Vantaggi
Friendly colleagues, close proximity to grand central
Svantaggi
Compensation is far below market and benefits are worse than other banks with operations in the US (poor 401k match, expensive insurance, etc..). Base salary is unchanged from 10 years ago and there are no annual increases, even for the top achievers. Bonuses increase, but are still 15 - 20% below market. Work life balance has decreased as the bank tries to grow in the US without hiring additional people, but refuses to compensate anyone for the increase in workload and deal flow. Management refuses to listen to anyone's advice and chooses to keep their heads in the echo chamber that consists of out of touch, old-school Canadian executives. Supposedly CIBC's goal is to grow in the US; however, poor acquisitions and complete neglect for their capital markets business will make that pretty difficult.