Legg Mason

  www.leggmason.com
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Legg Mason Reviews

Updated August 10, 2014
Updated August 10, 2014
66 Reviews

3.3
66 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Legg Mason President and CEO Mark R. Fetting
Mark R. Fetting
33 Ratings

Review Highlights

Pros
  • Great company and good work life balance (in 5 reviews)

  • Friendly people, great reputation in the area (in 4 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)

More Highlights

Employee Reviews

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  1. 1 person found this helpful  

    Dissapointed

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Receptionist  in  New York, NY
    Current Employee - Receptionist in New York, NY

    Pros

    The medical benefits and corporate perks were helpful.Benefits

    Cons

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

    Advice to ManagementAdvice

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

    Doesn't Recommend
    Disapproves of CEO
  2.  

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

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Lead Software Developer  in  Baltimore, MD
    Current Employee - Lead Software Developer in Baltimore, MD

    Pros

    Pay is good. People are treated well.

    Cons

    Financial 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 ManagementAdvice

    Instead 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.

    Recommends
    No opinion of CEO
  3.  

    Legg Mason - Prestigious, Professional but Failing?

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Anonymous Employee  in  Baltimore, MD
    Current Employee - Anonymous Employee in Baltimore, MD

    Pros

    Legg 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.

    Cons

    There 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 ManagementAdvice

    Consider firing failing money managers and consider other business models.

    Recommends
    No opinion of CEO
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  5.  

    Legg Mason -- Stamford, CT

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Vice President  in  Stamford, CT
    Former Employee - Vice President in Stamford, CT

    Pros

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

    Cons

    Current 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 ManagementAdvice

    The 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.

    Recommends
    Approves of CEO
  6.  

    Simply Neutral

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Fund Accounting  in  New York, NY
    Former Employee - Fund Accounting in New York, NY

    Pros

    Reasonable compensation for the amount of work

    Cons

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

    Advice to ManagementAdvice

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

    No opinion of CEO
  7.  

    Legg Mason Opportunity?

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Analyst  in  New York, NY
    Current Employee - Analyst in New York, NY

    Pros

    Legg 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.

    Cons

    Legg 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 ManagementAdvice

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

    Approves of CEO
  8.  

    Good work environment, but management could do better.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Applications Developer  in  Baltimore, MD
    Former Employee - Applications Developer in Baltimore, MD

    Pros

    Legg 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.

    Cons

    At 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 ManagementAdvice

    Clear and open lines of communication, please!

    No opinion of CEO
  9.  

    getting over the Citigroup bump in the road

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Director  in  New York, NY
    Former Employee - Director in New York, NY

    Pros

    Leading 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...

    Cons

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

    Advice to ManagementAdvice

    get that stock price back up!

    Approves of CEO
  10.  

    Training opportunities available, but hard to attend.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Admin. Assistant  in  Stamford, CT
    Former Employee - Admin. Assistant in Stamford, CT

    Pros

    LM 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.

    Cons

    Since 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 ManagementAdvice

    Keep up the good work.

    Approves of CEO
  11.  

    Great people to work with

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    Very nice culture and good work-life balance environment yet still efficient. Very few political issues within the parent company. Generous on salary as well.

    Cons

    Communication between affiliates and the parent isn't so well sometimes and the multi-affiliate model brings in some conflicts. Products' poor performance is the biggest challenge for growth.

    Advice to ManagementAdvice

    Improving products' performance and considering advertisements to market the brand name. The company also needs stability for securing existing investors and prospects.

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