FactSet

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  1. 2 people found this helpful  

    Too many people disappearing these days...Replaced by recent college grads with little experience....

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Product Specialist in New York, NY
    Current Employee - Product Specialist in New York, NY

    I have been working at FactSet

    Pros

    Good people and fee soda (non-caffeine)

    Cons

    2 years ago FactSet was a great place to work. The problem with a young workforce is they never saw a recession. Now everyone is scared for their jobs and their is backstabbing left and right.

    With the Economy going bad, costs are being cut. People are disappearing left and right, but slowly, maybe one person a week. The problem seems to be some of these people were hard working, but made too much. A decent company gives people a severance package layoff. But by avoiding a " layoff" and doing something gradual, these people are not being given anything.

    Benefits are also being cut. I noticed managers of 10 yrs having their blackberry being taken away. The blackberry increases productivity. Home internet (since many people work from home after leaving) is also no longer reimbursed. Cutting costs is a good thing, but not when you are cutting productivity with it.

    Consulting and sales are being hit hard. Engineering and development are being spared.

    Another problem is the FactSet way is to promote internally (which is good in moderation). The problem is this does not hold for all positions which require education and skills. I have noticed people one year out of college being promoted to very analytical positions to replace people who made too much. In the past, a client used to ask the consultants/specialist (who were experienced) questions. Now it seems the consultants/specialist are so new they are the ones asking the questions. What's scary is after a few years these people will probably be replaced themselves.

    As the previous poster said, there's little of a career path. You may get a higher title and a little bit more money, but that's it. You are told to put in your time and be patient. But that's just to keep you there. When you are in your 30s and 40s and unemployed you better have done something during your time at FactSet (CFA, MBA?). Otherwise you will be wondering why you didn't take the job at Ernst & Young or Goldman Sachs like your friend out of college.

    Advice to ManagementAdvice

    Realize you need experienced people working at the company. Hiring college grads on the cheap is going to blow up when they can't probably troubleshoot issues with the analytic.

    Doesn't Recommend
    Disapproves of CEO
  2. 4 people found this helpful  

    No Career Path; Many Managers are simply "Sales People".

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Product Specialist in New York, NY
    Current Employee - Product Specialist in New York, NY

    I have been working at FactSet

    Pros

    Free soda (though the selection has slimmed down) and $8 a day at the deli (though the food gets old after a while).

    However the free lunch basically means instead of a lunch break you sell yourself for $8. Assuming you make 50k+, $8 a day for 4 days isn't worth it.

    Cons

    The real life at FactSet: Once hired out of college you are a "consultant". However for the first 6 months-a year you are on a help desk taking phone calls (till they decide to move this function to India). The next year you are actually a consultant. However you then have a choice.

    If you don't get poached by a client you career path could be "specialist". You then get a small bump in pay, still do help desk/consulting work for a particular product but then have the additional goal of doing sales. They will also stick you with existing accounts. If you are new you are likely to get some account that are about to have canceled. These numbers will count against you raise/bonus time your first year. You will then be told, oh well, we had that too, just sell more to prevent it. However you will need to depend on the sales generalist to sell. If you have a complex product you are then basically doing the sales job as well. Make a sale and the generalist will take credit. Don't make it, and it was your fault.

    Your other career path is "Account Executive". Here you are a Jr Sales person working on existing companies rather than new business for a Sales Generalist. Again you will be given accounts in bad shape. Eventually you move to Sales Generalist where you just become another sales person till you have a bad year or two and then slowly pushed out.

    The people who get treated decent are the Engineers and Development. The only issue in these roles is that your promotion is a little extra money and a nicer title. Real promotions take a long time and before you realize it you will be middle-aged and replacable by a 20-something year old. After-all for the first few years, you could be more senior, but you will have the same title as them.

    The people telling you need to stay 5 years or so to get promoted want you to work cheaply and not move up for the next 5 years. At FactSet the rule is you can apply for a promotion after a year. However each time my particular manager would tell me how my position wasn't short-term and needed to be a long term 5-7 year position. They would tell me how they can't evaluate a potential promotion schedule until I'm in the position for 2 year. After 2 years of course, the promotion is in title, not really anything else.

    The 3 weeks vacation is decent, but you end up working lots of additional hours. You really should get comp time for those hours.

    There are other companies out there that treat their employees better.

    Advice to ManagementAdvice

    Many product groups have managers which is unfortunately made up of sales people with little experience with the product. They get put there because they sold general FactSet. This is the wrong structure.

    Our competitors have experienced people in the management of the group. How can a manager who knows little about the product supervise a specialist who knows more than him/her? Worst they managers drive the enhancement/development agenda without knowing what's going on for the first year or two. Hire outside-experienced people to be manager of groups OR promote experienced specialists, not just the top-performing sales person of the year. Selling and Managing have little in common.

    Doesn't Recommend
    Disapproves of CEO
  3. 1 person found this helpful  

    Very Political Environment

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Engineer in Norwalk, CT
    Former Employee - Engineer in Norwalk, CT

    I worked at FactSet

    Pros

    If you are a college grad there are a lot of employees your own age and experience level. Folks there know how to have fun and it's a fun plac eto transition out of the college life

    Cons

    If you are a college grad there are a lot of managers your own age and experience level. Office politics are significant. While not stereotyping everyone, there is a definite sense that folks are there for their own good and team work is typically a barter of political capital rather than an immerse, fun experience

    Advice to ManagementAdvice

    Listen to all employees. Be involved with daily life, employees had little to no interaction with senior management, even at social gatherings when their "favorites" would just hover around them. This isn't grade school - getting a gold star from teacher isn't going to help us beat Bloomberg and others.

    Doesn't Recommend
    No opinion of CEO
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  5. 1 person found this helpful  

    Night mare

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Research Analyst in Hyderābād (India)
    Former Employee - Research Analyst in Hyderābād (India)

    I worked at FactSet full-time (less than a year)

    Pros

    Nothing to say about the benefits except fooling employees with childish gifts for motivation.

    Cons

    1.You cant survive in factset without telugu.
    2.Worst salary hikes.
    3.Pure data entry jobs.
    4.No other employers give chance to factsetter specially a factsetter.
    5. Working with factset is just like destruction of your valuable time.

    Advice to ManagementAdvice

    Get some sense of corporate environment in the company. Even the trainers speak butler English.

    Doesn't Recommend
    Positive Outlook
  6. 2 people found this helpful  

    Not a good place to work.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at FactSet full-time (more than a year)

    Pros

    Just a good brand name in CV

    Cons

    too much politics in office

    Advice to ManagementAdvice

    please wake up

    Doesn't Recommend
    Disapproves of CEO
  7.  

    Very low Employee Morale, Good for freshers but not for experienced people.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Anonymous Employee in Hyderābād (India)
    Current Employee - Anonymous Employee in Hyderābād (India)

    I have been working at FactSet

    Pros

    Good Infrastructure and snacks, refreshments.

    Cons

    Very demotivating environment. Delegation is very poor. No ethics followed by some of the Managers. Attrition level is very high.

    Advice to ManagementAdvice

    Improve the leadership level..Because people do not leave companies, they leave managers.
    Provide more learning opportunities for the employees also.

    Doesn't Recommend
    Disapproves of CEO
  8. 1 person found this helpful  

    A place where the highly motivated are not valued .

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Software Engineer III
    Current Employee - Software Engineer III

    I have been working at FactSet

    Pros

    Laid back atmosphere , and a low stress enviornment

    Cons

    Very few are motivated to do the right development thing

    Advice to ManagementAdvice

    Value software development more ,long term software development that improves infrastructure is a good idea.

    Doesn't Recommend
    Disapproves of CEO
  9. 2 people found this helpful  

    Good short-term finance exposure but long term, not for the ambitious.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Anonymous Employee in London, England (UK)
    Current Employee - Anonymous Employee in London, England (UK)

    I have been working at FactSet

    Pros

    Free Lunch.
    Client facing role.
    CFA support.
    Collegial environment.
    Good exposure to HF, IB and IM workflow.

    Cons

    Incompetent managers.
    Meaningless targets.
    Very low pay vs. work hours.
    Zero upward career progression after initial role promotion.
    Clique.
    Bad feedback system.

    Advice to ManagementAdvice

    Poor show for a company that is +30 years old yet still falls in the medium-small group.

    Disapproves of CEO
  10. 3 people found this helpful  

    No Job Is Safe..

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at FactSet

    Pros

    Like the previous poster said benefits are unmatched. Healthcare benefits, 401K match, and stock program make life less stressful. However the benefits are used as a reason for lower raises/bonuses throughout the years.

    Cons

    People disappearing everywhere.. In December some sales people who would always give advice and would work their asses off, were let go. They were FactSetters for life so I am sure being let go was a shock to them.

    Now a bunch of people aredisappearing from the third floor in NYC. I heard they are being offer 1 month per year of service (including medical) with a 6 month max. That's pretty substandard as a few years ago anyone let go (even people there a few months) was given a 6 month package.

    Advice to ManagementAdvice

    Keep the employees who worked their way up. Young people won't want to work for peanuts for several years to finally be given that great job, if they realize it will be a short term deal. Now that the loyal hard workers at FactSet are being let go because of what they make(not how they do), what incentive is their to stay?

    Doesn't Recommend
    Disapproves of CEO

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