MLC Reviews

Updated September 21, 2014
Updated September 21, 2014
15 Reviews
3.3
15 Reviews
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Employee Reviews

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  1.  

    Very good to work for

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Platinum Case Officer in North Sydney (Australia)
    Former Employee - Platinum Case Officer in North Sydney (Australia)

    I worked at MLC full-time (more than 8 years)

    Pros

    Good training. Supportive management on an immediate level. Challenging position. New systems being implemented when I left that were making things a bit easier for processing.

    Cons

    Sometimes difficult to maintain work-life balance. Sometimes decisions come "from the top" without enough explanation/reasoning despite having a large impact on immediate work. HR team not so supportive.

    Advice to ManagementAdvice

    Let your employees know about changes before the advisers do!

    Recommends
    Neutral Outlook
  2.  

    NAB just doesn't get it ...

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Head of Finance in Sydney (Australia)
    Former Employee - Head of Finance in Sydney (Australia)

    I worked at MLC full-time (more than 10 years)

    Pros

    Was a fantastic culture many years ago
    Good work life balance
    Great People

    Cons

    Dealing with NAB Melbourne who don't understand the business
    Poor strategic calls

    Doesn't Recommend
    Negative Outlook
  3.  

    Accountant

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

    I have been working at MLC

    Pros

    Great company values. Unfortunately few people live up to values.

    Cons

    Role was too routine and little scope for growth and development.
    New ideas were treated as a challenge.

    Advice to ManagementAdvice

    Live the values you preach.

    Doesn't Recommend
    Positive Outlook
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  5.  

    Senior Underwriter

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Underwriter in Melbourne (Australia)
    Current Employee - Senior Underwriter in Melbourne (Australia)

    I have been working at MLC full-time (more than 10 years)

    Pros

    Flexible working conditions, working from home option, monthly ADO, really good managers, there was a lot of restructuring last year and staff were worried about their job security but this is all sorted out and there is a really positive culture now, brand new NAB building must be the best venue to work in the world!

    Cons

    Well below market pay is a common complaint and there is not much concern from management to address this, also MLC does not have a built in automatic annual CPI increase as other companies do therefore I lose 3% of my salary every year.

    Advice to ManagementAdvice

    Pay more.

    Recommends
    Positive Outlook
  6.  

    Reasonable remuneration however the culture was dull and slow (from a technology perspective anyhow).

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Software Engineer in Sydney (Australia)
    Former Employee - Software Engineer in Sydney (Australia)

    I worked at MLC as a contractor (more than an year)

    Pros

    Good location in North Sydney.
    Reasonable pay, no expectation of working out of hours

    Cons

    Slow moving in terms of technology
    Lots of has-been's who are stale and not contributing

    Advice to ManagementAdvice

    Move forward and trailblaze from a technology perspective

    Recommends
    Neutral Outlook
  7.  

    Great place to work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Customer Service in Melbourne (Australia)
    Current Employee - Customer Service in Melbourne (Australia)

    I have been working at MLC full-time (more than an year)

    Pros

    Good atmosphere and management. Lot of flexibility and work life balance at call centre, including RDOs. Lots os coaching, which is typical at call centers. Induction is also good and fun. They are not too old school, they are modern and have an open culture.

    Cons

    Had to be stuck there for 1.5 years before being allowed for internal promotions or other roles.

    Advice to ManagementAdvice

    Keep up the close knit team atmosphere. Get rid of the 1.5year rule.

    Recommends
    Positive Outlook
  8.  

    Big Corporate but caring culture

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

    I have been working at MLC

    Pros

    banking and financial benefits are good.

    Cons

    Big corporate that sometimes feels disconnected from reality in its goals.

    Recommends
  9.  

    So far so good

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior AP in North Sydney (Australia)
    Current Employee - Senior AP in North Sydney (Australia)

    I have been working at MLC full-time (more than 5 years)

    Pros

    Company offers work life balance

    Cons

    Career opportunities are not great

    Advice to ManagementAdvice

    They know it better

    Recommends
    Neutral Outlook
  10.  

    OK

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Senior AP in North Sydney (Australia)
    Former Employee - Senior AP in North Sydney (Australia)

    I worked at MLC

    Pros

    Good brand name. Although not great but the contractor rates are fair. Not so fair permanent packages. Some people are very good to work with.

    Cons

    Too much politics and the level of politics is too cheap. Hint of groupism among colleagues from same ethnic background. Some people lack respect towards peers. Work culture is not global, industry standards are not encouraged especially when it comes to technology. Some highly inefficient and obsolete processes are still followed and most likely would continue in the future. No hope or opportunity for using new or advanced technology.

    Advice to ManagementAdvice

    Be fair rather than prejudiced. Make decisions based on talent, efficiency and results rather than cheap talk. Don't encourage politics at workplace. Encourage and give due respect to subordinates.

  11.  

    Overall good, though I was there during the GFC

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Project Manager in North Sydney (Australia)
    Former Employee - Project Manager in North Sydney (Australia)

    I worked at MLC

    Pros

    Good work life balance
    Interesting work and ability to work on a variety of projects
    Good professional people
    Management was competent for the most part

    Cons

    Salary review process was poor in that MLC people were reviewed with nab people and you were bell curved in a large group by managers who did not know your work.
    Full time PMs did not have much over contractors. Permanent PMs were given 2-3 months to find a new project (there was no bench) and then they were retrenched. If you can, become a contractor, then you will earn more money.
    Slow moving but they are a large company.
    They are outsourcing more of the back office to India.
    If you are in IT be a little wary because ultimately the senior management wants to outsource all of IT. They could if they would.

    Advice to ManagementAdvice

    Nothing much to say, I think they are reasonably well run for a large bank. I would focus on the strategy, correctly answering what should the bank look like in 10-15 years to be successful is critical.

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