CIBC Mellon

  www.cibcmellon.com
  www.cibcmellon.com

CIBC Mellon Reviews

Updated October 5, 2014
Updated October 5, 2014
45 Reviews
2.9
45 Reviews
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Recommend to a friend
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Tom S. Monahan
23 Ratings

Employee Reviews

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  1.  

    Great entry level opportunity, but limited growth opportunities

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Custody Administrator in London, CA
    Current Employee - Custody Administrator in London, CA

    I have been working at CIBC Mellon full-time (more than 5 years)

    Pros

    Flexible work schedules for mothers with children

    Cons

    Low pay and limited advancement opportunities

    Advice to ManagementAdvice

    Offer employees better pay

    Recommends
    Neutral Outlook
    Approves of CEO
  2.  

    Fund Accountant working experience at CIBC Mellon as my first job after graduation from the university

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

    I have been working at CIBC Mellon full-time (less than an year)

    Pros

    Really comfortable working environment. Job started at 10:00 so no need to be hurried in the morning.

    Cons

    Maybe because it's an entry-level job, the tasks are just repeating so feel a little bit boring some times.

  3.  

    Fund Accountant

    Former Employee - Fund Accountant in Toronto, ON (Canada)
    Former Employee - Fund Accountant in Toronto, ON (Canada)

    I worked at CIBC Mellon full-time (less than an year)

    Pros

    Lots of young coworkers within the team. Lots of downtime during work. The office is also a great location downtown. Lots of internal hiring opportunities within the company if you know the right people.

    Cons

    Repetitive work running spreadsheets and printing lots of paper. Not many meetings so management did not communicate. Low morale as everyone seemed really bored from what they were doing and at times people were unhappy at work because they saw slow career growth. A handful of people on each team leave each year, so turnover is very high, leading to a lot of people wanting to leave.

    Advice to ManagementAdvice

    Even though there are many fund accounting teams, pay a bit more so maybe there won't be so much turnover. Morale is extremely low for a lot of teams, and it is because of upper management not caring.

    Doesn't Recommend
    Approves of CEO
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  5.  

    Okay place to gain experience

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

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

    Pros

    Lots of internal opportunities. Lots of room for personal growth. very good work-life balance. vacation policy is very good.

    Cons

    lots of politics. lots of cutbacks. leadership needs to be overhauled. culture is bad due to cutbacks. everyone is out for themselves because they're scared at any moment they're going to be let go. This was not always the case but times have changed.

    Advice to ManagementAdvice

    Don't sugar coat anything.

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

    Good short term, bleak long-term

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

    I have been working at CIBC Mellon full-time (more than 5 years)

    Pros

    Great starting position for new graduates. Great tuition assistance benefit. Company senior managers are great by setting up various employee appreciation events.

    Cons

    Repetitive work. Will very likely result in being pigeon-holed. Very difficult to move internally in the company. Internal submission will usually be met with no response or a candidate is already in mind but position must be posted due to HR rules, so applying is generally pointless. Grade scale rule, cannot jump more than 2 grades even if qualified for the position.

    Advice to ManagementAdvice

    Encourage more internally movement. I left the company because after 6 years, I don't see a future with the company. Not that the company isn't great, but I cannot grow in the company even though the company paid a majority of my personal growth with their tuition assistance program.

    Recommends
    Neutral Outlook
    Approves of CEO
  7.  

    The working culture is getting worse

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

    I have been working at CIBC Mellon full-time (more than 3 years)

    Pros

    Compensation: standard for fund accountant role, though they will start you with 6 monty contract with no benefit.
    Location: you do work in the heart of financial district at Adeblaide and Bay.
    Dress code: not enforced, though it is business casual, management does not care if you wear something lesser of

    Cons

    Promotion and Career advancement: If you are looking for career advancement, this is probably one of the worst place. I know people who has been here for 8 years and still works as a fund accountant. You only get promoted if the other senior fund accountant leaves and there is no one else in your team that worked longer than you. And promotion is not based on your ability and results but with number of years you served. Even if the senior fund accountant does leave and you are next in line, it will take forever for them to approve your promotion.
    Managers are cost oriented and do not care about their employees: don't expect to get your overtime approved just because you put in the extra work each day after hour because they assign you more work/short staffed. You will be overworked, teams are constantly short staffed because it will take them months to replace someone, while others get fed up with being constantly overworked and quit, creating a vicious cycle. Don't expect nice bonus and raise every year. Bonus is around a 1000 after tax and raise is 1-2%.
    Benefit: below standard, you are actually paying part of the benefit yourself, which is deducted from your payroll, RRSP matching is little.
    System: slow and decreases your productivity.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  8.  

    Bad

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at CIBC Mellon

    Pros

    great people to work with

    Cons

    training and organization were poor

  9.  

    Senior Fund Accountant

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

    I have been working at CIBC Mellon full-time (more than 5 years)

    Pros

    easy job, not much thinking involved

    Cons

    lack of exit opportunities, lack of advancement, low pay versus industry,

    Advice to ManagementAdvice

    smarten up and pay according to industry average, stop outsourcing everything to india

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  10.  

    Interview

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

    I worked at CIBC Mellon part-time (more than an year)

    Pros

    Very nice working environment and friendly coworkers

    Cons

    Long working hours during peak time

    Advice to ManagementAdvice

    None

    Recommends
    Neutral Outlook
    Approves of CEO
  11.  

    It was a formal interview for fund accountant role.

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

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

    Pros

    Career progression in investment banking.great compensation and training program. Experience will count towards CFA designation.

    Cons

    Working hours will be long. 9:30 to 6:00 but depend on work may have to stay longer.

    Positive Outlook
    Approves of CEO

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