MassMutual Financial Services Professional Reviews | Glassdoor

MassMutual Financial Services Professional Reviews

Updated April 12, 2017
52 reviews

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Financial Services Professional

3.1
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MassMutual Chairman, President, and CEO Roger W. Crandall
Roger W. Crandall
18 Ratings

Employee Reviews

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Pros
  • Great work environment, supportive mentors, highly recommend this internship opportunity if offered (in 29 reviews)

  • Stable Company, good benefits if you take advantage of them (in 28 reviews)

Cons
  • Commission only, no base salary or temporary salary while training (in 19 reviews)

  • It is 100% commission based, so the beginning can be very difficult to get through (in 23 reviews)

More Pros and Cons

  1. "Financial Service Representative"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Services Professional in Lake Oswego, OR
    Current Employee - Financial Services Professional in Lake Oswego, OR
    Recommends
    Positive Outlook

    I have been working at MassMutual full-time (Less than a year)

    Pros

    MassMutual-Oregon was crucial in developing me as a professional straight out of college. While it a large company, it feels small in terms of support from the home office as well as the resources at the Lake Oswego location. They have an excellent training program that they stick with - it's not just 2 weeks and they forget about you. It's consistent, everyday development.

    The culture is filled with a lot of people who like to WIN - this is a competitive atmosphere where people work hard and there are options to go out and have a good time with coworkers too. Company trips, happy hours in PDX etc...

    There is a lot of freedom in the role and with hard work, a large payout. If you are looking into to get into the financial services business or are already experienced and don't feel like you have the things you need to be successful - make MassMutual your 1st choice.

    Cons

    By becoming a business owner, you'll need to act like a business owner. This means hard work and being accountable for your day in, day out activity. While the rewards are great, nothing comes easy and you have to have a great, positive, mentality when you start.

    Advice to Management

    Continue to put in your best effort training new reps and continue to support the more experienced producers.


  2. Helpful (1)

    "Financial Rep."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Services Professional in Rochester, NY
    Former Employee - Financial Services Professional in Rochester, NY
    Doesn't Recommend
    Negative Outlook

    I worked at MassMutual full-time (Less than a year)

    Pros

    Known name in Industry.

    Cons

    little real training, You bring in your friends and family and then ? No Marketing while I was there. Their focus is Mortgage and trade shows. focus on Insurance . very few FT real employees mostly contractor status with really bad benefits. 3000 deduct on health insurance. No book of business, No leads from company, They discourage mass mailings and massive phone calls even when I purchased the names to call due to the do not call laws in NYS. Management is unresponsive and very concerned about inner office critics but when you leave they trash you. Fake sales numbers to motivate the new people. Mass hiring and then mass migration when you can not bring in strangers to sell after they have your friends and family , They made pack the " forgivable" draw they paid you for a short time which is not really forgivable if you do not meet all goals , they send your name to collection agency for all money they spent in " training allowance " So you have to pay them 6,000 if the position does not work out and most positions will not unless you have friends and family to make those goals so the pressure is on to sell Mass Mutual products required to meet goal. Everyone there is a " director" or manager but most are just Reps that did not do well at being a rep so they were given positions of power to keep them around. Retention will be very low . They wanted me to mentor the new people instead of working my own marketing plan and I have 20 years in the business. Do Not work there. and whatever you sign, make sure it's not a " loan" agreement , they are sneaky . Gossip is high, Moral is low.

    Advice to Management

    The principal, David , needs to fire all this fake management people and get qualified people to head all departments and make a real marketing department like your " benefits statement " suggests you have already. Massive marketing and phone calls from a phone center and mass mailings and networking is the only way to succeed. I got them to join the chamber of commerce in my last days there , which they should have been involved with actively all along. Stop scamming people with this fake forgivable draw , bait and switch scam , do not let your C,O,O run the show , she is useless and was a secretary a few years ago and now she is running your company ? Really ? Do not hire people until their license is approved by NYS insurance department. Asking reps to write business in their boss's name and rep number is illegal. If you give your managers mortgage leads to distribute and they keep all the leads for themselves , that is morally wrong and highly unprofessional. The sales managers are sales people over seeing new reps. They have no loyalty to the reps at all.. I call it the family and friends program and once you get all their network to buy they are gone. You stole that idea from Metlife and look what happened to them. Going to the Principle of an agency and have to beg for business or for opportunities gives you the power but is very unprofessional that everyone is at your mercy for a paycheck. I had to beg over a two month period to be part of the Mortgage lead program and my emails and voice messages went unanswered for weeks and months at a time as the Principal's secretary was the " marketing department" and a busy secretary and in charge of the smooth transition of new reps into the business. She was overwhelmed and unresponsive and took a whole month off due to " illness" while most of this work needed to be done. All my emails and complaints and objections to how things were done were shoved back in my face as " mutiny" and Treason toward the Company and called " Snarky" . so this is apparently a company that can not take any Critic's voice at all. Be quick, do not complain, being in your connections and then you are on your own so be prepared to spend your own money as I did on all marketing and sales efforts as if you were starting your own business out of your home and using a Company name while giving Massmutual half of your commissions and pay for office space and supplies. Worst contract in the history of Financial Services positions out there.


  3. "Financial Professional"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Contractor - Financial Service Professional in San Jose, CA
    Current Contractor - Financial Service Professional in San Jose, CA
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I have been working at MassMutual as a contractor (More than a year)

    Pros

    Unlimited income potiental and you set your own schedule.

    Cons

    All commission. Also, you need to know a lot of wealth people the want to really believe and want to work with you. The amount of time you get to grow your practice depends on your race and sex.

    Advice to Management

    Give everyone the same amount to time to grow their business.


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  5. Helpful (1)

    "MassMutual St. Louis management/training was a severe disappointment"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Services Professional in Saint Louis, MO
    Former Employee - Financial Services Professional in Saint Louis, MO
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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

    Pros

    They have a great whole life insurance product for you to sell. It truly is the best on the market if you do your research.

    Cons

    They hire anyone who breaths. If you can breath they can hire you, you can bring a friend/family member on as a client, and then when you quit they don't have to pay you residual so they make more money.

    They train on old school insurance sales, not the financial products or how to run a business. They charge you for everything most people take for granted at businesses. They charge for your E&O insurance, CRM's, printing, licensing, and a bunch of other stuff most companies would take care of for you.

    There are good advisors here who focus on comprehensive planning, but management pushes insurance because that is what they get paid for.


  6. "Financial Services Professional"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Services Professional in Detroit, MI
    Current Employee - Financial Services Professional in Detroit, MI
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at MassMutual full-time

    Pros

    Progressive and forward thinking company. Non-captive. Their mantra is how can we help you succeed? Great resources available. Knowledgeable staff at all levels. Products are well designed. It is truly your own business, but an agent is set up as an employee, but still get all of our own write-offs for tax purposes. The best part is the pension and renewal income streams.

    Cons

    Straight commission is tough. Underwriting takes a lot of time sometimes. Other than that I cannot think of any cons to being an agent with MassMutual.

    Advice to Management

    Would be nice if we were on a true salary until we have built up a book of business. Love the latest sales training.


  7. Helpful (1)

    "New employees need more support"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Services Professional in Perimeter Center Post Office, GA
    Former Employee - Financial Services Professional in Perimeter Center Post Office, GA
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    Beautiful office environment and working hours are very flexible

    Cons

    It is commission base. Senior managers work on their own team so they are competitive with each other. Management seems to weight on the new business and the targeted sales number more than providing service and caring for their clients.

    Advice to Management

    Provide more financial and spiritual support for the new employees. Sell the service and not service the sale.


  8. "Good Internship Program"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Intern - Financial Services Professional in Pittsburgh, PA
    Current Intern - Financial Services Professional in Pittsburgh, PA
    Recommends
    Positive Outlook

    I have been working at MassMutual as an intern (More than a year)

    Pros

    Freedom to explore the financial services industry

    Cons

    Sometimes too much freedom, and commission based

    Advice to Management

    Add structure


  9. Helpful (1)

    "MassMutual Internship"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Services Professional in Lake Oswego, OR
    Current Employee - Financial Services Professional in Lake Oswego, OR
    Recommends
    Positive Outlook

    Pros

    I am currently a junior in college, studying Business Finance. If you're looking for an internship where you're getting coffee for your boss and job shadowing, this isn't the place for you. You're challenged every single day to be the best that you can, and your impact on your clients, as well as your personal income, will reflect that. The internship is what you make of it, and I knew I loved this career right away. The highly selective program provides the tools and resources that you need to be successful. All you need to provide is the work ethic and discipline. The entrepreneurial aspect of this career is incredibly attractive to competitive individuals, and the opportunity for long term success is there if you put in the work.

    Cons

    You have to work incredibly hard to be successful, but to many, that is a huge pro. Immediate income is small, but the focus is long term, just like building any business.

    Advice to Management

    Keep it up!!!


  10. Helpful (2)

    "Financial Services Professional"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Services Professional in Houston, TX
    Former Employee - Financial Services Professional in Houston, TX
    Recommends
    Neutral Outlook

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

    Pros

    Training program is much better than traditional sales. Focuses more on consultative approach. Great resources for marketing, planning and goal setting.

    Cons

    Commission based salary. If you don't sell you don't earn. Must have a great market to start with or be willing to cold call and prospect in similar fashion or you I'll have a tuff time.

    Advice to Management

    Clarity of how tuff it is to start and that the number 1 duty is to prospect. New people may be overwhelmed with training of all types including product, sales presentation, and marketing that prospecting is not prioritized and built in as routing from the start.


  11. "Financial services professional"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Contractor - Financial Services Professional in Seven Fields, PA
    Current Contractor - Financial Services Professional in Seven Fields, PA
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at MassMutual as a contractor (Less than a year)

    Pros

    Great support system, great company, great training, independent agent (if mass products do not fit you can go outside the company to do what is best for the client).

    Cons

    Straight commission, you pay business expenses monthly, find your own prospects and clients.

    Advice to Management

    Find a way to get lists for agents without them having to pay for them. Help the prospecting process.