MGIC Investment Reviews | Glassdoor

MGIC Investment Reviews

Updated June 7, 2017
37 reviews

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Full-time Part-time

3.4
Star Star Star Star Star
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MGIC Investment Chairman and CEO Curt S. Culver
Curt S. Culver
21 Ratings

37 Employee Reviews

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  1. "Great place to work. Older workforce. No one leaves unless they ha e to."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Applications Developer in Milwaukee, WI
    Current Employee - Applications Developer in Milwaukee, WI
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at MGIC Investment full-time (More than 10 years)

    Pros

    Good, smart people. Good work/life balance. Competent leadership. Fair salary.

    Cons

    Not super flexible work hours. Hostile to working remotely. Could use some younger blood.


  2. "IT"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - IT Specialist in Milwaukee, WI
    Former Employee - IT Specialist in Milwaukee, WI
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Good Benefits, Good People , Pension

    Cons

    IT Department in turmoil. Layoffs

    Advice to Management

    Look at IT upper management.

  3. "MGIC is a good company to work for"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Underwriter in Milwaukee, WI
    Current Employee - Senior Underwriter in Milwaukee, WI
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Great benefits, includes pension and chance to get free health insurance

    Cons

    None that I can think of


  4. "Great place to work!"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Milwaukee, WI
    Current Employee - Anonymous Employee in Milwaukee, WI
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at MGIC Investment full-time (More than 10 years)

    Pros

    I have been working at MGIC for 14 years and I have held 5 positions here and have continued to advance. People don't leave...The benefits are great, co workers are amazing and they care about their people. They understand that you have a life outside of work and will work with you when you have to leave early for appointments ECT. They are now renovating the entire building...It's looking modern and up to date.

    Cons

    "old school" styles but this is slowly being changed and people retire and new people are being hired.


  5. "The People"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - MGIC in Milwaukee, WI
    Current Employee - MGIC in Milwaukee, WI
    Recommends
    Positive Outlook

    I have been working at MGIC Investment full-time (More than 10 years)

    Pros

    The people are great at MGIC. Weather you are riding high or low on a particular day there is always someone to turn to for professional and personal to collaborate with on issues. Great benefits - maturing as a company in terms of technology, data and hiring and employee management. Pension - 401K - Profit Sharing - great Medical.

    Cons

    Sometimes the EGOs of upper management are to heavily involved finding solutions for business. Wondering if wanting to do good business and work for the company is the goal - or "winning" is the objective.

    Advice to Management

    Encourage candor and transparency during interdepartmental teams. Take the feedback from employee surveys very seriously.


  6. "Excellent place to work!"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Business Analyst & Data Architect in Milwaukee, WI
    Former Employee - Business Analyst & Data Architect in Milwaukee, WI
    Recommends
    Positive Outlook

    Pros

    MGIC is a great place to learn and grow professionally. Management works with individuals to better their career path and growth potential.

    Cons

    MGIC is very compartmentalized and segmented which hinders open communication between departments. They are working on these issues and there has been improvement.

    Advice to Management

    Utilize the people that want to be there to work and learn instead of directing them to busy work and letting their talents go to waste.


  7. "Underwriter"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Mortgage Underwriter in Jacksonville, FL
    Current Employee - Mortgage Underwriter in Jacksonville, FL
    Recommends
    Positive Outlook

    I have been working at MGIC Investment full-time (More than a year)

    Pros

    Work at home, great pay

    Cons

    Little paid time off for contract

    Advice to Management

    Great Company and Pay to work at home

  8. Helpful (5)

    "Life is better after MGIC"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - IT Specialist in Milwaukee, WI
    Former Employee - IT Specialist in Milwaukee, WI
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at MGIC Investment full-time

    Pros

    Lots of places to hide out if you're just putting in time until retirement and have no morals or ethics.

    Cons

    Management is insane, especially in IT. Avoid if at all possible.

    Advice to Management

    Yeah, I tried giving management advice. It didn't work out too well.


  9. Helpful (8)

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

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

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

    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 totally 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.

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

    Milwaukee home office has a great fitness program and workout room.

    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.

    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.

    A lot of the senior execs, directors and middle managers act as they are the Enron "smartest guys (and girls) 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, direct from your customers. To paraphrase another Good to Great point: 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 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. "Death by a thousand cuts" - Quoting Good to Great again. Another former MGIC employee reviewer also alluded to this. For the past several years, MGIC has continually laid off people, a few at a time. Back to Good to Great, "... there's no sense in beating around the bush, not being straightforward with people... Yes... you have a job, so stop worrying about it. We were not going to subject our culture to a death by a thousand cuts." Instead MGIC cuts a few at a time, then wonders why they have morale issues. After all, you should be lucky you have a job.

    5. Motivational poster of the month. Post them by the elevators. Hint #2: these don't work unless your leadership talks the talk and walks the walk. Fearful support from your lower level managers doesn't do the trick when senior management doesn't show the same engagement, and they actually treat the motivation slogan of the day as a bad episode of The Office or Office Space.

    6. 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.

    7. 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 does not cut it.

    8. Take a real strong look at your middle management. A good number of them are pompous blowhards that think their title or the that they think 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. 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, but only because I still own MGIC stock.


  10. "Great place in a tough industry."

    Star Star Star Star Star
    • 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
    Recommends
    Positive Outlook
    Approves of CEO

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

    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.


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