MB Financial Reviews

Updated August 31, 2015
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2.8
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MB Financial President, CEO, and Director Mitchell Feiger
Mitchell Feiger
41 Ratings

Pros
  • great benefits, above and beyond most employers (in 6 reviews)

  • Management was easily approachable, and the work-life balance was promoted all around (in 3 reviews)

Cons
  • All the management team is connected inside (in 4 reviews)

More Pros and Cons

65 Employee Reviews

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  1. MegaBenefits!

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at MB Financial full-time

    Pros

    The megabenefits and culture are a reason to want to be with this company.

    Cons

    Management expects a lot of work out of their employees. 60 hour work weeks are common and the pay doesn't always equate to the expectations. Upper management expects even lower level employees to be available much more than 40 hours a week. Very little work life balance, which is okay temporarily but it became the norm.

    Advice to Management

    Pay attention to your exit interviews. Good people will work hard for you but there comes a point when good people get burnt out.


  2. From My Point of View

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Loan Servicing in Rosemont, IL
    Former Employee - Loan Servicing in Rosemont, IL
    Doesn't Recommend
    Approves of CEO

    Pros

    Had lots of non-cash benefits

    Cons

    No room for growth and development.


  3. Commercial LDP --- Commercial Banking Officer

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Commercial Banking Officer in Chicago, IL
    Former Employee - Commercial Banking Officer in Chicago, IL
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    I worked at MB Financial full-time (More than 3 years)

    Pros

    1. The Company has a solid benefit plan - the annual 401k match is pretty generous. 2. The Commercial Leadership Development Program is a great career starting spot. If you're relatively talented, the program leaders do a decent job of rotating you through several different Commercial groups at the Bank, which allows you to develop a pretty diverse set of skills and knowledge. Regardless of your intentions of whether or not you want to be a lifetime commercial banker, anyone can benefit from going through the credit training program. 3. There are a lot of genuinely good people at MB, and the culture was typically pretty positive throughout my ~3 years there.

    Cons

    1. Compensation is below market. There has been an overwhelming amount of young talent leaving the bank recently because MB simply does not choose to truly invest in its best young people. Commercial Banking is not sexy, and as an industry it's not the most lucrative. That said, it can be a challenging/fulfilling/enjoyable career that TONS of people would stick to if the compensation was in line with the other options out there. For example: I got promoted early from the LDP, and along with that came a raise (standard). Six months later, after being given a great performance review and it was time for annual raises, HR told my manager I was "At Market" and that I wasn't getting a raise. Prime example of the way young bankers are treated. 2. Upon getting promoted from the LDP, I wasn't given any real customers. I was given a list of about 100 companies and told to begin formulating a calling strategy. So, essentially all the underwriting and training I had gone through the previous 1.5 years was now useless because my primary task was to be a glorified door-to-door salesman. Cold calling is still a sales method at MB, and it boggles the minds of most people I've told. At least twice a month, I was supposed to go drive out to industrial parks, and literally walk into companies and ask for decision makers. It's completely absurd and a colossal waste of time/resources. It's also an easy way to drive young talent away.

    Advice to Management

    1. Either invest in your young talent, or do away with the LDP entirely. 2. Cut ties with Customlender and whatever Company provided it. I spent more time as an analyst learning the counter-intuitive processes within that system than I did learning about commercial banking.


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  5. Disappointing

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook

    I have been working at MB Financial full-time

    Pros

    Decent pay and benefits. Some great coworkers.

    Cons

    What is the focus? The company is not competitive and has inherited a lot of bad debt through the Cole Taylor acquisition. Very old school, antiquated thinking/mentality, Total good ole' boys club. Not very stable.

    Advice to Management

    Get bought out


  6. Systems are always down and have to work on my own time.

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Rosemont, IL
    Former Employee - Anonymous Employee in Rosemont, IL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at MB Financial (More than 5 years)

    Pros

    The only thing I can think of is there benefits but not salary.

    Cons

    Software always ran slow or it would be down. The entire banks it systems went down 5 times in one week. Hard to get your job done when the IT systems are always down. Just ask an MB customer.

    Advice to Management

    Stop over working us and atleast give us a salary that we are worth and not just annual 2% raise. Please listen to the employees and not fall in to the management politics and work together.


  7. Lackluster IT Management

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at MB Financial full-time

    Pros

    You can essentially work on whatever you want because management had no idea how toaalocate talent or resources accordingly.

    Cons

    There's multiple managers within IT. The two disadvantaged managers that are putting a damper on the rest start with A and an MM. If you've worked there previously, you'd know. The one that starts with an MM, is a bully and if it came down to it, his Harley wouldn't save him. The one with an A has no clue about current texhnogy and standards . the one with an MM tries hard to be the tough guy leader type but falls seriously short,ainly because he's about 120 lbs. It's too bad managment tries so hard to squander Invaluable resources. Also, I'm hiring a lawyer. Thanks MB.

    Advice to Management

    Sell the company, your all going to be needing to find new jobs soon anyway. What a terrible way to squander resources.


  8. BI Architect

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Stable company, great location, green field for growth

    Cons

    Small company, over worked and underpaid, no vision

    Advice to Management

    Work together with your people to find the best fit for everyone.


  9. Account Executive

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at MB Financial full-time

    Pros

    Positive growth and potential for great income.

    Cons

    Management is very caught up in corporate profits and forgot what made them successful.

    Advice to Management

    Management should listen to the sales staff closer if they want to retain talent.


  10. PERSONAL BANKER

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Personal Banker II
    Current Employee - Personal Banker II
    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO

    Pros

    THE BENEFITS ARE AMAZING!!! THE TRAINING IS TOP NOTCH AND THE COMPANY WORK/LIFE BALANCE IS REALLY GREAT. I HAVE AWESOME COWORKERS AND THE COMPANY GIVES EMPLOYEES TO REALLY CONTRIBUTE TO THE COMMUNITY IN VARIOUS OUTREACH PROGRAMS OR SUPPORT THE NONPROFIT ORGANIZATIONS THE EMPLOYEES ARE INVOLVED WITH.

    Cons

    MB has a major diversity problem. The Senior Managment is comprised of mainly men. It is very difficult for women and minorities to advance in their career. The LDP program (management trainee) is basically 90% white. The only African American managers you will find are in south suburban locations and still its only like one out of 90 branches. The pay is lower than other banks. If you think you are going to get promoted and you are not a white man than you will be greatly disappointed.

    Advice to Management

    Start a development committee for Women, African Americans, Latinos, Asians and LGBQT groups in order to ensure that new qualified candidates are selected from each group to represent the diverse make up of the city. The management trainee program should be diverse as well. Please STOP pairing veteran bankers with young managers that don't know anything or have leadership skills. I currently have a manager that lacks leadership skill, software knowledge and second guesses their decisions all the time. The real managers are the veteran staff members that make 20k less a year!!! DIVERSIFICATION IS THE KEY!!!!


  11. job

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    good company to work at

    Cons

    none that i can think of



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