There are newer employer reviews for Vanguard

13 people found this helpful  

Opportunity to gain industry experience, but LEAVE after that --- the pay is insulting!

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Career Opportunities
Current Employee - Client Relationship Administrator in Scottsdale, AZ
Current Employee - Client Relationship Administrator in Scottsdale, AZ

I have been working at Vanguard

Pros

The company has a great reputation with clients, and, to a degree, in the industry as well. For the most part, the associates are truly nice.

Cons

They are a low cost provider, which is great for their clients but not for their employees. That equates to pathetic salaries, and corners cut every which way possible, as in some pretty archaic computer systems. Likewise, they are VERY conservative which is evident in how long it takes to move initiatives forward. Sadly enough, they think they're progressing to the point where they can play with the "big boys" - but what they do not grasp is that the "big boys" have been there already for at least 10 years. Management in one elite department has no idea how to strategically reach that goal because of the constant fighting and posturing. Immature, unproductive and unprofessional. It's a large, behemoth that is much more concerned with touting the marketing concept of "we're the low cost provider" instead of paying their people what they are really worth. STOP lowering the expense ratios and using that as a way to wage war on Schwab. Schwab may have higher expense ratios, but they pay their associates better, which in turn creates larger numbers of loyal employees. NOT employees that are scared to leave because they don't know what else is "out there." When the economy does turn around, and it will, they had better be prepared for the mass exodus that WILL occur.

Advice to ManagementAdvice

If you want Vanguard to be the premier company that each of you says, be willing to swallow your own pride, LISTEN to the ideas your associates have and get your act together. It's embarrassing to see your lack of leadership and cooperation. We have seen you hire seasoned people from the outside because of the industry experience and expertise you said they had. "We can all learn from them - GREAT! Why do you then ignore the great ideas they have and hope they start drinking the Vanguard koolaid. If you have been in the proverbial boat with each other for countless years, why is it the ship is still being rowed in circles?

Doesn't Recommend
No opinion of CEO

707 Other Employee Reviews for Vanguard (View Most Recent)

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  1. 3 people found this helpful  

    Post financial-crisis, it was great to have a job.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Client Relationship Associate in Scottsdale, AZ
    Current Employee - Client Relationship Associate in Scottsdale, AZ

    I have been working at Vanguard

    Pros

    The training provided as a new hire was much stronger than that for most of the industry. The 401k package is quite strong and the health coverage is above average. Vanguard has very strong ethics. The company has never laid anyone off - ever!

    Cons

    The longer you work there, the more you will learn of the short-comings of the company. To name a couple: there are constant technology issues that never get fixed, sometimes no one knows what is going on with a particular business process, the company cannot admit it made a mistake, and the company continues to hire college graduates into leadership positions that do not have the proper background, training or experience, thereby creating inferior people leaders. Cash compensation is lower than average.

    Advice to ManagementAdvice

    During the push to make Vanguard a "best place to work," you have cut the most popular (and generous) health care plan, changed the bonus structure to the detriment of tenured crew, made no apparent push to increase salaries, all while the workload has increased. Don't treat us like children. If you need to cut expenses, just tell us that's what you're doing.

    Recommends
    Approves of CEO
  2. 8 people found this helpful  

    One foot on the brake, one foot on the gas

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

    I worked at Vanguard

    Pros

    Very good total benefits package. 401k contributions are great. Friendly atmosphere. The Vanguard name is recognized as a leader in the industry.

    Cons

    Very process oriented in everything. Lots of meetings and discussions that may not lead to any real progress. Some managers are in their roles simply because the length of time they have been with the Company. Promotion seems to be based on seniority instead of merit.

    Advice to ManagementAdvice

    If you are going to say that everything is based on performance, than follow through with it. It is clear that is the direction management wants to go but your mid level managers don't seem to care about it.

    Recommends
    Approves of CEO
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