Manulife Financial Reviews

Updated March 18, 2015
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Manulife Financial President and CEO Donald Guloien
Donald Guloien
12 Ratings

39 Employee Reviews

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  1. Ok, but not the right culture for change

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

    I worked at Manulife Financial full-time (More than 3 years)

    Recommends
    Negative Outlook
    Disapproves of CEO
    Recommends
    Negative Outlook
    Disapproves of CEO

    Pros

    Experience, Top FI and Insurance companies, Global exposure, structure and leadership training,.

    Cons

    Bad culture, and out of touch with reality

    Advice to Management

    Focus on newer technology rather than old school hustling of high net worth clientele. Money spent on your "agents" who sit around doing nothing can be better spent on newer tech and social marketing. Move away from the stone age.

  2. Helpful (1)

    At Head Office in Toronto - It all depends...

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Middle Management in Toronto, ON (Canada)
    Former Employee - Middle Management in Toronto, ON (Canada)

    I worked at Manulife Financial full-time (More than 10 years)

    Doesn't Recommend
    Neutral Outlook
    Doesn't Recommend
    Neutral Outlook

    Pros

    Some extremely bright people work here. The work can be very interesting and there are lots of opportunities to learn. The head offices are very pleasant.

    Cons

    It varies widely by department, but in some, there is a very definite glass ceiling for women.
    The culture is extremely highly political - often to the detriment of getting some things accomplished in the best way.
    The company has a tendency to burn people out, and then discard them (literally or figuratively). No work/life balance allowed if you want to get ahead.
    A significant number of people "hide" to try not to draw too much attention to themselves. Not a nurturing culture at all - more dog-eat-dog type of culture.
    Too many meetings which rarely start or end on time !!!

    Advice to Management

    Cut back on the politics and the meetings.
    Stop burying unpleasant things under the carpet - solve them like we used to 15 years ago !!!
    Don't set people up to fail, and don't expect them to work 24/7.
    Reward and encourage people who excel, and don't play favourites.
    Make it fun and challenging to go to work again.
    And please, please, post all internally available positions rather than giving them to your favourites !!!

  3. Slow paced lifeco.

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

    I have been working at Manulife Financial

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    Pros

    Work life balance is great, typically 9-5 with occasional variability depending on deal flow

    Cons

    Do not invest heavily in training for employee growth. Compensation is not comparable to other FIs.

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  5. Worst culture and management staff.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Advisor in Toronto, ON (Canada)
    Former Employee - Advisor in Toronto, ON (Canada)

    I worked at Manulife Financial full-time (More than 8 years)

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

    Pros

    Stable company and profitable company.

    Cons

    Worst middle managers! They are not well educated especially when it comes to insurance licensing. No insurance background at all.

    Advice to Management

    Invest more on your management and when hiring make sure they are qualified and knowledgeable to train the sales people.

  6. Terrible Management and support for staff

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Manulife Financial

    Pros

    Good benefits and some great people that can make the experience better. Big company with a lot of different areas to move to in finance.

    Cons

    'Just do what was done last year' mentality and some management avoid answering questions this way because they don't know the answers to questions. Top Management is a boys club. Middle managers aren't supportive of staff and only look out for themselves.

    Advice to Management

    Start taking care of your employees and get rid of the middle management that have no education and have been in the role for 20 years. Not encouraging to staff to move up when managers never leave because they have no education and paid so well. Provide more communication to staff from a higher level so people feel informed and are kept in the loop.

  7. Helpful (2)

    A bittersweet experience

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Applications Developer in Kitchener, ON (Canada)
    Current Employee - Applications Developer in Kitchener, ON (Canada)

    I have been working at Manulife Financial full-time (More than 3 years)

    Pros

    - Benefits are good
    - You need to negotiate the base salary before you start...after you start you get 1% increases per year (unless you earn really low they you get 3% or 4%)
    - Bonus is good
    - Overtime is paid (trust me you WANT to charge them for your time, don't work for free)

    Cons

    - They don't care about your advancement (At least in Group Benefits now IS). As a developer, they don't care about you being a senior developer, a team lead, or a consultant. All they need is to fill a need and that's what they use you for. If you accept a position in IS, forget about moving up. I saw developers that have been senior developers for 15 years and they were never promoted to managers, leads, or anything.

    - You need to do on-call for at least 20 years, and the only way to get out is being in the rotation for 20 years. The rotation is horrible you may be looking at 37.5 working hours, and 40 overtime hours. It doesn't matter that they pay you for it, at times you just want to sleep, you don't care about more money. Your family suffers this as they will hear the phone and barely sleep.

    - If you get into the projects don't trust anybody as there is a lot of politics going on. The managers will send "people" to mentor you but they are really using them to know what you think of them. Very sneaky.

    - They merge ALL of the time. When they "merge" they get rid of people.

  8. Helpful (2)

    Was a nice place to work until...

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Manulife Financial (More than 10 years)

    Doesn't Recommend
    Neutral Outlook
    Doesn't Recommend
    Neutral Outlook

    Pros

    Decent benefits and stock options.

    Cons

    If you want to do the right thing this is not the place to work. Once the company went public it was all about the bottom dollar. Employees became just a number.

  9. Helpful (2)

    Dysfunctional work environment

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

    I worked at Manulife Financial full-time (More than 3 years)

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    Pros

    Pays well as do most FIs

    Cons

    Dysfunctional environment. Non-effective, micro-managing, inexperienced leaders who focus on the "weeds" rather than operating strategically. Too many middle managers operating at levels below their job descriptions. Employees have almost no autonomy as inexperienced managers do not feel comfortable with delegation.

    A lot of overtime with little work/life balance. There is a "workplace transformation" initiative to get people to work from home. However, most managers are opposed to it and while they pay lip service to the concept (for the benefit of senior management), they stonewall any real effort to make this initiative work.

    Advice to Management

    Flatten the organization by removing middle managers focused on the "weeds". Empower people and let them prove themselves - give them autonomy to do their jobs well.

  10. Okay Experience

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Manulife Financial

    Pros

    Strong leadership from the top

    Cons

    Not very strong leadership at the AVP level

  11. Good place to start career

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Analyst Programmer in Kuala Lumpur (Malaysia)
    Current Employee - Analyst Programmer in Kuala Lumpur (Malaysia)

    I have been working at Manulife Financial full-time (More than a year)

    Doesn't Recommend
    Positive Outlook
    Doesn't Recommend
    Positive Outlook

    Pros

    Friendly and helpful colleagues. They are always willing to share their business knowledge to new comer

    Cons

    slow career growth, compensation is below market. Stingy Internet connection as job searching website, they are blocking all!

    Advice to Management

    Good job in recent year, revenue is growing up in 2013..hope it keep growing..

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