AllianceBernstein

  www.alliancebernstein.com
  www.alliancebernstein.com

AllianceBernstein Reviews

Updated October 23, 2014
Updated October 23, 2014
213 Reviews
3.1
213 Reviews
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AllianceBernstein Chairman and CEO Peter S. Kraus
Peter S. Kraus
114 Ratings

Review Highlights

Pros
  • good work-life balance, friendly colleagues (in 12 reviews)

  • Great smart people who have a lot to offer (in 14 reviews)


Cons
  • Senior management missteps with outsourcing staff to State Street (in 19 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)

More Highlights

Employee Reviews

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  1.  

    what the financial modeling is?

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Analyst in New York, NY
    Current Employee - Financial Analyst in New York, NY

    I have been working at AllianceBernstein as an intern (less than an year)

    Pros

    the people in AB are very friendly

    Cons

    the benefit in AB is on the middle level

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
  2.  

    God collaboration

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Assistant Vice President in New York, NY
    Former Employee - Assistant Vice President in New York, NY

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

    Pros

    Generally low pressure, great collaboration between departments

    Cons

    Not much opportunity to rotate positions

    Recommends
    No opinion of CEO
  3.  

    Great company to work for but not much stability

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

    I worked at AllianceBernstein full-time

    Pros

    Culture, benefits, pay (moderate to good depending on what you do)

    Cons

    Political atmosphere is quite challenging

    Advice to ManagementAdvice

    Please help employees, and in turn, employees will help you achieve your and company goals.

    Recommends
    Neutral Outlook
    No opinion of CEO
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  5.  

    Great Potential

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at AllianceBernstein

    Pros

    Great culture, personable people, people very willing to help

    Cons

    May have a lot of red tape depending on what department

  6.  

    Don't do it

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Vice President in New York, NY
    Current Employee - Vice President in New York, NY

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

    Pros

    Known for their research, AB has some very smart people on board.

    Cons

    AB is a totally political and dysfunctional environment. No one will speak up, even SVP level and above, on what really goes on. It is an elitist group of people who have lost their sense of humanity and are running scared. You will only get promoted if you are in senior management's inner circle and everyone knows it. It is a cut throat and throw you under the bus environment. There 10 years one day, gone the next. With all that said, they don't even pay competitively and there is no work life balance because they have scaled back and cut so many costs that the organization is too lean and has no support. Peter Kraus needs to go.

    Advice to ManagementAdvice

    Peter Kraus' inner circle will be gone when his contract is up so speak up and stop taking abuse.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7.  

    Unorofessional

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at AllianceBernstein

    Pros

    Good benefits and location. Decent bonus.

    Cons

    Unprofessional management and abuse of power. Singling out and favoritism of some. Some people feel it is their right to make people under them feel like crep for absolutely no real reason and show favoritism to others. They get away with any type of treatment that they want to inflict on people below them. Awful atmosphere if they deem you as someone they do not like. It is never constructive criticism and pure malicious behavior.

    Advice to ManagementAdvice

    Look at how some managers run their department and there should be some type of real forum to report these people without it getting back to the person. It truly is unprofessional to say the least and unbearable treatment of some people.

  8.  

    It used to be a great firm but went downhill after the market crashed.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Vice President in New York, NY
    Current Employee - Vice President in New York, NY

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

    Pros

    AllianceBernstein was a top tier asset manager with rapidly growing assets under management. The culture was insular and a little smug, but there were many opportunities for growth.
    Some of their capabilities, especially in research and analytics, were superior to their competitors.
    Both business and IT had talented individuals who moved on to successful careers elsewhere.

    Cons

    The environment in the last few years has been one of relentless cost cutting. Many of their best people have moved on. Surviving employees have no sense of direction and purpose, and feel they are treated as appliances.

    Bonuses have been slashed severely and show no sign of improvement even after the recovery.

    Management has changed direction repeatedly with no accountability for failure. For example -
    1. There was an expensive project to outsource most of Operations. This was abandoned after several years and many employees had to switch jobs from AB to the outsourcing vendor and back again.
    2. Similarly, IT employees were relocated to White Plains which was an impossible commute for residents of NJ. The rationale was that the NY office space would be sub-leased to generate rental income,. After a couple of years, this project was also abandoned and the employees were moved back to NY.
    3. IT management decided to start a captive offshore arm called AB Solution Center. The rationale here was that by eliminating the consulting middleman, they would be able to hire much higher quality resources who could replace onshore staff. This project also failed - AB did not have the scale to start their own operation, so they reached an understanding with AXA India. Instead of paying more, AXA started subcontracting to the same consulting firms who had been eliminated, but paying even lower rates to preserve their own margin. IT teams spent many months trying to get it to work, but gave up one by one. Of course, this did not save any of the staff who had been marked for elimination.

    Advice to ManagementAdvice

    1. Stop taking your staff for granted. It is not a viable strategy to coddle the CEO and his inner circle at the expense of everyone else.
    2. You will not be able to survive just by cutting costs. Your competitors also went through hard times but are making significant investments to strengthen their position in the market. What have you done except outsourcing, off shoring and terminations?
    3. Your technology platforms are seriously stale. You will simply not be able to compete without significant investment.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  9.  

    Death by a thousand cuts

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

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

    Pros

    Smart collaborative people in fixed Income which still shows great returns for clients. Firm wide marketing material are terrific.

    Cons

    Lousy 401K plan. Equity still in doldrums. Firm is now buying assets. Senior management missteps with outsourcing staff to State Street.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  10. 1 person found this helpful  

    Was once a great place to work.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Assistant Vice President in New York, NY
    Former Employee - Assistant Vice President in New York, NY

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

    Pros

    Used to be a great place to work. Everyone was part of the team and was recognized and compensated when they deserved to be. I cannot think of any current "Pros", since culture has completely changed since new CEO has taken over.

    Cons

    Understaffed. Decisions are made based on personal relationships, not value of the employee. Titles are given, but comp doesn't change.

    Advice to ManagementAdvice

    AXA needs to change CEO.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  11.  

    Great co-workers but bad management drives them away.

    • Comp & Benefits
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Customer Service in San Antonio, TX
    Former Employee - Customer Service in San Antonio, TX

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

    Pros

    Good benefits. Great training and education is provided. I was able to obtain a number of my licenses from AB.

    Cons

    Managers play favorites with schedules, pay and advancement. Long hours and mandatory overtime.

    Advice to ManagementAdvice

    Keep a better eye on your managers and concentrate more on the regular employees.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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