Mutual of America Reviews

Updated August 6, 2014
Updated August 6, 2014
58 Reviews

3.1
58 Reviews
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Mutual of America Chairman, President and CEO Thomas J. Moran
Thomas J. Moran
36 Ratings

Employee Reviews

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  1.  

    Intern

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Mutual of America as an intern for less than a year

    Pros

    Incredible atmosphere filled with great people, indicative of a company that clearly cares about its employees.

    Cons

    The location of the building is not good when major UN meetings occur, as international dignitaries usually stay at the Waldorf across the street, creating traffic blocks.

  2.  

    Lots of Promises, you must be experienced to balance the power plays

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Sales Associate  in  Philadelphia, PA
    Current Employee - Sales Associate in Philadelphia, PA

    I have been working at Mutual of America full-time for less than a year

    Pros

    Salary, Car, other perks

    Cons

    Selling one size fits all product, obviously not designed to meet everyone's needs. You may have a problem with this if you are used to doing proper needs assessments.

    Advice to ManagementAdvice

    Have more "Passion" it felt like such a rigid stiff lifeless environment. Chill on the negativity talk.....positive thinking is what gets things done, and hard work, neither of which was present when I witnessed the staff in action.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  3.  

    Nothing like they lead you to believe

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

    I worked at Mutual of America full-time for more than 3 years

    Pros

    Individual health insurance premium is $20 a month. Sales reps get company cars (lowest model domestic). Vacation is competent.

    Cons

    Pay is well below industry average. Company 401(k) has a match, yet funds are horrible and expensive, same as sold to clients (over 1% in fees on their own employees!). If you are in a field office, you have nowhere to go; even if you are chosen for management you have to wait for one of 28 people to get fired, demoted, retire, or leave to have a shot. Promotions are claimed on merit, but if you clash with your supervisor, even if you hit your goals you will not get promoted - the only way to get a raise. Your bonus is sold on the interview hard, but your whole office, and company have to do very well (esp other individuals in your office) for you to have a shot at anything substantial.

    Advice to ManagementAdvice

    Promotions must be merit based. Home office is staffed with people who are so unaware of industry trends it's appalling. Pay is so low as to invite the most successful representatives to be picked off almost at will. Turnover in a lengthy sales cycle job crushes the bonuses in regional offices of the good sales staff. Service and paperwork infuriate clients to a fault. Failure to update technology / investment menu / etc. hampers growth.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
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  5.  

    Salary and bonus cap

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

    I have been working at Mutual of America

    Pros

    Great benefits. Zero deduct health insurance that costs $10 per pay period.

    Cons

    Antiquated Systems. Under staffed at the home office causing more work at the branch level. Constant follow up required to make sure things are done. Starting pay is $50k and capped at $70k. Bonus depends on office performance instead of individual production. Vacant positions are counted in bonus calc causing 10-30% reduction in bonus for things that are out if your control. Management not in touch with daily operations and field reps are not allowed to speak with Executive Field staff to communicate ideas.

    Advice to ManagementAdvice

    Seek direct input from the field that is not filtered by Regional Office. Create a sales training program run by industry professionals not what is called training now. Update systems and replace people at the home office.

    Recommends
    Positive Outlook
    No opinion of CEO
  6.  

    Get Read to Cold Call

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Associate Account Representative  in  Pittsburgh, PA
    Current Employee - Associate Account Representative in Pittsburgh, PA

    I have been working at Mutual of America full-time for more than a year

    Pros

    Company car, parking paid for, insurance paid for, all car upkeep paid for.

    Cons

    Cold Calling, lack of interest in networking.

    Advice to ManagementAdvice

    Get out of the stone age of cold calling.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  7.  

    not for the ambitious

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

    I worked at Mutual of America full-time

    Pros

    benefits, bonus is virtually guaranteed, nice membership perks with NYHRC & NYSC

    Cons

    If you want a 'job', this is the place. Company is very conservative and if you get fired, you deserved it. 80% of the employees do not have the skillets required to make it in the most menial roles within other financial institutions. So, you are highly unlikely to learn anything that will give you a 'career' anywhere else. The only exception to this rule is their investment management arm 'Mutual of America Capital Management'. There are a few talented people there, and it can be a solid launch-pad to other firms.

    Advice to ManagementAdvice

    Retire.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  8. 1 person found this helpful  

    Nepotism, no promotion, no salary increase

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

    I worked at Mutual of America full-time for more than a year

    Pros

    Good benefits. 401(k), DB plan 3+ weeks vacation.

    Cons

    There is no salary increase not even a compensation for the cost of living increase. Has one of the highest level of nepotism of all the companies out there. There is no room for promotion if you are not connected or related to someone in the upper management. People are nice but the morale is very low.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  9. 1 person found this helpful  

    Mutual of America Employer Review

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Participant Account Representative  in  Parsippany, NJ
    Former Employee - Participant Account Representative in Parsippany, NJ

    I worked at Mutual of America full-time for more than 3 years

    Pros

    Ability to work with both business and individual clients, and manage a state-wide client base. Plenty to keep you busy and learning, and improving. Job requires travel around the state, so it does not get boring. Great health benefits, paid health insurance plus 401K plan. Company car.

    Cons

    Professional growth and promotion opportunities are limited. Only way to get promoted is if someone retires. Pay is fair but could be better. Average salary for this position elsewhere is higher. Mutual of America does not pay as much, because they say they make up for it with benefits. Most managers and leaders are good to work for, but there are some really terrible ones. Unfortunately the manager I worked for was a horrible manager who only micromanaged, blamed everyone for setbacks, but took all credit for successes. Could not control his emotions and lashed out at employees from time to time, embarrassing teammates in front of the whole office.

    Advice to ManagementAdvice

    Mutual of America is a good company. They treat employees well and fair. They care about clients and work hard to do right by them and do the right thing as a company. However, the culture of the company can be compromised and good talent chased away by some of the more 'experienced' managers who don't actually manage and create a stressful and negative work environment. Better oversight of Regional managers is a must.

    Recommends
    Neutral Outlook
    Approves of CEO
  10. 1 person found this helpful  

    Welcome to the D-League

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

    I worked at Mutual of America full-time for more than 3 years

    Pros

    1950's mentality means employees actually get a respectable wage with benefits and sometimes a company car.

    Cons

    Not a major player in the retirement plans space, the only thing that they do. Everyone asleep at the wheel from the top down. Minor league management overseeing minor league talent from the most part. The only relevant market they serve is non-profits who would basically do business with anyone for the promise of even the most meager donation

    Advice to ManagementAdvice

    Stick to the market you serve (small non-profits) and stop branching out to for profits, because you are at best a double A team competing in the major leagues and you're def. not juicing. Stop blaming sales execs when you don't meet your goals when you know your funds are second rate and service is spotty at best. Glass ceiling. Who wants to be 55 and cold calling the same small territory until the end of time

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  11. 2 people found this helpful  

    Bad morale , no raises , nepotism

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Finance  in  New York, NY
    Former Employee - Finance in New York, NY

    I worked at Mutual of America full-time for more than 10 years

    Pros

    They have a cafeteria that is reasonable. A defined benefit pension plan that is generous. Central location in Manhattan. Very reasonable work hours for those looking for work / balance

    Cons

    Innovative concept regarding cost of living raises . There are none. Employee morale is horrendous. Great company if you are related to upper management , Company is built on Nepotism

    Advice to ManagementAdvice

    Get a clue. Try to boost employee morale. Pay employees a fair wage and not something from the prior decaade

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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