There are newer employer reviews for Vanguard
There are newer employer reviews for Vanguard

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Great place to start career as well as work/life balance.

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

I have been working at Vanguard full-time (More than 3 years)

Recommends
Positive Outlook
Approves of CEO
Recommends
Positive Outlook
Approves of CEO

Pros

Training is second to none, they really make sure you are ready for the job when you hit the floor.

Cons

Sometimes tough to move through company as a lot of employees are going for same positions.

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  1. Helpful (9)

    For a recent college graduate, hard to complain

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Retirement Plan Service Representative in Malvern, PA
    Current Employee - Retirement Plan Service Representative in Malvern, PA

    I have been working at Vanguard full-time (Less than a year)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    As a Retirement Plan Service Representative (formerly known as Client Relationship Associate) I'm responsible for answering questions from those enrolled in their employers 401k's. Don't let anyone fool you, this is a call center job, but it is incoming so at least you're not cold calling or telemarketing. I answer roughly 50 phone calls a day helping partipants take a loan/withdrawal from their 401k's, discuss the investment options available in their employer plans, and various other questions. On many occasions you are dealing with very polite people and helping them with investment decisions which can feel very rewarding. On a few occasions you are dealing with complete jerks who are yelling at you because the government doesn't allow them to withdraw from their retirement plan to buy a new flat-screen tv (after awhile you will begin enjoying telling these morons off). Call center appears to be a 2 year stint (paying your dues so to speak) and people usually do not have a hard time moving on to bigger and better things (non-phone jobs, pay better but not great)

    PROS
    - Partnership bonus each summer for every employee (Even lowest tenured employee looking at anywhere from $2,000 - $4,000)
    - Lots of paid time off (18 vacation/sick, 9 paid holidays, 1 Volunteer day off, and usually awarded 1-2 additional days via company contests and such, plus option to purchase an additional 5 days)
    - Health Benefits are great, on-site infirmary and fitness center
    - Cheap on-site dining
    - AMAZING retirement plan (if you work here for 35 years, you will retire a millionaire without even breaking a sweat, if you contribute 4%, employer contributes 14%)
    - Above average opportunities for career advancement
    - Vanguard looks great on resumes
    - Very good work/life balance
    - Very reputable company, you feel honored to work for a company with impeccable ethics

    Cons

    -Base salary would be respectable in Southern USA but hard to live off in the suburbs.
    -Promotions are geared toward promoting diversity at higher levels
    -Hire recent college graduates for a leadership development program and then make them the boss of people who have been there for many years ( I don't know about you but I have a tough time taking orders from a 23 year old college graduate)
    - Being a phone associate can be rough and at times you feel glued to your headset
    - Very micromanaged, as a phone associate even your bathroom breaks are timed

    Advice to Management

    Need to increase base pay at least 10% at lower levels to keep employees from leaving (or going on food stamps for that matter).


  2. Helpful (12)

    Excellent workplace but Vanguard will not pay to retain talent.

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Associate in Malvern, PA
    Current Employee - Financial Associate in Malvern, PA

    I have been working at Vanguard full-time (More than a year)

    Recommends
    Neutral Outlook
    Approves of CEO
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    Diverse workplace with a lot of side events
    Many on site services such as gym, places to eat, auto and dry cleaning, etc.
    Benefits such as PTO, affordable health care, dental, vision, etc.
    Great work / life balance - generally you leave work at work.
    Opportunity to educate though Vanguard University and virtual learning
    All things considered a very ethical company because of the structure

    Cons

    Low base compensation (Vanguard claims it's in line with industry average. Malvern and the Philly suburbs are very expensive, but the wages are in line with country living wages).
    Raises are less than inflation so your earnings effectively decrease. 2-3% is considered a great raise, and most people get less.
    Unrealistic expectations and always expected to take on additional side projects and initiatives (multiple at one time) causing employees to be overworked.
    Management talks the talk about engagement but firmly manages top down.
    Management encourages, and in some cases coaches, your answers in the annual survey.
    Very political, as most large companies are.

    Advice to Management

    Management frequently beats the drum of being a best place to work and a destination for talent, but look around, talent leaves just as quickly as it comes because the low base pay is not sustainable. Vanguard also never relaxes, which is good for the company, constantly raising the bar and looking beyond this decade, but employee morale decreases as we're increasingly overworked and under compensated. Low expense ratios, at what cost?


There are newer employer reviews for Vanguard
There are newer employer reviews for Vanguard

See Most Recent

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