Mutual of America Employee Reviews | Glassdoor

Mutual of America Reviews

Updated March 22, 2017
82 reviews

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Full-time Part-time

2.5
Star Star Star Star Star
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Mutual of America Chairman, President and CEO Thomas J. Moran
Thomas J. Moran
50 Ratings

82 Employee Reviews

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Pros
  • Great Benefits and work/life balance favorable (in 14 reviews)

  • The people are great to work with (in 5 reviews)

Cons
  • Very low pay for this field and especially for NYC (in 5 reviews)

  • Old boys club; Not what you know, but who you know (in 2 reviews)

More Pros and Cons

  1. "Senior Accountant"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Accountant in New York, NY
    Former Employee - Senior Accountant in New York, NY
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Mutual of America full-time (More than a year)

    Pros

    Hours are great for work life balance. The benefits are really good for somebody with a family.

    Cons

    No room for growth in career.


  2. "How do they make $$$"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Account Representative
    Former Employee - Account Representative
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Mutual of America full-time (More than 3 years)

    Pros

    Great corporate culture, emphasis on corporate responsibility towards community.

    Cons

    Nepotism, unqualified employees, sales/marketing representatives have very little knowledge about investing in general, don't even know simple investment terms and philosophies.

    Advice to Management

    You need to hire more qualified people and expand your product line.


  3. "Solid Job, Nothing More...Yet."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook

    I have been working at Mutual of America full-time (More than 10 years)

    Pros

    Mutual of America has excellent benefits - how many companies still provide a Pension?...Mutual of America does. There is a "sub-community" within the company that consists of some extraordinarily intelligent and driven people - this core team moves business initiatives forward. If you have the right management support, you can grow here, but it is a very challenging environment to "get ahead". If you are interviewing here, make sure you get a "good feeling" from the person that will become your supervisor - there are no cost of living raises at Mutual, so the only way to earn more is to have someone that supports you and your goals.

    Cons

    This company is simply "stuck". The Sr. Management team believes that upgrading our technology will help, but the reality is that we sell outdated, expensive variable annuities and depend on a super-aggressive, yet highly effective, sales team to drive business. Honestly, we must have the best sales team in the business to sell these plans. All Mutual Employees are restricted to using Mutual of America as a 401(k) provider, which offers high-fee funds wrapped in variable annuities. You can't even find the investor version of the funds on Morningstar, which is preposterous. If it weren't for the generous Pension they give us, I would have left the company years ago over how truly horrible the 401(k) plan is compared to Fidelity or Vanguard. Sr. Management needs to really look at what competitors are offering in terms of overall product portfolios. Everything is done by committee at Mutual. This makes decision making extraordinarily slow and inefficient. It is only through perseverance, determination, and exhaustion that the "sub-community" is able to get anything accomplished. I have enjoyed this challenge, but I will not lie - it gets tiring. Also, the business formal attire for non customer-facing positions fully demonstrates this company's lack of relevance in today's business world. The company is trying hard to grow - in some ways it is succeeding. However, to meet their lofty goals year after year, this company is going to need to change significantly, and I just hope that I am part of that change. This company needs to learn that it can rely on it's staff to grow, not just the top few leaders.

    Advice to Management

    Learn what your competitors are doing - not just from a sales perspective, but from an overall product offering point of view. Offer retail mutual funds that people can track outside of your own tools. Understand that your staff is an asset, not a liability - ideas for growth can come from anywhere, not just the top. Let people that have been succeeding despite this suffocating environment take more control - we know what's out there. We've worked at other companies - let us help you meet your goals. Overall, this is a great company with massive potential - it just needs to be "super-charged" with new ideas.


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  5. "Group Sales Position"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Group Account Representative in Denver, CO
    Former Employee - Group Account Representative in Denver, CO
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I worked at Mutual of America full-time (More than 3 years)

    Pros

    Company car and benefits. Freedom to market in my territory how I saw fit. Coworkers.

    Cons

    Low Salary and difficulty obtaining the company goals that everyone, no matter how different your territory is, must strive to reach

    Advice to Management

    Change the business model/sales goals to fit each territory and remove the regions that aren't hitting goal...evolve the product to be more competitive with the marketplace.


  6. Helpful (1)

    "Just Run!"

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

    Pros

    Benefits, people who work there, and lunch.

    Cons

    There are too many to name.


  7. "Get Ready For Stress"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - WITHDRAWAL CLAIMS ASSOCIATE in Boca Raton, FL
    Former Employee - WITHDRAWAL CLAIMS ASSOCIATE in Boca Raton, FL
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Mutual of America full-time (Less than a year)

    Pros

    The office is nice and they give you great perks by discounting your gym membership and lunch meals

    Cons

    They literally just give you a book and expect you to know what to study for the series 6 exam and hope for the best.

    Advice to Management

    Have actual classes that help your candidates chances at passing the series 6 exam. It will show that you care and actually want your new hires to succeed. Rather than just throwing them to the wolves.


  8. "Tax Accountant (Senior)"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Tax Accountant in Cliffside Park, NJ
    Current Employee - Senior Tax Accountant in Cliffside Park, NJ
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I have been working at Mutual of America full-time (More than 10 years)

    Pros

    I was able to learn municipal tax, sales and use, commercial rent, property tax. SInce I know the taxes for withholding and unemployment.

    Cons

    When transfer to new department after my department was separate from Corporate Tax. It is very difficult to work with people do not getting alone.

    Advice to Management

    Learn to work as team and get alone, so that work get out correctly.


  9. "Solid and Steady"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Participant Account Executive in Boca Raton, FL
    Former Employee - Participant Account Executive in Boca Raton, FL
    Recommends
    Neutral Outlook
    No opinion of CEO

    I worked at Mutual of America full-time (More than 8 years)

    Pros

    Easy.
    Follow their system and youll be fine.

    Cons

    Individual performance is not fully recognized.
    Ideas not welcomed.
    Nepitism.

    Advice to Management

    Sometimes a simple "thank you" to employees for good work will go a long way.


  10. "Overall Good Experience"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Intern - Hourly in New York, NY
    Former Employee - Intern - Hourly in New York, NY
    Approves of CEO

    I worked at Mutual of America (Less than a year)

    Pros

    Good work environment. Everyone was very friendly and helpful.

    Cons

    A little old fashioned in the way things are run, very conservative.


  11. "account representitive"

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

    I worked at Mutual of America full-time (More than 3 years)

    Pros

    They provide an excellent retirement plan, great health benefits, fair amount of vacation time and fair amount of sick days.

    Cons

    They are predominantly a male run company, they have a "boys club" mentality. They micro manage their employees, and leadership is weak.

    Advice to Management

    Provide more training for employees when first starting out. When employees are trained allow them to operate as a financial advisor would and allow them to work their book and have more freedom.



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