MassMutual

www.massmutual.com
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MassMutual Reviews

Updated 28 February 2015
Updated 28 February 2015
50 Reviews
1.0
50 Reviews
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MassMutual Chairman, President, and CEO Roger W. Crandall
Roger W. Crandall
50 Ratings

Review Highlights

Pros
  • Rewarding work environment with the flexibility to take on additional responsibilities to build skills (in 13 reviews)

  • Great Benefits along with exam reimbursements if you are in the Actuarial Student Program (in 9 reviews)


Cons
  • No base salary and only sales commissions (in 18 reviews)

  • No base salary, you only get a subsidy on the business you submit (in 9 reviews)

More Highlights

50 Employee Reviews Back to all Reviews

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  1.  

    Financial Services agent

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at MassMutual (more than 3 years)

    Pros

    Some commissions are good and renewals can build up

    Cons

    Training is terrible and support from Home Office doesn't exist. The longer you stay the more difficult it becomes for you to make the quotas. Seems they want to get you to enroll family members and clients, then they dump you so they no longer have to pay you the renewals. It goes with meager benefits they offer and expect you to pay for. You having so much money the company could easily be a little generous to its field agents who are bringing in the business.

    Advice to ManagementAdvice

    Share the wealth. Seems home office lives in a tower looking down on the workers.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2.  

    Agent

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Contractor - Agent in Jacksonville, FL (US)
    Former Contractor - Agent in Jacksonville, FL (US)

    I worked at MassMutual as a contractor (more than 3 years)

    Pros

    Make your own schedule and if you sell enough you can get some travel perks

    Cons

    The agency system is outdated. They charge employees rent and for various costs, like copying and letterhead. The old system makes it difficult to get a business started, because the agencies take a cut of your income. The agencies are always looking for the next newcomer to make them some money. They quickly forget about the person who did well, but has a slow down in business. They terminate you quickly if you are not producing more and more sales.

    Advice to ManagementAdvice

    Management doesn't listen in the company. They point the finger at other employees when something comes into question. No one takes responsibility for actions to the field agents.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  3.  

    A very unrealistic picture they paint to get you to join the team

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Contractor - Financial Sales Representative in Fort Lauderdale, FL (US)
    Former Contractor - Financial Sales Representative in Fort Lauderdale, FL (US)

    I worked at MassMutual as a contractor (more than a year)

    Pros

    I really must say all the people I worked with were great. I had very good relationships with everyone. Outstanding training by Rik and the 2 Jason's.

    Cons

    Many charges to work there. $129 per month office space $140. per month E&O Insurance ( if not securities licensed this insurance is $50 per month, but they charge you anyway.) Very unorganized. As a typical sales environment they make the best sales people managers. These " Managers are not qualified to be managers even though they are great at sales. Also, the managers are very young and don't have enough training or life experience to be managers. Wonderful people, but miscast as managers. In addition, they say they are there to help you, but they hire so many people they get overwhelmed trying to help each one and eventually just worry about their own business. They blow through people at an unbelievable rate. Expect to put up with unpaid mandatory training, running your car in to the ground and going in to deep debt. They'll tell you they have a great success rate. Please don't believe it. About 10% are successful. They tell you you have "The Opportunity" to make 70-80K your first year. Good luck if you can make 20K unless you are already experienced.

    Advice to ManagementAdvice

    Have real managers that don't rely on sales anymore to work with and develop new recruits. I know you are all sales people, but please be more honest and upfront about the realities and suffering one must go through before you can be successful. Also, be honest about the very low success rate of the industry.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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  5. 1 person found this helpful  

    An old system insurance company

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Registered Representative
    Current Employee - Registered Representative

    I have been working at MassMutual (more than 3 years)

    Pros

    It's a big company that offers perks when you reach high sales volumes. Perks include conferences and training with expenses paid. There are some good, high-end insurance products.

    Cons

    The company is set up like a pyramid sales company that has agencies all over the place. Each agency is run by one general agent. Agencies run through field agents and staff people faster than donuts leaving a donut shop. I've stopped learning people's names because few people lasted long enough to remember. That includes management.

    The personal benefits package is minimal, especially the insurance coverage considering this is an insurance company. You are expected to pay for benefits and most things, like licensing and office space, if you don't hit high sales every year. Some agencies charge for office supplies etc...whatever they can get away with charging. It makes it difficult for people to start and establish themselves--there are few exceptions.

    Home office is separate, but they handle all of the paperwork. They often make problems with your client relationships, i.e. mishandling billing, yet the home office people take no responsibility for their errors. It all falls on the field agents which can interfere with building client's trust. Again, making it difficult to establish themselves. Another reason few agents make it beyond the start.

    Advice to ManagementAdvice

    Though you guys at the top are making lots of money and flying around in private helicopters, the agency system is outdated. It seems you don't care about your field agents unless they are making you a ton of money. This philosophy doesn't create a healthy work environment.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  6.  

    Pass on MassMutual

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Rinancial Advisor
    Former Employee - Rinancial Advisor

    I worked at MassMutual

    Pros

    They are expert at self promotion and manipulating the media..

    Cons

    You cannot believe anything the management promises or says. In regard to their securities brokerage subsidiary, MMLIS, LLC., they continually violate FINRA rules and SEC laws. Most of their people have no idea what they are doing. You can get at least three answers to any question regarding policy and procedures.

    Advice to ManagementAdvice

    Sell the MMLIS, LLC subsidiary to a broker-dealer who knows what they are doing. Start living up to your advertising

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7. 1 person found this helpful  

    Financial services professional

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Services Representative in Charlotte, NC (US)
    Former Employee - Financial Services Representative in Charlotte, NC (US)

    I worked at MassMutual full-time (more than a year)

    Pros

    There is a bit of freedom with the position and allow you to find your niche. Unlimited income potential and unlimited commission.

    Cons

    Well, granted you can find your own niche. But how the hell do you find that niche. The amount of knowledge to get started is very difficult. Sell your project 200 and hope they buy. Bad that no real support except training is all the same ole whole life this, deferred income annuity that, and disability. Hope you don't have any blue collar clients because they won't get approved. Many many unfulfilled, empty promises. When I asked about those I was asked what I received in writing. Stupid of me for taking the GA's word on how he is willing to help.

    Consider yourself warned.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  8. 1 person found this helpful  

    Do not become a "financial adviser" - you're just pushing life insurance

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Services Representative in Raleigh, NC (US)
    Former Employee - Financial Services Representative in Raleigh, NC (US)

    I worked at MassMutual full-time (less than a year)

    Pros

    It only COSTS YOU (MONEY OUT OF YOUR POCKET) a couple hundred dollars to become licensed to sell life insurance in North Carolina. Couple thousand if you want to sell annuities. Luckily, you don't have to worry about where you'll be depositing your payroll checks from working at the company, because you won't be receiving any until you sell a certain amount of product and "qualify" to become "part of the team".

    Cons

    You have to find your own "customers" which will be people that you sell products to. Once those customers lock into a product, the company receives a stream of cash, from which you receive a percentage, provided that you are in "good standing" meaning that you've sold enough product recently.

    Advice to ManagementAdvice

    Don't be such self-centered arrogant jerks that brag about your success selling product to people and the money that you've made by doing so.... especially when you can't bring new "employees" into a meeting with one of your own customers to show your slick talking ways. Of course, you're VERY quick to leech onto any potential sales leads that a new employee may bring... like a blood thirsty shark that hasn't eaten in weeks. By the way, thanks for stealing my commissions on those deals by "accidentally" deleting me off of the paperwork.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  9. 1 person found this helpful  

    Financial Services Professional

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Services Professional in Syracuse, NY (US)
    Current Employee - Financial Services Professional in Syracuse, NY (US)

    I have been working at MassMutual full-time (more than 5 years)

    Pros

    Unlimited earning potential and flexibility

    Cons

    No salary or draw, no marketing, no leads, no support, no training

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  10. 5 people found this helpful  

    Lies, lies, and more non-truths.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Advisor
    Former Employee - Financial Advisor

    I worked at MassMutual full-time (less than a year)

    Pros

    Nothing. I would not recommend their financial advisor program to anyone.

    Cons

    Big promises, they inflate your self of sense-worth. They will make you feel good and tell you that you can get the perfect work-life balance as a financial advisor; they are going to mentor you and help you make six figures. Oh and it gets better too.... they typically prey on just graduated college students who have very few job prospects and are desperate/hard-working. They want to put their efforts somewhere but do not know where.

    I got sucked into the whole "be a financial advisor" scam from Mass Mutual about March 2013 of last year. I formerly was in auto sales, and education. I was looking to try something new and was referred by my wife to one of her friends who worked for the company. He interviewed me four times saying I gotta make sure this is for you, blah blah blah blah. In hindsight I should have known he was one of the worst snake-oil salesman I have ever met; but it was my wife's friend.

    They will sponsor you for your life, health, and series 6/63. But everything else you pay for. These fees and study materials can average around 1k or more dollars overall. Pretty hard for a recent college student who now averages 80k+ in student loan debt. The hardest and most discouraging part of this job is after they build you up so much, encourage you strongly to get your licenses.... once you get all that stuff the question than becomes: "now what?"

    The leads are not provided. So you are expected to go seek out your friends and family to sell life insurance, financial products, and accident/health products as well. This can get pretty awkward as although you might find these parties initially wanting to help you; when you mix business and family/friends together or any type of monetary transaction it can sour things. Mass Mutual doesn't care though. They want numbers and look at you as their new pack mule to sell their products.

    You do not get paid any kind of weekly compensation so you better produce. Without a lead network to tap into, and be expected to canvass your own network or outside of it to sell you better live at home with Mom or Dad or be on section 8/welfare. Because believe me it can get expensive working for this company. I was probably about 4-5 grand when it was all said and done. They do not help you despite how much your general agent will claim they do.

    Advice to ManagementAdvice

    The company is very well respected and your products are highly rated. Treat your new financial advisors like any other investment as you are a business. Nurture their talents, pay them some kind of stipend, and get rid of the counterproductive pay structure system where one's financial advisor's general agent gets paid on his own deals/can work on the field. What incentive is your general agent/supervisor going to have to nurture new talent if he can get paid on his work?

    Completely overhaul your financial advisor program and invest more into your new employees. You are angering and causing disaffection with potentially dynamic, new, and young talent that could revitalize your company. Your loss though and you do not seem to care about it with the way you conduct business.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  11.  

    Been there, done that

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Consultant
    Current Employee - Consultant

    I have been working at MassMutual full-time

    Pros

    There are really no pros that are good enough to mention.

    Cons

    It is behind the times
    Why have four of the same software when one could do - is anyone thinking of the expense?
    Management is overtly good old boys club and ignore their underlings
    What is with all the meetings?

    Advice to ManagementAdvice

    Rid yourselves of 3 layers of management
    MMWay is for the business not IT
    RSVP needs to move it or lose it

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

MassMutual Photos

MassMutual Headquarters
MassMutual Convention Center (Photo thanks to Flickr user informationgoddess29, available under by-nc-sa v2.0)
MassMutual Tokyo (Photo thanks to Flickr user teikan, available under by-nc-nd v2.0)

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