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Not bad employer

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

I have been working at BMO Financial Group full-time for less than a year

Pros

BMO offers a very good newly established training program. You will learn pretty much everything you need in work. I have a super nice manager. Friendly management and a lot of encouragement.

Cons

You probably need to learn how to balance work and life. May stay longer some days to wrap up the unfinished work during the day, especially after a busy day.

Recommends
Positive Outlook
No opinion of CEO

Other Reviews for BMO Financial Group

  1. 2 people found this helpful  

    Poor Pay, Too much Stress, Limited Growth

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

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

    Pros

    - Your work stays at work,

    Cons

    The amount of stress BMO puts on their employees to meet sale targets is unreal. I have seen tellers push people to open extra accounts that would never be used just to meet their referral targets.

    I've seen tellers push people to get master cards even when it was crystal clear that customer were barely managing their current debt level.

    I have also seen tellers smooth talking 80+ year old customers to open additional Master Cards even thought their current Master Card were not being used at all.

     Don't get me wrong those tellers are not bad people, but because of the in-ordinary amount of stress they were being put under forced them to make ethically questionable sales so that they could meet sales targets and keep their jobs.

    Most tellers do not last longer then 6 to 9 months. Most of them leave to jobs outside of BMO.

    Overall Summary

    -Poor Pay, earning a living as a CSR (teller) and living alone is just about impossible. I would love to see our CEO Bill Downe try to live 6 months on the pay he pays his full time customer facing staff.

    - Extreme amount of pressure put on staff to meet sales. My manager comes around every 2 to 3 hours asking for sales numbers.
    - You have to push Master Cards on people
    - You have to push people to open accounts and do investments with BMO.

    - Poor future opportunity prospects.

    Your careers options are very limited only real place to go from CSR is into the FSM role (loan officer) that role pays a bit better but those guys are even more stressed about sells then tellers.

    -If you exceed sale targets its very rare you are acknowledge for it
    -If you miss targets, management politely hints that you are replaceable.

    -Dispirited work force, everyone from CSRs up to loan officers FSMs wants to leave the place.

    In short too much stress for not enough money.

    Still the CSR role would be worth it if you could parley that role into a foot in the door with BMO into a professional job at HQ, but you really can't. The CSR role is simply too far down and too removed from the type of experience that any professional job at BMO HQ requires and you do not get bonus points for already being a BMO employee.

      I would not recommend this job to anyone.

    Advice to ManagementAdvice

    Pay your front facing customer staff a decent wage they could live on. Instead of just saying "Put customers first" actually Put customers first and have that reflected in the score card.

    Give people an opportunity to rise and grow in your organization.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  2.  

    One constant.....change is never ending!!!

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

    I have been working at BMO Financial Group full-time for more than 8 years

    Pros

    Continuous turnover while frustrating creates opportunities. Good training programs, well defined and Institute for Learning is the best in he industry.

    Cons

    Constant change, every two years, new structure. This causes great frustration to customers and employees.

    Advice to ManagementAdvice

    Figure out what you want to be before you lose more employees and customers.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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