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BMW Financial Services Reviews

Updated 12 January 2018
87 reviews

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3.1
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Ed Robinson
42 Ratings

87 Employee Reviews

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Pros
  • Plenty of PTO, Healthcare, 401k, Car Program (in 13 reviews)

  • This company has Great benefits, schedules are sometimes difficult but they give you ample time off (in 9 reviews)

Cons
  • It is a fancy call center in some parts of the building (in 7 reviews)

  • If you're a temp there isn't a lot of opportunities for you to advance to be a full time BMW employee (in 6 reviews)

More Pros and Cons

  1. Helpful (3)

    "Corporate sociopaths"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Alphera Sales Manager in Mulgrave
    Current Employee - Alphera Sales Manager in Mulgrave
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at BMW Financial Services full-time (More than a year)

    Pros

    Real insight into what it is like working for corporate dictators that break the law solely at the expense of profit and claim ignorance.

    Cons

    Must be something in the air, many mangers claim amnesia when questioned on decisions they make within the company to avoid blame for poor management decisions.

    Advice to Management

    Stop the 3 year holiday expats they dont understand what it is like working in regulated markets and dont care


  2. Helpful (8)

    "Wasted"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Regional Operations in Mulgrave
    Former Employee - Regional Operations in Mulgrave
    Doesn't Recommend
    Negative Outlook

    I worked at BMW Financial Services full-time (More than 3 years)

    Pros

    Location: SE suburbs of Melbourne meant you didn't have to fight traffic
    Fuel: If you are graded at 6.5 and above the company pays for your fuel (Only if you drive a company car, which you have to pay for - See Cons)

    Cons

    Salary: Pays below industry average, you salary package is highly inflated due to them incorporating a valuation of your company car - what it would cost to lease it under a Novated Lease Agreement. It would be not inaccurate to suggest that a total package of $85k offered would be made up of a base salary of $60k + Super @ 9.5% + 15% Bonus (Grade 6.5) + Vehicle Valuation (Approx. $15k for a 3 Series)

    Company Vehicle: In addition to the above, if you wish to drive their vehicles it will cost you roughly $430 per month for your default allocated vehicle.

    No L&D: Want to do a course or get certified or get sponsored for your: CA/CPA, LSS, Agile PM or anything of substance? Forget it. The company does not see any value in sending you to any of these course or conferences and when they do they only send managers they like. However it should be noted that there's a underhanded method they employ where they rewrite your JD's and add formal qualifications to restructure you out if you don't meet these new requirements.

    Performance Appraisals: They adopt a process called portfolio review which you are scored 1-5 for target achievement and 3 other areas of Leadership based on the Management House - Managing Business, Leading People, Leading Yourself. In theory this appraisal process works however your score depends on whether or not your manager likes you and put his reputation on the line to score you above a 3. In cases where they do score you on anything higher than a 3 it needs to be endorsed by the leadership team who will challenge the score and compare you to another associate which may or may not be responsible in the same areas of work, or even do the same amount of work, or deal with the same complexities - This is quite often the case for teams where tasks are divided and conquered or in project teams and often the peers in which you are compared to are on different/job pay grades anyway. Your targets are often misaligned with your job description and as a result you are forced to achieve targets and are given responsibilities outside your JD and usually your pay grade. This stems from a inherent expectation from LT and all managers to over achieve.

    Promotions/Salary Increase: Apart from CPI adjustments, this is non existent due to the above unless you change roles into a position that his considered more advanced than your current position. In this case HR tend to steer you towards signing an addendum that advises that no changes to your contract occurs unless superseded by a new one. Depending on which part of the year you change roles if it's not aligned to the Portfolio dates (new contracts and revision of your remuneration only occurs during OCT and is effective APR the year after) you pretty much work your new role, for the same pay as your old one for 12 months because "in order for us to change your salary we need to assess your performance for that portfolio year and since you haven't performed your role for a year you need to do so first" Once you to get a revised remuneration you, will come to the realisation that you would have been better off doing less work in your old role and be paid the lousy increase for the blood sweat and tears you put into your new role. In instances where opportunities are advertised, it's usually a formality as they already know who they want in that role. Whether that person is actually suitable/capable does not appear to be a factor.

    Questionable HR Department: Avoid like the plague; they actively work against you. If you are in the firing line of any LT members, they will stop at nothing to get rid of you. This can happen a number of ways: Formal complaints which have been cooked up, Assigning blame (eg. Recent ASIC/Responsible lending debacle), Under performance, demoting, restructuring out.

    Convoluted Processes: Complex authority matrix means you need to get 3 levels of approval before the COOs approval to get catering for a training/workshop -
     Which in the past has been rejected - The amount requested was something around $200 for workshop of 10 people. Their finance and controlling department leaves much to be desired.

    Advice to Management

    No amount of advice can fix these people, they simply do not listen - They are corrupt to the core and foster a toxic culture where talent, hardwork is ignored, under qualified/educated, brown-nosers, long-tenured and fast talkers are promoted into management.


  3. Helpful (10)

    "Disappointing"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Mulgrave
    Current Employee - Anonymous Employee in Mulgrave
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at BMW Financial Services full-time

    Pros

    New building with good facilities and staff fleet vehicles. Professional recruitment through Easton RNA recruitment

    Cons

    Improving compliance culture when compliance department resigned due to lack of respect and their department being called a dead horse at all associates meeting

    Advice to Management

    Get rid of 3 year contract for expats and get managers local that have experience and committed to long term change. Australian market shouldn't be treated as a holiday destination by overseas directors.


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  5. Helpful (7)

    "Not a great environment"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Regional Manager in Melbourne
    Current Employee - Regional Manager in Melbourne
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at BMW Financial Services full-time

    Pros

    Company car replaced every 3 months

    Cons

    Very political with many games played

    Advice to Management

    Try to engage with staff rather than protecting yourself


  6. "Employer"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook

    I have been working at BMW Financial Services full-time

    Pros

    Good company car scheme.
    Opportunities to to work in other countries.
    Good pension scheme and benefits.
    Good exposure to the business.
    Flexible working.

    Cons

    Difficult to get promoted.
    Slow pay rise progression.


  7. Helpful (2)

    "Clean House"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook

    I worked at BMW Financial Services full-time

    Pros

    *Great benefits

    *On site health center

    *Free coffee

    *Nice cafeteria with discounted food

    *Can lease a new BMW at a discount

    Cons

    *In some departments, unqualified people are getting hired on and others have to pick up the slack

    *Some people are just doing the minimum or pretending to work and waiting it out for retirement.

    *Some co-workers have no motivation to be there, it's just a job to them, not a career

    *Some people are abusing sick days and PTO

    *Some people look unprofessional, it seems like they just rolled out of bed and went to work.

    *Salary not competitive with market

    *No defined career path, seems like a dead end job in some departments

    *Some people never leave their cubicles other than to use the restrooms, they eat, socialize (IM), and work in their cubicles all day long

    Advice to Management

    *Hire people who are qualified and pay them a good salary to retain them

    *Get rid of people who bring no value to the organization and who have no aspirations to improve themselves and/or improve the organization

    *Hire people who look professional and who take care of their bodies through proper diet and exercise

    *Have a dress code, business casual should be the minimum and shirts should be tucked in and clothes should be ironed. Also, no jeans. Those who don't confirm to professional dress standards should be told to go home and straighten themselves out and then come back. Also, they should be written up for this.


  8. "Retail Settlement"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at BMW Financial Services full-time

    Pros

    Great company with positive culture

    Cons

    simple repeated work, you do not need any skills


  9. "Voted Best Place To Work for a Reason!!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Business Analyst in Hilliard, OH (US)
    Current Employee - Senior Business Analyst in Hilliard, OH (US)
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at BMW Financial Services full-time (Less than a year)

    Pros

    Value Employees, Strive for not only company success but their employee's success, Benefits are great, Friendly and Stimulating work environment, Provide a great mix of training and social gathering opportunities.

    Cons

    I've been here 1 1/2 years and do not have any cons to share.

    Advice to Management

    Keep up the Great Work of putting employees and customers FIRST.


  10. Helpful (1)

    "Credit Underwriter Automotive West Region"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Hilliard, OH (US)
    Current Employee - Anonymous Employee in Hilliard, OH (US)
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at BMW Financial Services full-time (More than 8 years)

    Pros

    Strong Health Care Benefits. Good PTO. Work / Life Flexible. Car Program. Cafeteria.

    Cons

    Pay is not as competitive, but overall benefits help. Who you know and how you are perceived is critical.

    Advice to Management

    Increase in pay. Reward the most dedicated and loyal workforce.


  11. "Case Manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Case Manager in Columbus, OH (US)
    Former Employee - Case Manager in Columbus, OH (US)
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    I worked at BMW Financial Services (More than a year)

    Pros

    A lot of time to bond with co-workers
    Employee Car Program

    Cons

    Call center environment
    High Turnover rate

    Advice to Management

    More training on how to handle irate customers


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