First Insurance Funding
1.2 of 5 4 reviews
www.firstinsurancefunding.com Northbrook, IL 150 to 499 Employees

First Insurance Funding Reviews

Updated Mar 4, 2014

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1.2 4 reviews

                             

33% Approve of the CEO

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Frank J. Burke

(3 ratings)

4 Employee Reviews
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5 people found this helpful  

Desperatley looking to get out!

Account Executive (Current Employee)
Northbrook, IL

I have been working at First Insurance Funding

Pros- Work to life balance is great, you don't have to worry about taking your work home with you.
- Benefits are very good/affordable.
- Casual environment except on board meeting days.
- Co workers are great, always willing to help out.
- Annual cookouts and Barbecues for employees.
- CEO and VP are great guys, they always smile and say hello when you pass them in the hall, they are very approachable.

Cons- Zero room for advancement unless you complain enough to the point that they give you some meaningless title just to appease you. (Not real advancement in my opinion.)
- They pay is very poor.
- Yearend bonus was a joke, not even enough to go out for a nice dinner.
- Yearly raise are insulting.
- An asinine amount of “middle management” that for the most part are incompetent control freaks.
- Certain people get away with just about anything while others are put under a microscope.
- You are given 5 sick/personal days a year, if you take one they make you feel guilty and you cannot sell any unused days back to the company at the end of the year.
- Most employees are doing the work of 2 people. The company is on a hiring freeze so when someone quits that persons responsibilities are thrown on someone else’s lap without any discussion or increased compensation. This happened to me and trust me, it’s not fun.
- One specific person in “middle management” talks to you like you’re a child, is very condescending, and extremely arrogant.
- The worst part of my day is when I pull into the parking lot.

Advice to Senior ManagementUpper management really needs to reexamine who they are promoting and putting in charge, there are a lot of incredibly talented people that they are in jeopardy of losing to another company because they’d rather promote the people who whine and moan about it rather than promoting based on merit. I know the economy is down but the pay is so far below other similar positions at other companies. Better compensation and yearend bonuses need to be improved, I have heard many great employees talk about leaving for that very reason.

No, I would not recommend this company to a friend

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worst job I have ever had

Anonymous Employee (Current Employee)

I have been working at First Insurance Funding full-time for more than a year

Pros401K profit sharing company match

ConsManagement by intimidation, supervisor did not have time to meet with me regarding my annual review

– I'm not optimistic about the outlook for this company

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2 people found this helpful  

Not looking too good for FIF

Anonymous Employee (Former Employee)

I worked at First Insurance Funding

ProsBenefits are good, dress code is casual, you get one picnic a year.

ConsDuring the brunt of the recession, when the job market was at its bleakest, First took advantage (in my opinion, abused) the situation by paying employees well below market value. Along with the well below market value pay, management created a culture in which the employee is; expendable, replaceable, and essentially valueless should the company decided to part ways with you. The notion that management could just slide a new hire in to pick up where you left off, regardless of how long you have been there, has been made clear through both direct and indirect communication. This mantra is well known and I, as well as many others, overheard or were made to feel this way on numerous occasions. To be fair, some in management are far more vociferous in their feelings about this than others, but this certainly doesn’t excuse the ones who don’t from stepping in and reporting it to senior level officers.

Now that the job market is rapidly picking up the staff, both long and short tenured associates, are bailing out of that place faster than rats on a sinking ship. First has nobody to blame but themselves as they sit there and scratch their heads, wondering why the sudden and abrupt turnover is occurring. I’d say that it’s time to seriously reevaluate how you compensate people when each week, it seems like that anyway, you perpetually stand there and watch as employees leave for new companies that are paying them substantially more…you offer zero incentive to stay.

Certain individuals have been placed in management positions that quite frankly; have absolutely no business whatsoever managing people. One manager in particular, has lost almost her entire staff because her management style has been deemed “unbearable” to work under. One of the other reviews on here echoes these very issues and concerns; no employee should be treated with a condescending tone let alone talked to like a child. This issue, which has been raised by multiple employees in closed door management meetings and exit interviews, has evidently yet to be addressed. The failure on the behalf of senior management to address and reprimand this person over the numerous complaints is both utterly inexcusable and incredibly disappointing.

Promotions often go to those that tend “befriend” or become their manager’s “lackey.” There
are many overqualified people that get passed up on promotions or otherwise new opportunities because they aren’t the type that decorate their manager’s office or cubicle when it’s their birthday. This may sound a bit childish to someone from the outside reading this, but rest assured, anyone who works or has worked here knows precisely what I am talking about.

The different departments all push back and fight with one another. I don’t think that this has to do with departments necessarily not wanting to help one another, it rather stems from not wanting to increase ones workload given such low salaries.

Not to beat the salary issue into the ground, there seems to be a running theme with the other reviews but….Yearly raises don’t even offset cost of living increases for the overwhelming majority of associates (We all talk and compare). Bonuses, if you were lucky enough to get one, weren’t anything more than a few hundred bucks for most. Considering the above, it’s safe to say that company moral is rather low with little to no incentive to work harder and increase productivity.

The company now makes you take 9 consecutive vacation days off for auditing purposes (the 9 days do include the weekend before and the weekend after to be fair). However this makes it incredibly hard to and inconvenient to plan time off with the family, friends, etc. Being forced to burn roughly half of your vacation days in a row is a bit absurd.

In a nutshell, if you want a job in which you are both undervalued and underpaid then First Insurance Funding is right up your wazoo.

Advice to Senior ManagementHold middle management accountable when employees bring concerns and complaints about how someone in your organization is treating others.

You are going to have to make a decision. Either hire optimal candidates at higher salaries or hire less qualified people who lack ambition, and continue to pay them what you pay now.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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3 people found this helpful  

Looking For A Way Out

Anonymous Employee (Current Employee)
Northbrook, IL

I have been working at First Insurance Funding full-time for more than 8 years

Pros-I work with some nice people.
-Job is easy being not much is expected from me.
-promote a healthy lifetstyle with walktober
-fun Halloween celebration that involves pumpkin carving and dressing up in costumes.

Cons-no room for advancement unless you make idle threats and even that doesn't work sometimes.
-employees with poor behavior and who are rude
-horrible training for new employees and non-existent continuing education for most established
  employees.
-the training that exists for established employees involves mini training sessions that have no real bearing on the employee's day to day job functions.
-poor vacation and sick day policy. used to have 5 sick days and 3 emergency days but those 3 days were axed this year. even when we had those days, if you wanted to use the emergency day it had to be approved by management which was totally subjective to the manager's opinion.
-poor salary compensation for low level employees and poor annual bonuses.
-the L3 system used to manage files and the Treev system used to scan files are technologically inferior systems that at times make people's life more difficult to do their day to day work.
-sales team and management on all levels do not know how to market the business.
-hire more employees for all aspects the understaffed division.-
-incentives for some employees involves winning desk flair when they have no room on their desks for the flair.
-small clique of managers seem to be running the much of the show which is a detriment to the company and lowers morale
-some employees have an attitude of entitlement or just an overall bad attitude towards external customers and coworkers.
-only certain employees are allowed to telecommute which is causing discord among other employees.
-managers appear to have no control over the external clients

Advice to Senior Management-middle, upper and senior management (including the parent company of Wintrust) do not understand job functions and responsibilities of low level employees. they need to start to truly understand the employees' job functions instead of wasting their time in meetings that attempt to turn back office people into sales representatives.
-all of management needs to adjust their attitudes to the support staff. support staff is here to help you.
-better salary, incentive and annual bonuses and vacation time for all employees.
-better training for all employees that is relevant to the employees
-trust your employee and let them know you trust them.
-need to be open and willing to try suggestions and listen to concerns of employees. right now employees
 aren't comfortable articulating because they feel their manager is ineffectual and people know upper management won't listen anyway. plus they fear they will lose their jobs so employees just yes all levels of management and keep their mouths quiet about how truly dissatisfied they are.
-get rid of the silly training seminars that have nothing to do with motivating and educating low level employees.
-stop rewarding bad behavior
-managers need to learn what a true priority is and learn to handle the external clients better instead of believing the client which in turn overburdens the staff
-management needs to allow experienced employees make decisions and back them up when it is valid
-all employees should be allowed to telecommute. with rising gas prices and sometimes bad weather it's nice to know you can save on gas money and not feel terrified trying to attempt to come into work on bad weather days.
-revise vacation policy. no one should be forced to take a week vacation. the vacation paid time off is so bad for employees with the company less then 3 years that people hoard their days for emergencies because 5 is just not enough.e advice with upper management.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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