MassMutual Reviews

Updated August 28, 2015
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MassMutual Chairman, President, and CEO Roger W. Crandall
Roger W. Crandall
23 Ratings

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

  • Good Benefits (tuition assistance) and amenities on site (in 8 reviews)

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

  • No base salary, completely commisisons (in 9 reviews)

More Pros and Cons

61 Employee Reviews

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  1. Helpful (4)

    Old Irish Boy's Club

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Systems Analyst in Springfield, MA
    Current Employee - Systems Analyst in Springfield, MA
    No opinion of CEO

    Pros

    MassMutual has one of the best benefits package in the Fortune 100 group. Tuition reimbursement is upto $8500 if you are in an accelerated degree program, or $5000 otherwise. There is no management or HR approval needed for undertaking any study. The pay is also above-average in most job categories. Being a mutual company, they are rather stable and do not indulge in haphazard reorgs. The work culture varies by the functional area, but if you are in IT expect to work long hours. The place if full of people who have worked here for 20-30 years and if you are even just mediocre, you can easily survive here if you don't piss off the people who matter.

    Cons

    This place is a complete bureaucratic mad house. There is red tape everywhere you go and the culture is ultra-conservative. Watch every word that you speak in the first few years as things get political very easily. There are strong cliques of workers who have been around for more years than you may have lived and most of them are just lazy parasites who collect their paychecks every two weeks and are waiting for retirement day. The opportunities for career advancement are slim to none unless ingratiation is a part of your skillset and you can handle the disgust of brown-nosing the big cheese everyday. Not saying this with any prejudice, but if you are Irish Catholic, you will do well very well here. If you a person of color or a foreigner, expect the looks though on the face people will be polite.

    Advice to Management

    Need to revamp the fundamental firm culture and change the outlook towards employees. The performance appraisal system is a sham, with forced distribution across the board. Just talking about meritocracy is no good. The truth is that the firm values seniority and those who have put in their time are tolerated even if they are slackers of the first order. The middle management also needs to be trimmed. There are more mid-level managers here than bees in a honey comb and the good majority of them do not add any value.


  2. Helpful (2)

    Be prepared to make little to nothing at Mass Mutual

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Services Professional in San Francisco, CA
    Current Employee - Financial Services Professional in San Francisco, CA
    Doesn't Recommend
    No opinion of CEO

    Pros

    Unlimited Pay potential, little supervision, daily freedom

    Cons

    No set pay, culture of people using one another to get what they need, little care about the person and all about the numbers, poor leadership

    Advice to Management

    The system is broken, nurture new agents, assist more in building the base


  3. Helpful (3)

    Be Very Careful...

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Services Professional in New York, NY
    Former Employee - Financial Services Professional in New York, NY
    Doesn't Recommend
    No opinion of CEO

    Pros

    MassMutual is a good, solid company with a great balance sheet. Smaller company but things get done fairly quickly. Good senior management team. This has absolutely nothing to do with your experience as a representative or manager...this is all predicated on which General Agent you are affiliated with. My comments are based on my experience. It's different depending on which GA you work for. In this regard, MassMutual is little more than a product manufacturer.

    Cons

    You work for General Agents (GA's), who control your comp at "GA discretion". You'll hear this term a lot. They can change the rules whenever it suits them. I've seen this happen with reps and managers. The bonuses (known as financing) are described as a given in the interview process, but in reality can be denied or taken away at any time for any reason. The rules can be punitive in nature. Ask for the financing plan in writing. You probably won't get it. Weak product line and compensation model that makes it very difficult to earn at a high level. Company and GA's are only interested in reps selling whole life insurance. They are fanatical about this. MassMutual has abandoned the annuity business completely. Some GA's will discourage new reps from becoming securities licensed in order to force more whole life sales. In my experience, there is no support other than good initial training. You will never get a lead and you will never see one cent spent on marketing. Management stays in the office and will not help generate activity. The offices were disgusting and dirty and are indicative of how management views the reps...as a necessary evil. There are other companies with more predictable comp plans and better product lines that will allow you a better chance in a difficult career. YOUR EXPERIENCE WILL VARY WITH DIFFERENT GA'S. I recommend interviewing with all GA's in your area...there are likely to be many (7 in the NY area).

    Advice to Management

    The GA model is not effective. Personally I advise anyone against working within ANY General Agent model.


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  5. Helpful (1)

    Used to be a great place to work

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Systems Specialist in Springfield, MA
    Current Employee - Systems Specialist in Springfield, MA
    Disapproves of CEO

    Pros

    Short commute to work, nice campus, and free parking. Used to have great benefits until they switched all employee health insurance plans to one high deductible plan with a $2500/$5000 deductible.

    Cons

    MassMutual used to be a great place to work with great benefits. Unfortunately things changed over the past few years. Current CEO is a number guy and doesn't appreciate the value of IT. CIO is taking IT down the drain with more layoffs and outsourcing. IT employee morale is at an all time low.

    Advice to Management

    Listen to employees. You can't cut your way to prosperity. Invest in IT and IT employees.


  6. MassMutual is will help those willing to take the wheel with their own careers, perfect for the go-getters

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Services Representative in San Francisco, CA
    Former Employee - Financial Services Representative in San Francisco, CA
    Doesn't Recommend
    No opinion of CEO

    Pros

    Helps one develops immense self motivation due to the high pressure nature of the business. Encourages professional networking. Will help hone communication and influencing skills.

    Cons

    Management should spend more 1 on 1 time on teaching representatives concepts in financial planning, placing less emphasis in the process of making the sale to keep employee satisfaction high.

    Advice to Management

    Develop stronger relationships with your reps even with the high turnover rate. Put into place advisor training programs that are more in depth and less surface level. This may help motivate more advisors to stay in the industry with this company.


  7. Helpful (1)

    The Financial Advisor title/position is misleading.

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in New York, NY
    Former Employee - Financial Advisor in New York, NY
    Doesn't Recommend
    No opinion of CEO

    Pros

    Is a commission only sales position so you do enjoy the benefits associated with a position like this. --Make your own schedule --Little involvement from Management --If you sell, your income potential is unlimited

    Cons

    The entire industry tries to disguise the true nature of the position. You are there for one reason, that reason is to sell life insurance policies. Yet, that's never said in any of your interviews, you are told you are there to "help" clients, you are able to sell many products, and so on. While there is some true to those things. Your primary and secondary responsibility is to sell life insurance policies. If you sell, your experience will be awesome. If you do not, not so much.

    Advice to Management

    Be honest with your recruits and your retention rate will increase. Less of them will be disappointed once they get started.


  8. OK.

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Enfield, CT
    Current Employee - Anonymous Employee in Enfield, CT
    Doesn't Recommend
    Approves of CEO

    Pros

    Financially strong company. More job security

    Cons

    No career growth opportunities or advancement

    Advice to Management

    Provide way of giving anonymous feedback to management. Some groups exist in fear. In some cases, post-engagement survey action only worsened morale because senior management not interested in really engaging. It's all about the "show".


  9. difficult

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Services Professional in Farmington, CT
    Current Employee - Financial Services Professional in Farmington, CT
    Doesn't Recommend
    No opinion of CEO

    Pros

    The senior members are very knowledgeable and willing to help you advance in your career in sales, and some of the products are the best in the industry

    Cons

    -They expect you to start by selling to your family and friends, and don't provide you with any leads - very difficult if you don't have a good network and just got out of school, even though they assure you that you can succeed if you want - all commissions: No salary, No guarantees.

    Advice to Management

    don't hire people right out of school; they are set up to fail. Help new employees find clients and take them on appointments with you


  10. Helpful (1)

    Limited growth opportunities

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Springfield, MA
    Former Employee - Anonymous Employee in Springfield, MA
    Disapproves of CEO

    Pros

    Salary is ok, people are supportive of each other.

    Cons

    Limited career growth, very slow pace. People don't want to exceed expectations here, the status quo rules the day.

    Advice to Management

    focus on career pathing.


  11. Used to be a good company to work for...

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

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

    Pros

    Vacation time, 401(K)/Pension plan. Easy access, gym

    Cons

    After initial re-org (forgot what they called it -something about "excellence" when top down layoffs started, upper level mgrs were put in roles they were not suited for nor did they take the time to understand. The messsage our area heard was basically- be happy you have a job, and you are all replaceable. This was a company I was in for over 15 years and the plan was to do in daily, do a great job, give 100%+ all the time, and then retire. Well, if you were not the "bosses buddy" that did not happen. Nice company to start with, ended up not a nice company. Focus was only on the bottom dollar.

    Advice to Management

    Talent comes in many shapes and forms. Be sure to keep your minds open to understand them, and your eyes open to see them. Reaching the better bottom dollar comes in many ways. Understand that.



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