Sumitomo Mitsui Reviews

Updated August 16, 2015
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Sumitomo Mitsui President Koichi Miyata
Koichi Miyata
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7 Employee Reviews

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  1. Helpful (3)

    More Cons than Pros

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

    I have been working at Sumitomo Mitsui full-time

    Pros

    Chances to advance Some departments are good to work in Job security. There have been very few layoffs. Bonuses can be a large part of compensation but base salaries lag Employees contribution to healthcare is very low rivaling public employee unions

    Cons

    Leave your ego at home where it can't get damaged. You must not speak or complain loudly. While part of the problems arise because of the Japanese predisposition to seek consensus first the bank, particularly must be dragged kicking and screaming into the 21st century. Credit authority is placed in individuals and if the individual you need is out of the office his authority is delegated up rather than down as in every other bank so approvals are even slower than normal. The poor slobs in the credit department are understaffed and over worked. Burnout is a career path.

    Advice to Management

    While the goal of the bank is to do deals and make money more attention must be paid to provide avenues for career advancement. Bankwide in NY mixed among the deadwood are some very good and talented bankers but most go unnoticed and underutilized.


  2. Helpful (5)

    Inappropriate and Disrespectful Exit Immediately. Just leave now, you are no longer needed.

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in New York, NY
    Former Employee - Anonymous Employee in New York, NY
    Doesn't Recommend
    No opinion of CEO

    Pros

    To be employed and get out. More Japanese than Americans. Know it or you can be an outsider. Be there at exactly on the dot, and if you come up a minute later, you are considered late mark on your performance review. Leave work exactly at 5pm on the clock, no exceptions or your supervisor will yell at you for not being a team player! Move you from convenient Midtown Manhattan office location to JC, NJ to inconvenient your commute and then, laid you off later. Nice and organized annual health fair, it's fair. Standard job salary, benefits, and performance bonuses if you suck up to your boss.

    Cons

    Shut my mouth when it’s time Open it… when it’s time If I want a promotion, do that job without the title and the pay check. They will have to give it to you at one point. Lower my expectations (in term of numbers or delays) Deliver the maximum (and get a huge achievement bonus!) Makes allies in every department, it’s always useful! Because your manager will get you with this in your performance review (poor communication is bad) if you don't socialize and make friends to other department people. She deemed it is important. You can't be yourself and pretend that you like them.

    Advice to Management

    Read it and it's up to you. You get paid to do the upper management job salary. Appreciation is much appreciated.


  3. Helpful (3)

    Stability has a price

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Assistant Vice President in New York, NY
    Current Employee - Assistant Vice President in New York, NY
    Doesn't Recommend
    No opinion of CEO

    Pros

    I feel that SMBC is a place where you can go if you are looking for stability. Very unlikely that they fire or let go anyone. The career path follows the Japanese model where promotions and salary increases come at a slow, but consistent pace (therefore it is not a place for superstars). In a year like 2008, where industry-wide bonuses were down, I had mine increased by a significant amount (perhaps it was too low in the previous year). They throw you in the middle of the ocean, so you must learn to swim fast. In many places they would not give you the same kind of opportunities as they would not probably expect that you become an expert overnight.

    Cons

    The work load can be brutal, especially because things are done in a way (Japanese) that often appears arcane. If your management is Japanese, then dialogue and feedback are limited and communication problems will abound. Form over substance is the rule, so be prepared to make charts, fill checklists and become familiar (for what it is possible) with incomprehensible rules and manuals.

    Advice to Management

    Be open to suggestions and enhance dialogue at all levels.


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  5. Good company to get experience

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    Pay most of rent and give us a lot of training

    Cons

    Not open minded and mono culture. Too long over work.


  6. Helpful (4)

    Work Place

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    No opinion of CEO

    Pros

    Stable career path is ensured as most people stay for years people are reasonable large corporate profitable professionla colleagues are helpful in general

    Cons

    Japanese culture lack of training opportunity lack of networking chance management is very vertical there should be lots of room for improvement

    Advice to Management

    the management should be flexisble and eager to listen to employee compensation should be more competitive and aggressrive to attract talents


  7. Helpful (4)

    Senior Analyst position at Structured Finance Dept.

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Analyst in Seoul (South Korea)
    Former Employee - Senior Analyst in Seoul (South Korea)

    Pros

    - SMBC has strong presence in Asia - SMBC is the 3rd largest bank in Japan and has strong balance sheet capability - SMBC is the most active Japanese bank in the structured finance sector

    Cons

    - Strong Japanese culture - Too strong focus in Asian business

    Advice to Management

    There should be more international persepective to be implemented within the organization.


  8. Helpful (3)

    Risk analyst SMBC

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Risk Analyst in London, England (UK)
    Former Employee - Risk Analyst in London, England (UK)
    No opinion of CEO

    Pros

    Small firm that will allow you to take on alot of responsibilities and tasks. Good chance to learn given the small structure

    Cons

    Japanese promotion structure encourages experience at the firm over genuine potential so can be slow but sure promotion and advanced in career

    Advice to Management

    Encourage the junior staff to work towards potential success and promotion. More team building away days etc to get a good team culture.



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