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CIBC
CIBC employees participating in the company's hockey day in support of United Way   (Photo credit: Alex Urosevic)

Recognized as one of Canada's Top 100 Employers (2017)

Here are some of the reasons why CIBC was selected as one of Canada's Top 100 Employers (2017), Ten Best Companies to Work For (2016), Top Employers for Canadians Over 40 (2017) and Greater Toronto's Top Employers (2017):

  • CIBC offers a number of alternative work arrangements to help employees balance their personal and professional lives and manages a formal "CIBC@Work" program to help employees design work schedules that suit their individual needs
  • CIBC provides a number of communication and feedback tools to keep employees up to date and capture feedback, from the "Amazing Ideas" initiative that lets employees share and discuss ideas with colleagues on the company's intranet, to the intranet-based "Newsfeed", allowing employees to share photos and updates within an internal social network
  • In addition to helping employees save for the future, 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
Employees preparing to participate in the Tour CIBC Charles-Bruneau

Employer Background

Industry Banking
Publicly traded yes
Parent company Canadian Imperial Bank of Commerce
Parent company head office Toronto, Ontario
Major Canadian hiring locations Toronto ON, Ottawa ON, London ON, Montréal QC, Vancouver BC, Calgary AB, Edmonton AB, Winnipeg MB, Regina SK, Halifax NS, Fredericton NB, Victoria BC
Full-time employees in Canada 36,215
Part-time employees in Canada 5,665
Full-time employees worldwide 37,362
Workforce engaged on a contract basis 3%
Average age of employees in Canada 42.3
Longest serving employee 60.1 years

Physical Workplace B+

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 4 distinct office buildings, including the historically designated North Tower (opened in 1931 and remained the tallest building in the British Commonwealth until 1962) and the 57-storey West Tower, which is one of the city's tallest skyscrapers, the outdoor courtyard features a water fountain and is home to a variety of events throughout the year, workplace features corporate art collection on display, 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 of onsite fitness facility, BIXI bicycle sharing station, 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, branch locations usually feature a private break room with personal computer access
Onsite cafeteria healthy menus, special diet menus
Other nearby amenities Toronto Central YMCA, Amesbury Community Centre, fitness club, Toronto Harbourfront, 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 A+

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 (with over 2,000 kids in attendance enjoying 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 Amazing Ideas initiative on the company's intranet (lets employee share and discuss ideas with colleagues from across the bank), Amazing Moments program (lets employees share their best work stories), sponsored employee affinity networks, the intranet-based Newsfeed (lets employees share photos and updates within an internal social network), the Communities network (allows employees to share information on a range of topics, from sports to diversity issues to skills development), intranet-based Cijiji site (internal classified ad site), a CIBC Retiree Facebook Group, a retiree newsletter (RetireeNews)

Financial Benefits & Compensation A+

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 (max) 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, pet insurance, 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, transit discount through the TTC's VIP program, interest-free loans for the purchase of home computer equipment (to $5,000)

Health & Family-Friendly Benefits B+

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)
Other health plan information 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, 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 formal CIBC@Work program helps employees design work schedules to help balance their working and personal lives, 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 B

Vacation note CIBC has multiple employee groups, vacation policies may vary by position
Vacation allowance new employees receive 3 weeks of paid vacation after their first year on the job
Vacation jump vacation increases after 9 years of employment
Maximum vacation allowance employees move to a maximum of 5 weeks of vacation over their career
Personal paid days off employees can schedule 3 personal days off each year, as needed
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 new employees start with 4 or 5 weeks paid vacation, depending on the level of their position

Employee Engagement & Performance A+

Employee performance reviews employees receive individual performance reviews every 6 months
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 awards (and $250) as well as annual awards (recipients are invited with a guest to the annual conference of CIBC top performers -- last year's event was hosted in Maui, Hawaii)
Outside survey period outside consultant surveys are held every 3 months

Training & Skills Development A+

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
Related tuition subsidies employer covers up to 100% of tuition per year
Unrelated tuition subsidies employer covers up to 100% of tuition per year for courses unrelated to current position
Financial bonuses for course completions yes
Unique training & development programs job-shadowing program, leadership development program (for all new executives), 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, the CIBC Women in Financial Services Scholarship program (over $1.5 million to fund 48 scholarships in partnership with the Rotman School of Management and the Richard Ivey School of Business)

Community Involvement A+

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 1,850 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, Movember, OneWalk to Conquer Cancer, United Way (over $14 million raised last year), CIBC Youth Vision ($1 million every year to help students in need attend college or university)
Charitable giving matches employee volunteer hours with company donations
Community highlight A longstanding community leader, CIBC and its employees contributed over $65 million charitable and community causes in more than 425 communities across Canada. The bank regularly exceeds the 1% benchmark for corporate giving established by Imagine Canada. Across the Canada, CIBC and its employees sponsor numerous charitable and community initiatives, with many programs tracing their roots to initiatives spearheaded by small groups of employees within the bank, including the Canadian Breast Cancer Foundation CIBC Run for the Cure and CIBC Miracle Day and Children's Foundation.

Recognized as one of Canada's Top Employers for Young People (2017)

Here are some of the reasons why CIBC was selected as one of Canada's Top Employers for Young People (2017):

  • CIBC manages a comprehensive co-op program featuring lunch and learn workshops, coaching, mentoring, social events to help students across the organization connect and one-on-one career development sessions, which include resume and cover letter review -- in the past year, CIBC also partnered with MaRs Discovery District to create an innovation lab where a small team of co-op students and developers helped create the bank's Apple Watch mobile banking app
  • CIBC manages a Risk Management Development Program for students completing their final year of study 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 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 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 employees taking part in the CIBC Run for the Cure   (Photo credit: Mark O'Neill)

Highlights

Industry Banking
Major Canadian hiring locations Toronto ON, Ottawa ON, London ON, Montréal QC, Vancouver BC, Calgary AB, Edmonton AB, Winnipeg MB, Regina SK, Halifax NS, Fredericton NB, Victoria BC
Full-time employees in Canada 36,215
Student opportunities summer jobs, co-op opportunities, paid internships
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 offers scholarships for students and matches recipients with a mentor from the line of business they're interested in, GenNext@CIBC for employees in their 20s and 30s, CIBC committed $15 million to universities and colleges

Recognized as one of Canada's Best Diversity Employers (2017)

Here are some of the reasons why CIBC was selected as one of Canada's Best Diversity Employers (2017):

  • CIBC created gender balance action plans to improve the gender balance of women in leadership roles for each of the bank's seven business units, and recently updated its Board of Directors goal for the representation of women to no less than 30%
  • In 2015, CIBC announced a pilot partnership with Specialisterne Canada, an organization dedicated to helping individuals on the autism spectrum find meaningful employment -- to date, CIBC has hired eight individuals for roles in risk management and technology -- CIBC also maintains "WorkAbility", an employee network for persons with disabilities, and in partnership with the bank's technology advisory committee, organizes an annual Assistive Technology Showcase to highlight community partners and technologies to assist persons with physical and non-physical disabilities
  • In partnership with Pride at Work Canada, CIBC established an internal organizational standard to help create a positive employee experience when trans-identified employees transition in the workplace -- the bank also updated its anti-discrimination and anti-harassment policy to explicitly indicate that gender identity and gender expression are protected grounds
CIBC employees at PrideHouseTO   (Photo credit: Mark O'Neill)
"I arrived in Canada from India in May of last year. I felt very isolated being in a new place. I was applying for jobs and heard nothing, there were no replies. After months of unanswered applications, I became associated with The Mentoring Partnership (TMP). With coaching from my mentor from CIBC, I connected with potential employers and was soon able to join CIBC. I went from knowing no one in Canada to finding one person who believed in me and shortly after a whole organization that believes in me." Ruchika Singhal, Sourcing Associate, Talent Acquisition

Highlights

Industry Banking
Major Canadian hiring locations Toronto ON, Ottawa ON, London ON, Montréal QC, Vancouver BC, Calgary AB, Edmonton AB, Winnipeg MB, Regina SK, Halifax NS, Fredericton NB, Victoria BC
Full-time employees in Canada 36,215
Senior executive who oversees diversity initiatives Executive Champion for Diversity & Inclusion
Formal commitment maintains various councils and committees to address inclusion for Indigenous peoples, persons with disabilities, gender, the LGBT community, visible minorities and newcomers to Canada, employs designated diversity recruiters
Employee resource groups Women's Network (3,000 members with chapters in Vancouver, Calgary, Toronto, Montréal, Halifax, New York and the UK), WorkAbility Employee Network (500 members), South Asian Employee Network, Asian Employee Network, Black Employee Network, Hispanic Network, Aboriginal Employee Circle, Pride Network, International Professionals Network , GenNext (for employees in their 20s and 30s)
Diversity training and awareness learning series to educate employees and business partners on topics such as mental health, accommodations and disability inclusion
Diversity highlights Career Access recruitment programs for persons with disabilities, Indigenous peoples, newcomers and LGBT job-seekers, Para-Athlete Career Transition program, Mosaic Mentorship Program, CIBC Dream Makers program (mentoring and summer employment for Aboriginal scholarship recipients), on-reserve banking centres located in urban, rural and remote communities for Indigenous peoples, 24th annual Diversity Month celebrations, internal awards to recognize individual and team efforts to promote diversity, sponsorship of a global multi-sport games Pride House as part of CIBC's sponsorship of the 2015 Pan Am/Parapan Am Games games
Some of the diversity-focused partnerships 100 Women in Hedge Funds (member), Job Opportunity Information Network (persons with disabilities), Indspire (24-year partnership to support First Nation, Inuit and Métis communities), TRIEC (mentoring for new Canadians), Career Bridge (paid internships for newcomers), ACCES Employment (speed mentoring for new Canadians), Out on Bay Street

The Career Directory

CIBC has been selected for The Career Directory, our guide to entry-level recruitment for recent college and university graduates.
Employees preparing to participate in the Tour CIBC Charles-Bruneau

Highlights for New Grads

Industry Banking
Parent company Canadian Imperial Bank of Commerce
Parent company head office Toronto, Ontario
Major Canadian hiring locations Toronto ON, Ottawa ON, London ON, Montréal QC, Vancouver BC, Calgary AB, Edmonton AB, Winnipeg MB, Regina SK, Halifax NS, Fredericton NB, Victoria BC
Full-time employees in Canada 36,482
Part-time employees in Canada 5,263
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
Other info for new grads Average starting salary ranges widely with position (from $40K to over $85K), depending on the position.
Typical new grad positions Analyst, Associate
Starting salary $40K to $45K
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

Recruits at these schools


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