MGIC Investment Reviews | Glassdoor

MGIC Investment Reviews

Updated September 20, 2017
40 reviews

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3.7
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MGIC Investment Chairman and CEO Curt S. Culver
Curt S. Culver
24 Ratings

40 Employee Reviews

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  1. Helpful (1)

    "Save IT"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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

    Pros

    The people at MGIC are their most powerful and positive asset. The longevity of the staff is amazing in these days and times. This company in its original form gave me a GREAT deal of opportunities for advancement of my skills and position.

    Cons

    MGIC use to have a very cooperative environment. Sadly, recently changes have been put in place that not only impede but forbid communication between individuals trying to get a product/project completed. It use to be everyone would chip in to help get things done but recently MGIC (and IT in specific) has become a shark tank were you do your best to point out what everyone else is doing wrong so you don't fall into the bottom 10%. This company has done a complete 180 in their mentality which is sad because its the quality of communication and compassion that have seen this company through some really awful economic times in the last several years.

    Advice to Management

    Learn the precepts of change management!


  2. Helpful (5)

    "The Worst place I have ever worked"

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

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

    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.

  3. Helpful (5)

    "Life is better after MGIC"

    StarStarStarStarStar
    • 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.


  4. Helpful (1)

    "MGIC WAS a good company!!!!!"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Business Analyst in Milwaukee, WI
    Former Employee - Senior Business Analyst in Milwaukee, WI
    Doesn't Recommend
    Disapproves of CEO

    Pros

    The pay is great...providing you negotiate heavily coming in. Raises are low so make sure you get the cash upfront. The fitness center is really nice and the location is great. The key is to get on a good team.

    Cons

    Senior management is a joke. They promote people to management because they are good at their job not because they would make a good manager. A great programmer does NOT equal a great IT manager. I was unable to negotiate for additional vacation time so I went from 25 days down to 10 days. Parking is $7 per day in the public garage. MGIC parking garage has a 16 year waiting list. The guy next in line was on the list since 1992.

    Advice to Management

    If you ask employees to rate their managers, listen to that feedback. If a team has 50% turnover 2 years in a row, maybe it's the manager????


  5. Helpful (1)

    "hmmmmm"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Milwaukee, WI
    Former Employee - Anonymous Employee in Milwaukee, WI
    Doesn't Recommend
    Disapproves of CEO

    Pros

    The pay was above average, the benefits are outstanding, and work/life balance was great as pretty much everyone leaves by 5:30.

    Cons

    Raises were either not enough to keep up with inflation or non-existant. Management is short-sighted (i.e. concerned with the next quarter while ignoring long-term consequences) and communication from management was not entirely complete.

    Advice to Management

    Improve communication to the employees about what is truly going on within the business. If things are bad then be honest with the employees. Don't send out "warm & fuzzy" emails that simply aim to make everyone feel better.

    Hold management and middle management accountable for their decisions.


  6. "Lacked career advancement opportunities"

    StarStarStarStarStar
    • 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
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    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.


  7. Helpful (1)

    "Pick your managers carefully"

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

    I worked at MGIC Investment full-time

    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.

  8. Helpful (9)

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

    StarStarStarStarStar
    • 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.


  9. "Systems Analyst"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    Great benefits and downtown location

    Cons

    Lagging technology. Struggle to replace just before it goes out of support

    Advice to Management

    Jump start the technology and get current


  10. Helpful (1)

    "Poor advancement opportunities"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at MGIC Investment full-time

    Pros

    Quality colleagues, pension benefits vested after 3 years

    Cons

    Poor pay, bad health insurance, and advancement opportunities are extremely limited, do not recommend. Paid time off is subpar.


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