CIBC
3.8 out of 5 stars.
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CIBC Consultant yearly salaries in Canada

Job Title
Location
19% Above national average
Salary estimated from 3 employees, users, and past and present job advertisements on Indeed in the past 36 months.

Job openings matching Consultant in CIBC

  1. Toronto, ON
    You’ll lead Remote Banking Shared Services Intakes to assess system impacts and participate in strategic solutioning with designer and architecture to come up…
    8 days ago
  2. Toronto, ON
    As an Information Security Consultant, you’ll assess projects for security risks and present recommendations that allow the business to make informed decisions.
    13 hours ago
  3. Toronto, ON
    You will provide application or infrastructure technical expertise as needed for projects and initiatives related to the implementations.
    2 days ago
  4. Toronto, ON
    You’ll participate in complex projects to design strategic solutions aligned to CIBC’s enterprise architecture roadmap.
    1 day ago
See all jobs matching Consultant in CIBC
Reviews about Pay & benefits for Consultant at CIBC
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Salary/Benefits
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Management
Job culture
Good employees but questionable corporate direction
During my time at CIBC, it started out as a very aggressive financial institution and put a lot of emphasis on capital markets for making profits. After a getting themselves involved in a few scandals in the early 2000’s (paid the fines but did not admit to any wrongdoing), CIBC became very risk-averse. They scaled back on capital markets and put more emphasis on retail banking. it was at this time they dropped from #2 spot to #5 bank in Canada. From an employee perspective, you will see this risk-adverse culture still very evident today. There are lots of processes to follow so you can expects lots of forms to fill out before you can actually do the work. Following processes is important but efficiency is being affected - CIBC clients who also use other financial institutions will notice transactions take longer to complete at CIBC. I don’t believe management has a plan for CIBC to catch-up with their competitors. Apart from the risk-averse culture, I found the employees work collaboratively with each other. They want CIBC to succeed but many of them doubt if they can keep up with their competitors who have a clearer corporate direction and executing their plans. At CIBC, I see employees often working on niche products that don’t stay around for very long. It can be deflating to work on a project for months, only to see it decommissioned afterwards. CIBC takes a lot of pride in their online banking platform that is considered industry-leading but their brokerage platform is very outdated - so which area in CIBC you work makes a difference. CIBC does offer a competitive - more...
Pros
Collaborative
Cons
Risk-averse, Inefficiency
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Systemic issues with employee performance rating and talent management
CIBC has poor leadership; they have limited understanding of the needs of their staff and it is not a priority to rectify the deficiency. This makes it difficult to help your employees become self-actualized. A large percentage of the leadership simply lack the EQ to perform this task or even understand it. There are some decent leaders, but not all employees may experience this, as the middling performers tend to be ignored rather than encouraged to improve. The bank prefers fealty (sycophants) over performance. You could work 60 hours a week or 30 hours a week and get the same rating, as employee performance measurement is more about ticking the box, than evaluating the employee or helping them grow. Similarly, the yearly leadership rating system, ESAT is not effective. If you are one of the chosen you could have multiple poor ESAT scores and live to underperform another year. Conversely if you are a good leader, but someone dislikes you, you are likely to be shunned. There is also no screening of new people managers, training courses can only help so much, when you do not offer the compensation to attract good talent. Do not expect HR to help the employee, they are there to do management’s bidding and bury it deep. The quality of the staff is quite disparate, those who have decent skills may get promoted, but it is more likely that they will be under appreciated and leave. This is largely a function of the leadership issues outlined above, but the performance rating also plays a role in this problem. The under performers are paid the same or more as the hard-working talent. - more...
Pros
Working from home
Cons
Poor management
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They ask for unpaid Over time all the time
Everyone asks you to do unpaid OT and if you refuse, they will fire you. A lot of TFW are being imported from India on visa and they are being forced to do unpaid OT.
Pros
None
Cons
Unpaid OT
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How much does a Consultant make at CIBC in Canada?

Average CIBC Consultant yearly pay in Canada is approximately $79,119, which is 19% above the national average.
Salary information comes from 3 data points collected directly from employees, users, and past and present job advertisements on Indeed in the past 36 months.
Please note that all salary figures are approximations based upon third party submissions to Indeed. These figures are given to the Indeed users for the purpose of generalized comparison only. Minimum wage may differ by jurisdiction and you should consult the employer for actual salary figures.