AllianceBernstein
2.7 of 5 197 reviews
www.alliancebernstein.com New York, NY 1000 to 5000 Employees

AllianceBernstein Reviews

Updated Mar 16, 2014
All Employees Current Employees Only

2.7 197 reviews

                             

37% Approve of the CEO

AllianceBernstein Chairman and CEO Peter S. Kraus

Peter S. Kraus

(106 ratings)

28% of employees recommend this company to a friend
197 Employee Reviews
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Review Highlights

Pros:
  • "good work-life balance, friendly colleagues"
    in 12 reviews
  • "Smart people, passionate and hard working"
    in 13 reviews
Cons:
  • "Performance has also suffered, and senior management seems too stubborn to alter their approach"
    in 18 reviews
  • "Alliance Bernstein allows lets lower level employees work on higher level projects (this can be viewed as either a pro or a con)"
    in 5 reviews
  • Show more review highlights

Reviews

  • Culture & Values
         
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  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • Disapproves of CEO

 

Great Experience

Assistant Vice President (Current Employee)
New York, NY

I have been working at AllianceBernstein full-time for more than 3 years

ProsLots of bright people
Lots to learn early in career

ConsBusiness is not diversified
Lots of turnover
Morale at all-time lows
Lacks culture since turnover of Lew Sanders
Lots of arrogance
Not much opportunity for younger people

Advice to Senior ManagementPerformance needs to improve across strategies. That's all there is to it.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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management is all about cost-cutting

Anonymous Employee (Former Employee)

I worked at AllianceBernstein full-time

ProsDecent people to work with and not as aggressive or toxic as some other financial firms.

ConsManagement is pretty bad and all about cost cutting. CEO is a joke and the firm seems years behind peers in terms of operations, strategy, performance, human capital, etc...

Before the recession, it was a great place...but then the CEO got replaced and the new one is a complete joke with no sense about how to effectively manage people

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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Great firm.... in theory

Anonymous Employee (Former Employee)

I worked at AllianceBernstein full-time for more than 3 years

ProsAccess to the best market research and analysts you could ask for. Bernstein does an amazing job of hiring excellent people, who generally are both intelligent and personable, making the workplace enjoyable.

ConsExtremely limited career growth opportunitiy - they tell you the growth path is there, but once you work your ass off for years, you realize that it likely won't happen to you.

Advice to Senior ManagementExtremely hierarchical - upper management can be very difficult to pin down unless you are dealing with a client/situation they deem "worthy". Be straightforward with your employees about growth opportunities and tell them what is and is not available to them. Kraus (new CEO) has done a great job trying to turn the company around and keep talent employed, but needs more work.

No, I would not recommend this company to a friend

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Challenged Firm Hoping to Turn the Corner

Fixed Income Product Specialist (Former Employee)
New York, NY

I worked at AllianceBernstein full-time for more than 3 years

ProsGood hours, people are generally nice, some good perks, and could do really well if new strategy succeeds.

ConsPay, Layoffs, Firm is Repositioning, Culture is trying to find itself in new paradigm, and subpar pay (although can be great if in the right place)

Advice to Senior ManagementKeep at it... the firm needs the face lift

Yes, I would recommend this company to a friend

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Underperforming and underappreciative....

Associate (Current Employee)
New York, NY

I have been working at AllianceBernstein full-time for more than 3 years

ProsIntelligent staff that prides itself on integrity and ethical behavior. Reasonable hours and work-life balance. Affiliation with sell-side research.

ConsLimited room for advancement or transition. The firm's culture does not stress employee development. Morale is low and leadership lacks vision. Performance has also suffered, and senior management seems too stubborn to alter their approach.

Advice to Senior ManagementInvest in your staff and take an active interest in their development

No, I would not recommend this company to a friend

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Lots of politics, below average comp, not innovative

Software Developer (Former Employee)
New York, NY

I worked at AllianceBernstein full-time for more than a year

ProsCafeteria has great selection, and well stocked kitchen, hours are good

ConsConstant layoffs, below average pay, too much politics - not much room for growth as promotions are given to politics, no real defined roles in technology, backbiting in tech, behind the times in terms of tools and languages, company doesn't have innovative tools and builds on 8 year old technology

Advice to Senior ManagementFind a direction and communicate to staff, be open to innovate and integrate new technology

No, I would not recommend this company to a friend

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Little to no career development

Private Client Associate (Former Employee)
Washington, DC

I worked at AllianceBernstein full-time for more than a year

ProsNormal and consistent business hours
Sponsorship of FINRA licensing exams: Series 7, 63, etc.
Team environment
Exposure to a wealth of research reports, economic data, and analysis
Ability to develop relationships with senior personnel as well as external clients
Wonderful marketing and networking events

ConsPay is below market
Non existent career development
Rumors of inner-office relationships with superiors
Often treated poorly by clients
The Company's funds & stock picks performed terribly during the financial crisis

Advice to Senior ManagementI haven't been with AB for over 2 years, but I hear that it has continued to decline with layoffs, low morale, and poor performance. Leadership starts at the top, and P Kraus doesn't exactly inspire a lot of confidence. This then trickles down to senior managers who were more focused on keeping their jobs during the leadership transition than they were about performance and employee morale.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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A Great Firm Gone Wrong

Marketing Manager (Former Employee)
New York, NY

I worked at AllianceBernstein full-time

ProsA lot of smart people. Hard working. Benefits are better than most. Continued emphasis on research (although people are getting stretched too thin to do it to the same depth that had been traditional).

ConsConstant layoffs and reshufflings make it difficult to get any momentum, either careerwise or businesswise. Leadership (especially the CEO) doesn't inspire the staff. The firm just seems adrift and taking on water. People are stretched too thin to consistently deliver high-quality work.

Advice to Senior ManagementStop trying to be all things to all people. Point people in one direction, and provide some clear leadership. And when you're constantly laying off people and increasing workloads, all the talk about how much you care about staff is just lip service.

No, I would not recommend this company to a friend

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Seems to be turning the corner

Associate (Current Employee)
New York, NY

I have been working at AllianceBernstein full-time for more than 3 years

ProsGreat internal growth opportunities and commitment to retaining top talent. Sales and AUM seem to be turning to corner after a tough couple years. Senior management and many employees feel positive about the momentum and direction the company is going.

ConsStill haven't fully shaken off the past couple years of outflows and layoffs. Certain groups still feeling pressure.

Advice to Senior ManagementKeep being supportive of key talent and keep employees engaged in recovery.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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Great People, Shitty Place to Work

Administrative Assistant (Former Employee)
New York, NY

I worked at AllianceBernstein full-time for more than a year

Pros-People are intelligent, friendly, social, and know how to have fun
-You can learn a lot if you seek out the tools to do so
-Great benefits

ConsAt least in the Wealth Management dept, the morale is low. Very low. Support staff is not valued and the entire business operates around the Financial Advisors. Strategically, this does make sense because they're the ones bringing in the money. However, the complete lack of satisfaction felt by the assistants and the associates means that there is constant turnover and it often feels like the place is going to crumble within.

Also, the talent metric (SMART Goals) that everyone is subjected to throughout the year is the biggest waste of time and energy.

Middle management pool is bloated and lacks talent. The managers come off as ineffectual and unconcerned.

Advice to Senior ManagementOFFER SOLUTIONS and be an advocate for your people!

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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