Sumitomo Mitsui

  www.smfg.co.jp
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2.1 14 reviews

33% Approve of the CEO

Sumitomo Mitsui President Koichi Miyata

Koichi Miyata

(3 ratings)

10% of employees recommend this company to a friend
14 Employee Reviews
in
    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

    1 person found this helpful  

    Terrible company to work for

    Anonymous Employee (Former Employee) New York, NY

    ProsDifficult to think of any pros. The companys location in Midtown East is convenient. Thats about it.

    ConsThe salaries at all levels of the company are below market for the industry.

    The atmosphere around the office is not pleasant. The culture is toxic, and there is a fear that is perpetuated by the Expat community.

    Expats are promoted before American staff.

    Managers do not care about work/life balance.

    There is a glass ceiling for women.

    The Expats look down on American staff.

    The benefits of being an employee are basically limited to health care.
      -There is no such thing as employee day, when employees are treated.
      -The Christmas party costs $50 to attend, $50+ to bring a guest.
      -No stipends for cabs or dinner if you are asked to work late.
      -There are occasionally team dinners and parties, but they generally cost each employee $40-$60, and you are expected to attend.
      -No office cafeteria.
      -Hours are just as long as peers in American banks, if not longer, but pay is much less.
      -HR is not supportive, and does not make employees feel like they are operate on the employees behalf.
      -The pantries are a disgrace. There is literally only green tea and coffee- no milk.

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    Archaic Japanese company

    Assistant (Current Employee) New York, NY

    ProsMakes you appreciate every job you thought hated
    Very retro work environment, think Madmen where women with BA and MBA with good titles are regulated to low level positions and doing things like pouring tea during meetings despite experience.
    Work life balance - very good if you ignore your manager's warnings about working late when there isnt much work to be done, or coming in 5 minutes late due to a sick passenger on the train.
    Manager changes every week, so the manager you hate will most likely not be there soon because they get sent back to Japan.

    ConsCulture
    Compensation - will lowball you and sell you the lack of layoffs
    Technology - they use a access db as their CRM, Lotus notes, Windows XP, IE 6, cloud services is foreign here
    PTO - very low by modern standards
    Sick days - you get dinged on performance review for using it

    Advice to Senior ManagementHire a management consultant from a company like Goldman, Moodys, BarclaysReuters, etc, shake things up, focus on employees.

    No, I would not recommend this company to a friend

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

    1 person found this helpful  

    Terrible...hostile work environment due to very poor management!

    Senior Accountant (Former Employee) Warren, NJ

    ProsThe majority of the employees here were very pleasant to work with, especially the Japanese who were very respectful.

    ConsMy department was a joke! Very unprofessional and very poorly managed. There was a senior tax accountant who was extremely unhappy and hostile. This was permitted.

    Advice to Senior ManagementGet a backbone! And realize that the confidentiality you boast about doesn't exist, especially in the legal department and the president's office. I believed that the HR department was professional and really cared but I found out that they go with the status quo regardless of what they claim.

    No, I would not recommend this company to a friend

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    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    1 person found this helpful  

    Never again.

    Associate (Current Employee) New York, NY

    Pros- You get paid
    - People are generally nice
    - Weekends generally free; 8:30 - 6:30 work hours on most days

    Cons- Inefficient and bureaucratic: a lot of deliberation / discussion over minutiae
    - Inadequate and outdated software and technology; proprietary software is useless
    - Distrust of external sources (e.g., JP Morgan, Credit Suisse, etc.)
    - Condescending, arrogant and dismissive management
    - Minimal investment in employee / career development
    - Unnecessarily long processes (50+ page redundant applications)
    - Just because it takes more time to finish a process, it doesn't make it better. Learn efficiency.

    Advice to Senior ManagementYou may want to invest in your proprietary technology and employees. That means training your employees, knowing in what capacity you want to use each employee, and actually caring about your employees' development.

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

    1 person found this helpful  

    oldschool japanese bank

    Officer (Former Employee) Toronto, ON (Canada)

    Prosstable, good life-work balance, ok pay

    Consno career, no motivation, inefficient approval process, zero risk appetite

    Advice to Senior Managementhaving offices around the world doesn't mean "global".

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

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    1 person found this helpful  

    Need to break the current mould ...

    Anonymous Employee (Former Employee)

    ProsMore active approach to capital usage. Happy to be a commercial bank and operate across many countries to support client needs

    ConsVery disfunctional. Japanese management are more focused on managing their next career steps than improving the business. Technology, policies, processes are all of especially poor standard vs non-Japanese banks and limit competitiveness

    Advice to Senior ManagementLook for more opportunities to westernise the bank from top down, thereby having a more client/employee friendly approach. Senior mgmt should be rewarding Japanese middle mgmt for taking sensible risk, restructuring their businesses, etc

    No, I would not recommend this company to a friend

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

    3 people found this helpful  

    Ok to park but always look to move on

    VP (Former Employee) New York, NY

    ProsNice office location in midtown Manhattan. Bonuses are good depending on the year the organization has had as a whole. Great health benefits.

    ConsBonuses are performance driven; meaning if the company as a whole is not doing well, your bonus will reflect that. It is a Japanese company that is bureaucratic and filled with red tape. Even thought they have operations in the states, the japanese way of doing business overrides and they have difficulty undersanding business ops in the states and other countries. If you are not Japanese you will be the first laid off. Management is not looking out to move the organiztion forward they only care about their next assigment. Super stars leave after the first year or 2 and what is left just maintains operations. Extremely political to a point where nothing gets done in the right way.

    Advice to Senior ManagementStop worrying about your next assignment and try and move the business forward.

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

    1 person found this helpful  

    Be very careful what group you work for.

    Assistant Treasurer (Former Employee) New York, NY

    ProsIts a large multinational bank with great reach.

    ConsYour experience working for the bank depends on which group you are working for. Some groups overwork you without any benefits beyond what others who don't work nearly as hard get too. In the groups that work you hard the words work and life are never in the same sentence.

    Advice to Senior ManagementOverworking people only makes them leave.

    No, I would not recommend this company to a friend

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

    1 person found this helpful  

    Work Place

    Anonymous Employee (Current Employee)

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

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

    Advice to Senior Managementthe management should be flexisble and eager to listen to employee
    compensation should be more competitive and aggressrive to attract talents

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities

    2 people found this helpful  

    Senior Analyst position at Structured Finance Dept.

    Senior Analyst (Former Employee) 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 Senior ManagementThere should be more international persepective to be implemented within the organization.

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