BMO Financial Group Reviews | Glassdoor

BMO Financial Group Reviews

Updated April 19, 2018
1,802 reviews

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3.5
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BMO Financial Group Chief Operating Officer Darryl White
Darryl White
69 Ratings

1,802 Employee Reviews

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Pros
  • I was always offered superb work/life balance (in 129 reviews)

  • Work life balanced; good benefits but salary may not be so competitive; good in-house learning opportunities (in 120 reviews)

Cons
More Pros and Cons

  1. "Client service representative"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    Great place to work and to build relationships

    Cons

    No cons, great place to work


  2. "Customer Service Representative"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in New York, NY
    Former Employee - Anonymous Employee in New York, NY
    Recommends
    Neutral Outlook
    Approves of CEO

    I worked at BMO Financial Group part-time (Less than a year)

    Pros

    Amazing Team
    Great to meet new people everyday

    Cons

    Some days get repetitive at times

    Advice to Management

    Allow more growth

  3. "Banker"

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

    I have been working at BMO Financial Group full-time

    Pros

    Pay is really quite competitive

    Cons

    Management needs to do more to help bring in business


  4. "Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Analyst in Chicago, IL
    Current Employee - Financial Analyst in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at BMO Financial Group full-time (More than a year)

    Pros

    - solid 401k match and other benefits
    - dedicated to employee training
    - ability to move laterally between groups as the Company keen to retain talent

    Cons

    - severely undercompensated compared to the market and my peers across industry segments / the banking sector


  5. "Benefits"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Assistant in Chicago, IL
    Current Employee - Assistant in Chicago, IL
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at BMO Financial Group full-time (More than a year)

    Pros

    Ok workplace for millenniums

    Cons

    Benefits are horrible and the pay is low

    Advice to Management

    Better benefit plan and compensation


  6. "Project Manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Chicago, IL
    Current Employee - Anonymous Employee in Chicago, IL
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I have been working at BMO Financial Group full-time (More than 5 years)

    Pros

    5% 401 (K) match, job security, Good bonus depending on the grade.

    Cons

    Expensive health care, have to pay $75 per month to include your spouse to the insurance coverage if his/her employer offer insurance. Low or no employee movement, lack of growth opportunity. Pay at least 25% lower than the competitors.

    Advice to Management

    Increase the pay, and make an effort to keep the good employees.


  7. "Better than average bank"

    StarStarStarStarStar
    • 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

    I have been working at BMO Financial Group full-time

    Pros

    This is the fourth bank I have worked at, and they seem to have above average ethics.

    Cons

    Variety is little limited. Most positions are too specialized, so you end up doing the same small task over and over, increasing burnout.

    Advice to Management

    Please provide better opportunities for cross training and movement.

  8. "Relationship Banker"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Comp & Benefits
    • Senior Management
    Current Employee - Relationship Banker
    Current Employee - Relationship Banker
    Doesn't Recommend
    Negative Outlook

    I have been working at BMO Financial Group full-time (Less than a year)

    Pros

    I am honestly yet to find a pro compared to other banks. Maybe, some of my co-workers?

    Cons

    BMO cut all health benefits. They offer one high deductible plan. I actually came to BMO because it seemed like they took care of their employees. I found out quickly they do not. I was lied to by the recruiter who said they offer multiple comprehensive care plans. I was also lied to about my job duties. I did not know i would have to run a teller drawer until I started with BMO.
    Very underpaying compensation plan. For instance a credit card gets you more comp than a 100k Heloc. What is that?

    Advice to Management

    Don’t skimp health insurance options to your employees. That’s one of the lowest moves a big company can do. A multinational financial institution can’t offer more than 1 high deductible health plan? That’s absolutely insane. Get it together and figure something out. It’s worse than Chevy Chase’s boss pulling Christmas bonuses in Christmas vacation. I’ll be looking for a new job ASAP!


  9. Helpful (1)

    "Mostly positive with some heavy frustrations"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Analyst in Chicago, IL
    Current Employee - Senior Analyst in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at BMO Financial Group full-time (More than 3 years)

    Pros

    Great people around you and good retirement match 5% + 2% additional now that pension is no longer being funded. Some good opportunities to put your hand up to get involved in new/exciting projects. Year-end bonuses are more competitive than many other banks. Supposedly management is eager to help you truly find an area of the bank you wish to work in., granted, I have not personally witnessed this anywhere near my area.

    Cons

    Slow/old technology, data issues for days, no action from management after continuously poor employee survey results (Pulse), low to no raises (sitting stagnant), low appreciation or acknowledgement for taking on new projects successfully, bonuses are paid out more on feelings/budget vs what an employee achieved throughout the year. Illusion of management wanting to help you find a new role within the bank (felt this one personally and have seen several co-workers get shot down in similar fashion). No sense of urgency or responsibility from lines of business to answer questions for other groups, almost ensuring anything important will have to be escalated to their boss, or higher yet to get answers in a reasonable time all the while upsetting somebody into doing their job!

    Advice to Management

    Improve tech, speed up data access for users who truly need the data for required reporting to FED/OCC, etc. If you're going to trim "fat" then at a very minimum keep the "strong" employees happy via compensation/perks/vacation/bonus or the revolving door will keep spinning faster. Take a look at the Pulse results and accept some criticism instead of dodging every bad result.


  10. Helpful (1)

    "A job like anywhere else"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends

    I worked at BMO Financial Group full-time

    Pros

    I got along well with my colleagues. There was, in my group at least, a culture of collegiality.

    Cons

    Relatively poor infrastructure and technology

    Advice to Management

    Spend more on technology. You can not expect to be a top tier organization without upgrading.


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