Bonus scheme pays out less than many MP competitors. Some would argue that its easier to make fees with MP brand behind you but when you compare bonus percentages to what other firms pay in commission it is pretty depressing for MP staff. There is both manager and director discretion on bonus figures. Your team likely to have 15% of profit (remember there is a lot of central costs on this, based on headcount) with your directors having discretion on a further 5%. Central costs are applied based on annual headcount, so if your team is one or two people down then the central costs are still applied, taking what can be a sizeable amount from the bonus pot. I'm sure your manager would be happy to explain how this works if he hasnt already.
Staff turnover is high. There is not a shortage of people who have been there 5/10/15 years - people who live/ breath MP. If you take this portion of the business out then turnover figures are pretty scary. How many people do you think leave within the first year. 40%? More?
Politics. Make no mistake MP is a political environment. Which Director/ MD do you work for? Who is he most closely aligned with. Same as any other corporate no doubt.
FIFO, Heard this term at MP? Ask your Director. On second thoughts, it may be better to check urban dictionary... (hint: Its nothing to do with Ohio, and it doesnt stand for first in first out)
Pay increases. Annual increases are poor. Its uncommon to see people get more than a few percent. This is mitigated by car allowance being added to package at end of year 1. Be ready to hear its about the bonus potential, not the basic.
Resigning is a fairly common way to get a payrise or transfer. Sometimes even a promotion.
New additions to the business will feel there is a stack of support, lots of people around willing to help. Once your manager/ director has decided whether you're going to make it or not the flip from support through to manage out of the business can be pretty quick. Wonder if MP HR still remind managers when staff are coming up for 9 months service. The cynical may argue this would be to ensure anyone who needs moved on is moved on before more employment rights kick in....
