What it does: Sun Life Philippines offers financial planning and guidance services, as well as products for health, life insurance, and investment.
Best known for: Sun Life Philippines claims to be the first and oldest life insurer in the country.
Staff stats: more than 1,000 employees
Financials: Php8.21 billion in net income for 2020
The good bits: Sun Life Philippines ranks among the Top 100 Graduate Employers in the country. Fresh grads can also explore a career in 16 departments at the company.
The not-so-good bits: Many insiders said that career growth can take a glacial pace at Sun Life Philippines. Fresh grads may notice an intense level of internal competition if they join the company.
Sun Life Philippines started in 1895, making it the first life insurer before the country’s independence in 1898. The company initially operated through the representation of British trading firm H.J. Andrews and Co.
More than 125 years later, Sun Life Philippines has recorded tremendous growth. In 2019, the Philippine Insurance Commission ranked the company as the top life insurer based on premium income.
Sun Life Philippines continues to be a dominant industry player by offering competitive financial planning and guidance services. The company’s primary products not only focus on life insurance but also health and investments.
Sun Life Philippines’ culture hinges on people—customers and employees alike. It strikes a balance between ‘corporate values and well-rounded life.
As a life insurer, the company values integrity first and foremost. Insiders describe the workplace environment as competitive, but it fosters productivity because it compels people to excel in their fields.
The biggest challenge, however, involves sluggish career growth for fresh grads who join the company. A likely reason: internal competition. Sun Life Philippines also has a large workforce, so new hires should be assertive and embody the company’s values to stand out.
Sun Life Philippines’ biggest competitors include AXA Philippines, BPI-Philam Life Assurance, Manulife Philippines, and Pru Life Insurance.
Sun Life Foundation has taken care of the company’s corporate social responsibility since 2007. The foundation focuses on financial literacy for its programs, as well as projects for arts and culture, education, environment, and health.
In 2020, Sun Life Foundation donated Php15 million to the Project Ugnayan initiative for the benefit of 1.5 million families. It also donated 8,000 disposable personal protective equipment and more than 7,000 ND95 masks to the Ligtas Pilipinas Campaign.
Fresh grads should prepare for a challenging work environment at Sun Life Philippines, especially if they want a promotion. A highly competitive workplace can be a good thing for those with the right mindset.
In exchange for excellent performance, Sun Life Philippines rewards qualified employees with extensive learning and training programs. There’s also a chance for them to work overseas given the right circumstances
Pre-screened applicants may have to wait for several weeks for an initial interview after applying online for a job. Sun Life Philippines takes this long to contact candidates because it collects and reviews applications.
In general, fresh grads should expect to go through four stages of recruitment:
The initial interview may last for at least 30 minutes, while the final interview may take up to one hour. Based on previous applicants’ experience, the pre-employment exam consists of basic English and math questions. It also included puzzles and a personality test.
Sun Life Philippines usually completes the hiring process in 18 days. Entry-level roles and on-the-job training applicants may finish the recruitment process in just one week.
The average monthly salaries for entry-level jobs at Sun Life Philippines range from Php15,000 to Php26,000. The benefits package also varies per team.
For instance, the company subsidizes the exam fees of Actuarial Student Program participants. They also get paid time off from work for their studies. Employees get incentives when they pass the exams.
Sun Life Philippines’ company-wide benefits include but aren’t limited to:
New hires also undergo extensive learning through online training, skill-based classroom courses, and structured self-study resources. Sun Life Philippines also assigns employees to work in an international office on an as-needed basis.
Entry-level roles at Sun Life Philippines include analyst programmers, client care associates, frontend developers, and group claims analysts. Tech grads can also join the company as solution designers (eg UI engineers.
Sun Life Philippines provides fresh grads with different areas to explore a career by having 16 departments:
Employees from the actuarial team, for example, gain as much support as necessary to become actuaries. Sun Life Philippines’ Actuarial Student Program helps them to ace the qualifying exams for aspiring actuaries.
The program expands employees’ professional network by becoming members of professional associations and attending professional events (eg seminars).
Sun Life Philippines also invests in employees’ professional development by offering local and international leadership programs. The company also provides technical training and tuition assistance