FAQs on the graduate trainee programme

1. What is the relationship between entry via the graduate trainee programme and direct hiring for a concrete position?

Both forms of entry offer equal career perspectives. However, they differ in their professional training objectives and time structure. With a direct hire, training is specific — in keeping with the functional requirements of the position and the personal qualification profile. The graduate trainee programme aims at achieving an optimum compromise between in-depth professional training and breadth in qualifying trainees for positions after the programme. The specific position that a trainee will fill after training is in fact not known at the time the trainee commences the graduate trainee programme.

2. Can I apply simultaneously for the graduate trainee programme and as a direct hire?

We automatically review graduate trainee programme applicants for their suitability as direct hires as well. Subject to suitability, applicants for direct entry positions will be considered for the graduate trainee programme if they do not qualify for a direct entry position or if they state in their application that they wish us to consider them for the direct entry position as well as for the graduate trainee programme.

3. What qualified specialists are we seeking?

We are mainly looking for economists, business analysts and mathematicians specialising in business and economics, lawyers, industrial engineers. However, we are open to applicants with degrees in other areas of study, where the career path chosen shows evidence of a special affinity for reinsurance.

4. What degrees does Munich Re require from graduates?

We hire candidates with all officially recognised university degrees for both the graduate trainee programme and as direct entries.

5. What demands do we make of graduates?

We are looking for graduates who have completed their studies quickly, having obtained a exceptionally good degree in the theory and/or practice of topics relevant to (re)insurance and finance/economics. You should have a sensitive approach to the cultures of other countries, having spent at least three months working or studying in a foreign country. An excellent command of English and a willingness to improve your German are prerequisites. Preference will be given to candidates with a good knowledge of a further language. In addition, we are seeking candidates with first-rate analytical and business as well as interpersonal communication skills, the ability to work in a team, and an empathetic attitude. You will have put these qualities into practice, having worked for at least two months in an area with an analytical and communicative focus. As the trainee programme is designed exclusively for graduates with little or no professional experience, we wish to point out to candidates with work experience that direct entry positions are posted on our website (see Job Openings). Obviously graduates without little or no work experience can also apply for jobs here if they have the necessary qualifications.

6. Are there application deadlines and when can I start with the trainee programme?

As there are no application deadlines, you can apply at any time. If your application is successful, you can usually start on the first working day of any of the three subsequent months. In practical terms, therefore, you can start with the programme at almost any time. All you need to do is submit your application three to six months prior to the date you would like to start. See How to apply for further details.

7. How are trainees selected?

We first determine whether or not the applicant meets the general requirements for graduate trainee candidates (see 5). We integrate these candidates into a pool, from which we select candidates for interviews. From the interviews, we select the candidates to be invited to our "Assessment Centre". At the "Assessment Centre" we test your methodical, analytical and social skills in a half-day session. The dates for the Assessment Centres are agreed with candidate individually.

8. What are the contents of the graduate trainee programme?

See Reinsurance trainee programme for graduates — Training.

9. What are my chances of being immediately assigned to a position abroad?

The graduate trainee programme generally includes a training period (4—6 weeks) in one of the business units of our International Organisation. To qualify for long-term assignments, you must first acquire know-how and experience in our Munich Home Office. Of course, as part of the team you will be integrated into the network of our International Organisation and client relations from the outset. In other words, you will have many foreign contacts either through your own business trips or from client visits to Munich. After approximately three years, you will be in a position to take up a longer assignment abroad.

10. How many first-time employees participate in the Munich Re graduate trainee programme?

We recruit approximately 20 graduates every year for our graduate trainee programme.

11. What are the starting salaries for trainees?

Munich Re offers its staff an attractive remuneration system. The starting salary for trainees takes the qualification profile into account; the compensation being about €46,000 to €50,000.

12. What happens after the graduate trainee programme?

At the conclusion of the graduate trainee programme, trainees apply for a permanent position. You are not automatically taken on in the area in which you were trained; you are considered for vacant positions in the company in keeping with current demand. The Human Resources Division actively supports the recruitment of graduate trainees and will contact individual graduate trainees and their respective supervisors before the programme ends.

13. What kind of development opportunities would I have?

Your training and development does not end once you have concluded the graduate trainee programme. Your development also depends on the degree of your own initiative. In regular reviews with your manager you analyse your performance and discuss strengths, common objectives and development potential that remains to be tapped. We encourage and promote qualified young executives from within our own ranks by means of specially developed processes and support them with individually tailored measures.
See Development opportunities.

14. How or where can I get to know Munich Re better?

There are opportunities to become acquainted at various events: Dates

If you have any further questions, please do not hesitate to contact Silke Fell.

sfell@munichre.com