KeyBank

  www.key.com
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KeyBank Reviews in Cleveland, OH

Updated Jul 23, 2014
All Employees Current Employees Only

2.9 92 reviews

60% Approve of the CEO

KeyBank Chairman and CEO Beth E. Mooney

Beth E. Mooney

(47 ratings)

50% of employees recommend this company to a friend

Review Highlights

Pros
  • Solid work/life balance with opportunity to move around a large organization(in 31 reviews)

  • KeyBank has good benefits and start off with great vacation time(in 23 reviews)


Cons
  • No work life balance and incompetent Senior Management(in 10 reviews)

  • There is a severe disconnect today with upper management(in 16 reviews)

92 Employee Reviews Back to all reviews
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    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
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    • No Opinion of CEO

     

    Good Potential, Uneven Delivery

    Anonymous Employee (Current Employee) Cleveland, OH

    ProsThere are a large variety of projects to work on, and I'm always busy. My Manager really works hard to get our group a seat at the table, and will always stand up for us. We have the ability to work remotely, which is a great example of "work is a thing you do, not a place".

    ConsThere are a lot of gaps when trying to communicate across teams. Many projects are set up on too large of a scope to get any traction and often will crumble under their own weight. While working remotely can be an advantage (see above) serious technical issues, especially around meetings, happen way too often.

    Advice to Senior ManagementFocus more on making the right decision the first time. While admitting your mistakes is appreciated, the start and stop "progress" on major initiatives is frustrating. "Too difficult" and "Too expensive" become tiresome very quickly, and it makes it difficult to believe in "new" initiatives.

    Yes, I would recommend this company to a friend – I'm not optimistic about the outlook for this company

    • Culture & Values
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    • Senior Management
    • Comp & Benefits
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    • Approves of CEO

     

    Good job security, takes advantage of workers.

    Investment Banking Analyst (Current Employee) Brooklyn, OH

    ProsJob security - Aside from branch workers, the rest of the bank is fairly stable so long as the bank doesn't get acquired by one of the big boys.

    Great Co-workers - I have been in 3 different departments over the years and all of them have had terrific employees. Genuine people, hard working (for the most part), employees who really help each other out. Many departments are female dominated (80%+), and very diverse.

    Decent Tuition Reimbursement - They will cover tuition up to $6k per year, but they will fight you on every penny. Eventually they will hold up to their end of the bargain, but its disappointing that they dispute every fee.
    401k match - currently still matching dollar for dollar on your 401k up to 6% of your paycheck, which is a rarity these days.

    Strong emphasis on internal applicants - It is not uncommon to hire from the outside, but there is a large advantage to internal applicants (I expect this is the case everywhere though).

    ConsLow pay - I'm sure everyone thinks they are underpaid, but KeyBank routinely offers you significantly less than what they even admit is the "market rate". If there is a pay range listed on a posting, expect to make 10-15% less than the so called "market rate"

    Little linear mobility - In most areas of the bank, you must leave departments if you are looking to move up. Managerial positions rarely open up in any one department, you will have to zig zag through to company to progress. Also, they take advantage of internal applicants, moving them up 2-3 "pay grades" but only paying 2-4% more than their old position.

    Poor Insurance - For such a large corporation, the health insurance is not very good. I am fortunate to have a husband who has great health coverage so I no longer use Key. Its has only gotten worse in the last couple years. Since 2011, premiums are up over 40%, deductible and out of pocket max have almost doubled, and coverage has gotten poorer. The most popular plan option for those with children is no longer even offered.

    Financial Market instability - After the last financial crash, the bank downsized staff significantly (as is to be expected). Will the very strong potential for another downturn in the coming years, this may be a concern for new employees. Also, with instability, comes the risk of takeovers. Key is based in regional-bank-dominated Ohio, which may be appealing for WF, BOA, Chase, etc.

    Advice to Senior ManagementStop trying to squeeze every ounce of work from every employee. Downsizing by attrition is common, expecting 2 people to do the work of 3 once someone leaves. Be honest about pay-grades and upward mobility. Managers should also strive to know the actual tasks their subordinates are performing, nobody respects a manager if the manager has no idea whats going on.

    Yes, I would recommend this company to a friend – I'm not optimistic about the outlook for this company

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    • No Opinion of CEO

     

    Technology Department(s)

    Anonymous Employee (Former Employee) Cleveland, OH

    ProsPTO time after 5 years is good.

    ConsManagement needs to learn how to manage.

    Advice to Senior ManagementWeed out bad management.

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    • Culture & Values
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    Management is lazy and incompetent

    Anonymous Employee (Former Employee) Cleveland, OH

    ProsBenefits are good
    Working with customers was enjoyable
    Good work/life balance

    ConsPetty, juvenile employees
    Lazy and incompetent managers
    Few employees operate with ethics
    Unethical management
    Lots of customer complaints on bank fees

    Advice to Senior ManagementThey think they know it all, theres nothing to advise them on and they all think they are awesome and that they are the reason for success, not the employees actually doing the work.

    Overzealous, tons of overlap on reporting numbers. They gather numbers then dont do anything with them. Makes me think all managers have to report their numbers to their managers for sole purpose of creating work for everyone else.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

    • Culture & Values
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    • Approves of CEO

     

    Lack of resources

    Licensed Relationship Manager (Former Employee) Cleveland, OH

    ProsGreat people and great vacation time

    ConsBad technology and low resources

    Advice to Senior ManagementInvest in technology and training.

    Yes, I would recommend this company to a friend

    • Culture & Values
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    • Approves of CEO

     

    Short but sweet!

    Project Manager (Current Employee) Cleveland, OH

    Prosshort commute, flex hours, mobile working, good working conditions

    ConsLarge company, leadership to co-worker balance is adequate, training should be for contractors also!

    Yes, I would recommend this company to a friend

    • Culture & Values
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    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

    1 person found this helpful  

    IT area

    Anonymous Employee (Current Employee) Cleveland, OH

    ProsGreat benefits - especially vacation and 401K match

    Cons-Highly political / cut throat.
    -No clear vision
    -Constantly switching direction causing workforce to swirl
    -They make their numbers look great while spending millions of dollars in wasteful development.

    Advice to Senior ManagementRegarding Key Values: Practice what you preach. Your words are vapor.

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
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    • Approves of CEO

     

    Overall good place to work.

    Compliance Analyst IV (Current Employee) Cleveland, OH

    ProsFlexible scheduling including working from home and opportunity for meaningful work.

    ConsLimited opportunities to advance and small raises despite good reviews.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    OK Work If You Can Get It

    Investment Analyst (Current Employee) Cleveland, OH

    ProsThe work life balance is good. Remote, mobility centers, and standard offices/cubes are supported through capitalization. Upper and lower management are effective. Very customer/area oriented with community bank bank model focus implementing super regional resources.

    ConsUpward career tracks are somewhat challenged at lower end with efficiency initiatives. Healthcare benefits discourage families but this seems to be the trend nation wide. Healthcare benefits took a hit in 2014 but this may be partially due to new legislation. Turnover of middle management seems to be more than average.

    Advice to Senior ManagementNone

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    1 person found this helpful  

    No raises given to young technology employees, no incentive to stay

    Systems Engineer (Former Employee) Cleveland, OH

    ProsStable and subdued workplace, 401k match.

    ConsCulture involves fearmongering and control, poor opportunities for personal growth, poor salary increase schedule, regular rounds of layoffs, no respect for technical staff (they are considered disposable). Benefit cost high versus other companies.

    Advice to Senior ManagementThe company will be more competitive with technical offerings, not more marketing and fees. Regarding technical staff as non-valued cost center employees who exist to fulfill whatever marketing develops is sure to result in technology product offerings that are unstable, non-innovative, and weak compared to competitors such as USAA FSB.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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