Munich Re reviews

- It's a reinsurance company so they focus on growing actuarial talent. If you are joining any of the supporting teams like HR, marketing, accounting, etc. then you will be treated as an inferior part of the company structure. - There is no opportunity to grow in the supporting teams - Company promotes feedback culture to escape accountability for bad management. Continuous conversation program is flawed because it ignores the unequal power structure between manager and team members. Managers are given too much power because continuous culture is so ambiguous. And there is no room for providing feedback upwards. -The small supporting teams operate extremely lean and have a cut throat attitude when it comes to performance -Does not care if employees are overwhelmed or stressed. Will offload projects with unrealistic deadlines. Taking time off is often looked down upon. -During the pandemic employees did not receive bonus but shareholders did receive dividend -HR provides little to no support -Lots of bureaucracy since it's a multinational

-Recent change in compensation structure towards a socialist model which resulted in lower pay, based on global performance rather than individual performance with NO bonus paid during COVID for all staff who worked harder than ever. Low pay for amount of hours worked -HR has way too much power at this firm to the detriment of staff. Lack of transparency in decisions. -Challenging yet thankless workload. Incompetent middle-management. Lots of micro-management on projects. High-pressure from management, yet they are completely removed from the day-to-day work, putting lots of performance pressure on the actual doers. -Very political and conservative environment, between co-workers and between cross-functional teams. -Rewards and promotes a snake-y culture. Lots of toxic and arrogant colleagues in high positions. Lots of gatekeeping -Lack of recognition. Certain teams constantly glorified to the whole company, while other teams are never recognized but are just as important -Lean structure. Moderate turnover, but very slow to hire new people, which causes high workload on current staff -Lots of old-timers set in their ways. Averse to learning new technology. bad laptops. IT infrastructure not great -Difficult to make career progression with very slow promotion (you will do the role you are promoted into for at least 6 months before actually being recognized/compensated for it). Old-school performance model largely based on years of service/waiting for people to turnover