There are newer employer reviews for Janney Montgomery Scott

2 people found this helpful  

Culture claims a desire for 'best in class' but leadership isn't willing to make the necessary hard choices

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

I worked at Janney Montgomery Scott full-time (more than an year)

Pros

If you want to work in finance outside of major cities, this may be a nice option. Cost of living in Philadelphia is attractive. Firm may offer moderate hours and job stability for mediocre performers compared to other finance firms.

Cons

Company clearly doesn't care about their employees and isn't investing in the young and talented for the future of the firm (pays top dollar to senior hires who join the firm as retirement looms, junior employees face top heavy structure, no mentoring, and long hours not rewarded by strong career prospects/quality connections/introductions). Promotions and hires are based on the "good old boy" network instead of best in class/most qualified. Women are not valued. The population isn't very diverse. For a finance firm, dearth of quantitative skills and internal IT put the firm at risk (documentation of internal processes is alarmingly absent). Not clear why Penn Mutual maintains this firm.

Advice to ManagementAdvice

Culture change is needed, seek out external consultant and consider 'cleaning house." If this is a long term investment for Penn Mutual, make sure you are making long term investments in your employees.

Doesn't Recommend
Negative Outlook
No opinion of CEO

36 Other Employee Reviews for Janney Montgomery Scott (View Most Recent)

Sort: Rating Date
  1. 2 people found this helpful  

    Unless you are a highly successful financial advisor, don't work at this company.

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

    I have been working at Janney Montgomery Scott

    Pros

    The people are smart and really knowledgeable about the subject matter. It's a very conservative company so there is not as much risk as working for a wirehouse. Also, it's privately owned and the parent company, Penn Mutual is good.

    Cons

    The company clearly doesn't care about their employees. Their benefits are horrible. They see employees as interchangeable cube-dwellers. There is very little professional development for corporate staff and promotions are based on the "good old boy" network. Women are not valued and instead are treated like "Mad Men" still exists. Even the few women at higher management levels are treated like secretaries by the men. The population isn't very diverse. Also, management doesn't understand concepts like work-life balance, management by objective or promote from within. The successful financial advisors are treated like rock stars and everyone else exists to serve them.

    Advice to ManagementAdvice

    Work on your communication skills. You disagree with each other and use your underlings as the messengers. Also, take some diversity training and embrace the new century. Employee engagement isn't just a box to check off.

    Doesn't Recommend
    Disapproves of CEO
  2. 1 person found this helpful  

    A great place to start a career in financial services

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Junior Investment Analyst in Philadelphia, PA
    Former Employee - Junior Investment Analyst in Philadelphia, PA

    I worked at Janney Montgomery Scott

    Pros

    Some of the best reasons to work at Janney come from the amount of exposure you get to different areas of financial services.

    Cons

    The salary is medicore compared to other firms that complete the same tasks. Also your ability to grow in the company is limited.

    Advice to ManagementAdvice

    I would promote more growth within the postion. There seems to be a high turnover rate within the department and I believe this is because of better opportunities outside Janney.

    Recommends
    Approves of CEO
There are newer employer reviews for Janney Montgomery Scott

Work at Janney Montgomery Scott? Share Your Experiences

Janney Montgomery Scott

 
Click to Rate
or

Your response will be removed from the review – this cannot be undone.