KeyBank

www.key.com

KeyBank Reviews

Updated January 24, 2015
Updated January 24, 2015
418 Reviews
3.2
418 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
KeyBank Chairman and CEO Beth E. Mooney
Beth E. Mooney
184 Ratings

Review Highlights

Pros
  • Solid work/life balance with opportunity to move around a large organization (in 37 reviews)

  • Fairly base pay and Good benefits package (in 27 reviews)


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

  • There is a severe disconnect today with upper management (in 15 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1.  

    Great company to work for and advance your career.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee in Buffalo, NY
    Current Employee - Anonymous Employee in Buffalo, NY

    I have been working at KeyBank full-time (more than 10 years)

    Pros

    They care about the employees. Career growth is always there and they look for ways to help develop employees. Work/home life is a priority. Employee engagement is a priority to local upper management.

    Cons

    Healthcare benefits need improving.

    Recommends
    Positive Outlook
    Approves of CEO
  2.  

    Teller

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at KeyBank

    Pros

    Professional work place, coworkers are great and friendly. The company culture is awesome!

    Cons

    It would be nice if the promotion process/steps can speed up a little bit.

    Recommends
    Positive Outlook
  3.  

    It got me by for the time being

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Teller in Sandy, UT
    Former Employee - Teller in Sandy, UT

    I worked at KeyBank full-time (more than a year)

    Pros

    I enjoyed the people I worked with and their proactive attitudes in helping me learn the position.

    Cons

    Very understaffed in numerous locations, hard to feel ok about taking time off. Very by-the-book, big-bad-corporate culture.

    Advice to ManagementAdvice

    Better scheduling for coverage, help tellers want to grow and teach them how to do so in that environment.

    Recommends
    Neutral Outlook
    No opinion of CEO
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  5.  

    Best Work Place ever .

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Float Teller (Seasonal)
    Current Employee - Float Teller (Seasonal)

    I have been working at KeyBank

    Pros

    Friendly, Professional, Relaxing and Fun environment

    Cons

    None at all what so ever.

    Advice to ManagementAdvice

    .

    Recommends
    Positive Outlook
    Approves of CEO
  6.  

    Pretty good. Not for everyone.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Personal Banker in Salt Lake City, UT
    Current Employee - Personal Banker in Salt Lake City, UT

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

    Pros

    Great work to life ratio. Hours are great. Management really takes their time to get to know you and help you grow.

    Cons

    Raises come sparingly. And when they do, they are not significant enough unless it's a promotion. Job is very monotonous at times.

    Advice to ManagementAdvice

    Encourage employees to do better work with raises. Employees get complacent knowing salaries aren't moving up and provide mediocre output because of it.

    Recommends
    Positive Outlook
    No opinion of CEO
  7.  

    great company to work for

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at KeyBank

    Pros

    benefits and pay company really takes cares of employees

    Cons

    schedule location sometimes micro managed

    Recommends
  8.  

    KeyBank

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Relationship Manager I in Seattle, WA
    Current Employee - Relationship Manager I in Seattle, WA

    I have been working at KeyBank

    Pros

    Good work balance and excellent community involvement.

    Cons

    Production goals are higher than other comparable positions

    Recommends
    Negative Outlook
    Approves of CEO
  9. 6 people found this helpful  

    Working at Key Bank

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Branch Manager
    Former Employee - Branch Manager

    I worked at KeyBank full-time (more than 3 years)

    Pros

    Benefits, Paid time off, recognized brand

    Cons

    I worked for Key as a branch manager for about four years. Quite frankly, it is a very disorganized, poorly run company. Although I may sound like a disgruntled employee, that’s really not the case. I worked for some good people along the way and it wasn’t always this way. I left because of excessive micromanagement and extremely poor staffing, along with several other issues I’ll outline below.

    First and foremost, Key Bank is the least original bank out there. Whatever Bank of America, Chase or Citi are doing, Key will do it six months later. It literally is a race to the bottom when it comes to who can do more with less. All national and regional banks are cutting staff and trying to have the best efficiency ratios. If you are managing a branch, this means less employees every year. That makes it much more difficult to generate sales and to provide decent customer service. Key’s solution (like their competitors) is to push people to online or mobile channels. If the customers don’t like the line at the branch, they will use the ATM, their phone or online banking. It might save some expenses but eliminates many sales opportunities. It also has a negative impact on older clients, but Key doesn’t seem to care.

    Second, staffing is not a concern. It may take several months to fill a position. There is no sense of urgency from anyone. It almost seems like a policy to leave positions open to save money. Teller positions are not valued by upper management at all. They doubled teller referral goals this year and have fire many long-term tellers because of it. Most of the tellers that are hitting their goals aren’t doing so ethically, but those are the people getting all the recognition. Why someone in upper management doesn’t question how someone is doubling or tripling their production overnight is beyond me. As a company that is always cutting costs, they pay a lot out in incentives to people doing things the wrong way.

    Third, if you manage a branch for Key, expect EXCESSIVE micromanagement. It wasn’t always that way but is now the culture. You will get excessive emails, have to do excessive amounts of tracking of your daily activities and have excessive conference calls. Expect that to take up a minimum of ten to fifteen hours of your week if not more. That is not an exaggeration. You can have a great month and be doing well year to date, but have a bad week or two and you will be called out on it.

    Fourth, computer systems are horrible, slow and very dated. Expect them to be down a lot. Some systems don’t interface well with others. They have an old DOS based system they won’t train anyone on because they tell you it is going away. Except they’ve been saying that for ten years. There are literally so many systems and everything is so disorganized that they have to have a special employee helpdesk to help you find answers and procedures. And forget it if you want to call a department directly. You have to call the helpdesk first and if they can’t answer your question, then they MIGHT put you through to the department responsible. If you have to call for help, expect to be on the phone up to a half an hour or more.

    Fifth, outsourcing is rampant. Some of the few internal departments you can call directly (like accounts payable) are now in India. Their English is broken at best and you will usually have to have them email you because you won’t understand them. This is not be insulting to them. It’s just a fact. They also outsourced a great deal of customer service and online banking support. I would get numerous complaints weekly from customers because of this. Key is a Cleveland based bank. Their outsourcing has created an environment of fear at the corporate offices and frustration for their customers. It hardly seems worth it.

    Sixth, if you work in a branch and want advancement or to move to the corporate offices, forget it. Regardless of your performance or education, they will consider other corporate employees or outside candidates long before anyone that works at a branch. They also won’t ever communicate with you to tell you if you got the job or not. In most cases, you’ll never get an interview. It goes back to the staffing piece. They aren’t in a hurry to fill positions and if they can figure out a way to outsource it, they will.

    Last, training is horrible. If you don’t heed my previous warnings and get a job with Key, expect to have to figure out your job yourself. It is pretty much trial by fire. For some people that is okay. I obviously made it through but I watched a lot of people get frustrated and quit. That is because you are expected to start producing after the first couple months and if you don’t know procedures, where to find information or have to constantly call a helpdesk, you will likely start out underperforming. As a manager, it is very frustrating to lose people because of something like training when it takes so long to hire someone in the first place. If you have to start over, it may take another couple months to find someone else. There really needs to be better organization and communication for new employees. With constant reductions in branch staffing, that needs to come from a centralized training coordinator or someone responsible for it in each region.

    Advice to ManagementAdvice

    I think there is a lot of advice that can be drawn from my list of cons above. I would say the most import thing they could do is place more value on their people. People are doing the jobs of three people and still scared their job will be outsourced, eliminated through restructuring or that their goals will go up significantly next year and they won’t be able to hit them. When Key Bank merged with Society 20 years ago, there were over 30,000 employees. Last year there were 15,000, this year, they say “over 14,000”. I recognize there is a lot of efficiencies gained through technology since the 1990’s but they have to recognize this is a people business and there is value in face-to-face interactions with customers.

    Next, I would start trying to be original. As stated above, they follow whatever the other big banks are doing instead of trying to do it differently. A great deal of efficiency could be had if they would just invest in technology. I also think that they would find better sales per branch if they would add some staff instead of always slashing jobs. In my region, I saw a lot of great, long-term bankers and tellers leave or lose their jobs. These people had great relationships with clients and generated a lot of business for the bank. In the name of efficiency and cost cutting, many people and positions are permanently gone. Instead of looking at employees and seeing them an expense, they should be looked as assets.

    Last, upper management needs to have better priorities – especially Beth Mooney. It seems she is more worried about being a celebrity CEO and maintaining her title as “the most powerful woman in banking” than she is anything else. If there is a large enough donation, a chance to be on television or a chance to get interviewed for a paper or magazine, she’ll be there. Otherwise, she’s invisible – except for the outrageous paycheck she receives. The years the bank cut the most jobs and did the most outsourcing were the years she received the biggest bonuses. She should be ashamed and shouldn’t be able to sleep at night. Those tough years would be the time to do something different than the other banks. Be a hero and try to save as many local jobs as possible, maybe accept your salary but decline a couple million in bonuses, scale back on donations, whatever it takes to save jobs. Key can donate millions of dollars to renovate Public Square in Cleveland but then they do whatever they can to eliminate jobs in Cleveland to save a few bucks. I think that shows where their priorities lie.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  10.  

    Not a good experience

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Personal Banker
    Current Employee - Personal Banker

    I have been working at KeyBank

    Pros

    Salary is the best part of the job. Don't know what else to say but I have to have atleast 20 words for this to post...

    Cons

    Goals are unrealistic, training is minimum, systems are impossible to learn and they get upset when you ask for help

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  11.  

    Work part time for 3 years

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Bank Teller in Cleveland, OH
    Current Employee - Bank Teller in Cleveland, OH

    I have been working at KeyBank part-time (more than 3 years)

    Pros

    Good co-workers.
    Good Hours.
    They do have a college payment program for full and part time people.
    Benefits are okay but not great.

    Cons

    I have been looking for a full time position for about a year and still can't find one. Goals are hard to meet and they keep raising.

    Advice to ManagementAdvice

    My advice is to stop concentrating on goals. You set goals for people to reach. When you are expected to be at 100% all the time, that is not a goal, that is requirement. If you set a goal at 10, then the required amount should be 8 or 80%. That makes a lot more sense. Fearing you are going to lose your job because you're not hitting "goals" is unacceptable.

    Doesn't Recommend
    Neutral Outlook

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