Vanguard

  www.vanguard.com
  www.vanguard.com

Vanguard Reviews

Updated December 16, 2014
Updated December 16, 2014
750 Reviews
3.3
750 Reviews
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Approve of CEO
Vanguard Chairman and CEO William McNabb
William McNabb
452 Ratings

Review Highlights

Pros
  • Work/life balance is a priority as you don't work crazy hours and get a lot of vacation time (in 120 reviews)

  • Great benefits; was able to earn MBA and CFP with full tuition reimbursement (in 67 reviews)


Cons
  • The positions in AZ are largely call center support roles, or supervisory roles (in 53 reviews)

  • Good work/life balance for some people, but not if your on the phones (in 16 reviews)

More Highlights

134 Employee Reviews Back to all reviews

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  1. 1 person found this helpful  

    Good Company, hard to make it on the income they offer.

    • Comp & Benefits
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Associate in Valley Forge, PA
    Former Employee - Financial Associate in Valley Forge, PA

    I worked at Vanguard

    Pros

    Looks great on a resume.

    Cons

    Hard to move up in the company quickly. You have to go level by level and cannot jump a step even if you qualify for a position that requires jumping steps.

    Advice to ManagementAdvice

    Rethink pay and advancement procedures.

    Neutral Outlook
    Approves of CEO
  2. 1 person found this helpful  

    Great at first, until you realize you're just in a glorified call center with no incentive.

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

    I have been working at Vanguard (more than 3 years)

    Pros

    Work/life balance and the honest investment practice is why I came over. I did learn how to manage a LARGE book of HNW clients.

    Most of the clients are great and I consider many of them my friends.

    Cons

    No clear direction from management. Subjective performance reviews from young, inexperienced management. A lot of corporate speak, but no action to a particular goal.

    Very low salary compared to industry.

    Currently turning into a call center with sales goals, but no incentive or commission for work produced.

    Advice to ManagementAdvice

    I've tried. No luck.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  3. 1 person found this helpful  

    Good springboard employer, but not for long-term unless ok with micromanaging

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Client Relations Associate in Scottsdale, AZ
    Former Employee - Client Relations Associate in Scottsdale, AZ

    I worked at Vanguard full-time (more than an year)

    Pros

    The company respects work-life balance and has great benefits. Many opportunities to move around within the company, and they focus a lot of personal career development and trainings that one can take during work hours.

    Cons

    Below average industry pay (which is probably why benefits are so great), micro-management culture. Most of the jobs are phone-based, where you give information or advice to company clients. However, the downside of this is that you have to clock in and out for everything, including bathroom breaks. You have 30 mins of break a day (including grabbing snacks, bathroom breaks, etc.), and it is not unusual to be reprimanded for going over by a few minutes (2-5 mins minimum from my experience).

    Advice to ManagementAdvice

    Decrease micro-managing and give employees more freedom to manage their own time.

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

    Not for me

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

    I have been working at Vanguard

    Pros

    Not known for big lay offs. The company is absolutely doing what they can to help their client.

    Cons

    The jobs are all call center based positions, so you will not work with intelligent people (I guess smart enough to pass the Series 7 & 63 after 2 allowed tries; not that hard to do). Tedious job and culture is pretty strong, making it a cool-aid based work environment very quickly. Pay is sub standard, and everyone there will try to make you believe that better pay is not worth it because they have a great culture.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  6. 1 person found this helpful  

    Processor

    Former Employee - Processing Associate in Malvern, PA
    Former Employee - Processing Associate in Malvern, PA

    I worked at Vanguard full-time (more than 10 years)

    Pros

    There are some great people that you come in contact with on an everyday basis. The work/life balance is great, benefits are excellent.

    Cons

    Management has the worse demeanor ever! From my time there during the last 3 years of my employment with them and a department switch I can honestly say I hated working there. They have high expectations, for a process that they do not have any idea how to do themselves. Some of them are just out right rude, will not even speak to you when you say something as simple as "Good morning, Bob!" Morale is at it's all time low! If you've been there for 10 yrs or more or closer to retirement age, get ready for them to find any reason to let you go so that they can hire younger kids who are fresh from college and have no idea what they are doing to take their place.

    Advice to ManagementAdvice

    Compensation does not match the aggravation that is received on a daily basis. It doesn't hurt to say hello, or good morning to your subordinates! You get better results when you treat people fairly and like adults instead of micromanaging every little thing that they do.

  7.  

    Great culture but poor on compensation

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Flagship Representative in Malvern, PA
    Current Employee - Flagship Representative in Malvern, PA

    I have been working at Vanguard full-time (more than 3 years)

    Pros

    Lots of time off, great people and activities for employees

    Cons

    Pay is too low. There are lots of employees with advanced degrees making what an entry level bachelor degree should pay. Difficult to move to other departments

    Neutral Outlook
    No opinion of CEO
  8. 4 people found this helpful  

    Great, if you are 22 and part of leadership = otherwise, be ready for disappointment

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Client Service Associate in Scottsdale, AZ
    Current Employee - Client Service Associate in Scottsdale, AZ

    I have been working at Vanguard full-time (more than 3 years)

    Pros

    Nice campus, good benefits, security of set hours and location to report to

    Cons

    Office culture, not having the tools you need (training, etc.) necessary to perform your role successfully, punitive leadership, not promoting

    Advice to ManagementAdvice

    Teach your crew what is needed to succeed

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
  9.  

    Good place to start out, but not to stay long term

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

    I have been working at Vanguard

    Pros

    Generous vacation, interesting software to work on

    Cons

    Very uptight culture, lots of heads up activities

    Advice to ManagementAdvice

    Let you people be good at what they are good at.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  10. 8 people found this helpful  

    If you want a career in finance, STAY AWAY!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Client Relationship Associate in Scottsdale, AZ
    Former Employee - Client Relationship Associate in Scottsdale, AZ

    I worked at Vanguard full-time (more than an year)

    Pros

    This is a great place to be if you don't know what you're doing. Vanguard has this pathological disgust with their own industry. Because of this Vanguard regularly advances people with little industry knowledge and no desire to deepen their knowledge. This truly is the place to be if you are not ambitious and know you are not the archetype for success. Pay is below industry average, the W-2 benefits are the same as anywhere else in the industry, the non W-2 benefits are non-existent: bad coffee unless you pay for it, Christmas party is a pot luck you provide and it's on your own time, no parties, no trips, they'll provide lunch on days where they cut your lunch in half but it's never good and it will have been sitting out for hours depending on your shift. Hell, they once awarded me 2 movie tickets but they were MATINEE ONLY!!!!! Most employees think they have it good, but that's only because they've never worked anywhere else. If you're still interested, know this: You will be expected to drink the Kool-Aid. The only people who last and advance are those who buy into the propaganda without question. Bogle is a genius who is responsible for the work other people won Nobel Prizes for, Vanguard is generous, Vanguard doesn't treat their clients with disdain, etc.

    Cons

    The main problem with working here is that it makes it incredibly hard to find a job elsewhere. Vanguard employees have a reputation for being incompetent, unintelligent, and overly emotional (I've gotten this from frank discussions with friends and connections I've talked to on Linkedin, many of whom are in charge of hiring). To be honest, this reputation is mostly deserved. Managers especially have no chance of finding a job elsewhere, but those who stay less than 2 years have a chance of staying in the industry, but it's a seriously uphill battle.

    Advice to ManagementAdvice

    Create a new metric for performance measurement that gives weight to qualitative measures. Many of your "stars" have great call times, but they give clients the run around, will often refuse to help clients with simple requests because of the effect it will have on their call times, and regularly refuse to do their due diligence and follow up on client issues because they know how few calls you listen to and they know they won't be punished for these sorts of things when caught. Stricter standards for who you place in management positions is needed as well. Most team leaders are far less competent than the average B and C level under them… that's a serious problem.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  11. 1 person found this helpful  

    Perfect for someone young trying to gain experience in the financial industry.

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Vanguard

    Pros

    They pay for licensing and further education. The job is very easy once you get the hang of things. You learn a lot very quickly.

    Cons

    Low pay. There's a manager for every 8 people so you're constantly being watched and micromanaged. If you're on the phones, you have to deal like being treated like customer service instead of an advisor. Vanguard keeps a very tight leash on what you can and cannot say, so all of your conversations are basically the same. It gets very monotonous. Promotions are very political so if you want to get ahead don't expect your performance to speak for itself - you must make friends with management and play the game.

    Advice to ManagementAdvice

    If you would invest more in the salaries of your client-facing reps and give them a little more freedom you wouldn't need to pay the inflated salaries of so many managers to make sure that no one is making mistakes

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