Morningstar

www.morningstar.com
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14 people found this helpful  

Disorganized and unprofessional

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Former Employee - Analyst in Chicago, IL
Former Employee - Analyst in Chicago, IL

I worked at Morningstar full-time (more than 5 years)

Pros

It is not a bad place for someone to start a career in the financial services industry. Work there for the mandatory 2 years between getting your Bachelor's degree and applying for B-School. The work is as monotonous as you would experience as a trainee at an investment bank, but the company is much less demanding regarding time at the office.

Cons

The company is basically a start-up that was in the right place at the right time (had a fund rating product in the '80s when employers started converting pensions into 401(k) accounts and shifting the burden of retirement planning to workers). The upper management believes there company has been successful because of the brilliance of their management. In actuality, the company has succeeded despite rather than due to the management. Sometimes there is nothing more dangerous than success; Morningstar is a case in point.

Business decisions are made by people unqualified to make them and inexperienced. These are the ones who have worked for the company for years and who, whether competent or not, are trusted by someone above them who is similarly incompetent. The result in the area where I worked was a real Lord of the Flies kind of story where people with no management experience and little experience in the general industry were put in positions of supervision over others. Imagine someone that might be working as an assistant at a reputable investment bank instead being the head of a 100-person group.

Morningstar's business is struggling as the organization long ago exceeded the limits of their competency and two market crashes within 10-years has removed the attraction in many of their clients' minds of investing in the market. The company is attempting to shift its focus to institutional customers, but haven't realized that this is a much more competitive market with players who are much more well established, much better run, and have much deeper pockets. Morningstar has captured the low-hanging fruit--now what.

Advice to ManagementAdvice

Joe Mansueto. You should hire some good management consultants, fire most people who have worked there for 10 years or longer (including your incompetent CFO and Head of HR), staff your company with experienced, knowledgeable people, make yourself chairman emeritus, and turn over the running to a professional manager.

Doesn't Recommend
Negative Outlook
Disapproves of CEO

308 Other Employee Reviews for Morningstar (View Most Recent)

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  1. 1 person found this helpful  

    Good and/but laid-back people, great work environment, mediocre compensation

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Mutual Fund Analyst in Chicago, IL
    Former Employee - Mutual Fund Analyst in Chicago, IL

    I worked at Morningstar full-time (more than a year)

    Pros

    - More laid-back atmosphere than a financial firm
    - Excellent work/life balance
    - More "intellectual" and less "jock-like" than other firms
    - CEO Joe Mansueto is the founder of Morningstar and it makes a huge difference versus a hired suit

    Cons

    - Compensation is not impressive
    - As an analyst, you're completely and quickly replaceable and exit ops aren't as obvious as for other finance career paths

    Recommends
    Neutral Outlook
    Approves of CEO
  2. 2 people found this helpful  

    Little to no upward mobility

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Product Consultant in Chicago, IL
    Former Employee - Product Consultant in Chicago, IL

    I worked at Morningstar full-time (more than a year)

    Pros

    There are many pros to working at M* including flexible vacation, casual work environment, summer Fridays, and bagel day every Wednesday.

    Cons

    The main cons are the below industry standard salaries as well as the lack of upward mobility. No one gets promoted due to their own merit, you need to apply to other positions within the company thus competing with everyone else for jobs and starting over each time you begin a new position.

    Advice to ManagementAdvice

    Upper management should communicate more with employees and give more direction on career path.

    Neutral Outlook
    Approves of CEO
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