Vanguard

www.vanguard.com
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Vanguard Reviews

Updated March 5, 2015
Updated March 5, 2015
238 Reviews
3.0
238 Reviews
Rating Trends

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Vanguard Chairman and CEO William McNabb
William McNabb
238 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

238 Employee Reviews Back to all Reviews

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  1.  

    Good company but expect a lot from the investment professionals for the average salary.

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

    I worked at Vanguard

    Pros

    Fair policies, advancement opportunities especially for younger crew

    Cons

    Huge client base, high expectations, call center environment , strict with call quality and advice policies

    Advice to ManagementAdvice

    Less meetings and fewer coaching sessions less micro management and favoritism. Practice what you preach regarding diversity.

    Recommends
    Positive Outlook
    Approves of CEO
  2. 1 person found this helpful  

    Vanguard is a great place to kick off a new career; it offers good benefits and there are a lot of young people there

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Fund Financial Analyst in Malvern, PA
    Former Employee - Fund Financial Analyst in Malvern, PA

    I worked at Vanguard full-time (more than 8 years)

    Pros

    Good benefits, fun co-workers, great place to start a career, fairly easy to move up from an entry level job

    Cons

    Highly political, lots of favoritism, if you are not "in" with management within 5 years - look for a new job immediately or else you will get "stuck," they are in heavy cost cutting mode now

    Advice to ManagementAdvice

    Go back to the company's roots of treating its employees as the true assets of the company and not expendable resources; need to evaluate your employee's performance based on value brought to company, not based on how good of friends you are with management

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

    Workplace

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Processing Associate in Wayne, PA
    Former Employee - Processing Associate in Wayne, PA

    I worked at Vanguard

    Pros

    Good if you like working alone, great initial training

    Cons

    No ongoing training, no solid timetable on length of contract work

    Advice to ManagementAdvice

    Building atmosphere feels like an up tight high school

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
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  5.  

    Good place to start

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - High Net Worth Client Relationship Administrator in Charlotte, NC
    Current Employee - High Net Worth Client Relationship Administrator in Charlotte, NC

    I have been working at Vanguard full-time (more than 5 years)

    Pros

    People willing to help, paid training

    Cons

    lack of opportunities and promotion not based on performance

    Advice to ManagementAdvice

    promote people to leadership who are able to do the job themselves

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  6.  

    It pays....

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Contractor - Financial Processing Associate in Wayne, PA
    Current Contractor - Financial Processing Associate in Wayne, PA

    I have been working at Vanguard as a contractor (less than a year)

    Pros

    I am a contractor with Randstad, so I don't reap the benefits of a full-time Vanguard employee. My pros would be working around young people, friendly office environment, some what of a "work-life-balance", and a decent first job out of college to build upon my skills

    Cons

    The job itself is mind numbing. I feel like a hamster spinning on a wheel, doing the same thing all day everyday. I also work extremely long hours, but get 3 days off a week. The amount of time I'm physically in the office (11 hours) makes it feel like I have no time off, and working every other Saturday is kind of a drag. They also micro manage a bit here, but that's to be expected for a bunch of low paid entry level workers. By micro manage-- they listen to every conversation amongst coworkers intently, and will hold it against you. They also keep track of how often you go to the bathroom and how much/how fast you get done work everyday. It feels like a factory line.

    Advice to ManagementAdvice

    Interactions with management is generally pleasant, but a lot of those in management positions are under 30 and don't know what they're doing/use intimidation to scare you into getting work done.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  7. 3 people found this helpful  

    Client Relationship specialist out of college

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

    I have been working at Vanguard full-time (more than a year)

    Pros

    It was fall semester of my senior year and I had no idea what job prospects were out there and Vanguard was the only offer I had so far so I decided to go ahead and accept. The training is excellent especially for those without a finance background. Some other perks:
    -Job security, pretty much impossible to get fired
    -Young environment mostly early 20s
    -Good experience if you want to become a advisor/planner
    -tuition/certification(cfa/cfp/mba) reimbursement available but you will have to pay it back if you leave.
    -25% of your time spent actually helping clients who really need investing assistance.
    -Products are best in class and pretty much sell themselves.

    Cons

    Some downsides are:
    -antiquated systems
    -no accountability management pushes employees to take as many calls as possible which leads to people making mistakes then other employees have to deal with those mistakes.
    -Zero collaboration, co-workers in other departments will often fight to resist taking a transferred call.
    -75% percent of your day will be spent doing menial tasks like resetting passwords or changing addresses.

    My advice to those coming out of college is to really take a long hard look to see if you really want this job. If you don't have a finance background this can be a good way to break into the industry. For those with solid finance backgrounds and aspirations especially if you want to go the analyst route you may want to pass. Looking back I realize now that I could've afforded to take a risk and hold out for a job that would be a better fit rather than working for a year and now looking to change roles.

    Advice to ManagementAdvice

    Work on collaboration and increasing accountability among crew. Allow for more frequent self development and training to keep crew from burning out on the phones.

    Recommends
    Positive Outlook
    Approves of CEO
  8.  

    Good company

    • 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

    Great corporate organization, with a variety of career options.

    Cons

    Too much focus on process, rather than innovation and effectiveness. Not a bad thing, however, but limits growth to those who are best at managing process.

    Recommends
    Positive Outlook
    Approves of CEO
  9. 4 people found this helpful  

    Fund Associate

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Fund Administrator in Malvern, PA
    Former Employee - Fund Administrator in Malvern, PA

    I worked at Vanguard full-time (more than 3 years)

    Pros

    -Great work/life balance (if your into that kind of thing)
    -Everyone is pretty approachable (except for most of the chosen rotational program people)
    -It is the investment firm for the average person, meaning that the have a pretty straight forward investment mandate (if that interests you)
    -Very smart senior leadership
    -great office location
    - no Philadelphia city wage tax (if you live outside of the city limits)
    -many options for prospected career paths
    -VERY ethical (which is needed in the financial industry)

    Cons

    -work/life balance can be frustrating if you're a high drive person
    -cash compensation is low for the industry (although total comp is fine)
    -a large portion of your comp is 401k contribs that take time to vest (this can be a good thing if you struggle to save for retirement but can be frustrating if you need cash flow)
    -Many of the very smart people asset management people that were instrumental in making the firm what it is are retiring.
    -culture of nepotism (people in rotational programs receive preferential treatment and have better access to the intellectually stimulating jobs) interesting point is that many of the people in these programs leave the organization after they are supposed to launch into there long-term positions.
    -with how the rotational programs work, after spending a few years in a department you could have a rotational hire that has work 1-1.5 years (so a 23/24 year old who 1-1.5 years removed from college) at the firm managing you.
    -very few asset management positions available for a lot of people that want to work in the field

    Advice to ManagementAdvice

    Calibrate employee's salaries to the industry normal levels when the employee receives a promotion.

    Doesn't Recommend
    Positive Outlook
  10. 3 people found this helpful  

    Great place to invest, not great to work

    • 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 full-time (more than 3 years)

    Pros

    Highly unlikely to ever get fired unless you are just beyond bad at your job. Great investment methodology and does do the right things for the clients. There are a few great leaders. Benefits & PTO are great.

    Cons

    Salary. x1000. Vanguard pays 20-50% less for the same roles than other companies. They seemingly do this to keep costs down, but fail to realize that this causes them to consisently lose high performers and it creates no incentive for good performance. That has its own cost. As does never firing bad performers. Being personal friends with senior leaders, having good credentials (though not the job performance) and being fake/cutthroat will get you far here if you want to be a "leader".

    Advice to ManagementAdvice

    Pay better. Trim layers of management to fund it.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  11.  

    Great place for entry level

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Investment Professional in Charlotte, NC
    Current Employee - Investment Professional in Charlotte, NC

    I have been working at Vanguard full-time (more than a year)

    Pros

    Great work life balance, great benefits

    Cons

    Monotonous, call center environment can get boring

    Advice to ManagementAdvice

    Higher pay

    Recommends
    Positive Outlook

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