Sumitomo Mitsui
2.1 of 5 14 reviews
www.smfg.co.jp Tokyo, Japan 5000+ Employees

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2.1 14 reviews

                             

33% Approve of the CEO

Sumitomo Mitsui President Koichi Miyata

Koichi Miyata

(3 ratings)

10% of employees recommend this company to a friend
14 Employee Reviews
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1 person found this helpful  

Risk analyst SMBC

Risk Analyst (Former Employee)
London, England

I worked at Sumitomo Mitsui

ProsSmall firm that will allow you to take on alot of responsibilities and tasks. Good chance to learn given the small structure

ConsJapanese promotion structure encourages experience at the firm over genuine potential so can be slow but sure promotion and advanced in career

Advice to Senior ManagementEncourage the junior staff to work towards potential success and promotion. More team building away days etc to get a good team culture.

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Terrible company to work for

Anonymous Employee (Former Employee)
New York, NY (US)

I worked at Sumitomo Mitsui full-time for more than 3 years

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

ConsThe 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.

No, I would not recommend this company to a friend

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Archaic Japanese company

Assistant (Current Employee)
New York, NY (US)

I have been working at Sumitomo Mitsui full-time for more than 3 years

ProsMakes 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.

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

No, I would not recommend this company to a friend

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

Senior Accountant (Former Employee)
Warren, NJ (US)

I worked at Sumitomo Mitsui full-time for more than 3 years

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

ConsMy 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 Senior ManagementGet 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.

No, I would not recommend this company to a friend

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Never again.

Associate (Current Employee)
New York, NY (US)

I have been working at Sumitomo Mitsui full-time for 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 Senior ManagementYou 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.

No, I would not recommend this company to a friend

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Fair Bonuses. Awesome work life balance.

Anonymous Employee (Former Employee)
Singapore (Singapore)

I worked at Sumitomo Mitsui full-time for more than a year

ProsPlenty travelling to Japan, Fair Bonuses. Awesome work life balance. I could work there for a long time.

ConsJapanese Culture overall. Mood Killer... Its awfully quiet in the office and not much minglling amongst the Japanese and Chinese

Advice to Senior ManagementLighten up a little.

Yes, I would recommend this company to a friend

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oldschool japanese bank

Officer (Former Employee)
Toronto, ON (Canada)

I worked at Sumitomo Mitsui full-time for more than a year

Prosstable, good life-work balance, ok pay

Consno career, no motivation, inefficient approval process, zero risk appetite

Advice to Senior Managementhaving offices around the world doesn't mean "global".

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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Ok to park but always look to move on

VP (Former Employee)
New York, NY (US)

I worked at Sumitomo Mitsui

ProsNice office location in midtown Manhattan. Bonuses are good depending on the year the organization has had as a whole. Great health benefits.

ConsBonuses are performance driven; meaning if the company as a whole is not doing well, your bonus will reflect that. It is a Japanese company that is bureaucratic and filled with red tape. Even thought they have operations in the states, the japanese way of doing business overrides and they have difficulty undersanding business ops in the states and other countries. If you are not Japanese you will be the first laid off. Management is not looking out to move the organiztion forward they only care about their next assigment. Super stars leave after the first year or 2 and what is left just maintains operations. Extremely political to a point where nothing gets done in the right way.

Advice to Senior ManagementStop worrying about your next assignment and try and move the business forward.

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Work Place

Anonymous Employee (Current Employee)

I have been working at Sumitomo Mitsui

ProsStable career path is ensured as most people stay for years
people are reasonable
large corporate
profitable
professionla
colleagues are helpful in general

ConsJapanese culture
lack of training opportunity
lack of networking chance
management is very vertical
there should be lots of room for improvement

Advice to Senior Managementthe management should be flexisble and eager to listen to employee
compensation should be more competitive and aggressrive to attract talents

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Need to break the current mould ...

Anonymous Employee (Former Employee)

I worked at Sumitomo Mitsui

ProsMore active approach to capital usage. Happy to be a commercial bank and operate across many countries to support client needs

ConsVery disfunctional. Japanese management are more focused on managing their next career steps than improving the business. Technology, policies, processes are all of especially poor standard vs non-Japanese banks and limit competitiveness

Advice to Senior ManagementLook for more opportunities to westernise the bank from top down, thereby having a more client/employee friendly approach. Senior mgmt should be rewarding Japanese middle mgmt for taking sensible risk, restructuring their businesses, etc

No, I would not recommend this company to a friend

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Glassdoor is your free inside look at Sumitomo Mitsui reviews and ratings - including employee satisfaction and approval ratings for Sumitomo Mitsui CEO Koichi Miyata. All 14 reviews are posted anonymously by Sumitomo Mitsui employees.