BMW Financial Services Reviews | Glassdoor.com.au

BMW Financial Services Reviews

Updated 8 September 2017
84 reviews

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3.1
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Ed Robinson
41 Ratings

84 Employee Reviews

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Pros
  • Plenty of PTO, Healthcare, 401k, 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 (2)

    "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.


  2. Helpful (7)

    "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.


  3. Helpful (4)

    "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


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  5. "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.


  6. "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


  7. "Great Car!"

    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

    Benefits, car program, and cafeteria.

    Cons

    Ability to move up corp ladder. Diversity in the top ranks.

    Advice to Management

    Diversify upper management. You're a gobal brand, make sure all people in each country is represented in upper management.


  8. "Good company to work for"

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

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

    Pros

    The team leads and employees are awesome! Nice cafe, doctor office in sight, PTO is amazing, car program rocks and there are endless opportunities!

    Cons

    The hours can suck. 9a-9p. But only mon-Friday for most departments. HR communication sometimes lacks as well. Customers can be rude

    Advice to Management

    Communication is key.


  9. "Cool Car, but That's About It"

    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
    Approves of CEO

    I worked at BMW Financial Services full-time

    Pros

    Company Car Program
    People
    There is honestly nothing else positive I can think of.

    Cons

    Terrible pay
    Very hard to move up in the company
    Management clearly does not care about its employees
    Expect you to work overtime and put your job above everything else


  10. "Customer Service"

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

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

    Pros

    Good for resume I guess. At least the 'Financial Services" part of BMW.

    Cons

    Where do I start? This position is a joke. The customer service position is the backbone of this whole company and is expected to run the show and do everything and is well underpaid. It takes a year to get hired on if you are lucky and suck up to management. Most other positions within the company really do nothing and it's pulling teeth to get them to do their job. No one wants to speak with a customer and we are expected to give them correct answers and results with no immediate advice. The other departments who specialize in their specific departments never answer their phones and the customers expect answers immediately and if they don't get them, they give negative reviews on your "scorecard". You will get "SAGE" which is call review "randomly" supposedly, but will fail calls for not advising the customer of the smallest and most insignificant things that they could care less about and we have no idea as to what most of the things are that will make you fail a SAGED call until you learn from failing over months of time. You have to follow-up with customers on everything, but it kills your scorecard to do so, which is how you get hired on and get a small raise. Way to much is expected to earn less than 30k. This is the most difficult position within the company by far and you have to handle calls for every possible situation that a customer would call in for and management couldn't even handle most of these calls correctly and won't give you all the information you need so that you won't fail a SAGED call because they don't even know all of the many different ways. You have to listen to other reps on ways they failed calls because everything is not listed in their SOP handout on ways to fail calls. You feel like you cannot even speak normally, due to walking on pins and needles as to whether or not you said anything to fail a call or if you said everything that needed to be said to not fail a call. Customers get tired of hearing you talk so you can get everything out that you have to cover so you don't fail a call. They say "I don't care about all of the other things you are telling me, are you done yet, just answer my question" and when you have to call other depts. to get a correct answer you are on hold forever, which kills your scorecard and you still don't get a correct answer because they usually don't know either, honestly, and they just redirect you to yet another dept to ask them. It's a wild goose chase non-stop. Way under paid for such an important and extensive role from a muti-billion dollar company. This is an account manager position disguised as a customer service. This position is the most difficult, annoying, and under paid position within the company and will take you a at least a year to get hired on if you are perfect in all aspects. They hire on about 1 person a month out of about 50 temps waiting a year for a position. They will flat out tell you that you need to smooze management more in order to get offered a position, even if you have perfect attendance and a great scorecard, which is the only thing that should matter and the scorecard is subject to any and every customer who gets automatically sent an email after any time they call for a review and let's face it, you will never make everyone happy, especially when they want out of their contract. There is a massive turnover due to being underpaid and the responsibility that is expected, coupled with failing calls from SAGE for the stupidest reasons that no one can give you a SOP of everything that will be included to make you fail a call. Very much expected for little pay.

    Advice to Management

    You do nothing all day except have your little meetings and have one-on-one coaching meetings (which is a joke) and couldn't do our job if you had to. Please give reps a "complete" SAGE list of things that we can fail a call for. If it's not on the list, how can we be expected to know it, except from rumor or to learn from failing hundreds of different ways. Pay us what we deserve and we won't quit like everyone else. Quit asking us temps for ideas on how to improve the business because you don't have a clue as to what really goes on and what we go through. Learn the business yourself, you're management of a multi-billion dollar company. Why would I tell you all of the many different flaws, mistakes, errors in the operation when you pay me less than 30k a year. Really, here's an idea, learn the business yourself. Help us make more money and operate the business correctly for a multi-billion dollar business because we don't have a clue what goes on ourselves and our customer service reps do everything for less than 30k. Hire good reps while you can before they move on. We will not wait a year doing that job for less than 30k. Make other depts. be accountable to actually answer their phones and do their job. Only we get held accountable for doing things timely and correctly. Every other dept, except customer relations can do what they want, when they want with no accountability because they have been there for many, many years and kiss up. Your loss, muli-billion dollar company. One good rep at a time. Must be nice to walk around all day and talk and go to "meetings". We are the only dept that cannot walk away. Unless it's a scheduled break, you are on the phones. Meanwhile, every other dept can walk around with no real accountability. Make them have a scorecard. Yeah, right! They are in the CLICK. Joke


  11. "Good place to work"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Intern in Farnborough, Hampshire, South East England, England (UK)
    Former Employee - Intern in Farnborough, Hampshire, South East England, England (UK)

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

    Pros

    A good environment to learn about Financial Services. Flexible working, managers are helpful and knowledgeable, senior managers are approachable. Overall a good company culture, doesn't feel massively corporate.

    Cons

    Although there are entry level jobs available for graduates, the grad scheme does is limited and does not run every year.


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