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CIBC
CIBC employees place inspiring words and tributes on their branch's Wall of Hope

Recognized as one of Canada's Top 100 Employers (2016)

Here are some of the reasons why CIBC was selected as one of Canada's Top 100 Employers (2016), Ten Best Companies to Work For (2016), Top Employers for Canadians Over 40 (2016) and Greater Toronto's Top Employers (2016):

  • CIBC continues to create new jobs at home, adding over 300 full-time positions last year, and encourages employees to become owners of the bank through a share purchase plan
  • In addition to helping employees prepare for life after work, CIBC maintains a Retiree Advisory Committee which represents the views of the bank's retirees on issues affecting them, provides input on communications to retirees and on policy review and development -- additionally, the bank publishes "RetireeNews" and maintains a dedicate website to encourage retired employees to connect
  • A leading corporate citizen, CIBC has built upon early employee initiatives and created some of the country's most recognized community fundraising initiatives, including the Canadian Breast Cancer Foundation CIBC Run for the Cure (over $39 million since 1997) and the CIBC Miracle Day (raising nearly $74 million over 30 years) in support of children's charities
CIBC employees volunteering with the BC Children's Hospital
CIBC's Team Next!, a CIBC funded team of athletes offered opportunities for funding and mentorship

Employer Background

Industry Banking
Publicly traded yes
Full-time employees in Canada 35,438
Part-time employees in Canada 6,040
Full-time employees worldwide 36,535
Workforce engaged on a contract basis 3.4%
Average age of employees in Canada 42.4
Longest serving employee 59.1 years

Physical Workplace

Commuter amenities transit subsidies, subsidized parking, secure/sheltered bicycle parking
Workplace features located in the heart of Toronto's financial district, the head office Commerce Court complex consists of four distinct office buildings, including the historically designated North Tower (which was the tallest building in the British Commonwealth when completed in 1931) and the 57-storey West Tower, which is one of the city's tallest skyscrapers, outdoor courtyard features a water fountain and is home to a variety of events throughout the year, corporate art collection displayed throughout head office, direct access to the city's extensive underground PATH walking network, which provides all-weather access to public transit, retail shops and services, restaurants and cafés, shared-use onsite fitness facility, BIXI bicycle sharing station steps away, telecommuter workstations, religious observance room, self-serve lunchroom, outdoor patio, discounts at local restaurants
Employee lounge amenities comfortable seating, television, meeting space on the 56th floor that offers breathtaking views and where executives host over 20,000 employees each year for special events and meetings
Onsite cafeteria healthy menus, special diet menus
Other nearby amenities Toronto Central YMCA, Amesbury Community Centre, fitness club, daycare, restaurants, shopping mall, Rogers Centre, Air Canada Centre, Hummingbird Centre, Roy Thompson Hall, Four Seasons Centre for the Performing Arts, a variety of post-secondary institutions, St. Lawrence Market

Work Atmosphere & Communications

Employee social committee name numerous employee-led social committees as well as company-sponsored affinity groups active across the bank
Recent social events company-wide "CIBC Employee Appreciation Day", hosts a unique "Diversity Month" every June (and has done so for over 20 years), impressive children's party at Christmas for employees and their children, hosted at the Metro Toronto Convention Centre (over 2,000 kids in attendance, includes entertainment, amusement park rides, lunch and gifts), annual holiday celebration called the "One Night Party" for employees and guests, which includes dinner, drinks, entertainment and dancing (and a taxi ride home)
Cultural aspects employee sports teams, business casual dress, casual dress Fridays, music while working, concierge services available
Employee communications intranet site, company newsletter, traditional/email suggestion box
Other in-house communications unique "What If?" suggestion program (suggestions are reviewed each quarter with one idea selected as the best idea -- the employee who made the suggestion receives an additional paid day off), new "Amazing Ideas" initiative on the company's intranet (lets employee share and discuss their ideas with colleagues from across the bank), the "Amazing Moments" program, lets employees share their best work stories across the bank, intranet-based "Newsfeed", allowing employees to share photos and updates within an internal social network, "Communities" feature allows employees to share information on a range of topics, from sports to diversity issues to skill development, a dedicated retiree website

Financial Benefits & Compensation

Outside salary surveys participates in outside salary surveys every 12 months
Employee salary reviews individual salaries are reviewed every 12 months
Long-term savings defined-benefit (DB) pension
Long-term planning retirement planning assistance, phased-in retirement work options, life & disability insurance
Share purchase plan available to all employees
Year-end bonuses available to all employees
Referral bonuses new employee referral bonuses (up to $1,000) for some positions
Signing bonuses available for some positions
Additional financial benefits subsidized home insurance, subsidized auto insurance, low-interest home loans, waived fees, bonus offers and preferred rates on CIBC banking products and transactions, "WorkPerks" discount program for employees and retirees, which includes savings on a variety of goods and services across Canada, from transit fares to computer hardware to fitness club memberships

Health & Family-Friendly Benefits

Health plan premium as part of the health plan, the employer pays up to 100% of the premiums
Flexible coverage health plan is flexible with adjustable premiums and coverage levels
Minimum hours worked for coverage 15 hours per week
Waiting period there is no waiting period for coverage
Family coverage option yes
Retiree coverage with no age limit yes
Dental coverage routine, restorative, orthodontics
Traditional coverage (e.g. prescription drugs) yes
Additional coverage employee assistance (EAP) plan, physiotherapy, medical travel insurance, medical equipment and supplies, massage therapy, podiatrist, osteopathy, chiropractor, alternative coverage (e.g. accupuncture, naturopathy), free online "Wellness Checkpoint" tool that lets employees create a personalized health profile that can be shared with their physician
In vitro fertilization (IVF) $3,000 per lifetime
Maternity top-up (mothers) up to 100% of salary for 6 weeks
Parental top-up (fathers) up to 100% of salary for 6 weeks
Adoption top-up up to 100% of salary for 6 weeks
Additional family-friendly benefits extended parental leave to unpaid leave, daycare centre onsite, emergency short-term daycare
Alternative work options flexible work hours, shortened work week (fewer hours with less pay), compressed work week, telecommuting, reduced summer hours
Additional family-friendly information unique modified work days and rotating schedules to fit employee schedules, employees may take time off in lieu of overtime pay (1.5 hours earned for every 1 hour of overtime worked) up to 20 days of emergency back-up childcare at various locations across Canada (employees can purchase up to 15 additional days at a reduced rate), preferred rates for pet insurance

Vacation & Personal Time-Off

Vacation allowance new employees receive 3 weeks of paid vacation after their first year on the job
Maximum vacation allowance employees move to a maximum of 5 weeks of vacation over their career
Unpaid leave maximum 24 months
Additional time-off information bereavement leave to 3 days (up to 8 days if travel is required), personal leave for training and education purposes (up to 5 days), some employees start with 4 or 5 weeks paid vacation, depending on the level of their position

Employee Engagement & Performance

Managers receive performance review training yes
360° feedback option as part of the review process, performance feedback is also solicited from co-workers and other managers familiar with each employee's work
Confidential employee feedback employees can also provide confidential feedback on their manager's performance
Exit interview exit interview option is available for departing employees
Performance recognition individual performance bonuses, on-the-spot rewards, peer-to-peer-recognition awards, long-service awards, tailored and unique rewards (i.e. travel), "CIBC Achievers" program, which allows employees to send informal electronic cards or nominate colleagues for quarterly and annual awards (recipients of the annual award are invited with guest to the annual conference of CIBC top performers), the "Key Contributor Awards" includes share options for senior-level employees
Outside survey period outside consultant surveys are held every 12 months

Training & Skills Development

Career planning in-house career planning services
In-house training initiatives apprenticeship/skilled trades programs, mentoring, in-house training, online training, leadership training, paid internships, subsidies for professional accreditation
Tuition subsidies (related to job) yes
Tuition subsidy coverage employer covers up to 100% of tuition per year
Tuition subsidies (unrelated to job) yes
Unrelated tuition subsidy coverage employer covers up to 100% of non-related tuition per year
Financial bonuses for course completions yes
Unique training & development programs job-shawdowing program, Financial Services Leadership Program developed in partnership with York University's Schulich School of Business, financial bonuses for course completions range from $500 to $2,500 and may be paid out as bonuses or through automatic salary increases

Community Involvement

Scope of charitable involvement local, national, international
Employee charitable involvement employees are involved in selection of charities, employees receive paid time off to volunteer
Total employee volunteer hours (on company time) over 180,000 hours last year
Total number of charities supported last year approximately 1,780 charitable and community organizations were supported last year
Some of the community organizations supported Tour CIBC Charles-Bruneau, CIBC 401 Bike Challenge (has raised nearly $1.3 million for cancer care in the past decade), CIBC Miracle Day, United Way (over $13 million raised last year), CIBC Youth Vision ($1 million every year to help students in need attend college or university), new CIBC Women in Financial Services Scholarship program (over $1.5 million to fund 48 scholarships in partnership with Rotman School of Management and the Richard Ivey School of Business)
Charitable giving matches employee volunteer hours with company donations
Community highlight A longstanding community leader, CIBC and its employees sponsor numerous charitable and community initiatives with many of those tracing their beginnings to initiatives spearheaded by small groups of employees with the bank, including the Canadian Breast Cancer Foundation CIBC Run for the Cure, Movember and CIBC Miracle Day and Children's Foundation. The bank is also an active sponsor of many communtiy events, including being a major sponsor of the recent Toronto 2015 Pan Am and Parapan Am Games.

Recognized as one of Canada's Top Employers for Young People (2016)

Here are some of the reasons why CIBC was selected as one of Canada's Top Employers for Young People (2016):

  • CIBC and the Canadian Breast Cancer Foundation issued a fundraising challenge to encourage college and university students to learn about breast health and support the cause -- CIBC Education Awards of $2,500 were awarded to the top 15 student fundraisers nationally and top students in each of the five Canadian Breast Cancer Foundation regions
  • CIBC manages a Risk Management Development Program for students completing their final year of student in Business Administration or a related program -- the 2-year program includes four 6-month rotations in market, credit and operational risk
  • Additionally, CIBC offers a number of rotational programs in a variety of areas, including a Technology Leadership Associate Program, a Commercial Banking Associate Program, a Human Resources Development Program and a Graduates Matter Rotation Program for students in their final year of study for a Masters of Business Administration or related program
CIBC employees pose with CIBC Youthvision scholars

Highlights

Industry Banking
Full-time employees in Canada 35,438
Student opportunities summer jobs, co-op opportunities, paid internships
Tuition subsidies (related to job) yes
Career development in-house training, online training, in-house career planning services, mentoring, leadership training, apprenticeship/skilled trades programs
Vacation allowance new employees receive 3 weeks of paid vacation after their first year on the job
Unique initiatives has committed over $14 million to universities and colleges, offers scholarships for students and matches recipients with a mentor from the line of business they're interested in, GenNext@CIBC, leadership development program that provides community engagement opportunities for younger employees

Recognized as one of Canada's Best Diversity Employers (2016)

Here are some of the reasons why CIBC was selected as one of Canada's Best Diversity Employers (2016):

  • CIBC recognizes individuals and teams that promote diversity both internally and externally through the Diversity Champion Award and the Team Impact Award -- and recently introduced the Inclusive and Consultative Leader Award, for an individual who has taken personal accountability to lead and enhance open and trusting environments, and the Community Impact Award, for individuals who positively impact diverse and inclusive communities outside of the bank
  • CIBC established "WorkAbility", an employee network for persons with disabilities, and in partnership with the bank's technology advisory committee, organizes an Assistive Technology Showcase to promote awareness of accessibility issues and technologies and community partners that support persons with disabilities
  • CIBC partnered with a number of national Aboriginal employment organizations to develop "Pathways to Opportunity", a program to assist Aboriginal peoples with their career search -- the program features a series of workshops to develop resume writing, interviewing and networking skills, a mock interview with feedback, and a community networking session to develop professional connections with recruiters and hiring managers at the bank -- additionally, CIBC established a peer support program for new Aboriginal employees, in partnership with the bank's Aboriginal Employee Circle
CIBC employees at the organization's Diversity Awards
CIBC employees at PrideHouse TO

Highlights

Industry Banking
Full-time employees in Canada 35,438
Workforce representation female employees (60.3 %), female managers (52.0 %), visible minority employees (28.1 %), visible minority managers (23.3 %), Aboriginal employees (1.3 %), Aboriginal managers (1.1 %)
Diversity programs for disabilities, women, visible minorities, Aboriginal peoples, LGBT
Employee resource groups CIBC Women's Network (2,000 members), WorkAbility Employee Network (persons with disabilities), South Asian Employee Network, Asian Employee Network, Black Employee Network, Hispanic Network, Aboriginal Employee Circle, Pride Network, International Professionals Network
Formal commitment senior executive champion council, indigenous peoples action committee, persons with disabilities action committee, gender diversity and inclusion action committee, LGBT action committee, visible minorities and newcomer to Canada action committee, eight business unit diversity and inclusion advisory committees
Unique diversity initiatives Analyst and Associate Leadership Development Program for women in Canadian Capital Markets, gender intelligence workshops, Mosaic Mentorship Program (6-month collaborative mentoring for employee resource group members), CIBC Dream Makers program (mentoring and summer employment for Aboriginal scholarship recipients), 23rd annual diversity month celebrations, organizational standards to help trans-identified employees have positive workplace experiences as they undergo the transition process (developed in partnership with Pride at Work Canada)
Diversity community partnerships 100 Women in Hedge Funds (member), Job Opportunity Information Network, Indspire (mentoring for Aboriginal students), Aboriginal Human Resource Council, TRIEC (mentoring for new Canadians), Career Bridge (paid internships for newcomers), Aboriginal Futures Employment Centre, Out on Bay Street, ACCES Employment (speed mentoring for new Canadians)

The Career Directory

CIBC has been selected for The Career Directory, our guide to entry-level recruitment for recent college and university graduates.

Highlights for New Grads

Industry Banking
Full-time employees in Canada 35,438
Part-time employees in Canada 6,040
Student opportunities paid internships, summer jobs, co-op opportunities
Training subsidies for professional accreditation, orientation program, online training, in-house training, mentoring, in-house career planning services, leadership training
Tuition subsidies (related to job) yes
Other info for new grads average starting salary ranges widely with position (from $55K to over $85K, depending on the position
Typical new grad positions Analyst, Associate
Starting salary $55K to $60K
Work perks health benefits for new employees, flexible work hours, telecommuting
Vacation allowance new employees receive 3 weeks of paid vacation after their first year on the job

Academic fields recruited


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