Munich Re Reviews

Updated July 13, 2015
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3.0
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Munich Re Chairman, Board of Management Nikolaus von Bomhard
Nikolaus von Bomhard
3 Ratings

13 Employee Reviews

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  1. Inhouse

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

    I have been working at Munich Re full-time

    Recommends
    Positive Outlook
    Recommends
    Positive Outlook

    Pros

    Great benefits, great office location. The company also has a decent variety of companies within it's group, so if you get bored there is potential to jump around.

    Cons

    All major decisions seem to have to be confirmed by the European masters, which can stifle flexibility. Fairly strict on the pay scales as well...


  2. Actuarial Intern

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

    I worked at Munich Re as an intern

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

    Pros

    Relatively strong actuarial team that helps you learn. Good company culture. Good work life balance.

    Cons

    Very bad HR department. They will ask you not to apply to other companies for full time under the treat of taking back their offer. Compensation is poor relative to peers.

    Advice to Management

    None. The company as a whole is on good track.


  3. bureaucratic place with stable paychecks

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

    I have been working at Munich Re full-time (More than 5 years)

    Recommends
    Neutral Outlook
    No opinion of CEO
    Recommends
    Neutral Outlook
    No opinion of CEO

    Pros

    stable and friendly environment plenty of training opportunities generally work and life balance (flexible working hours is promoted in some areas in recent years)

    Cons

    bureaucratic management team slow to adapt to market changes networking is overrated...personal growth depends on who you know not how much you know about the job

    Advice to Management

    senior management team should build more effective channel to hear more from the bottom, not just from your managers.


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  5. micro manage, low salary, high stress

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

    I worked at Munich Re

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

    Pros

    good health benefits for employees

    Cons

    seems the admin department hires uneducated people who just grow with the company and make it hard to fire them. They have no idea what is going on and rely on the younger newbies to figure it out... of course the younger employees keep leaving within months.

    Advice to Management

    promote the hard working not the lazy staff that has been there forever.


  6. If you're a salaried employee level, they have a lot to offer.

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Wasnt the Job for Me I'm An Exempt Employee in King of Prussia, PA
    Former Employee - Wasnt the Job for Me I'm An Exempt Employee in King of Prussia, PA

    I worked at Munich Re full-time (More than a year)

    Doesn't Recommend
    Approves of CEO
    Doesn't Recommend
    Approves of CEO

    Pros

    Fair compensation. Market prominence and security. College reimbursement. Recognizes most holidays. Modern office environment. Current business software applications. Office locations close to major highways and high value realestate.

    Cons

    Non-exempt levels have unreasonable requirements and subjective management. No cafeteria for health concious people. Under one hour lunch. No professional incentives for non-exempt employees.

    Advice to Management

    Restructure call center support center and offer options based on education, performance, business experience rather than personal problems priority. And change job changes from one year to six months.


  7. Hard work doesn't pay

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Underwriter in Chicago, IL
    Former Employee - Underwriter in Chicago, IL

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

    Doesn't Recommend
    Disapproves of CEO
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Used to be a good company before management changed

    Cons

    You need to have the right connections to move up, hard work doesn't pay off

    Advice to Management

    Respect your people, they are more than just another number on the bottom line


  8. Good benefits but not good place for cutting edge analytics

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Actuarial Consultant in Princeton, NJ
    Former Employee - Actuarial Consultant in Princeton, NJ

    I worked at Munich Re full-time (More than 3 years)

    Neutral Outlook
    No opinion of CEO
    Neutral Outlook
    No opinion of CEO

    Pros

    The company offers above avergae benefits, good work place. The work pace can be hectic but generally there is not too much pressure.

    Cons

    The company does not promote creative thinking. Different departments are held to different standards in terms of work quality. No desire to change the status quo with outdated analytics.

    Advice to Management

    Promote a creative working environment where people can think out of the box. Do not fear change for the better.


  9. Great company, but a terrible department.

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

    I have been working at Munich Re full-time

    Positive Outlook
    Approves of CEO
    Positive Outlook
    Approves of CEO

    Pros

    Great benefits, flexible hours, encouraged to take development courses.

    Cons

    Lack of opportunities, pigeon-holed into your department, difficult to switch jobs to a higher paying position that you are qualified for.

    Advice to Management

    Develop and utilize your talent. You have employees rotting in dead end positions that have Master's degrees performing a job that requires only a high school education.


  10. Has been a good company, not anymore

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

    I worked at Munich Re as a contractor (More than 8 years)

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

    Pros

    Management is great and good employee benefit.

    Cons

    less chance to become an employee


  11. Helpful (1)

    a good place to work

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

    I have been working at Munich Re full-time (More than 5 years)

    Recommends
    Neutral Outlook
    No opinion of CEO
    Recommends
    Neutral Outlook
    No opinion of CEO

    Pros

    good diversity, multi-cultural, very Canadian. Cherish people.

    Cons

    Slow to adapt to new IT technology , undergoing lots of changes.

    Advice to Management

    don't forgot your people while reorganizing management.



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