MLC Reviews

Updated 12 Jan 2021

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2.9
30%
Recommend to a Friend
28%
Approve of CEO
MLC CEO Andrew Hagger
Andrew Hagger
29 Ratings
Pros
Cons
  • "Poor investment culture and very poor leadership(in 5 reviews)

  • "I explained to my team leader at the time that I was still new and being told I was going to get fired which i thought was unfair(in 5 reviews)

More Pros and Cons
Pros & Cons are excerpts from user reviews. They are not authored by Glassdoor.
  1. "Great Company"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Diversity & Inclusion
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Records Management Specialist in Sydney
    Recommends
    Positive Outlook

    I have been working at MLC full-time

    Pros

    Great Culture, great leadership, great service

    Cons

    Currently owned by NAB but is being bought by IOOF

  2. "Terrible culture, awful management - Don't bother with MLC Life Insurance"

    1.0
    • Work/Life Balance
    • Culture & Values
    • Diversity & Inclusion
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Melbourne
    Doesn't Recommend
    Negative Outlook
    No Opinion of CEO

    I have been working at MLC full-time for more than 5 years

    Pros

    Flexibility is great. Location is good. Great colleagues with good experience

    Cons

    Toxic environment. Terrible leadership and decision making. New management has no clue. Unethical, aggressive behaviour by senior leaders is standard. Employee morale has been low for the last few years, staff turnover is high, restructures twice a year and training and development is non existing. They work you to the ground - overload you with work until you cant take it anymore. The company is in major financial trouble with capital injections by NAB and Nippon every year. So tread carefully. They do culture surveys every year but feedback is never taken onboard.

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  3. "MLC"

    5.0
    Current Employee - Associate in Melbourne

    I have been working at MLC full-time

    Pros

    Good benefits, great investment in education

    Cons

    Currently in care taker as there is a sale for IOOF

  4. "Awesome experience, great people and network, but business and practices leaves a lot to be desired"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Diversity & Inclusion
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Software Engineer(Internship) in North Sydney
    Recommends
    Positive Outlook
    No Opinion of CEO

    I have been working at MLC full-time for less than a year

    Pros

    - Everyone is friendly and happy to help out - Learn a lot of things at once, from frontend all the way to DevOps and infrastructure - Management is great, EMs are really nice and helpful - Flexible, can go to uni and work full time (40 hours a week)

    Cons

    - treated low priority, business and other teams may sometimes remove funding arbitrarily or require changes after you have already done them - technology used is great, but held back by legacy code and decisions from years ago

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  5. "Good People"

    3.0
    Current Employee - Manager in Sydney

    I have been working at MLC full-time

    Pros

    good people good location opportunities waiting

    Cons

    continuous change settling period in progress

  6. Helpful (1)

    "Not worth it"

    1.0
    • Work/Life Balance
    • Culture & Values
    • Diversity & Inclusion
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Customer Service Repersentive in Melbourne
    Doesn't Recommend
    Neutral Outlook

    I worked at MLC full-time

    Pros

    The employees your work with are awesome and you get to learn more about superannuation

    Cons

    -No flexibility Below average pay The team leader is always changing Unattainable bonus structure Company outside of SLA so you will get a lot of grumpy customers, your literally a complaints line. Lack of communication between internal teams

  7. Helpful (2)

    "Avoid life the plaque!"

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Melbourne
    Doesn't Recommend
    Negative Outlook

    I worked at MLC full-time for more than 3 years

    Pros

    Some nice talented employees who deserve better

    Cons

    The worst place I’ve ever worked! And absolute sh£t show. New management are toxic, have no relevant experience at all. Seems like it’s intentional to run this company into extinction. What they’ve done to their existing advisers is criminal.

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  8. "Insurance"

    3.0
    • Work/Life Balance
    • Culture & Values
    • Diversity & Inclusion
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Digital Product Owner in Melbourne
    Doesn't Recommend
    Neutral Outlook

    I have been working at MLC full-time

    Pros

    Fun team. Every day is different

    Cons

    Every day is different here

  9. COVID-19

    "Messy"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Analyst 
    Doesn't Recommend
    Negative Outlook
    No Opinion of CEO

    I have been working at MLC full-time for more than a year

    Pros

    Location in. North Sydney was good. Very fast to move to WFH during COVID times. Very clear communication from NAB around what’s happening. Clearly wants to move forward following NAB de-coupling. I thought Geoff Lloyd was a good CEO. A shame he is leaving.

    Cons

    Uncertain environment due to restructures, COVID, ELT indecision, and IOOF announcement. Led to a lot of delayed decisions, work going on hold, and decreased morale. A tumultuous period, but one I wish I hadn’t had to experience.

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  10. "Great colleagues, culture needs improving"

    4.0
    • Work/Life Balance
    • Culture & Values
    • Diversity & Inclusion
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Analyst 

    I worked at MLC full-time

    Pros

    Great colleagues who genuinly wanted to make difference. Separation from NAB should be positive. Decent pay. Some of the newer management hires positive.

    Cons

    Beurocracy hampers improvements. Lack of investment in technology has meant work far too manual which creates mistakes and risk. Management who are far removed from day to day operations making decisions without consultation of people who do the ground work, or if they do, they dont listen.

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