BMO Financial Group Reviews | Glassdoor

BMO Financial Group Reviews

Updated July 11, 2017
133 reviews

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BMO Financial Group President and CEO, BMO Financial and Director Bill Downe
Bill Downe
60 Ratings

133 Employee Reviews

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Pros
Cons
  • Work life balance has gotten worse over time (in 42 reviews)

  • Stressful sales targets and pressure to achieve target but if you're good at your job that shouldn't matter at all (in 50 reviews)

More Pros and Cons

  1. Helpful (1)

    "Poor Senior Management"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Milwaukee, WI
    Former Employee - Anonymous Employee in Milwaukee, WI
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Large company with lots of opportunity to learn different jobs in financial services

    Cons

    Worst Senior Leadership Ever. This is a Canadian company and the US is treated like the red headed step child. Outdated computer systems. Clunky and cumbersome operations processes.

    Advice to Management

    Actually listen to the consistent, poor annual reviews that are given on the employee engagement surveys.


  2. Helpful (2)

    "Run and don't look back!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Personal Banker in Chicago, IL
    Former Employee - Personal Banker in Chicago, IL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at BMO Financial Group full-time (More than a year)

    Pros

    None, but for the sake of argument, it's a job.

    Cons

    -Below industry pay for the workload
    -No work-life balance
    -Some location did not have guards...if that location was unfortunately robbed, expect a security guard for about a month...your life is not worth the price tag of keeping someone longterm
    -Management was a joke that only cared about numbers and not quality or substance for customers
    -They want to be Chase Bank so bad but lack the $$$, resources like simple online/mobile app features, or the company software to accomplish much or up-sell to customers

    Overall, If you're a millennial, and used to a fast, fun, and used to a cool free spirited company atmosphere (Happy hours, parties, catered lunch day, ect), where you can grow professionally, this wont last long for you. This place is run by old guys with stiff suits who don't care much for the changing times we live in.

  3. Helpful (2)

    "Mortgage Banker - Stay Far, Far Away."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Mortgage Banker in Chicago, IL
    Former Employee - Mortgage Banker in Chicago, IL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Bank holidays and insurance options are good, otherwise none. Unless you want to make a career doing Doctor Loans or Affordable Lending there is no reason to work here.

    Cons

    Where to start? Technology is 20 years behind. Operations staff at all levels are poorly trained and not accountable. Many lack product and guideline knowledge as well as a fundamental understanding of real estate transactions. This makes it all but impossible to focus on generating new business when your job becomes babysitting files and damage control with your clients. There is a shocking disregard for customer service and the mortgage applicant's experience. The same goes for your referral sources and relationships. Once your realtors get a taste of the BMO Mortgage process they will never want to refer you business. The entire file process is SLOW and broken.

    Advice to Management

    Replace your entire mortgage upper management with people who have real mortgage experience outside of a bank. The entire industry is doing it much better than you. The misguided efforts towards marketing and becoming a price leader are more than offset by the black hole that is the BMO mortgage pipeline. Instead, try investing in technology and properly training your processing and operations staff so you can actually close loans in less than 60 days and really "be there to help".


  4. Helpful (1)

    "A culture of old boy network"

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

    I worked at BMO Financial Group full-time (More than 3 years)

    Pros

    The pay and benefits are decent.

    Cons

    Constant changes and unwilling to hire right people to do the job. Too much cronyism in the office, It's unbearable to watch management constantly make discriminatory hiring practices.

    Advice to Management

    Practice your stated ethics and values instead of performing lip services


  5. Helpful (6)

    "I've had better."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Risk Analyst in Chicago, IL
    Former Employee - Senior Risk Analyst in Chicago, IL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at BMO Financial Group full-time

    Pros

    Best reasons to work here are, you enjoy inflicting pain on yourself, you have a death wish, you thrive on torture, or you just don't care.

    Cons

    Micromanagement, low pay and uncompetitive benefits, no growth-senior workers have to die off or retire to create openings. No remote work option due to extreme micromanagement. Can't take accumulated vacation due to micromanagement.

    Advice to Management

    Stop outsourcing HR to give the illusion of unbiased support. Employees have nowhere to go when managed by a micromaging, unprofessional, insecure, long term, brown- nosed manager. There should be accountability for lousy, inept managers.


  6. Helpful (3)

    "Worst employer ever!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Analyst in Chicago, IL
    Former Employee - Senior Analyst in Chicago, IL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at BMO Financial Group full-time (More than a year)

    Pros

    The only pro that I can put forth is that it was a paycheck. Minimal, but a paycheck nonetheless.

    Cons

    Backwards in every sense of the word. Old bankers mentality...women don't have a say. Read other reviews, this is a common theme because it's true. Management rules by favoritism, extreme micromanagement, and withholding of salary increases to manipulate staff. Very inbred, most came out of high school 35 years ago and never left, hence the backwardness. No new, fresh talent. Same OLD way of thinking and doing business. If you unfortunately interview there, look out for the "dragon". You've been warned. Once you're in, you'll spend every second of every day regretting it. I did! I could not get out fast enough. Please don't do this to yourself. ANYTHING is better.

    Advice to Management

    Clean house. Recruit fresh talent. Update technology...you can't run a business on Excel! Come into the current century.


  7. Helpful (5)

    "RUN AWAY FROM THIS PLACE"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Universal Banker in Madison, WI
    Former Employee - Universal Banker in Madison, WI
    Doesn't Recommend
    Disapproves of CEO

    Pros

    It is hard to think about the pros of this company.. I guess it paid the bills.

    Cons

    This company is terrible! They do NOT care about their employees, they are just numbers to them. Management is horrible.. They are disrespectful, not caring, do a lot of unnecessary micro-managing, turn on you when they feel like it. They are not organized, always short-staffed, not willing to hire more people when needed. Their "help desk" is not helpful, processing requests to people you cannot contact and follow up with. The pay is decent if asked for it at the time of hiring. They hardly ever give raises and their goals are nearly impossible to reach. They will work you until you cannot take it anymore. There is so much stress in this company that you will start talking those problems home/personal life.

    I read bad reviews when I got my interviews for BMO but I still gave it a try.. Big mistake.. NOT worth it, not worth it at all!!! Please take the time to educate yourself about this company before you make the commitment to work for them. Go to their branches and look at how their employees and how unhappy and stressed they are. They will offer products down people's throats to be able to make their numbers and not be yelled at by management and being forced to do outbound calls to make more sales, sales, sales.

    Management ALWAYS has something to point out that your doing wrong and no matter how hard you work, it will NEVER be good enough. I worked for the company for about three years and they were very ungrateful to everything I had contributed to the company. I was never given a significant raise and when I asked for it, I was decided multiple times.

    The list goes on........ RUN AWAY FROM THIS HORRIBLE FINANCIAL INSTITUTION!!!

    Advice to Management

    Stop focusing in sales and offer the customer service your customer's deserve, not only the wealthy ones but all of them. Stop pushing sell's down people's throat's. Stop micro-managing and burning out your employees, apprecite them. Start to truly believe in your core values, be happier, allow employees to have a normal and fair life outside of work.

  8. Helpful (6)

    "I am a Senior Premier Banker. They promise the world and deliver abuse."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Premier Banker in Milwaukee, WI
    Current Employee - Senior Premier Banker in Milwaukee, WI
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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

    Pros

    I do not see one pro in working for the BMO organization.

    Cons

    Micro manage, nothing is ever good enough from any Banker throughout the entire organization. They lead with fear based tactics.

    Advice to Management

    Look at your management style. I do not know one satisfied employee regardless of what the surveys say. They are only anonymous within your group and when u have a group of 10 to 12 the fear based tactics work.


  9. Helpful (6)

    "Stay AWAY!"

    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
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at BMO Financial Group (More than a year)

    Pros

    A handful of colleagues actually knew what they were doing and were very helpful. The IT group was great, as were the Telecom team.

    Cons

    Team "lead" was a a total bully. Never a word of encouragement, nor a word of praise for a job well done. Perceived "mistakes" were pointed out constantly. The "manager" didn't have the skills to motivate the communications group. It was the "management by fear" style. This was the absolute worst experience in a workplace I've encountered in my 20+ years as a professional.

    Advice to Management

    Pay close attention when hiring and promoting individuals who are in the position to manage others. So happy to have moved on to a company who respects their employees.


  10. Helpful (2)

    "BMO Harris"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Bank Manager in Orlando, FL
    Current Employee - Bank Manager in Orlando, FL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Fair salary and comparable benefits

    Cons

    BMO is unable or unwilling to compete in markets beyond the greater Chicago/Milwaukee area and their home base in Canada. Their products, pricing, services and technology is below average at best.

    Advice to Management

    Compete in all markets or pull out.


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