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BMO Financial Group

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BMO Financial Group

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BMO Financial Group Reviews

Updated Jun 18, 2021

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Found 4,083 of over 5K reviews

3.8
73%
Recommend to a Friend
88%
Approve of CEO
BMO Financial Group Chief Operating Officer Darryl White
Darryl White
862 Ratings
Pros
  • "Respectful of work life balance(in 260 reviews)

  • "It’s definitely a healthy work environment(in 244 reviews)

  • Cons
  • "Sales targets/pressure, can be very busy or very slow depending on the branch(in 92 reviews)

  • "Work-life balance isn't a priority(in 84 reviews)

  • More Pros and Cons
    Pros & Cons are excerpts from user reviews. They are not authored by Glassdoor.

    Ratings by Gender

    This rating reflects the overall rating of BMO Financial Group and is not affected by filters.

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    1. 5.0
      Current Employee, less than 1 year

      Good place

      Jun 5, 2021 - Financial Analyst in New York, NY
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Nice group of people, good working environment

      Cons

      None that come to mind

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    2. 4.0
      Former Employee, more than 3 years

      Good

      Jun 14, 2021 - Anonymous Employee 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Good good good good good

      Cons

      Fair fair fair fair fair

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    3. 5.0
      Former Employee

      I recommend working at BMO

      Jun 2, 2021 - Data Scientist 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Great people to work with. Most people are very friendly

      Cons

      a lot of pressure to deliver projects

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    4. 2.0
      Current Employee, more than 3 years

      Mediocre Bank

      May 17, 2021 - Private Wealth Advisor 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Most of the people are nice to work with and the bank has a good work life balance.

      Cons

      Way too many people have been there for decades and are coasting, especially in the support roles. The bank's technology is so old and inefficient that the bank's efficiency ratio is in the 70's. Peer banks are in the 50's. There are major problems getting their act together on numerous fronts which include; competitive credit card products, retail banking client experiences, mortgages, wealth management, and in private banking. In fact if you look at BMO's wealth management clients most are between the ages of 70 to 90 years old. These are clients from Harris Bank days. It shows the lack of success BMO Wealth Management has had in acquiring new clients. This once again translates back to average products and services being delivered by average employees with seriously dated back room technology. Another big problem in BMO wealth management is TURNOVER. In my first year with the bank 12 people left my department out of 20 some employees...almost 50%. turnover. When calling on existing clients, many say "Oh you be gone in two years so why should I get to know you". Some clients have had 5 advisors in the 7 to 10 years. The bank has little patience to develop new business hence the turnover. The advisors that stay are ones that have good books inherited from others. This has led to a huge problem of favoritism within the wealth management business units. This favoritism borders on outright discrimination where in one wealth management office discrimination was seen based on gender and on age. Discrimination came in the form of who got what accounts, branch banks, leads, offices, etc. I witnessed retaliation by a manager and by the regional manager against to those who spoke up against these actions. Retaliation included termination. All in all, BMO could be a great bank. Their commercial bank is much better and stronger than the retail and private bank. Many of the good people serving in the retail and private banking groups are frustrated. They see what I just described. They feel their hands are tied. Why is this happening? It is because the people in the managing director and regional president roles are very weak. BMO is a big believer in promoting within. Just because someone is a good portfolio manager or a good PWA does not make them a good managing director or regional president. Weak management leads to high turnover, mismanaged policies, inefficiencies, favoritism, discrimination, frustration and lack of real progress.

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    5. 5.0
      Current Employee, more than 1 year

      String leadership, good benefits

      May 15, 2021 - Manager in Chicago, IL
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Smart and hard working people

      Cons

      Some free riders, but everyone is kind.

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    6. 5.0
      Current Employee

      Good company

      May 14, 2021 - Software Developer in Chicago, IL
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Great benefits, work culture and environment

      Cons

      Low adoption of new technology

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    7. 4.0
      Current Employee

      overall rating

      Apr 30, 2021 - Finance Analyst in San Jose, CA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      friendly environment and good health insurance benefits

      Cons

      It is hard to be promoted

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    8. 3.0
      Current Employee

      Compliance

      May 28, 2021 - SVP- Compliance in Chicago, IL
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Good for management thats all

      Cons

      Bad for everyday face to face workers

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    9. 3.0
      Former Employee

      Enjoyed

      May 26, 2021 - Regional Director in Tampa, FL
      Recommend
      CEO Approval
      Business Outlook

      Pros

      I enjoyed working with the people

      Cons

      big banks can be difficult to navigate

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    10. 4.0
      Current Employee, more than 5 years

      Good company

      Apr 23, 2021 - Manager I in Chicago, IL
      Recommend
      CEO Approval
      Business Outlook

      Pros

      More of a family environment than other banks

      Cons

      Lower salary and slow-moving with technology.

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    Viewing 1 - 10 of 4,083 Reviews

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