Mercer FAQ

Have questions about working at Mercer? Read answers to frequently asked questions to help you make a choice before applying to a job or accepting a job offer.

Whether it's about compensation and benefits, culture and diversity, or you're curious to know more about the work environment, find out from employees what it's like to work at Mercer.

All answers shown come directly from Mercer Reviews and are not edited or altered.

60 English questions out of 60

June 6, 2019

Does Mercer offer massages?

Pros

Both side cabs Free meals and good work life balance

Cons

Too much politics in ANZ. Poor management and low hikes

Advice to Management

Stop favouritism

Free meals and good work life balance

June 6, 2019

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March 17, 2020

Does Mercer offer relocation assistance?

Pros

Colleague are helpful and try to do the best for clients, which is not made easy for them. The overall benefit package is fairly competitive, i.e pension etc.

Cons

MFP was created predominately from the takeover over of Jelf Financial Planning (JFP). JFP was a well-regarded Wealth Management business, endorsed by client service accolades alongside an experienced and capable Adviser Team, many of whom were Chartered, underpinned by an effective and energetic Management and Support Team. Clients were genuinely front and center of the overall advice and service proposition. Since Mercer took over, it’s reasonable to say that the Financial Planning business has taken a major backwards step. The underlying reason has been poor management – harsh but fair. Most of the current Management are from the pre RDR world, with very limited technical knowledge & know how, which negatively impacts the business’s decisions & direction, but also their ability to deliver effective coaching and development. A significant number of the Advisers & Support Team members have chosen to leave the business over the last 3.5 years, c19 Advisers have left, with a similar number of experienced Support staff. Client Service has understandably suffered, Advisers regularly wait months for a financial report. Admin errors, mistakes and complaints are endless. The Client investment offering is due to take a major step back, with a new CIP effectively creating a ‘SJP’ style vertically integrated business, which will see Mercer Funds having to be recommended first and foremost due to the additional revenue earned from these funds alongside the advice fee. A CIP with such a restrictive approach is understandably a red line for most Adviser who want to ensure they can provide best advice for their clients. New Business targets & focus has increased considerably, driven by short term profit / NOI demands from the business, which has resulted in a perception that existing clients are secondary. Completing such new business targets will be ‘challenging’ given the headwind of Support issues. The remuneration scheme contains a significant ‘holdback’ element of 50%, which is subjective in its payment / release, and is heavily dependent on revenue results. Company obsession for NOI / EBIT is a likely harbinger for disaster MFP was created predominately from the takeover over of Jelf Financial Planning (JFP). JFP was a well-regarded Wealth Management business, endorsed by client service accolades alongside an experienced and capable Adviser Team, many of whom were Chartered, underpinned by an effective and energetic Management and Support Team. Clients were genuinely front and center of the overall advice and service proposition. Since Mercer took over, it’s reasonable to say that the Financial Planning business has taken a major backwards step. The underlying reason has been poor management – harsh but fair. Most of the current Management are from the pre RDR world, with very limited technical knowledge & know how, which negatively impacts the business’s decisions & direction, but also their ability to deliver effective coaching and development. A significant number of the Advisers & Support Team members have chosen to leave the business over the last 3.5 years, c19 Advisers have left, with a similar number of experienced Support staff. Client Service has understandably suffered, Advisers regularly wait months for a financial report. Admin errors, mistakes and complaints are endless. The Client investment offering is due to take a major step back, with a new CIP effectively creating a ‘SJP’ style vertically integrated business, which will see Mercer Funds having to be recommended first and foremost due to the additional revenue earned from these funds alongside the advice fee. A CIP with such a restrictive approach is understandably a red line for most Adviser who want to ensure they can provide best advice for their clients. New Business targets & focus has increased considerably, driven by short term profit / NOI demands from the business, which has resulted in a perception that existing clients are secondary. Completing such new business targets will be ‘challenging’ given the headwind of Support issues. The remuneration scheme contains a significant ‘holdback’ element of 50%, which is subjective in its payment / release, and is heavily dependent on revenue results.

Advice to Management

Take the time to look at your annual staff surveys and exit interviews feedback, which colleagues have taken the time to complete -with the goal of getting things better. The 2018 survey was never even published!

The overall benefit package is fairly competitive, i.e pension etc.

March 17, 2020

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August 23, 2019

Does Mercer offer dental insurance?

Pros

The experience is great and there is room for promotions within the first year and a half. Mercer has / had multiple lines of business and based on business needs, you may be assigned for special projects to broaden your knowledge in other departments. Position was based on KPI’s which are strategically attainable. Only reason I stayed with the company for my duration was the colleagues I met throughout the duration of my time. Benefits such as PTO / medical are generous. Corporate environment with a somewhat relaxed dress code. Role specific licensing is provided by the company. Company culture and diversity are overall good.

Cons

Contact center employees are undervalued and expendable. Management changes consistency. Communication severely lacks throughout all departments. - especially on time sensitive correspondence. Year end performance review is based on favoritism and not based on KPI’s as outlined. (KPI’s were at a 4 rating but received a 2 and when rebutting, was told that other factors were included in the rating that are not stated) Office politics / gossip is a thing. Promises that don’t get delivered. Position becomes immobile after some time. On boarding / terminating process is essentially non existent, so be prepared to get thrown to the wolves and make your own arrangements when leaving.

Advice to Management

Treat employees fairly, there’s a reason for a high job abandonment / turnover. Keep scheduled feedbacks with colleagues. Recognize when BC’s go above and beyond.

Benefits such as PTO / medical are generous.

August 23, 2019

See answer

October 15, 2019

Does Mercer have a pension plan?

Pros

Real flexitime, pension benefits, as a whole the company takes care of their staff

Cons

This is not a comment on the company as a whole - limited to accountability in digital business units. Seems that there are no real chiefs - lots of confused indians who think they are chiefs. Staff take advantage of flexitime and are often absent or unavailable which affects ones ability to get projects done. Middle management just not interested in seeing projects completed efficiently. or correctly. Surprising for a management consulting firm.

Advice to Management

Your management needs to be reeled in - they are taking advantage of time and resources setting bad examples for their teams.

Real flexitime, pension benefits, as a whole the company takes care of their staff

October 15, 2019

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November 16, 2021

Does Mercer offer parental leave?

Pros

Good pay, good benefits, good people, opportunity to sit either CFA or FIA exams paid for by company

Cons

expected to work late often

Good pay, good benefits, good people, opportunity to sit either CFA or FIA exams paid for by company

November 16, 2021

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60 English questions out of 60

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