Sumitomo Mitsui Financial Group Reviews | Glassdoor

Sumitomo Mitsui Financial Group Reviews

Updated May 21, 2017
12 reviews

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Sumitomo Mitsui Financial Group President Koichi Miyata
Koichi Miyata
6 Ratings

12 Employee Reviews

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  1. "IT Support Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - IT Support Analyst in Jersey City, NJ
    Current Employee - IT Support Analyst in Jersey City, NJ
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Sumitomo Mitsui Financial Group full-time

    Pros

    No Pros At All Whatsoever

    Cons

    So many, it's unreal... environment is dog eat dog, no mercy.

    Advice to Management

    Get some pro-help or visit a seminar to learn about being human.


  2. Helpful (1)

    "worst company work for"

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

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

    Pros

    Near the Grand Central Station

    Cons

    A candidate have to wait for 6 month for become a full time employee. Other Japanese banks are 3 month.

    Low salary than average

    the Japanese expiates look down the local staff like the second class; specially for women. They brought old Japanese culture!
    This company was filed suits in sexual harassment in the past, but was settled out of court,

    Advice to Management

    Japanese expatriates should be study English conversation.
    The local women is not an outlet of expatriate:s stress!

  3. Helpful (1)

    "Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    stable employer, but a lot of "dead wood" making decisions

    Cons

    bad management and cliquishness of employees will make your work miserable.

    Advice to Management

    change in management will be beneficial, especially managers with personal relations


  4. Helpful (3)

    "High hopes, fell short"

    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 full-time

    Pros

    Nothing really....there is a 5 word minimum so I guess the coffee is OK.

    Cons

    Long hours, antiquated heirarchy system and low pay are a few things that top of the long list of cons.

    Advice to Management

    Restructure....unhappy employees cannot be satiated by new coffe machines.


  5. 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


  6. 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.


  7. 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.

  8. 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.


  9. 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.


  10. Helpful (1)

    "Terrible place to work"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Human Resources Business Partner in Sydney (Australia)
    Former Employee - Senior Human Resources Business Partner in Sydney (Australia)
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Good remuneration and generally good work life balance. Good office location. Offers salary contunuance insurance as an employee benefit to permanent staff.

    Cons

    Micro management
    Manual processes
    Lacks innovation and efficiency
    Culture instils fear of making mistakes
    Lack of career development
    Risk adverse
    Compliance and audit overload
    Poor technology
    Poor management who lack ethical character


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