Apply Online
CIBC
Employees take part in the annual CIBC Run for the Cure in support of the Canadian Cancer Society   (Photo credit: Joanna Bell)

Recognized as one of Canada's Top 100 Employers (2022), Top Employers for Canadians Over 40 (2022) and Greater Toronto's Top Employers (2022):

Here are some of the reasons why CIBC was selected as one of Canada's Top 100 Employers (2022), Top Employers for Canadians Over 40 (2022) and Greater Toronto's Top Employers (2022):

  • CIBC encourages employees to put their health first with a flexible paid sick day policy and introduced up to 10 additional paid personal days to help employees manage unexpected issues as a result of the pandemic (such as school closures)
  • CIBC prioritized connection and communication over the past year, hosting its first ever all-team live meeting with the CEO (who shared updates and answered questions), conducting listening exercises to better understand how the pandemic was impacting employees and communities, and facilitating social connection through the Staying Connected virtual group and Workplace by Facebook social intranet
  • CIBC takes a thoughtful approach when helping employees manage unexpected challenges, offering compassionate leave top-up for those called upon to care for a loved one (to 100 per cent of salary for up to eight weeks)
CIBC employees celebrate Pride Month in the office  

Employer Background

Industry Banking
Established in Canada 1867
Publicly traded yes
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 36,744
Part-time employees in Canada 3,641
Full-time employees worldwide 39,663
Workforce engaged on a contract basis 2%
Average age of employees in Canada 42.7 years
Longest serving employee 62.3 years

COVID-19

Pandemic response temporary $50 per diem for employees providing essential services and needing to work onsite (between March 2020 and June 2020), temporary top-up payments for front-line part-time employees, interest-free "purpose" loan (increased to $10,000 during 2020), up to 10 additional paid personal days (to help manage unanticipated issues as a result of the pandemic), discounted rates for home office equipment, introduced a new Wellbeing Account (includes reimbursement for fitness services and equipment, health products and services, and even food delivery fees), well-being resources and training on topics such as building personal resiliency (to address pandemic fatigue and strain), work-life balance, and mindfulness

Physical Workplace Rating: B+

Editorial note due to the pandemic, some workplace amenities may be temporarily unavailable
Commuter amenities subsidized parking, electric vehicle charging stations, secure/sheltered bicycle parking, nearby bike sharing station
Workplace features located in the heart of Toronto's financial district, CIBC's head office in the Commerce Court complex consists of four architecturally distinct office buildings and an outdoor courtyard, inside, the workplace features direct access to the city's underground PATH walking network, telecommuter workstations, sit-stand workstations, private phone booth, religious observance room, self-serve lunchroom, outdoor patio, outdoor barbecue, discounts at local restaurants, CIBC is preparing to open its new global headquarters (CIBC Square) in late 2021, which will be home to 14,000 employees and one of the largest commercial construction projects in North America (designed to meet LEED Platinum and WELL certification standards, the new space includes a variety of workspaces, conference and event spaces, private dining, a fitness facility, and a Downie Wenjack Fund "Legacy Room" area to support reconciliation and inclusion)
Employee lounge amenities comfortable seating, music, television, video games, pool table, foosball table, table hockey, board games, table tennis, meeting space on the 56th floor offers breathtaking views, branch locations usually feature a private break room with personal computer access
Snacks available apples, bananas, cookies, granola, yogurt (available at some locations)
Onsite cafeteria healthy menus, special diet menus, subsidized meals, free meals daily, take-home meals
Other nearby amenities Toronto Central YMCA, St. James Park, Rogers Centre, Scotiabank Arena, Roy Thompson Hall, Four Seasons Centre for the Performing Arts, St. Lawrence Market

Work Atmosphere & Communications Rating: B

Employee social committee name numerous employee-led social committees, as well as company-sponsored affinity groups (called People Networks)
Past social events hosted holiday celebrations both virtually and onsite with appropriate measures and physical distancing, company-wide CIBC Employee Appreciation Day, 17 days of significance are recognized throughout the year such as Black History Month, International Women’s Day and Pride
Cultural aspects business-casual dress daily, dress-for-your-day policy, casual dress (e.g. jeans) daily, casual dress Fridays, music while working, concierge services available, employee sports teams, organized social activities for retirees
Employee communications intranet site, company newsletter, traditional/email suggestion box, internal social media
Other in-house communications CEO hosted the bank's first all-team live meeting in 2021 to share updates and achievements as well as answer questions, conducted several listening exercises with employees to better understand how the pandemic was impacting individuals and communities, Ask Dr. Brown podcast and video series (featuring the bank's corporate medical director answering pandemic questions), the Purpose Pandemic Docuseries (videos, podcasts and written stories from across the bank), Staying Connected virtual group, Workplace by Facebook social intranet

Financial Benefits & Compensation Rating: 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
Profit-sharing 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 discounted home insurance, discounted auto insurance, low-interest home loans, discounted auto lease rates, preferred rates and discounted fees on CIBC banking products and services, interest-free "purpose loan" (up to $5,000) for personal use and payable back in 48 months, matches employee share purchases to 50 cents for every dollar (up to $2,250 annually), WorkPerks discount program for employees and retirees (includes savings on a variety of goods and services across Canada)

Health & Family-Friendly Benefits Rating: 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
Health plan includes traditional coverage (e.g. prescription drugs), employee assistance (EAP) plan, semi-private hospital room, physiotherapy, medical travel insurance, homecare, medical equipment and supplies, massage therapy, podiatrist, osteopathy, chiropractor, alternative coverage (e.g. acupuncture, naturopathy), virtual healthcare services
Mental health practitioner benefit up to $2,000 each year
Additional health plan information flexible paid sick day policy to encourage employees to stay home and recover before returning to work (for illness lasting longer than 6 consecutive days, employees may be eligible for short- and long-term disability coverage), fertility drug coverage to a lifetime maximum of $3,000, health and wellness spending accounts (amounts depend on remaining flex credits), company pays a portion of retiree and family premiums, fitness club subsidy available through employee discount program (WorkPerks)
Wellness initiatives online Wellness Checkpoint health assessment (employees receive $60 upon completion), introduced a wellbeing account over the past year (includes reimbursement for fitness services and equipment, health products and services, and even food delivery fees), virtual mindfulness sessions, access to LifeSpeak video series (with information on a range of physical and mental health topics), and Building our Personal Resiliency program to address pandemic fatigue and strain amongst employees
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, phased-in return to work for new parents, emergency short-term child care
Flexible work options flexible work hours, 35-hour work week (with full pay), shortened work week (fewer hours with less pay), compressed work week, telecommuting, reduced summer hours, earned days off program
Additional family-friendly information flexible workplace program to help employees design schedules to balance their working and personal lives

Vacation & Personal Time-Off Rating: B+

Vacation allowance new employees receive 3 weeks of paid vacation after their first year on the job
Vacation jump vacation increases after 6 years of employment
Maximum vacation allowance employees move to a maximum of 5 weeks of vacation over their career
Previous experience considers previous work experience when setting annual vacation for new employees
Personal paid days off employees can schedule 3 personal days off each year, as needed
Unpaid leave maximum 24 months
Self-funded/deferred salary leave yes
Additional time-off information some employees may start with additional paid vacation depending on their position, up to 3 paid and 8 unpaid personal days annually, one-time bonus week of vacation after 25 years on the job and every 5 years thereafter, bereavement leave (up to 10 paid days depending on circumstance), personal leave for training and education (up to 5 paid days), annual Purpose Day (employees receive 1 paid day to do anything that helps them achieve their life goals), introduced 10 additional paid days to help manage unanticipated issues as a result of the pandemic (school closures, caring for dependents)

Employee Engagement & Performance Rating: A+

Employee performance reviews employees receive individual performance reviews every 12 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 (e.g. travel), new MomentMakers employee appreciation and recognition program to recognize exceptional achievement in four areas (encouraging efforts, rewarding results, honouring the best, and celebrating careers), employees can publicly recognize colleagues with redeemable points and e-cards, or nominate peers for Purpose Awards (which can be banked or redeemed for gifts, experiences, or even a charitable donation)

Training & Skills Development Rating: A+

Career planning in-house career planning services, online employee skills inventory
In-house training initiatives apprenticeship/skilled trades programs, mentoring, in-house training, online training, leadership training, paid internships, subsidies for professional accreditation, mentoring to transfer retirees' skills
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 depending on their position, employees may be eligible for salary increases on the completion of certain courses, online learning module with over 1,200 digital courses, access to a variety of third-party online training providers (including Percipio, Canadian Management Centre, and Canadian Securities Institute), inclusive leadership training (topics include unconscious bias, Holding Blanket Exercises, and addressing anti-Black and other forms of systemic racism), CIBC Leadership Institute (provides training for leaders at three different levels within the organization)

Community Involvement Rating: 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 109,000 hours last year
Total number of charities supported last year approximately 4,864 charitable and community organizations were supported last year
Some of the community organizations supported Canadian Cancer Society (CIBC Run for the Cure raised more than $8.5-million in the past year with over 6,500 employees participating), CIBC Miracle Day and CIBC Children's Foundation (raised over $6-million for children's charities globally for its 35th anniversary), Movember, Junior Achievement, One for Change, Ronald McDonald House Charities, Inspire, Holland Bloorview, Michael Pinball Clemons Foundation
Charitable giving matches employee donations, matches employee volunteer hours with company donations
Community highlight A longstanding community leader, CIBC and its employees contributed over $75-million to charitable and community causes across Canada in 2020. The bank focuses its corporate giving in four areas (cancer, inclusive communities, financial education, and youth), and has maintained a steady focus on cancer treatment and research over the years (in recognition of its importance to employees and their families). Additionally, through the CIBC Employee Volunteer Program, employees and retirees can earn up to $500 reward dollars annually, which can be donated to the charity or non-profit organization of their choosing.
Pandemic-related community initiatives CIBC increased financial support to a number of charities at the local, regional and national level working to address impacts of the pandemic, including the United Way, Kids Help Phone, Canadian Blood Services and Community Food Centres Canada. The bank also established the CIBC Future Heroes Bursary Program, investing $500,000 over two years towards the education of tomorrow’s health care professionals.

Recognized as one of Canada's Top Employers for Young People (2022):

Here are some of the reasons why CIBC was selected as one of Canada's Top Employers for Young People (2022):

  • CIBC offers a number of rotational career programs in a variety of areas, including retail and business banking, wealth management, technology and operations, and human resources, to name only a few -- additionally, through the bank's comprehensive summer internship programs, participants engage in coaching, mentoring, special projects and social functions
  • As part of the bank's response to the pandemic, CIBC created a virtual Student Leadership Academy for incoming summer students, offering business-led webinars, workshops, and curated online content (orientation was also entirely virtual)
  • CIBC maintains partnerships with various organizations to offer unique student opportunities, including the Rotman School of Management and Schulich School of Business -- the bank hires students for eight to 10-month consultative projects to help solve business challenges, and financially compensates students for their work
CIBC employees participated in the company's 2019 Movember campaign, raising over $350,000 globally  

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 36,744
Student opportunities summer jobs, co-op opportunities, paid internships
In-house training programs orientation program, in-house training, online training, in-house career planning services, online employee skills inventory, mentoring, leadership training, apprenticeship/skilled trades programs
Related tuition subsidies employer covers up to 100% of tuition per year
Unique training and development opportunities CIBC Welcomes You (information about the bank's history, structure and strategy, as well as details on programs and initiatives), myFirstYear website to orient new employees, buddy and peer mentor program for new students and graduates (senior mentors for participants of full-time career programs), SWAT program to enable undergraduate and MBA students to work in project-based teams to collaborate, share ideas and apply problem-solving skills on real-world challenges (students pitch their solutions to the bank's most senior leaders at the end of the term), is a CPA approved training office (participants in the CPA Rotational Program receive broad exposure to various areas of finance-related functions during the 3-year program)
Additional highlights paid internships for students between the ages of 14 and 17 (offered by CIBC Digital, in partnership with The Knowledge Society), Thought Forums (students are given 1 week to develop recommendations to challenging questions), internal digital learning programs including onboarding e-learning modules, access to third-party online learning catalogues (Percipio, Canadian Securities Institute, and Global Knowledge)
Dedicated employee resource group CIBC NextGen Network for employees in their 20s and 30s, provides forum for young employees to make meaningful connections and to engage in networking and philanthropic activities
Vacation allowance new employees receive 3 weeks of paid vacation after their first year on the job

Recognized as one of Canada's Best Diversity Employers (2022):

Here are some of the reasons why CIBC was selected as one of Canada's Best Diversity Employers (2022):

  • CIBC's inclusion and diversity leadership council hosts listening exercises to understand barriers faced by segments of its employee population and conducts confidential diversity questionnaires (employees can opt to be contacted to provide feedback on inclusion-related initiatives) -- in the past year, employees were consulted on the impact of the pandemic on them and their communities, during the rise of conversations around anti-Black and Indigenous systemic racism and during the rise of anti-Asian sentiment
  • As part of CIBC's commitment to the BlackNorth Initiative, the bank announced a new target to have four per cent of board-approved executive roles in Canada held by leaders from the Black community by 2023 -- and set a new goal to ensure that a minimum of five per cent of student recruitment in its fiscal 2021 year is from the Black community and is currently on track to meets its target
  • CIBC developed a five-year accessibility roadmap to integrate inclusive design and improve accessibility for clients and its team members, focusing on key areas including creating a more accessible physical environment, increased focus on invisible disabilities and establishing an enterprise standard for digital accessibility
CIBC employees at a past company Lunar New Year celebration   (Photo credit: Andy Wong)

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 36,744
Management of diversity and inclusion initiatives inclusion and diversity leadership council (chaired by president and CEO), dedicated inclusion and diversity team supports the council, inclusion and diversity action committees for each business unit (responsible for executing tactics on their annual diversity plan scorecard), metrics on gender-balanced and visibly diverse leadership are considered during all senior leaders' annual performance reviews (including the CEO)
Performance management and accountability confidential diversity questionnaire (employees can opt to be contacted to provide feedback on inclusion-related initiatives), announced new target for 4% of board-approved executive roles in Canada to be held by Black leaders by 2023, target of 22% of visible minorities in board-approved executive roles by 2022, goal for 5% of student recruitment in fiscal 2021 from the Black community (on track to meet target), set short- and long-term goals to increase women in executive team as well as other parts of the bank's business where gender-balanced teams are not already established (such as STEM roles)
Employee resource groups membership to CIBC's people networks connect more than 23,000 employees, networks provide professional growth through peer mentoring and other activities, networks include the Women's Network (6,900 members with Canadian chapters in Vancouver, Calgary, Toronto, Montréal and Halifax), WorkAbility Network (3,300 members), South Asian Employee Network, Asian Employee Network, Black Employee Network (2,000 members), Latin Employee Network, Indigenous Employee Circle (800 members), Pride Network (1,300 members), International Professionals Network (2,400 members), NextGen (young professionals)
Noteworthy diversity strategies and policies inclusion and diversity leadership council hosts listening exercises to understand barriers faced by segments of the employee population, introduced a non-binary option in its HRIS to allow employees to select a range of pronoun options, 5-year accessibility roadmap
Recruitment initiatives partnerships for recruitment with NPower, Lime Connect and Specialisterne, is also developing dedicated recruitment strategies for the LGBTQ+ community, in partnership with its Pride Network and community organizations (currently collecting data on sexual orientation and gender identity from job-seekers to help inform its strategies)
Training and awareness initiatives Practicing Intentional Inclusion (mandatory e-learning on how assumptions influence decisions and create biased outcomes), unconscious bias training delivered to over 3,000 leaders including CIBC's global executive team and board of directors (training includes tactics to disrupt bias-in-action and practice inclusive leadership), Blanket Exercises hosted in partnership with CIBC's Indigenous Employee Circle, inclusive client interactions training for front-line employees
Diversity highlights client-facing businesses have scorecard goals that include financial education for underserved communities and outreach events focusing on serving the unique needs of diverse communities
Highlights from the past year launched new banking program for Black-owned businesses in Canada (access to advice, banking solutions and financing designed to remove barriers for Black entrepreneurs and business owners), announced in early 2021 that funding for education and resource programs for the Black community is being doubled to $2-million annually, will include the creation of a scholarship program, internship and mentorship experiences

Recognized as one of Canada's Greenest Employers (2022):

Here are some of the reasons why CIBC was selected as one of Canada's Greenest Employers (2022):

  • CIBC works to cultivate a culture of environmental sustainability, encouraging employees to connect and engage on environmental topics through a formal online Workplace Environment Group where conversations range from sustainable finance to energy and waste reduction to green technology and more
  • Every year, CIBC employees participate in Earth Hour, Earth Day, and Waste Reduction Week events -- and through the employee volunteer program, employees are encouraged to support local environmental initiatives leading to monetary donations courtesy of the bank to an environmental organization of their choice
  • CIBC's new head office in downtown Toronto is being built to LEED Platinum certification (the highest certification possible) and has numerous environmental features, from combined rainwater and groundwater systems to energy-efficient HVAC systems to daylight and occupancy lighting sensors
CIBC employees support the local community with donations for families in need  

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 36,744
Part-time employees in Canada 3,641
Employee green team Workplace Environment Group
Senior executive who oversees initiatives Senior Vice President, Enterprise Risk Management
Formal strategy/policy name Corporate Environmental Policy
Publishes sustainability report yes
Green highlights paperless banking services, mortgage loan product for greener homes, renewable power (wind, solar, geothermal) project loans and financing, formal "CIBC@work" program (to increase telecommuting and reduce work travel), a commitment of $150-billion to environmental and sustainable finance activities over 10 years (2018–2027), CIBC’s Green Bond Framework (issued a US$500-million, 5-year green bond to help finance new and existing projects, assets and businesses that help mitigate climate-related risks)
Noteworthy initiatives EcoGeeks (an employee tech team whose mission is “to help CIBC lead the financial industry towards a low-carbon economy and a healthier planet, starting in Digital!”)
Building footprint includes new head office in downtown Toronto is being built to LEED Platinum certification (when complete, it will feature numerous unique features, from combined rainwater and groundwater systems to green roofs to enhanced digital workspaces), green power purchasing program through Bullfrog Power (over 2,600 MWh), currently over 12% of the bank's building footprint is LEED-certified (varying)
Extended recycling refurbished office furniture, e-waste, batteries
Commuter amenities walk to public transit, secure/sheltered bicycle parking
Community partnerships TransCanada Trail, Grand River Conservation, Evergreen Foundation, Nature Conservancy Canada, World Wildlife Fund, Canada Green Building Council, Earth Hour, Earth Day, Waste Reduction Week, The Great Canadian Shoreline Clean-up, National Sweater Day, Bike to Work Week, Canada Green Building Council, Friends of Algonquin Park

The Career Directory

CIBC has been selected for The Career Directory, our guide to entry-level recruitment for recent college and university graduates.
CIBC employee during the bank's 35th anniversary of Miracle Day

Highlights for New Grads

Industry Banking
Full-time employees in Canada 25,000 to 50,000
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
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 depending on position (from $40K to over $85K).
Typical new grad positions Analyst, Associate
Work benefits health benefits for new employees, flexible work hours, telecommuting, employees receive paid time off to volunteer
Vacation allowance new employees receive 3 weeks of paid vacation after their first year on the job

Academic fields recruited

Recruits at these schools


Search all jobs from CIBC Live search powered by Eluta.ca