CIBC Reviews in Toronto, ON | Glassdoor

CIBC Toronto Reviews

Updated September 10, 2017
53 reviews

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Toronto, ON, Canada Area (Canada)

1.0
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CIBC President & CEO Victor Dodig
Victor Dodig
15 Ratings

53 Employee Reviews

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Pros
Cons
  • work life balance is compromised due to many projects on limited budget (in 54 reviews)

  • Too much pressure on you to achieve sales targets (in 53 reviews)

More Pros and Cons

  1. "Manpower Contract Employees"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Transaction Processing Officer in Markham, ON (Canada)
    Former Employee - Transaction Processing Officer in Markham, ON (Canada)
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    Pros

    Environment is not too bad , but can be much better !

    Cons

    Nothing as benefits provided if you are a manpower associate

    Advice to Management

    They have to become more employee focused first before focusing on the client experience, since the employees only deliver the real client experience !


  2. "Senior Financial Service Representative"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Markham, ON (Canada)
    Current Employee - Anonymous Employee in Markham, ON (Canada)
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at CIBC full-time (More than 3 years)

    Pros

    Not much to say that is good

    Cons

    Very unethical. Management forces employees to sell certain mutual funds because of higher fees made. Management urges employees to stay away from saving accounts and gics because its generate less revenue for the bank. This is not right

    Advice to Management

    Start being ethical and do what is right for the client. Do not just say it, do it.

  3. "Horrible workplace"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Investigator in Midtown Toronto, ON (Canada)
    Former Employee - Investigator in Midtown Toronto, ON (Canada)
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at CIBC full-time (More than 10 years)

    Pros

    -Fulltime employees are entitled to benefits

    Cons

    -Poor compensation in relation to workplace expectations which almost always increases
    -Expectations increase year over year setting you up for failure as what was once an exceptional performance becomes the new minimum necessity
    -Rampantly filled with absolutely horrendous management. Its amazing I worked in their Toronto head office for over a decade in various roles and departments, consistently reporting to bottom of the barrel awful managers who've seem to all to commonly slither their way into management roles due to their chain smoking habits and the people they end up meeting from it.
    -Nepotism and favouritism is commonplace here. I've routinely witnessed favoured employees receiving less difficult workloads or assigned simpler special projects and tasks while your stuck bearing the weight of a more complex and difficult workload.
    -A very reactive organization, little planning and preparation creates an unpleasant and unsettling work environment always racing to try to keep things steady and it usually rarely is.
    -Unless your applying to a highly specialized role requiring a very specific educational background , post secondary education or having a university degree matters very little in this organization, as most of the management do not have any formal post secondary education at all and thus place little value in it, choosing to instead to hire who they know or like.
    -Getting promoted is difficult as management 9 out of 10 times will hire who they like not who is the most qualified.
    -An over milking and simply lame corporate pie-the-face rah-rah culture, which most employees can hardly stomach.
    -Volatile work environment. A constant high rate of employee turn over is easily a red flag and a bad sign of an organization that is not a good place to be employed with, people are constantly trying to figure out a way to leave their intolerable and unpleasant jobs. Yes its truly that ugly...
    -I'm sure there's a lot more cons but you get the picture.

    Advice to Management

    None to management. My advice to job seekers is to stay away from this organization - you'll thank me for it.


  4. "Digital is great if you're willing to put up with the BS"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Director in Toronto, ON (Canada)
    Former Employee - Director in Toronto, ON (Canada)
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I worked at CIBC full-time (More than 8 years)

    Pros

    Exposure, relatively less red tape compared to other Banks, a degree of ownership depending on role. In general, the people you work with regularly are great.

    Cons

    Awful leadership (no vision, little support). Pay is better at other Banks. Hard work isn't always recognized. Digital has become increasingly competitive internally, making trust a huge issue.

    Advice to Management

    Hire leaders, not sole contributors managing a team. Provide a clear vision and let the people you've hired execute it.


  5. "FSR"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial S in Toronto, ON (Canada)
    Former Employee - Financial S in Toronto, ON (Canada)
    Doesn't Recommend
    Disapproves of CEO

    I worked at CIBC full-time (More than 8 years)

    Pros

    very multicultural and accepting, flexible good pay

    Cons

    it was always sales and targets rather then helping out clients

    Advice to Management

    more focus on what can be done to help the customer rather them making think the back while they profit from consumer lost!


  6. Helpful (1)

    "Poor management and toxic work enviornment"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Manager in Toronto, ON (Canada)
    Current Employee - Senior Manager in Toronto, ON (Canada)
    Negative Outlook
    Disapproves of CEO

    I have been working at CIBC full-time (More than a year)

    Pros

    A small number of staff are great co-workers.

    Cons

    Generally, people are too busy with "CYA" and engaging in politics. A lack of accountability and responsibility means tech can't deliver on any projects - leading to scheduling overruns and excessive additional costs. Although some managers may have the best of intentions, they have absolutely no power to do anything to improve the situation. In addition, the bank prides itself on paying bottom of market.

    Advice to Management

    Improve work environments and ensure that 'partners' are actually engaged and understand their roles and responsibilities. Hold people accountable for their actions. Actually hire good, motivated people and pay them a respectable wage, and do this across the board.


  7. Helpful (1)

    "Financial Advisor"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Toronto, ON (Canada)
    Current Employee - Financial Advisor in Toronto, ON (Canada)
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at CIBC full-time (More than 5 years)

    Pros

    People are great to work with as always

    Cons

    unrealistic target twists good people

    Advice to Management

    be realistic

  8. Helpful (1)

    "Compensation is not comparable to Other Banks"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Financial Services Representative in Toronto, ON (Canada)
    Current Employee - Senior Financial Services Representative in Toronto, ON (Canada)
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I have been working at CIBC full-time (More than 3 years)

    Pros

    -Meet great clients
    - Tuition Assistance for career development

    Cons

    Management attempts to keep people in their current position for a long time, even if they are performing and prepared for development. The compensation is not comparable to other banks and credit unions. Expect to work overtime on a consistent basis, go above and beyond your job responsibilities without proper recognition or compensation. Management is very vested in their own interests. No real structure for compensation, difficult to measure performance and justify pay increases. Bonuses are low and only paid once per year. They attempt to justify compensation by encouraging employees to remember the "total compensation" which is really just $10 off coupons available through workperks and benefits similar to (or worse than) any other company. They attempt to push the idea that everything is "for the client" but sales targets prove otherwise and employees are encouraged to sell more and more products every year, that clients don't necessarily need. Employees are disciplined for not meeting weekly and annual targets.

    Advice to Management

    Promote your staff and pay them for the work you expect.


  9. Helpful (1)

    "Horrible Work Experience in the Branch"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Services Representative in Scarborough, ON (Canada)
    Former Employee - Financial Services Representative in Scarborough, ON (Canada)
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at CIBC full-time (Less than a year)

    Pros

    If you're a person with no morals, no conscience and no shame, you'd fit right in with the culture!

    Cons

    I worked at a branch - there were always power/system shutdowns, only 2-3 tellers as they want to cut down cost and have customers use iPads to do banking, Financial Services Representatives badmouth and gossip about customers, customers' info aren't kept in confidentiality, technology is obsolete at CIBC!

    Advice to Management

    The Virtual Wave for the FSR Intake Program is a horrible excuse for training, no one actually learnt anything. The work experience all depends on the branch you are placed, and the location has everything to do with it


  10. "Don't work for RBSS"

    StarStarStarStarStar
    • Work/Life Balance
    • Senior Management
    Current Contractor - Anonymous Contractor in Toronto, ON (Canada)
    Current Contractor - Anonymous Contractor in Toronto, ON (Canada)
    Doesn't Recommend
    Neutral Outlook

    I have been working at CIBC as a contractor (More than a year)

    Pros

    Great flexibility to work from home, interesting projects to work on, and I have been able to work with a great team.

    Cons

    A lot of lazy tenured staff who have no interest in being productive, senior management couldn't care less about contract employees.

    Advice to Management

    Management needs to get their act together with how they deal with/manage both FT employees and contract employees.


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