Pros
Munich Re offers the typical benefits of an insurer: + Less competitive coworkers + Respectful, friendly people + Humane working hours On top of that, the upper management is very competent with a clear vision and a game plan.
Cons
If you are somewhere in your 30s and have experience at a larger financial institution, the following will interest you: - Small salary: 50-60% less than at banks or asset managers. While the base may look similar, there is a low cap on the bonus. The whole compensation system is very rigid and you might get a raise every five years, if you are lucky. - No room for promotions, since there is only 'Junior and Senior' (and not VP, ED, MD, etc.) - Image: You will be viewed by other companies (and especially recruiters!) as insurance employee, which might affect you further career development. What bothers me most however, is the fact that the people who recruited and hired me intentionally kept me in the dark on compensation and career development, because they knew that otherwise I would not have joined.