Pros

UMB cannot retain mid level managers, leaving huge holes in the organization. This creates an opportunity for new grads, or inexperienced transfers from other companies to step into responsibilities they would not be at other firms.

Cons

Pay and incompetent management. The target raise for the Investment Management division was 2.8% in the spring of 2008, with half above and half below. UMB already had most employees at below market salaries.

There are no general managers at UMB, this leads to people trying to do a task job and manage people, the communication is poor, training and career development is very poor, and overall the management of the company is inefficient.

The company is known for not telling employees what their bonus or raise will be until they see it in their paycheck, so there is no opportunity to discuss the decision if you don't feel it is fair. Formal performance reviews are very rare, and when they are done it is normally in relation to a bonus or raise and completed with no feedback opportunity for the employee.

Advice to Senior Management

Their HR system and general ability to recognize and reward employees needs a significant upgrade. Management is so focused on improving short term earnings that they are allowing the foundation of their business to rot out from under them.