But for god sakes, do it nicely? I was behind in my target, I am catching up. More than most CSR's working. I have been told 3 times now that if i don't meet by targets in x amount of weeks, I will be fired. I then got suspended pay, and was told to come back the next day with a plan on how I may succeed, or get fired. Choice is up to me.

    Advice to ManagementAdvice

    Advice to the general organization
    - get a user friendly operating system
    - have realistic targets, and maybe people will stop quitting and you may actually be #1 banking financial institution some day

    Advice to my managers
    - be sensitive
    - hire more employees
    - stop treating every one like they;re in high school

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

    Great

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

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

    Pros

    Work Environment, Vacation, Culture, Growth , Compensation

    Cons

    I saw none what so ever

    Advice to ManagementAdvice

    Keep it up, All is going well

    Recommends
    Positive Outlook
    Approves of CEO
  6.  

    Good company to work for

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

    I have been working at BMO Financial Group part-time (more than a year)

    Pros

    Flexible hours when it comes to working around school, decent pay for entry level job, great learning experience in a professional environment

    Cons

    Highly competitive for advancement opportunities, sales targets can be quite high

    Advice to ManagementAdvice

    Allow for better advancement opportunities, add more incentive to progress within company

    Recommends
    Positive Outlook
    Approves of CEO
  7.  

    Great company in the midst of revitalization!

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

    I have been working at BMO Financial Group full-time (more than 5 years)

    Pros

    Great culture, new direction, history, excellent products.

    Cons

    Lower pay and push to further this trend. Current scorecard structure has developed an adversarial environment in branches, previous scorecard metrics were much more conducive to team enviroment and best outcome for client.

    Advice to ManagementAdvice

    Don't rely on study done by 3rd party done about 2 years ago, the data is flawed and has led to ill conceived strategies that are taking us down a garden path AGAIN...THE DATA IS FLAWED THE MARKET RESEARCH WAS A WASTE OF MONEY! Don't make overarching assumptions about individual markets and overemphasize certain ethnic groups to the point of 90% or more of branch staff are from one ethnic group because the market data told you this was the case. I have experience with innumerable clients that have been alienated by this strategy, dont forget your core client base, diversification does not mean going to the other end of the spectrum where all staff are visible minorities from ONE SPECIFIC GLOBAL REGION! Have people from a variety of ethnic groups in one branch to provide a truly diverse and inclusive environment where we can help all of our clients not just an assumed (incorrectly assumed) majority demographic.

    Recommends
    Positive Outlook
    Approves of CEO
  8. 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 a 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
  9. 1 person found this helpful  

    Great workplace

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

    I have been working at BMO Financial Group full-time (more than 5 years)

    Pros

    Challenging workplace with lots of learning opportunity

    Cons

    Lots of obstacles for career progression

    Advice to ManagementAdvice

    More opportunity for growth in employee careers

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
  10. 1 person found this helpful  

    Things had changed a lot s

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

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

    Pros

    Good training, nice colleague and financial products and services. Get to know a lot of people

    Cons

    Increasingly sales-driven these years, upper mgmt don't understand what front line Staff actually face

    Advice to ManagementAdvice

    It's bad to hear from one of our recent district gathering, a clear message was made by upper management about if you can't take the stress or meet targets, u better go selling coffee. That's humiliating and neglect all those services that a staff had provided . Don't be a greedy sales machine!

    No opinion of CEO
  11.  

    Lowest pay among big five

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

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

    Pros

    Learn everything from lending to investment, especially if you are in a large branch.

    Cons

    High target and low pay. Very out-dated system which expect you to do all the work manually compared to other FI. Low productivity in admin and want to squeeze the most of FSM position while trying the cut the hours of all other supporting role.

    Advice to ManagementAdvice

    Fire all those senior executive team.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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