Penn Mutual Reviews | Glassdoor

Penn Mutual Reviews

Updated June 26, 2017
98 reviews

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Full-time Part-time

3.7
Star Star Star Star Star
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Penn Mutual Chairman and CEO Eileen McDonnell
Eileen McDonnell
53 Ratings

98 Employee Reviews

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Pros
  • The company has great people to work with (in 8 reviews)

  • Positive, inclusive work environment and impressive community spirit (in 5 reviews)

Cons
  • Astronomically priced, high deductible healthcare that will put a huge dent in your paycheck and has no benefit (in 3 reviews)

  • Bad upper and middle management (in 3 reviews)

More Pros and Cons

  1. Helpful (1)

    "Emerging Adviser"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Emerging Advisor in Brentwood, TN
    Former Employee - Emerging Advisor in Brentwood, TN
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    Great training - Brand strong - Great team

    Cons

    Not enough time to develop relationships. They are working with LEAP which entails Possible 5 sit down appointments. Hard to make sales quota with this time frame.

    Advice to Management

    Need to have more than one trainer - same old good old day -


  2. "Disappointed"

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

    Pros

    Financially solid company with great products!
    I'm sure corporate / salaried employees do well, since there is so much money in the basement.

    Cons

    Life Insurance is viewed by most people as unnecessary, since it can only benefit someone else upon death. Approaching potential clients with smoke and mirrors adds to the distrust, especially when dealing with business savvy individuals. San Francisco agency lacks direction, training classes lack structure and most promises fall short.

    Advice to Management

    Make sure the new hires are properly trained, mentored and financially compensated. What you should never do is criticize all your employees in a full office meeting by saying such things as "if you can't cut it here, go serve burgers at McDonalds". The top producers are at the top....Why? Invest in success! Share the wealth!

  3. "Management"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Horsham, PA
    Former Employee - Anonymous Employee in Horsham, PA
    Recommends
    Positive Outlook
    No opinion of CEO

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

    Pros

    Smaller company feel where you get to work across a broad number of areas.
    Working to gain market share in specific areas.
    Good culture.

    Cons

    While there are good opportunities, advancement is somewhat limited unless you work in certain areas.
    Contributions across areas are not always valued equally.

    Advice to Management

    Leverage the skills of middle management who understand the business and challenges.
    Focus on meaningful growth opportunities and reward loyal and skilled associates.


  4. "Managing Partner full of hot air"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President in Overland Park, KS
    Current Employee - Vice President in Overland Park, KS
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Simply nothing other then Penn's record of paying dividends for past 9 years.

    Cons

    I was directly recruited to fill a VP role and help recruit & train new advisors. Everything I was told turned to be 180% different before signing. To say I was misled and lied to wouldn't scratch the service. I have 25 years in the biz, horrible on boarding process. Young middle manager doesn't have a clue, what a waste of my time.

    Advice to Management

    Be Honest, say Hi at least once a day to new hires. Don't gloat and tell us all the money you make and you expect us to work for free. Your current outlook for success I would rate as very poor.


  5. "Run for the Hills"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Analyst in Horsham, PA
    Former Employee - Analyst in Horsham, PA
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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

    Pros

    Great upper management staff. Pay is descent.

    Cons

    No upward mobility.
    Salary begins to lack due to horrible raises.
    Awful middle management

    Advice to Management

    Become unison and one. If you make a rule for one make sure you follow that rule for everyone and not pick out your favorites.


  6. Helpful (1)

    "Career Life Agent"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Carer Life Agent in La Jolla, CA
    Former Employee - Carer Life Agent in La Jolla, CA
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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

    Pros

    The office in La Jolla is very nice and professional.

    Cons

    No track to run on. If you are new to the business, their plug & play training will not provide you what you need to get your business off the ground. It's a sink or swim environment...You better be a go getter, or you will not be there after 90 days!

    Advice to Management

    Take management classes. Follow through with what you say. Get in the trenches with your sales team. Learn what part of the sales process your agents need help with


  7. Helpful (1)

    "Financial Adviser / Financial Professional"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Adviser in Redwood Shores, CA
    Former Employee - Financial Adviser in Redwood Shores, CA
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

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

    Pros

    Base salary to start, competitive product

    Cons

    poor benefits, lack of support, over promises and under deliver

    Advice to Management

    The management team says one thing and does another, too many promises and rarely delivers. Too many of these situation has occurred during the time I was employed. The infrastructure of the organization was almost none to existence, no formal training program.

  8. "Penn Mutual is a Great Company"

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

    I have been working at Penn Mutual full-time (More than 3 years)

    Pros

    Everyone at the Home Office is so collaborative and supportive. It is great to see everyone work together so effectively. To top it off, Penn Mutual had a great year and it was so nice to see that our bonus was 103% and we are receiving a 4% profit sharing bonus into our 401k retirement plan. That is like icing on the cake.

    Cons

    Fitness Instructor Availability. There is only one fitness instructor available and times are very limited due to a lot of employees using him. The company should try to get another fitness instructor. That's a good problem to have when you have that many people using the fitness center.

    Advice to Management

    Keep up the great work!

    Penn Mutual Response

    Mar 7, 2017 – Senior Vice President and Chief Human Resource Officer

    Thanks for your feedback. We were pleased to announce that we had another successful year. The company's success is everyone's success and we love giving back to our associates. I'm happy to hear ... More


  9. "Wonderful Company"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Executive Assistant in Horsham, PA
    Current Employee - Executive Assistant in Horsham, PA
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Best place I have ever worked. Employees are truly happy to be here. It is a very employee-focused company that gives great recognition and awards to its associates. My boss makes me feel valued and that I'm an important contributor. There is a great sense of inclusion.

    Cons

    It's a big company with lots to learn, from navigating the building to learning all the acronyms and roles of each department.

    Advice to Management

    It is good to be seen mingling and taking lunch.


  10. "Corporate Tax Analyst"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Horsham, PA
    Current Employee - Anonymous Employee in Horsham, PA
    Recommends
    Positive Outlook

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

    Pros

    The people are honestly the greatest. Everyone is so happy and eager to help. The newly revamped cafe is also great!

    Cons

    Honestly can't think of any except except for something as silly as the office doesn't supply free coffee.


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