MGIC Investment Reviews

Updated July 2, 2015
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MGIC Investment Chairman and CEO Curt S. Culver
Curt S. Culver
14 Ratings

22 Employee Reviews

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  1. Great place in a tough industry.

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Risk Analyst in Milwaukee, WI
    Former Employee - Risk Analyst in Milwaukee, WI

    I worked at MGIC Investment full-time (More than a year)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Benefits are generous and they make an effort to create a sense of community.

    Cons

    The company doesn't attract entreprenurs; it attracts people who want to be comfortable.

    Advice to Management

    There are many avenues for disruption to the industry with ⅔ of the Dodd Frank GSE reforms still outstanding.


  2. Used to be a great company to work for... It can regain that greatness

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

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

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

    Pros

    Pay is good relative to industry. Benefits are good. Make sure you have a hard salary negotiation coming in. Don't believe the line that "that's all we can do based on market salary" or "Milwaukee cost of living is lower than other places", because none of that is true. And, the HR "rules" can and will be bent. Raises are not based on your performance (even though they claim they are). The raises are cost of living (at best) unless you are a favorite of your manager.

    Milwaukee home office has a great fitness program, as long as your manager is supportive of you participating in it.

    In return for the minimal raises, you'll get baked potato day or the executives serving you a piece of cake in the cafe.

    A pro, that is the ultimate irony, is they are finally looking outside the company for executive management. Some new blood and ideas might generate some energy. However, it is sad that some extremely qualified people, who were groomed their entire career for senior management roles, got kicked to the side in this process. This speaks to the complete ineptitude of MGIC's talent management program and HR.

    Cons

    Where should I start?

    1. Complete arrogance that "We Are MGIC". Being the first PMI company does not make you the best. That chord may have played well before the mid 2000s collapse that put MGIC within days of going into runoff. The "We Are MGIC" dog don't hunt no more, especially with MGIC customers. You have very little that sets you above your competitors, actually nothing outside of some strong business relationships, thanks to some of your sales team. Perhaps you should read about Xerox, Polaroid, Blockbuster, Radio Shack and MySpace, among others. Keep telling yourself you're the best and first in the business - that doesn't resonate with customers in today's market. And customers don't give a flip about cute little marketing giveaways. Do you still have the boxes full of Single File stuffed pigs?

    2. Lack of humility in management. Curt Culver had humility. Pat Sinks and Tim Mattke have got it. Too bad it doesn't flow down hill to much of the management below them. Especially senior executives who rent out halls to boast how lucky the commoners below them are to have their leadership team leading the charge, while finding new positions for their unqualified sycophants, and tossing anyone that constructively challenges the status quo into the wind. It was amazing, and totally demoralizing, watching the money spent to boost certain senior execs egos while the company was fighting to stave off BK.

    Most senior execs and middle managers are like the Enron "smartest guys in the room". To quote Jim Collins in Good to Great, "the key is not to de-motivate people. One of the primary ways to de-motivate people is to ignore the brutal facts of reality." Management, listen to your front line people. They hear the brutal facts of reality every day, unfiltered from your customers. To paraphrase another Good to Great point, great companies worry about what external reality can do to the company. MGIC lower level managers and employees live in a climate where they won't comment until they know how leadership feels, with the fear they will be castigated if they don't toe the party line.

    3. People don't leave companies, they leave their managers. See #2 above. Figure out which of your managers lack humility. BTW - you have a bunch of them. Take a long look at your departments that have the most customer contact to find most of them. Hint: it's not your sales force. Those departments lose good employees, either voluntarily or by those employees ceasing to care because they no longer feel valued. Check out the number of long time employees that have retired or have resigned.

    4. Internal job opportunities - hope you have a good manager that cares for your advancement. Amazing how many jobs go to manager favorites and not the most qualified individuals. Just so it doesn't appear this comment comes from a personal rejection, I never applied for another internal position prior to leaving MGIC. But I've seen plenty of qualified applicants passed up for political hacks.

    5. Figure out a way to reward your best employees and make that reward significant enough to incent the high performers from those that shoot for par. A 0.5% salary increase differential between average and star performers ain't (sic) going to cut it.

    6. Take a real strong look at your middle management. A good number of them are pompous blowhards that think their title or the fact they dress a step up from the non-managers makes them superior and entitles them to treat their reports like dirt. A fair number of managers share personnel issues, that should be confidential, freely with others - that includes people in HR. Shocked you haven't got slapped with a lawsuit yet.

    Advice to Management

    Instill humility in your managers. Make Mr. Sinks' simple management mantra of honest communication, trust (that goes two ways) and mutual respect a core of your principles.

    I loved working for MGIC. But my decision to leave was one of the best decisions I ever made. I hope you regain your glory, only because I still own MGIC stock.


  3. Better off elsewhere

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

    I have been working at MGIC Investment full-time

    Doesn't Recommend
    Negative Outlook
    Doesn't Recommend
    Negative Outlook

    Pros

    None at the moment with present management

    Cons

    Management is intent on making this a bad place.


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  5. Pick your managers carefully

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

    I worked at MGIC Investment full-time

    Recommends
    Neutral Outlook
    Recommends
    Neutral Outlook

    Pros

    There are some good folks and not so good. Many mangers are brought up through the ranks and are not seasoned or even groomed for the part. In spite of that, others are truly fantastic. More good than bad. There are very few opportunities in their business and zero growth prospects ahead. Most positions are dead end due to lack of growth.

    Cons

    On the brighter side. They are in a sleazy business in a broken industry that the government wants to desperately change. Due to large transaction costs, the housing industry has always attracted lowlife opportunists that create a need to offset risk. Unfortunately they have repeatedly been unsuccessful in managing the risk.

    Advice to Management

    Keep cashing your checks.


  6. No room for growth. Great enviroment for the soon to be retired.

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

    I have been working at MGIC Investment

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

    Pros

    Great staff, as far as co-workers. .

    Cons

    Management needs to go back to school and take courses in new management styles. Company is doing great but would probably be doing better if new techniques of management are in place. No incentives and inferior personalities cause for lack of motivation for employees.

    Advice to Management

    Training should be more proactive intead of "by the way". No room for promotion, even if your manager leaves and you are the next qualified.


  7. The Worst place I have ever worked

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Office in Milwaukee, WI
    Former Employee - Office in Milwaukee, WI

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

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    None it was a job

    Cons

    In order to get ahead in the company you have to be a kiss butt. The bosses they hire have no experience for the job that you are doing. I was there for 30 years never got anywhere as far as moving ahead the management all sticks together.

    Advice to Management

    You all suck big time it was the most stressful time in my life. How come all the little people get laid off but yet there is 4 bosses to 4 employees in the department. There is a lead at every other desk but yet no one to lead because all the regular employees have been laid off. Why aren't the lay offs reported in the Milwaukee Journal? Is it because MGIC only lays off 5 employees at a time so they can be in the best work place award to work? There have probably been more than a 100 layoffs in the company but never hits the paper. Worst place ever to work.


  8. Good pay and excellent benefits.

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Wisconsin in Milwaukee, WI
    Current Employee - Wisconsin in Milwaukee, WI

    I have been working at MGIC Investment full-time

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Management works hard to keep morale up.

    Cons

    Dealing with too many bosses.


  9. Underwriter

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

    I have been working at MGIC Investment full-time (More than 5 years)

    Recommends
    Neutral Outlook
    Approves of CEO
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    Great salry, benefits, stability and longevity. Company culture is great with excellent experienced people in place to facilitate success.

    Cons

    There are no negative comments at this time. The only thing I would comment about is that for those who are looking to advance, the opportunities are slim as most employees stay within their positions for many years.

    Advice to Management

    Management for the most part is very responsive and clearly identify expectations and job performance goals.


  10. I am having an enjoyable experience with MGIC.

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Claims Examiner in Milwaukee, WI
    Current Employee - Claims Examiner in Milwaukee, WI

    I have been working at MGIC Investment full-time (More than 3 years)

    Recommends
    Neutral Outlook
    Approves of CEO
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    There seems to be a genuine concern for the employees and the employee environment.

    Cons

    There could be more attention to the schedule for claims and the production requirements. The requirements seem to be discriminatory.

    Advice to Management

    Pay attention to the employee suggestions.


  11. Lacked career advancement opportunities

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Customer Service Specialist in Troy, MI
    Former Employee - Customer Service Specialist in Troy, MI

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

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Easy work for great pay. Overall a good group of co workers. Close to home. Good area to work in.

    Cons

    No room for advancement. Waited 10 years to be trained as an underwriter and it never came to fruition. They would hire external people to fill internal positions. Management were all biding their time until they retired. They did not listen to employee concerns. Fostered a "just be lucky you have a job" attitude amongst all employees.

    Advice to Management

    Listen to employee concerns. Give them a chance to prove themselves worthy of more responsiblity.



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