There are newer employer reviews for MB Financial

 

Great place to gain experience

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Career Opportunities
Current Employee - Anonymous Employee in Chicago, IL
Current Employee - Anonymous Employee in Chicago, IL

I have been working at MB Financial

Pros

Great culture. Friendly and helpful co-workers. Great to starting point in any area of Banking. Management is open to new ideas. And you can pick any project and you will own it. Nice benefits. Aggressive college campus recruiting for Leadership Program (LDP).

Cons

As i mentioned most employees are hired out of college so the starting salary is pretty low. But the growth of your salary is even lower (mostly 2%-3%) with very low bonus amounts. Therefore there is a lot of turn around in staff. Most younger recruits leave the bank within 3 years. Salary levels on the mid-level employees is about 30% less than the market.

Advice to ManagementAdvice

The cost of rehiring and retraining new employees is a lot more than increasing the salary of key employees by 10%-15%. We have lost many great employees to other companies because we didn't want to promote them or increase their salaries. Really it is our loss.

Approves of CEO

46 Other Employee Reviews for MB Financial (View Most Recent)

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  1. 1 person found this helpful  

    Nice benefits, not enough room to grow long term

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Officer in Rosemont, IL
    Current Employee - Officer in Rosemont, IL

    I have been working at MB Financial

    Pros

    Benefits are good
    People are great
    Culture is strong

    Cons

    Pay is too low compared to competition
    Promotion prospects are not great

    Advice to ManagementAdvice

    Hire from within

    Approves of CEO
  2.  

    Mid-Sized Bank that cannot hope to compete

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Personal Banker in Chicago, IL
    Current Employee - Personal Banker in Chicago, IL

    I have been working at MB Financial

    Pros

    Long-standing history (100 years) serving Chicagoland.
    Small bank. Not a Corporate Giant.
    Corporate HQ in Rosemont is very nice. Training was a great experience.
    Very involved/likeable CEO

    Cons

    Salary sounded good until I realized how costly the benefits are compared to other banks. Less employees = less of a group discount when it comes to insurance I guess. Branch and Regional Management constantly implement policies and rules that are NOT company policy. An example of these "Improvements to Policy" include completing CTR reports for cash deposited over $3000 (Not $10,000+). That is illegal. Micromanaging is an understatement. While the company touts relationship-based banking, practicing what they preach is a whole different story. The simpleist tasks like closing a CD or issuing a cashier's check take 20+ minutes. The computer systems are so outdated, it makes even the most experienced bankers look like fools when paging through useless garbage just to answer the simpleist of questions. There is a completely different system to open accounts, and another system to pull documents and statements. The company's intranet is supposed to be a helpful source of information where one can do such things like look up policies and procedures on the fly. After a typical search, you usually come up with 10 pages of junk that you have to sift through to actually find what you want. Marketing material to support sales efforts and drive new business is abysmal. The products compared to another banks just don't stack up. Regional calling efforts are disorganized and un-focused. "Sucess Stories" from around the company are a joke. A word of caution: Research this bank thouroughly before considering a position here. I personally would not bank here in a million years, making it very hard for me to make reccomendations to my customers. I cannot put into words how much I regret my decision to join this bank. Please, consider other options prospective employees and applicants.

    Advice to ManagementAdvice

    Keep doing what you're doing; you're at a bank that supports your outdated thinking and terrible communication skills. By the way, you like the smell of your own farts.

    Doesn't Recommend
    Approves of CEO
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