There are newer employer reviews for T. Rowe Price
There are newer employer reviews for T. Rowe Price

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Helpful (5)

More Cons than Pros

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

I worked at T. Rowe Price full-time (More than 5 years)

Doesn't Recommend
Negative Outlook
Disapproves of CEO
Doesn't Recommend
Negative Outlook
Disapproves of CEO

Pros

Great culture, great looking campus, good place for building a financial education foundation.

Cons

Where do I begin......is anyone really expected to believe a review written where everything is wonderful and the writer's only Cons are "location, heat, and traffic cops???" Really? I had friends in HR who would tell me that HR would go in and instead of reviewing the cons to see what they could fix they would put these bogus positive reviews. There's your first problem. Second, dont hold forums to ask associates and management what upper management can do to help improve the department just to appease them then not act on their ideas. Your associates are not idiots and know that is all you do. You guys think you're sneaky but you're not. Next, hire more people. You wonder why you have tons of OT in every department all of the time.......well its because the company is growing. When you have 1,000 plans in 2008 and now have over 1,400 plans in 2013 yet you have the same number of associates servicing that number of customers you're going to have tons of OT. Its basic business management. I understand that there are budgets you need to stick to but if you're client base is growing that rapidly you should be able to afford hiring more people, unless you promise these clients the world with custom plan features that the company cant follow through on making it hard on the associates who perform these functions and who have to work tons of OT to make these promises happen, yet get a 0.49% increase and $500 bonus. Finally the pay is horrible. Quit saying that the benefits are great and they offset the lower pay cause it doesnt. Benefits are mediocre, at best. Make the pay competitive and the bonuses and merit raises something to strive for. If you have everyone working well above the department average and they get their year end rating as a "Solid Performer" with a minimal raise and bonus dont wonder why they slow their production down the following year. If you worked your butt off and didnt get recognized for it wouldnt you work less???

Advice to Management

Hire mid and upper management based on what they know, not cause their nice. I've seen too many seniors doing supervisor jobs and supervisors doing group manager jobs because their bosses dont know what their doing. Its not rocket science, promote cause they can make a difference not because they're a "yes" man/woman. Also, if there are issues dont go to the DM or GM of the department - go to the root of the problem and ask the associates, seniors and supervisors and most of all dont hold these meetings with said DMs and GMs in the room or you're not going to get all of the facts. Do a skip level every once in a while. The mid level management is going to do nothing but try to hide it and the supervisors dont want to say anything bad in front of their bosses. Finally PAY YOUR EMPLOYEES!!!! I cant tell you how many employees have left to go on to make $15-30k more per year doing less work in their same role at another company. Review the salary structure and ask can we really keep expecting more without compensating for it? With salary so low employees are not inclined to stay for increased stress with not enough money to offset it. This give your competitors a unique edge and ability to easily poach your talent away from you.

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  1. Great company to work for

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at T. Rowe Price full-time (More than 5 years)

    Recommends
    Approves of CEO
    Recommends
    Approves of CEO

    Pros

    Performance based and are recognized for your hard work.

    Cons

    Very corporate and conservative and stuffy.

    Advice to Management

    Listen to your employees more often.


  2. Helpful (3)

    Depends on where you work...

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

    I worked at T. Rowe Price full-time (More than 5 years)

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

    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 Management

    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.


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