BMW Financial Services Reviews | Glassdoor.com.au

BMW Financial Services Reviews

Updated 2 June 2018
93 reviews

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3.6
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Ed Robinson
46 Ratings

93 Employee Reviews

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Pros
  • "Best in class benefits and company car program" (in 14 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 (6)

    "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 (11)

    "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 (11)

    "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.


  4. Helpful (8)

    "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


  5. "Working atmosphere"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    Great team, friendly people, Supportive culture, teamwork...In general was a great combination from working and having fun while work.

    Cons

    Difficult to stay after internship


  6. "contract management specialist"

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

    I worked at BMW Financial Services full-time

    Pros

    have a chance of meeting a lot of people

    Cons

    the work there was kind of boring in the operations department


  7. "Awesome"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Class A Truck Driver in Livermore, CA (US)
    Current Employee - Class A Truck Driver in Livermore, CA (US)
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    People trying and has a relaxing atmosphere

    Cons

    I can't think of any cons

    Advice to Management

    None

  8. Helpful (1)

    "Great company with a forward thinking culture, but many executives do not have US experience."

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

    I have been working at BMW Financial Services full-time (More than 10 years)

    Pros

    Recently transitioned to a more forward thinking organization.
    Iconic brand with an exciting product line.
    Best in class benefits and company car program.
    Talented pool of motivated associates.

    Cons

    Most of the executive level leaders have transitioned to expats over the last 3-5 years.
    Most executive level leaders have little or zero experience in the US.
    “Central” corporate culture stronger than in the past.


  9. Helpful (1)

    "Premium brand. That's all"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Marketing in Los Angeles, CA (US)
    Former Employee - Marketing in Los Angeles, CA (US)

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

    Pros

    Able to experience premium German-made cars.
    Work and life balance is relatively good.

    Cons

    Salary is not premium.
    A financial company itself can't do anything. The sales company decides everything in a market and the financial company is there just for supporting them.

    Advice to Management

    Please try to hear voice of employees.


  10. "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.


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