There are newer employer reviews for Morningstar

2 people found this helpful  

Good company to start your career at

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

I have been working at Morningstar full-time (more than 8 years)

Pros

Great benefits but fair pay

Cons

Virtually little to no opportunity for advancement. Heavy emphasis on hiring college graduates with little experience. Majorirty of employees are interested in career development, so you have a lot of people around the same age/experience level looking for advancement with little opportunity. If you happen to become a manager, there are virtually no career progression opportunities afterwards. Also, senior management does nothing to require managers to effectively manage and be accountable for morale Quality, development and productivity standards are inconsistent across groups within the company. Training is weak, conducted through occasional external workshops and there are no standards/measurements/consequences for acceptable management standards. As a result, there are some really ineffective managers on the foor impacting employee morale, productivity and creating ineffective processes.

Advice to ManagementAdvice

Pay more attention to what is actually happening in each SBU, listen to the employees and appoint true leaders. A good leader isn't one who is skilled in one area, but is well rounded and has demonstrated success in multiple areas, gaining the respect of both their peers and leadership. Reward those who go over and beyond.

Doesn't Recommend
Negative Outlook
Approves of CEO

293 Other Employee Reviews for Morningstar (View Most Recent)

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  1. 2 people found this helpful  

    Decent

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

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

    Pros

    Good work/life balance, people were generally friendly, good 401(k) match.

    Cons

    Low salary, low upward mobility, Morningstar Development Program was unorganized, flexible leave policy makes the organization ineffective, co-workers were not the most intelligent people.

    Advice to ManagementAdvice

    Have a more structured system that allows young analysts to move up within the ranks.

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