Legg Mason
3.3 of 5 63 reviews
www.leggmason.com Baltimore, MD 1000 to 5000 Employees

Legg Mason Reviews

Updated Jun 4, 2014

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3.3 63 reviews

                             

56% Approve of the CEO

Legg Mason President and CEO Mark R. Fetting

Mark R. Fetting

(32 ratings)

63% of employees recommend this company to a friend
63 Employee Reviews
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Review Highlights

Pros:
  • "Great company and good work life balance"
    in 5 reviews
  • "In my circle of colleagues I have had the privilege of working with smart, friendly people who are out for the greater good"
    in 3 reviews
Cons:
  • "Senior management lacks leadership qualities"
    in 8 reviews
  • "Sluggish recovery from the recession; doubtful organization structure; sometimes people could be too laid-back"
    in 4 reviews
  • Show more review highlights

Reviews

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    • Disapproves of CEO

    1 person found this helpful  

    Dissapointed

    Receptionist (Current Employee)
    New York, NY

    ProsThe medical benefits and corporate perks were helpful.Benefits

    ConsLack of cohesion in low to mid level management. Lack of professionalism and closed-off to new ideas.

    Advice to Senior ManagementTransparency, professional training, annually mandated management courses provided by Human Resource consultants (not in-house staff repeating from a manual).

    No, I would not recommend this company to a friend

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    Good place to work if you don't mind the red tape

    Lead Software Developer (Current Employee)
    Baltimore, MD

    ProsPay is good. People are treated well.

    ConsFinancial services companies have been hit pretty badly lately, so there have been layoffs and there is some instability. Some areas of the company are very stagnant and resistent to change because they are lead by very conservative management who are happy with the status quo.

    Advice to Senior ManagementInstead of outsourcing all technology, we'd be better off cleaning up what we have by getting rid of lots of red tape and making technology more customer focused. Get rid of the stagnant culture lead by "company men" who have been at Legg Mason for a while but now are just relying on their connections and senior positions without providing much value and actually slowing the progress of the company.

    Yes, I would recommend this company to a friend

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    Legg Mason - Prestigious, Professional but Failing?

    Anonymous Employee (Current Employee)
    Baltimore, MD

    ProsLegg Mason is a leader in its field of asset management. It manages over $600 billion in assets. Although just a few months ago it was close to $1 trillion. It is well known in Baltimore and is prestigious. My department does things to a high level of quality and is very professional. The co-workers are generally intellegent and hard working. Ad-hoc work teams are successfully formed for the completion of projects.

    ConsThere were heavy layoffs in December and smaller layoffs recently. There is often no letup in the work and you can begin to feel like a machine going from one task to the next. It has been described as being like a hamster on a wheel. There have been major losses recently. In a recent quarter over 1 billion was lost. Investment performance has been dismal and customers are moving hundreds of billions out of the company. The threat of more layoffs is ever present.

    Advice to Senior ManagementConsider firing failing money managers and consider other business models.

    Yes, I would recommend this company to a friend

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    Legg Mason -- Stamford, CT

    Vice President (Former Employee)
    Stamford, CT

    ProsNice, collaborative atmosphere. Attention to quality and detail is high. Respectful culture with smart people. Convenient non-Manhattan location.

    ConsCurrent financial strains led to downsizing. No effort was made to consider shorter work weeks or broad salary reductions before laying off employees. New senior managers immediately "brought in their own folks" and essentially swept out long-time valued employees.

    Advice to Senior ManagementThe first company that publicly finds a way around workforce reductions and creatively saves costs will be able to say that these extraordinary efforts were made to help the overall economy and keep as many people working as possible. This would garner very good press and could, in turn, boost sales through the free exposure.

    Yes, I would recommend this company to a friend

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    Simply Neutral

    Fund Accounting (Former Employee)
    New York, NY

    ProsReasonable compensation for the amount of work

    Consunresponsive management
    claims to have a formal internship program but HR coordinators are not accessible

    Advice to Senior ManagementBe more inclusive of interns if you would like talented people to stay with your firm.

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    Legg Mason Opportunity?

    Analyst (Current Employee)
    New York, NY

    ProsLegg Mason is a company of great job security and stability. The company is a top tier wall street firm with great history, and even though the financial downturns and turbulence, the company maintains its balance and strong model for success.

    ConsLegg Mason's upside of job security is also one of its down sides. Its model for retaining everyone even those of "Dead Wood" position along with a no-experience-only-tenure matters attitude, makes it difficult for ambitious and opportunistic employees to advance.

    Advice to Senior ManagementRe evaluate the situation of employees and some times it’s not about being fair, but it’s about doing what’s right.

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    Good work environment, but management could do better.

    Applications Developer (Former Employee)
    Baltimore, MD

    ProsLegg Mason is a very stable company that has developed an enviable track record over the past several years. With fund manager Bill Miller, the company has achieved international fame. Executives have a very clear vision for positioning the company in the future, and a detailed strategy on how to get there. Company has a very friendly and open culture, and benefits are quite good. Management was very supportive when it came to time off, sick leave and other unanticipated leave requests. Would not recommend it for those in their early career but overall a very good place to work once in management.

    ConsAt Legg Mason, there tended to be quite a few times when ad hoc projects came up which diverted resources from their primary use. I guess that happens at pretty much every large corporation, but it can be frustrating being pushed to the limit on projects that are "babies" of individual managers.

    Also, I would have preferred more open lines of communication. Peons were left in the dark numerous times, leading to a lot of gossip, rumors and a general sense of not being important enough to be trusted with high level discussions / directives.

    Advice to Senior ManagementClear and open lines of communication, please!

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    getting over the Citigroup bump in the road

    Director (Former Employee)
    New York, NY

    ProsLeading investment management company from AUM perspective. The company certainly has the scale for the potential to move up and around. However, the legacy organizations still haven't been fully integrated, so there is some mistrust and politics still occuring. This should be ironed out over the next few years and if Bill Miller's fund can regain its former glory, the profits and morale of the company will probably follow.

    If considering employment with Legg Mason, take into consideration which part of the company the job is in as some areas are "favored" over others...

    ConsBaltimore culture is a burden to NYC (former Citigroup employees). Poor stock performance hurts morale and restricted stock (130 to $55/share!)

    Advice to Senior Managementget that stock price back up!

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    Training opportunities available, but hard to attend.

    Admin. Assistant (Former Employee)
    Stamford, CT

    ProsLM is a solid company with a good reputation. They offer a fair compensation package and the benefits package is solid. The company offers many training opportunities and really wants their employees to grow. There were many different classes offered and outside teachers were brought in for the training.

    ConsSince the company is smaller than some of its competitors, the opportunity for growth is not as high as with similiar companies. ALthough there were many good training opportunities, it was sometimes difficult to get away to attend the training. They took place during company hours and managers often times disapproved of employees leaving to attend training. This is specifically true for administrative assistants and secretarys who would require coverage to attend these training sessions.

    Advice to Senior ManagementKeep up the good work.

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    I gained extensive experience here and learned a great deal.

    Anonymous Employee (Current Employee)

    ProsGood remuneration, good benefits, some training opportunities.

    ConsAt times it can be challenging to feel connected if not working out of either the head office or one of the other main campuses.

    Advice to Senior ManagementContinue to communicate with your affiliates and distribution partners to create an engaged worldwide team.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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