Sumitomo Mitsui Banking Corp

  www.smbc.co.jp
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Sumitomo Mitsui Banking Corp Reviews

Updated August 6, 2014
Updated August 6, 2014
9 Reviews

2.6
9 Reviews
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Employee Reviews

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  1.  

    Salary is ok but basically no career path for non-Japanese employee

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

    I worked at Sumitomo Mitsui Banking Corp full-time

    Pros

    balanced life, stable salary, friendly environment

    Cons

    no career path, hierarchy, traditional Japanese corporate culture

    Doesn't Recommend
  2.  

    Great place to start your career

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

    I have been working at Sumitomo Mitsui Banking Corp as an intern for less than a year

    Pros

    Great environment to work at. People are extremely pleasant and everyone gets their work done. Upper management are super friendly and easy to talk to. Dress code is extremely casual which is great for college students who aren't looking to spend a lot to impress others at their first job/internship.

    Cons

    Little room for vertical mobility. Interns have worked here for over a year and have little room to grow.

    Advice to ManagementAdvice

    Management should focus on performance of interns and see whether or not they might be good fit for the company. There are interns who do more work than the hires but get little notice.

    Recommends
    Neutral Outlook
  3.  

    Horrible company to work for

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

    I have been working at Sumitomo Mitsui Banking Corp full-time for more than a year

    Pros

    It looks "decent" on the resume

    Cons

    So antiquated. They dont care about their employees. HR told me I needed to buy my own calculator for work. We pay for our own christmas party...this is all when the bank is doing well. The Japanese expats look down on everyone. Promotion hardly ever happens. Their pay on All levels is way below the labor market for the industry.

    Doesn't Recommend
    Neutral Outlook
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  5.  

    HR

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

    I have been working at Sumitomo Mitsui Banking Corp for less than a year

    Pros

    NO pros did not like anything

    Cons

    bad environment not pleasant people

    Doesn't Recommend
    Negative Outlook
  6.  

    Not so great..

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

    I have been working at Sumitomo Mitsui Banking Corp

    Pros

    Job stability
    Above average salary
    Long term employment

    Cons

    Not progressive for non-Japanese.
    Extremely slow decision making.
    Management positions are filled by people with little or no experience in the field.
    Lack of flexibility to manage work-life balance.
    Only people who work late hours are considered efficient.
    No growth for women, as it is typical male dominated.

    Advice to ManagementAdvice

    adapt with the changing times rather than sticking to old traditional banking methods.

  7.  

    Plodded along here for years with no real career progression.....

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee  in  London, England (UK)
    Current Employee - Anonymous Employee in London, England (UK)

    I have been working at Sumitomo Mitsui Banking Corp full-time for more than 5 years

    Pros

    Colleagues, bonuses (sometimes), OK atmosphere

    Cons

    Lack of career progression, not paying market rate or retaining existing & experienced people, rubbish maternity pay, Japanese staff progress very rapidly through the ranks ahead of the experienced British staff.

    Advice to ManagementAdvice

    Review employee salaries & maternity/benefits packages quickly, reward the good workers you have by offering career progression,

    Doesn't Recommend
    Neutral Outlook
  8.  

    Cultural Differences make for a challenging workplace

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Assistant General Manager  in  London, England (UK)
    Former Employee - Assistant General Manager in London, England (UK)

    I worked at Sumitomo Mitsui Banking Corp full-time for more than 5 years

    Pros

    Stability of employment: In general, SMBC doesn't hire and fire as readily as most international banks. Japan's ageing population means that SMBC has a focus on deriving a larger proportion of income from the International business meaning that this will be a focus for increased investment and therefore job and career opportunities.

    Cons

    A very hierarchical structures means that local management are unable to make any meaningful decisions as everything needs to be sent to head office in Tokyo. This makes for an incredibly slow moving organisation with almost no focus on customer service. Differences between Japanese culture and most Anglo Saxon / European cultures makes for an us and them organisational culture, which can be challenging to work in.

    Advice to ManagementAdvice

    If SMBC is serious about the International business becoming a larger contributor, the bank must focus on decentralising with more trust and authority to be vested with local and non-Japanese management.

    Doesn't Recommend
    Positive Outlook
  9.  

    Salary

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Manager  in  Tokyo (Japan)
    Current Employee - Manager in Tokyo (Japan)

    I have been working at Sumitomo Mitsui Banking Corp full-time for more than 8 years

    Pros

    In japan this company's salary is higher than other japanese company. Bonus is already determined by position.Very stable company.

    Cons

    No benefit exclude salary.If there is no benefit,I need more salary.
    This company could not be speedy decision. Old culture

    Doesn't Recommend
    Neutral Outlook
  10.  

    Good & inclusive environment, friendly colleagues

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Contract
    Former Employee - Contract

    I worked at Sumitomo Mitsui Banking Corp

    Pros

    Good mentorship, helpful fellow colleagues
    Very inclusive environment
    Friendly Colleagues in the department
    Opportunities aplenty (if you are proven to be good)

    Cons

    Pay (Not as attractive as what American / European banks are offering)
    Less flexible, rather strict in terms of punctuality

    Advice to ManagementAdvice

    To stay competitive in the banking industry, would have to increase the pay to staff so as to ensure that talents are not lost to competitors

    Recommends

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