I have been working at Mitsubishi UFJ Financial Group full-time (More than 3 years)
1. Great people. On the business line, I have not met one person who I honestly dislike, especially at Director and below. As with any bank, the older generation (80s and 90s style bankers) have some issues, particularly the ones who didn't grow up in the bank.
2. Improving product suite/risk appetite. We are making a strong push down the credit spectrum into non-IG loans and Capital Markets underwritings. Historically the bank's been a IG loan shop. That's pretty boring. But with the push into Sponsor's, Mid-Corporate, and Leveraged Capital Markets, there's a lot of new energy and business prospects for hungry young bankers.
3. US Management is amazing. The US Head of CIB (including many of the group heads reporting to him) is the best leader I've come across in banking. He is accessible to Juniors, and treats everyone from Analysts to MDs like they matter to the firm. Additionally, he understands exactly what the bank needs to do to be competitive (see Pro #2).
Two years ago, I hated the bank. Now, I can honestly say it's the best bank I've worked for. As a former Bulge Bracket investment banker, I thought I would just force myself to stay in the industry just for compensation. Now I can say I honestly love what I do, largely due to MUFG.
1) Progress is very slow
2) Diversity is poor. Women, Black, and Brown people are non existent starting at VP and above. There are basically no black MDs, and there doesn't seem to be any push to change that, as the focus is becoming women.
3) Change is very slow. MUFG is basically Goldman Sachs in Japan, so Japanese management seems to think we have more weight globally than what we do. That causes some slowness in reacting to the market. That is changing. The Global Head of CIB (an American) recognizes what needs to be done, and is working hard to improve the next generation of senior bankers with strong training programs, as well as empowering US Management to push for necessary changes to be more competitive. However, it's not happening fast.
However, unlike some bulge bracket banks the lack of diversity is not malicious, but rather the way they've recruited in the past. Additionally, despite no diversity, the institution is a true meritocracy, not an old Boys club where you feel marginalized by MDs for being a minority. MUFG actually cares about its people.
Advice to Management
Speed up internal policies to implement change. The bank's heading in the right direction, we just need to speed things up.
I applied through a recruiter. I interviewed at Mitsubishi UFJ Financial Group (New York, NY).
An initial phone screen with two rounds of interviews with the direct manager and the head of risk management. After the interviews there was a negotiation of salary with the recruiter and then an offer was made.