There are newer employer reviews for T. Rowe Price

3 people found this helpful  

Depends on where you work...

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Former Employee - Retirement Specialist  in  Owings Mills, MD
Former Employee - Retirement Specialist in Owings Mills, MD

I worked at T. Rowe Price full-time for more than 5 years

Pros

Friendly co-workers for the most part, that's the best part. Decent place to start off your career and get ground level experience in finance.

Cons

The entire department of Retirement Plan Services (RPS). I would highly recommend you AVOID this part of the company at all costs. They will advertise "room for advancement", but your pay never gets much better and the so-called advancement is just them circulating you through the departments. And unless you know someone, every "promotion" is preceded by an entire interview process, which is the sole deciding factor in you getting your new position. Its entirely conceivable to be crushing all of your departments rating metrics and be loved by your manager, but if the current 'leadership' happen to like someone else, then so sorry, try again next time.

In the end, even if you get the promotion, new managers working there for 5+ years will barely hit $50k, with no over-time pay. In my almost 6 years there, I never even broke the $45k mark.

This is the part where they will point out that if you're not salaried, then your income will be supplemented by overtime. Boy, will it ever. In the course of about 5 years, RPS went from occasional overtime and the ability to "flex" overtime and leave early some days, to constant overtime and no flexing allowed whatsoever. In some departments, they even have mandatory early start times and shortened lunches every week. Most weeks, you will know you have 2-3 hours of overtime coming, before you even start the week. Add on the additional overtime, and you're looking at a lot of 9-10 hour days, more the rule than an exception. Don't expect a personal life unless you have a family. If you have a family, you can cop out and claim you need to leave early or come in late and its usually universally acceptable. Anybody else, you're screwed, as you have to pick up the slack for those lucky few.

The final nail in the coffin is the stigma attached to RPS. Other departments won't hire you. They know that RPS hires, literally, uneducated people, and people with zero experience. So when you apply outside of RPS, your resume is often times ignored. Being internal is a liability more than a boon from within RPS. You might as well leave and work somewhere else, then in 6 months to a year, apply to that same position and you'll get an interview at the very least, probably even hired. Crazy.

Advice to ManagementAdvice

Priority number one is to PAY YOUR PEOPLE. I realize you hire a lot of under-experienced and uneducated people, but once you find good talent, pay those people more to keep them. I watched countless reps get hired, cycle through the departments, and then leave once they realized they wouldn't make any money. There is a constant ongoing training and coaching system that never stops, because once someone gets trained, they're off to greener pastures. There is literally no incentive to stay at TRP in RPS. The pay is sub par, the bonuses are laughable, and there is zero respect for a person's talent and experience. Shape up RPS.

Doesn't Recommend
Neutral Outlook
No opinion of CEO

267 Other Employee Reviews for T. Rowe Price (View Most Recent)

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  1. 3 people found this helpful  

    Disappointing

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

    I worked at T. Rowe Price full-time for more than 3 years

    Pros

    Excellent pay
    Some upward mobility opportunities
    Friendly and intelligent coworkers
    Fun, semi-frequent corporate events
    Frequent and interesting training
    Willing to hire and train people with no experience
    Good vacation time after a few years
    Fairly good insurance

    Cons

    Inconsistent rule enforcement
    Inconsistent management competence
    Inconsistent management support
    Inconsistent mobility opportunities
    Low flexibility on shifts
    Huge workload
    Lots of overtime, especially during the end of the year through the tax filing deadline
    High stress

    Advice to ManagementAdvice

    Overall, I think the company has just gotten a little too focused on cutting corners. When I first started, it was fun and enjoyable, but as more time went on, I started to feel that I was being squeezed for every ounce of work I could put out. If more time was devoted to processing or researching it would have been much less stressful. There was no time for anything off the phones, even outside of tax season, and it made for a very isolated and stressful work environment, especially when time off the phones was consistently cancelled. Maybe it would also end up being cheaper to just hire more people, rather than paying overtime and increasing the stress of the people already there.

    Some managers were excellent at helping to relieve stress, while others fostered it. Perhaps a more consistent approach to letting the supervisors and seniors focus on helping the phone reps would help, rather than constantly having them attend higher-up meetings.

    I would still recommend this job to friends who need something to learn about finances or how to talk to people, to make money for a little while, or to just get an entrance into the financial industry, but I would not recommend it as a career anymore.

    Recommends
    Negative Outlook
    Approves of CEO
  2. 1 person found this helpful  

    no opportunity for quick growth

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Service Associate  in  Baltimore, MD
    Current Employee - Service Associate in Baltimore, MD

    I have been working at T. Rowe Price full-time for more than a year

    Pros

    401k match, employee stock, good 1st job

    Cons

    no effort made to recognize or cultivate talent among young employees

    Advice to ManagementAdvice

    develop programs to help young associates further their careers

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
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