BMO Financial Group | Making money make sense (2024)

FAQs

Why do you want to work for BMO answer? ›

Sample Answer 3:

The bank's commitment to creating a diverse and inclusive work environment tells me this is where I can grow as a financial professional. My analytical skills, teamwork, and passion for innovation can contribute significantly to BMO's esteemed reputation.

The estimated total pay range for a Personal Banker at BMO Financial Group is $56K–$67K per year, which includes base salary and additional pay. The average Personal Banker base salary at BMO Financial Group is $56K per year.

We work with people who have a minimum of $100,000 in investible assets. What information do I need to provide to get started?

What is Bank of Montreal Financial Strength? Bank of Montreal has the Financial Strength Rank of 3. It displays poor financial strength and is likely in financial distress.

The best answer to this question includes something that personally stood out to you in your research about the company, what that means to you and the contribution that you could make in the role you are interviewing for. The best answer focuses on the company, not yourself or your needs.

1. Goldman Sachs is the highest paying bank overall - $398k in combined salaries and bonuses, on average. Goldman Sachs, which paid average salaries of $200k and average bonuses of $199k for 2023, was the highest paying bank we polled.

While this means that personal banking does not pay as well as investment banking and other Wall Street careers, it does offer a better work-life balance. However, since it is involved with financial planning, it can be stressful if a person makes mistakes.

The BLS also breaks down compensation for personal bankers by hourly salary, and the median average hourly pay for personal bankers in 2022 was $32. Lowest hourly earners took home $19 while the highest reported hourly salaries for personal bankers was $91.

Bank of Montreal, together with its sub- sidiaries, is known as BMO Financial Group. As such, in this document, the names “BMO Bank of Montreal” and the “Bank” mean the Canadian retail banking division of Bank of Montreal, and “BMO Financial Group” and “BMO®” mean Bank of Montreal together with its subsidiaries.

Is BMO a fiduciary company? ›

It is a fiduciary management service offering proven expertise in every key discipline. Our dedicated team will always engage in a concise and helpful manner. With BMO Fiduciary Solutions, you can always be sure of cost effective implementation and clear, focussed reporting.

Any minimums in terms of investable assets, net worth or other metrics will be set by individual wealth managers and their firms. That said, a minimum of $2 million to $5 million in assets is the range where it makes sense to consider the services of a wealth management firm.

In the United States, BMO does business as BMO Financial Group, where it has substantial operations in the Chicago area and elsewhere in the country, where it operates BMO Bank, N.A.. BMO Capital Markets is BMO's investment and corporate banking division, while the wealth management division is branded as BMO Nesbitt ...

Drawbacks of BMO Performance Chequing Account

Each additional withdrawal will cost you $2, while you'll be charged $5 per transaction at ATMs outside of Canada. Account holders also do not get any discounts on other BMO products such as cheques, money orders, safety deposit boxes and foreign exchange fees.

What Are the Big Five Banks? The Big Five Banks is a term used in Canada to describe the five largest banks: Royal Bank, Toronto-Dominion Bank, the Bank of Montreal, the Canadian Imperial Bank of Commerce, and the Bank of Nova Scotia.

I stayed because of BMO's focus on the customer, the opportunities for continuous learning, and for my career growth and development. I love working here because of the people, the interesting and challenging work, and because of BMO's inclusive culture.

Community connections. Enjoy a work culture that encourages you to make a difference outside the office, in the communities we serve. Make the most of your time with us through team volunteering, fundraising and employee giving opportunities.

I enjoy working in a team-oriented environment and thrive on the challenges and fast-paced nature of the banking industry. In addition to my technical skills, I am a great communicator and have honed my problem-solving abilities by resolving customer issues and finding solutions to meet their banking needs.

Example: “I feel that a career in the financial industry would be the most beneficial use of my knowledge and skills in accounting and problem-solving. I have always been fascinated by the financial world, am ambitious and hard-working and can bring great value to your company.”