CIBC Pay & Benefits reviews

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3.0
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Financial Services Representative
Senior Financial Services Representative (Current Employee) –  Toronto, ON17 September 2018
I would say I've learnt a lot working for CIBC and I've worked with some fantastic people but the overall experience for working for this bank would be something I would want to progress from. The retail management and sales culture is not encouraging and I feel like the amount of work that is put in for this position really does not justify the salary that is paid. I've come from previous positions in management and I can't imagine becoming a manager with this bank.
Pros
Colleagues & clients
Cons
Too many things to do, mentally exhausting, too fouces on sales
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5.0
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Consistent banking work environment....
IT Project Manager (Current Employee) –  Toronto, ON22 October 2018
CIBC is on par with other financial institutions, in terms of work, culture and compensation. Being on the IT side of the company afforded a more lax work environment than the traditional banking departments. It is a great place to grow your career.
Pros
Lots of internal job postings, employee stock plan, good benefits, decent compensation, good HQ location, bonus
Cons
Monotonous work, downfalls of big corporate structure/company
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1.0
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A bank that ranked last among the big 5 - for good reasons
Manager (Former Employee) –  Mississauga, ON18 November 2018
- Outdated internal technology and procedures, probably at least 10-15 years behind other major banks/organizations

- Not taking ownership of issues and pointing fingers is the norm

- Put most resources into client facing items and not invest in the employee experience

- Most, if not all, training courses are online, which is ineffective

- Bad on-boarding and training programs

- Outdated work environment - take a look at how old some of their branches are

- Size small compared to other major banks, hence extremely limited opportunity for career advancement

- Spend most of the day doing paper work because of outdated, manual procedures and policies, hence no time to focus of value added activities

- Bad procedures resulted in numerous customer complaints

- Lower pay for the same position compared to other major banks
Pros
Retirement benefits
Cons
Many
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4.0
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Career potential
Financial Services Representative (Current Employee) –  Prince George, BC8 September 2018
Great culture, benefits, and team orientation. High paced sales environment though, and only the strong will survive. Weekly targets are high and strict, and coupled the admin duties it will be stresstul to hit them. The wage is low, but you are working for a career, not a high salary at lower levels. The work required to advance will leave you stressed and tired.
Pros
Benefits, culture, hours
Cons
High sales targets, lots of asks
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4.0
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desk job
Fraud Loss Prevention Analyst (Former Employee) –  Toronto, ON23 September 2018
during my days at CIBC i remember that the management was helpful and supportive. We had training for any programs that were rolled out. The downside to this job was the rotating shifts and the long hours on the phone with disgruntled customers, because they couldn't use their card or that there was charges on their account.
Pros
decent benefits and pension
Cons
rotating shifts and long hours on the phone.
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5.0
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Excellent Environment
Legal Executive Assistant (Former Employee) –  Toronto, ON2 January 2019
Management was very professional and knowledgeable. Advancement was always encouraged. Salary was very fair. Encouraged a healthy job work/life balance environment.
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5.0
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Work is fun and dynamic
Financial Services Representative (Former Employee) –  Montréal, QC10 September 2018
Working for CIBC has been a real pleasure. The work I did was dynamic, and I learned a great deal about retail banking, all retail credit products including mortgages, I learned retail banking industry laws and regulations.

The work place culture was great, we had competitions, challenges, food, drinks, and end-of-year dinner, and fun activities outside of work.

The hardest part I would say would be working in a fast paced environment, although you get used to that quite quickly.

The fun part in my day-to-day would be my colleagues, they were young, interesting, helpful, candid, and from all backgrounds.
Pros
Benefits, work environment, fun activities
Cons
Weekend Shifts
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4.0
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Good work environment
QA Analyst (Former Employee) –  Toronto, ON29 October 2018
Great staff and helpful
CIBC is on par with other financial institutions, in terms of work, culture and compensation. Being on the IT side of the company afforded a more lax work environment than the traditional banking departments. It is a great place to grow your career.
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4.0
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A Decent place to work
Senior Assistant Branch Manager (Former Employee) –  Toronto, ON7 November 2018
I had a long career at the bank, working in several branches and roles. I'd say it's a decent place to work, good benefits, banking package and culture.
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4.0
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Productive and results oriented
FACILITIES COORDINATOR (Former Employee) –  Toronto, ON1 October 2018
Great workplace that treats its' staff well. Results oriented with good management and great benefits. People oriented with a great leaning program online.
Pros
Health Benefits
Cons
Long hours
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4.0
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Quality Place To Work
Business System Consultant (Former Employee) –  Toronto, ON11 December 2018
Management who cares - lots of opportunity to move around and heavy focus on digitalR
One of the best technology focused banks in the world right now
Good salary, good bonus and benefits
Pros
Salary/Benefits
Cons
Moving Up
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3.0
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I worked for Cibc for four years
Assistant Branch Manager (Former Employee) –  High River, AB23 April 2018
I would give caution to anyone thinking of working in the banking industry as I was part of the management team you are paid salary and not paid any extra for staying late and helping others balance there tills or anything that upper management requires of you. many people working in the banking industry are stuck feeling unhappy and unfulfilled. As far as the pay goes it was decent but not at all worth the stress. the most enjoyable part of the job was my ability to move forward within the company. this is a face paced industry if you cannot keep up you will be left behind. working for Cibc has taught me many things and helped me move on and change my career completely, I would never go back and change anything.
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3.0
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Decent place to work
Mortgage processing officer (Former Employee) –  Scarborough, ON15 August 2018
People were pretty friendly but I felt it was a bit difficult to advance there. I was nice that there were different cultures and background of people so it made it interesting. Work hours and life were pretty flexible at first but they eventually got stricter and was not lenient after my last year there at CIBC. If you like banking and sitting at a desk all day it is a decent place to work otherwise I don't really recommend this place to everyone.
Pros
pretty good benefits
Cons
People you work with can be miserable
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4.0
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CIBC Culture
Senior Financial Advisor (Current Employee) –  Toronto, ON28 December 2018
Culture is changing over the last 2 years or so. Many people are leaving CIBC because the opportunities are better outside of CIBC. They have made many changes to the compensation. There is to much competing responsibilities that they ask of you that is not realistic unless you want to sacrifice quality.
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3.0
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sales
COMMERCIAL ACCOUNT MANAGER (Former Employee) –  Montreal, Qc, Canada15 August 2018
this is a sales position - financial advising in a bank. Sales targets are unrealistic and management expects very long hours from employees. Benefits are great and salary is good.
Pros
benefits
Cons
sales targets too high
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4.0
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Good work experience
Financial Service Associate (Former Employee) –  Toronto, ON28 December 2018
Learned a lot about retail banking and some investment banking. The people are quite friendly and I was lucky to meet some great people that made it a great place to work. Some managers were great, others not as much.
Pros
Good culture overall
Cons
Compensation not competitive
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3.0
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Advancement opportunity
Call Center Specialist (Former Employee) –  Vancouver, BC10 September 2018
CIBC has been moved to Toronto. Salary is too low. Management was not helpful to find job for employee .It's unionized but benefit is good.I tried to apply at the branch but the management was not very helpful to assist employee in finding job across CIBC
Pros
Gym
Cons
No assistance in finding a job when company moved to toronto
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4.0
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Great company to work for
Financial Services Representative (Former Employee) –  Toronto, ON22 May 2018
Good benefits
Clear routine reviews of goals and what is required to achieve them
Decent pay with the ability to make more on commission
Managers are great and work hard to make you succeed
Terrible work life balance when your seniority is low
Pros
Benefits, pay, great management, career growth opportunities
Cons
Hours
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2.0
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It was okay, but I would god refer someone
Financial Service Representative (Current Employee) –  Newmarket, ON12 April 2018
To be honest great company to work for as the pay is modest(not competitive) depending on your role and the benefits are decent (only 80% max). Working at a branch as an FSR the job and responsibility are definitely not worth the pay.

You could end up opening the branch, accounting for tellers, prep for 5-7 meetings a day, find your own leads, schedule your own appointments, close the deals and complete hundreds of documents in between. It’s a lot of work load to manage especially when the software applications are a mess. Commission pay is low.

Unfortunately most managers have little macro/micro economic understandings or sales experience. Almost branched are understaffed.

Training needs to occur off site. The virtual training program doesn’t enforce hands on learning, nor hold management accountable for a new hires progress. It’s a poorly designed practice. Needs restructuring.

Depending as where your branch is located it can either technological suck or it’s awesome. The more north you go the less budget the copy puts forward to resign it. Sadly.
Pros
Learning, benefits, job security
Cons
Understaffed, low pay, work load
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5.0
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Great Place to work here
Processing Clerk (Current Employee) –  Calgary, AB23 November 2018
I love my part-time job. The culture here is very friendly and cooperative, I would like to work as a full time employee & learn even more about banking
Pros
Free Coffee, Friendly colleagues & management
Cons
Less hours, low pay
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Overall rating

3.9
Based on 2,386 reviews
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3.8Work/Life Balance
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