KeyBank

  www.key.com
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KeyBank Reviews

Updated Jul 28, 2014
All Employees Current Employees Only

3.1 354 reviews

67% Approve of the CEO

KeyBank Chairman and CEO Beth E. Mooney

Beth E. Mooney

(153 ratings)

52% of employees recommend this company to a friend

Review Highlights

Pros
  • Solid work/life balance with opportunity to move around a large organization (in 32 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
354 Employee Reviews
Relevance Date Rating
in
    • Culture & Values
    • Work/Life Balance
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    Great Company

    Anonymous Employee (Current Employee)

    ProsStable company that does it's best to appreciate employees

    ConsCorporate. That says it all.

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

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    • No Opinion of CEO

     

    I enjoyed my time at KeyBank

    Teller (Former Employee)

    ProsGreat people, benefits are decent, very willing to work with me when I experienced serious medical issues, pay is pretty standard for the industry.

    ConsDifficulty advancing. I possess a bachelor's degree but couldn't seem to move beyond position of Teller.

    Advice to Senior ManagementPromote from within!

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

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    It was a good company to work for opportunities to advance.

    Relationship Manager (Former Employee) Beechwood, Stark, OH

    ProsBeing able to be involved with several different organizations that interest you with individuals who share the same interest.

    ConsCertain managers weren't very professional.

    Advice to Senior ManagementTake management courses in order to perform their job correctly

    Yes, I would recommend this company to a friend

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

     

    Great!

    Anonymous Employee (Current Employee)

    ProsGood work/life balance. The benefits are good as well.

    ConsI don't have any cons and I really like the company.

    Yes, I would recommend this company to a friend

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    • No Opinion of CEO

     

    A Good Bank With Typical Bank Issues

    Relationship Manager (Former Employee) Cleveland, OH

    ProsPay and Benefits decent, coworkers care for the most part, most products well conceived, if you sell you usually get support, consistency of the brand

    ConsSr management seems stuck in slow mode, technology needs overhaul, political petty games, constantly changing directions, want sales but no pay to do so

    Advice to Senior ManagementLeave your ivory towers and ask the leaders in the field what is needed, try to think like innovators and dare to lead change in banking. - you're doing nothing innovative.

    Yes, I would recommend this company to a friend

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    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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    Keybank has changed it's direction multiple times in the last two years.

    Small Business Relationship Manager (Former Employee) Denver, CO

    ProsIn the retail market, they pay some of the best salaries. Their benefits are decent.

    ConsKeybank changed direction 6 or 7 seven times during my three year tenure. The most recent change is the most challenging. They are shifting from a relationship based community bank, to a large product pushing - Wells Fargo Bank - model. The goal has changed from organic relationships, too pushing as many products as possible on all customers so it is difficult for them to change banks in the future.

    Advice to Senior ManagementPick a direction and stick to it. Do not assume a high producing banker will automatically become a great manager and mentor. My experience showed the exact opposite. The company as a whole I think is a better representation then the Colorado market specifically. Once change at the top occurred about 15 months ago, morale slowly went down.

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

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    Low Morale in Branches

    Anonymous Employee (Former Employee)

    ProsDecent pay, opportunities for advancement

    ConsOverworked, tired, sell - sell -sell

    Advice to Senior ManagementRecognize the hard work of the employees

    No, I would not recommend this company to a friend

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    It is your standard banking job.

    Personal Banker (Former Employee) Denver, CO

    ProsSteady pay, exact hours. Good first job out of college.

    ConsMediocre pay, little communication across the different levels (sales, marketing, branch ops, etc.)

    Advice to Senior ManagementLend money. Much harder these days to drive revenue in loan origination when banks do not want to lend even the those with very good credit and income.

    No, I would not recommend this company to a friend

     

    It was a decent place to work.

    Anonymous Employee (Current Employee)

    ProsI liked the customers and coworkers.

    ConsThe training and company values.

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