Sumitomo Mitsui Financial Group Reviews | Glassdoor

Sumitomo Mitsui Financial Group Reviews

Updated November 24, 2017
202 reviews

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3.2
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Sumitomo Mitsui Financial Group President & CEO Takeshi Kunibe
Takeshi Kunibe
29 Ratings

202 Employee Reviews

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  1. Helpful (8)

    "HR"

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

    I have been working at Sumitomo Mitsui Financial Group (Less than a year)

    Pros

    NO pros did not like anything

    Cons

    bad environment not pleasant people


  2. Helpful (10)

    "Never again."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Associate in New York, NY
    Current Employee - Associate in New York, NY
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    - You get paid
    - People are generally nice
    - Weekends generally free; 8:30 - 6:30 work hours on most days

    Cons

    - Inefficient and bureaucratic: a lot of deliberation / discussion over minutiae
    - Inadequate and outdated software and technology; proprietary software is useless
    - Distrust of external sources (e.g., JP Morgan, Credit Suisse, etc.)
    - Condescending, arrogant and dismissive management
    - Minimal investment in employee / career development
    - Unnecessarily long processes (50+ page redundant applications)
    - Just because it takes more time to finish a process, it doesn't make it better. Learn efficiency.

    Advice to Management

    You may want to invest in your proprietary technology and employees. That means training your employees, knowing in what capacity you want to use each employee, and actually caring about your employees' development.

  3. Helpful (8)

    "Terrible...hostile work environment due to very poor management!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Comp & Benefits
    Former Employee - Senior Accountant in Warren, NJ
    Former Employee - Senior Accountant in Warren, NJ
    Doesn't Recommend
    Approves of CEO

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

    Pros

    The majority of the employees here were very pleasant to work with, especially the Japanese who were very respectful.

    Cons

    My department was a joke! Very unprofessional and very poorly managed. There was a senior tax accountant who was extremely unhappy and hostile. This was permitted.

    Advice to Management

    Get a backbone! And realize that the confidentiality you boast about doesn't exist, especially in the legal department and the president's office. I believed that the HR department was professional and really cared but I found out that they go with the status quo regardless of what they claim.


  4. Helpful (8)

    "Archaic Japanese company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Assistant in New York, NY
    Current Employee - Assistant in New York, NY
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    Makes you appreciate every job you thought hated
    Very retro work environment, think Madmen where women with BA and MBA with good titles are regulated to low level positions and doing things like pouring tea during meetings despite experience.
    Work life balance - very good if you ignore your manager's warnings about working late when there isnt much work to be done, or coming in 5 minutes late due to a sick passenger on the train.
    Manager changes every week, so the manager you hate will most likely not be there soon because they get sent back to Japan.

    Cons

    Culture
    Compensation - will lowball you and sell you the lack of layoffs
    Technology - they use a access db as their CRM, Lotus notes, Windows XP, IE 6, cloud services is foreign here
    PTO - very low by modern standards
    Sick days - you get dinged on performance review for using it

    Advice to Management

    Hire a management consultant from a company like Goldman, Moodys, BarclaysReuters, etc, shake things up, focus on employees.


  5. Helpful (12)

    "Terrible company to work for"

    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
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Difficult to think of any pros. The companys location in Midtown East is convenient. Thats about it.

    Cons

    The salaries at all levels of the company are below market for the industry.

    The atmosphere around the office is not pleasant. The culture is toxic, and there is a fear that is perpetuated by the Expat community.

    Expats are promoted before American staff.

    Managers do not care about work/life balance.

    There is a glass ceiling for women.

    The Expats look down on American staff.

    The benefits of being an employee are basically limited to health care.
      -There is no such thing as employee day, when employees are treated.
      -The Christmas party costs $50 to attend, $50+ to bring a guest.
      -No stipends for cabs or dinner if you are asked to work late.
      -There are occasionally team dinners and parties, but they generally cost each employee $40-$60, and you are expected to attend.
      -No office cafeteria.
      -Hours are just as long as peers in American banks, if not longer, but pay is much less.
      -HR is not supportive, and does not make employees feel like they are operate on the employees behalf.
      -The pantries are a disgrace. There is literally only green tea and coffee- no milk.


  6. Helpful (10)

    "Horrible company to work for"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Analyst in New York, NY
    Current Employee - Analyst in New York, NY
    Doesn't Recommend
    Neutral Outlook

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

    Pros

    It looks "decent" on the resume

    Cons

    So antiquated. They dont care about their employees. HR told me I needed to buy my own calculator for work. We pay for our own christmas party...this is all when the bank is doing well. The Japanese expats look down on everyone. Promotion hardly ever happens. Their pay on All levels is way below the labor market for the industry.


  7. Helpful (8)

    "Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Analyst I in New York, NY
    Current Employee - Analyst I in New York, NY
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    Low chance of being fired. Great company to work for during a recession...they never missed a paycheck. Laid people off because it was an opportunity not due to need.

    Cons

    Glass ceiling for women. More concerned about form over substance. Kissing up is the best way to get ahead. Management's attitude is often dismissive and arrogant. Annual pay raises are horrible. SMBC under pays for industry. Pecking order: Japanese , White, Spanish , Black.

    Advice to Management

    Provide opprtunity for career growth and your turn over rate would diminish.

  8. Helpful (8)

    "Whatever you do, don't step your foot in."

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

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

    Pros

    Close to grand central so easy to commute, otherwise nada.

    Cons

    Everything. This is a Japanese bank ran by Japanese people from Japan. They have absolutely no respect for local hires. No career advancement. Worse if you are a woman. Pay sucks. People are there because they have no other choice. They don't value competency. Face time is the only thing they value.

    Advice to Management

    They have to acknowledge that they are in the U.S., not Japan.


  9. Helpful (8)

    "Depressing and uninteresting place"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Assistant Treasur in New York, NY
    Current Employee - Assistant Treasur in New York, NY
    Doesn't Recommend
    No opinion of CEO

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

    Pros

    9-5 job
    Very good health insurance (115$ per month for a complete coverage (health/dental/vision) for a family regardless of number of kids, no deductables)

    Cons

    Very japanese culture, your bosses never talks to you (will pass you by as if you don't exist), some of them barely speak English
    Department is not friendly
    Its dead quiet in the office
    Paintry is the worst I ve ever seen, plenty of green tea, but no milk. Coffee had to be placed at mail room as people were stealing it
    Absense of any training
    No coaching, mentoring
    No communication of expectations
    Very inefficient processes, outdated technology (both software and hardware)
    Absense of Communication from Top to Bottom
    Although hours are great (9-5), at 9:01 management goes around to check if you are at your place. Work from home is non-existent term, taking half day to take care of your personal affairs is judged. Sick days... well you have to be diying. If not, why arent you at your desk.

    Advice to Management

    If you come to other countries, learn to adjust to that environment, leave your japanese culture in Japan


  10. Helpful (6)

    "Office is crowded"

    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

    I worked at Sumitomo Mitsui Financial Group full-time

    Pros

    It is a very convenient location for commuting

    Cons

    Working Area is open space like Japanese company style.
    Narrow desk with no partition, with small drawer
    No Privacy.
    Toilet and cafeteria is very dirty.
    Dirty big trash bin is overflowing with garbage.
    No career pass for the local staff
    Many Asian , In particular, there are many Chinese
    American officers of expatriates’ “Yes” men.

    Advice to Management

    It must have sufficient consideration to the office of the health and environment for the sake of health and mental stress of employees.


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