Pros
- Office Location - Lots of good staff hired from other banks - Japanese culture is at least respectful of staff at all seniority levels - Somehow still turns a profit, but the accuracy of the financial reporting in my experience is highly dubious
Cons
- MUFG has absolutely no clue how to run a global bank, and honestly is not taken very seriously by other major banks in the market. It is a stain on your CV, and if you are coming from a Tier 1 bank you may struggle to get interviews if you decide to leave. - No coherent strategy whatsoever (just look at the share price performance over the last 5 years compared with any other major bank) - 2 tier quasi-racist system. If you are not Japanese, you will literally be called a "Non-Japanese" staff member in official communication. All Japanese ex-pat staff (anywhere from 10-100% of any given department) are on completely different employment contracts to local hires (despite doing the same job), and only Japanese managers have any control over them. I once saw an email showing the results of an internal survey, split between Japanese and Non-Japanese staff outcomes - can you imagine if RBS reported outputs of English and Non-English or White and Non-White staff? Somehow this is considered acceptable. - Complete and utterly institutionalised resistance to change. The intranet right now sums it up, the main article says "now is the time for change" with an image of the 4 top MUFG executives, all Japanese, all men, all the same age, all wearing the same suit and tie. I could not understand a word of what was written in that article. Change is actively resisted on a daily basis by Japanese staff from graduate to CEO level. - Extremely inefficient. Face-time culture. Junior Japanese staff work until midnight every night but are producing nothing of substance. - Extreme box-ticking compliance culture. Everyone must always comply with all policies & procedures at all times. Nobody ever questions or improves the policies, they just must be complied with. - The local staff who have been in the bank over 10 years are either corrupted manipulators of the system (for seniority/financial gain), or have had their will broken and just drag themselves into work each day.