CIBC - Terrible | Glassdoor
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Helpful (5)

"Terrible"

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

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

Pros

If you are new to financial services, you will learn a ton of information regarding day-to-day banking, unsecured lending, secured lending, fixed-term investments, etc. Being someone who had very controlled finances throughout post-secondary, I was very unfamiliar with a lot of banking products so the information I absorbed was immense and beneficial both to my role and to myself.

The pay is also pretty good (starts at 39k with the ability to make a few thousand extra by the end of the year). Do not mistake it though, you are worked for every dollar you earn so don't think your work value has increased through this increase in pay.

Cons

The work environment is simply terrible. The managers are tyrannical and constantly micromanage employees. Positive reinforcement and constructive criticism is dismal at best, even when you are attaining your targets. The management will look for any excuse possible to maximize your output and cut into your wallet. This includes reprimanding your quarterly bonus due to a couple of lates no more than 5-10 minutes each. If you enjoy working for an organization that resembles the SS, look no further.

The call centre is constantly understaffed and poorly scheduled which means period of having one or two minutes in between calls to periods in which there are up to 70 calls waiting for your queue.

The management was overtly incompetent. The majority were not qualified for managerial roles (I doubt some even had a high school diploma let alone any sort of formal managerial education) and those that were, were often overlooked due to office politics. Affirmative action is rampant in CIBC's North York call centre, and I do not mean this in a good way. What it means is that a lot of people are hired unfortunately based on the colour of their skin rather than the content of their character and their qualifications for the role which ends up with CIBC becoming a victim of incompetent management. One manager at the North York call centre is even brave enough to show up to work daily with slurred speech and bloodshot eyes. I was subject to some forms of racial and ethnic discrimination in the work environment but due to the fact that I am a male of European origin, any sort of complaint against this was mocked by the management and human resources.

Advice to Management

Quit your jobs. You are ruining the company and you are a large part of the reason why CIBC is the weakest of the large five Canadian banks. Learn to treat your employees as people and not as machines on an assembly line. It is bad enough being chained to your desk for 8 hours a day, a little human treatment would go a long way in improving employee performance and satisfaction.

Other Employee Reviews for CIBC

  1. "CIBC has provided me enough opportunities to grow and apply my skills. The company culture is great as well."

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

    Pros

    The company culture is great

    Cons

    The compensation is not as high as competitors


  2. "Customer Service Presentative"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Customer Service Representative in Victoria, BC (Canada)
    Current Employee - Customer Service Representative in Victoria, BC (Canada)
    Recommends
    Positive Outlook
    No opinion of CEO

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

    Pros

    Friendly and supportive management team, comfortable workplace and extensive in-house training

    Cons

    Sometimes the sales target are set to make the employee tend to aggressively promote the financial service, for example, life insurance, to the clients who dont really need it at all.

    Advice to Management

    no

There are newer employer reviews for CIBC
There are newer employer reviews for CIBC

See Most Recent

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