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Working at MassMutual Financial Group — Reviews by Employees

Learn what employees have to say about MassMutual Financial Group pay, work/life balance, care potential, job security, and much more by reading our anonymous employee reviews.

Reviews of Jobs at MassMutual Financial Group

4.7Rating Details
Category
Pay5
Respect5
Benefits5
Job Security5
Work/Life Balance4
Career Growth5
Location5
Co-Workers4
Work Environment5

From Chicago IL — 12/28/2009

I love love love working at Water Tower Financial Partners. I was so frustrated at all the comments I saw on here about how terrible working at Mass Mutual is that I decided to give them praise. First of all, I am an agent. My salary, job security, career potential, and work/life balance are wonderful because I am the only one in control of them. The management team is wonderful!! They are there every step of the way for me, making sure that all my hard work pays off. I understand other offices might be different but that is not Mass Mutual's fault. It is the people who make up the office that make it hard to work in. I was with another insurance company before this and Mass is above and beyond better at everything they do to help agents be successful. The compensation packages are amazing!! I am so happy I made the switch. I love working with my clients and I even enjoy my fellow agents! I tell everyone I know who is motivated enough to work for themselves to come and talk to us. Mass Mutual is a great place to work!
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3.2Rating Details
Category
Pay4
Respect4
Benefits5
Job Security4
Work/Life Balance3
Career Growth3
Location1
Co-Workers3
Work Environment3

From Springfield, MA — 05/04/2009

My ratings give the company the benefit of the doubt, but really it's such unfullfilling work. Repetetiveness and unnecessary tasks. Daily tasks are mundane and there is not much done to keep staff inspired. I've seen a decline in this, since I've been there.
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4.1Rating Details
Category
Pay4
Respect4
Benefits4
Job Security5
Work/Life Balance3
Career Growth5
Location5
Co-Workers4
Work Environment4

From Springfield, MA — 04/15/2009

I worked for MassMutual for several years before moving on. They definitiely have a "pay for performance" culture. I found that if I worked hard and produced quality results I was rewarded with promotions and significant salary increases. Some of my peers were content to put in their 40 (or fewer) hours and they didn't make out so well at compensation time. In summary, MM is a great place to work for those who care about doing a good job.
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4.9Rating Details
Category
Pay5
Respect5
Benefits5
Job Security5
Work/Life Balance5
Career Growth5
Location5
Co-Workers5
Work Environment5

From Cincinnati, OH — 09/19/2008

I switched over from after spending five years with a Wall Street based company. The atmosphere here is 360 degrees the oppisite from where I came from. I've found it to be very relaxed and my co-workers have been nothing but excellent in helping with the transition. I didn't get benefits at my last company. We were constantly told we are independent contractors but they wanted to control everything we did. So much for being independent.

At MassMutual I can do the complete job for the client and I can pick the products that I feel are best for the client. They have given me every tool I could ever ask for and more. I control my own growth. My licenses have only been switched for the past three weeks and I've already earned over $25,000.

I'm am very glad that I made the switch.
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3.7Rating Details
Category
Pay4
Respect4
Benefits3
Job Security3
Work/Life Balance5
Career Growth5
Location5
Co-Workers2
Work Environment4

From Holyoke, MA — 08/23/2008

I'm a MassMutual sales agent, also known a "financial services professional". Overall, it's not a bad way to break into the business. Like most sales jobs, you are expected to make a list of people to call on and attack that list from the get go. The beginning can be rough because you are expected to try to sell lots of whole life insurance to your close relatives. Of course, you have tremendous access to all types of products like disability income & LTC insurance and annuities. Another perk: you are not held captive to MM products exclusively. Just know that if you are new you will be steered toward whole life and some DI. If you want to branch out more, you will need to figure out how to do this. Fortunately, there is a tremendous group in place (Producer Services) that makes a great resource to help you with just about anything.

There are several financing packages for new agents to help agents get going: "all-incentive", a decliing subsidy, and a hybrid. Basically, the all incentive gives you extra money based on commissions from LAD (life+annuity+disability). The decliing subsidy is a 2x/month check that goes down regularly over time (because you are presumably making more and more from regualr commissions). Go through the details carefully with your recruiter.

Commissions from insurance sales are good and trails (residual pay) is substantial over time. MassMutual annuities are pay ok. One huge positive is that you are selling products of the highest quality. I'd rather be a little pricey with something good than be cheap with something that may seriously mess up someone's finances.

You will be encouraged to take the series 6 (to sell variable annuities and mutual funds) shortly after being hired. They do not stop you from going for the series 7 (general securities) but it isn't encouraged either. To be fair, you aren't likely to use it unless you are gung-ho about stocks or REITS. Just remember that insurance companies are conservative by their nature and you will need to hunt down support if you want to break into this line of business. (You should probably be thinking of a wirehouse if you really want to go this way). Even if you like investments, don't discount how much good you can do for the average person's finances by keeping them in safer, stable things like permanent insurance (whole, VUL, whatever you like) and securing their income with DI. I'm not completely sold on dumping huge amounts of money into a whole life retirement plan, though your manager will be (they are paid on override on your LAD commissions, I don't think they get anything for mutual funds or other investment sales).

Being an independent contractor, you get to set your own hours and do things largely "your way". The price for this is you are responsible for your own paycheck. Success depends on prospecting for new clients. You are dead when you run out of people to call. Sitting at a desk wondering what to do next is the worst feeling in this job. Either you will get enough business from your natural market to get going or you will be cold calling (and leaving shortly thereafter). Sometimes you get "orphan accounts" thrown your way too - but don't count on these to be plentiful or good.

You will receive a lot of training (and pressure) to get referrals from clients. If you can do this you will have a long successful career. This is a sales job. If you think you can hack it, it's definitely worth a shot!
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