Lord Abbett & Co.

  www.lordabbett.com
  www.lordabbett.com

Lord Abbett & Co. Reviews

Updated December 13, 2014
Updated December 13, 2014
44 Reviews
2.5
44 Reviews
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Lord Abbett & Co. Senior Partner Robert S Dow
Robert S Dow
24 Ratings

Employee Reviews

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  1.  

    People don't appreciate how good this company is.

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

    I have been working at Lord Abbett & Co.

    Pros

    The company is in a tough industry, actively managed mutual funds in a time of etfs. Many of their products have underperformed. Yet they treat their employees very well in a cultural sense. They definitely emphasize a family life work-life balance. The place is generally a ghost town by 5:30.

    Cons

    Tough business model for the future
    Compensation is below market
    People sometimes feel as if they are working in a stagnating company (they are right, so what)

    Advice to ManagementAdvice

    Focus on launching some new funds, people are looking for some hope for the future

    Recommends
    Neutral Outlook
  2. 3 people found this helpful  

    Frustrating

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Lord Abbett & Co.

    Pros

    Great benefits. Company subsidizes most for single people. Premiums rarely increase. Onsite cafeteria and parking garage. Gym in building. Everyone in firm is physically in reach.

    Cons

    Cheap. Limited investments in technology and in salary. No bonuses for non-sales associates. Limited salary growth and limited path to advancement. No lateral movement possible. Would rather hire outside people instead of building from within. Micromanagement and conservatism abound. Conservative attire but also conservative and limited thoughts on change and growth.

    Advice to ManagementAdvice

    Build from within. Pay better and incentivize success - esepically in operations and other support groups. Create pathways to promotion and eliminate ineffective management - no group needs as many managers as non- management.

  3. 3 people found this helpful  

    No progress

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Software Engineer in Jersey City, NJ
    Current Employee - Software Engineer in Jersey City, NJ

    I have been working at Lord Abbett & Co. full-time (more than 8 years)

    Pros

    Very high-end feel to the environment. Everyone dressed well and feel "official" all the time. Good salary and competitive basic benefits.

    Cons

    Hard to get ahead even if you work hard. You will get a feel of "not up to the task" all the time and there by lose confidence.

    Negative Outlook
    No opinion of CEO
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  5. 1 person found this helpful  

    Equity business in decline

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee in Jersey City, NJ
    Former Employee - Anonymous Employee in Jersey City, NJ

    I worked at Lord Abbett & Co. full-time (more than 5 years)

    Pros

    - Good work life balance
    - Nice offices with on-site gym
    - People generally nice
    - Good vacation and benefits

    Cons

    - Poor management/leadership - Management has decimated equity business and missed a huge bull market and people at top are completely checked out. The greed at the top is shocking. Fixed income side of the business has done better performance and asset growth wise, but still not where they should be and generally poor leadership down there as well. The firm is not positioned well for the future with no products or PM talent in equities anymore. Having a difficult time attracting and retaining talent. Only people they can get anymore, when they can get them, have baggage. Some pressure from the board, but they don't seem to understand the equity business or how to manage money managers. It's incredibly difficult to turn around investment firms like this once they've entered a downward spiral. I don't think the firm goes out of business, but clear problems and will get worse before it gets better (if it gets better)..

    Advice to ManagementAdvice

    Restart with outside management in investments. Complete revamp of equity side needed. Find some good PMs, put the incentives in place for them to perform and then leave them alone.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  6. 2 people found this helpful  

    It's a job - not a career, unless you're in the inner circle.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee in Jersey City, NJ
    Former Employee - Anonymous Employee in Jersey City, NJ

    I worked at Lord Abbett & Co. full-time (more than 5 years)

    Pros

    Experience, nice physical environment, good benefits that are very competitive. If you can survive here, you can survive anywhere else you get employed with less stress.

    Cons

    Task master partners boss you and work you hard. Don't believe promises if they are not guaranteed in writing. Hard to get ahead from where you started.Very structured and organized not conducive to creative types.

    Advice to ManagementAdvice

    Top down insulated culture, not listening to subordinates and reigning with iron fist and unfairly is hurting the company's reputation, culture and talent pool. Read the employee reviews in Glassdoor and you'll know that the partners running the place can do a lot better and should consider changing their authoritarian and counter-productive management style.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  7. 6 people found this helpful  

    Horrible. Do not work here if you can avoid it. You'll be miserable.

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

    I worked at Lord Abbett & Co. full-time (more than an year)

    Pros

    Cafeteria and gym, but so what?

    Cons

    I don't know where to begin. I do see there are many other poor reviews here, and "the Lord's" overall rating is quite low, so perhaps I'm not adding much that's new. But here goes: If they want you, they'll be nice, but that ends pretty quickly once you actually start: they're quite belittling and arrogant in ways that are neither necessary nor appropriate. It is a particularly harsh environment for women. Most employees are not given career paths or mentoring. There are no clear lines of authority; everyone wants to be in charge, but few wish to be accountable. In this age of mobility, they don't allow telecommuting, and people chafe at the suit and tie dress code - even on holidays, Fridays and 100 degree days. The firm is really run by a handful of folks who seem out of touch. Projects are frequently blown up with no explanation - a huge waste of money for a firm that is so closely held. I've also seen them waste vast sums on paying recruiter fees, only to see those new hires leave rather quickly for one reason or anther. It's quite staggering. I know that there a fair number of jerks in the financial services industry - but there are also some very nice people as well. Lord Abbett has more than its share of the former and far too few of the latter. I am now at a firm that is far superior to Lord Abbett in every respect mentioned here - and have helped bring in two people. We're all much happier - and productive.

    Advice to ManagementAdvice

    Resign.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  8. 6 people found this helpful  

    A once promising company decimated by the upper management.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Supervisor in Jersey City, NJ
    Former Employee - Supervisor in Jersey City, NJ

    I worked at Lord Abbett & Co. full-time (more than 5 years)

    Pros

    Gym on site, good health benefits, decent cafeteria.

    Cons

    Lord Abbett is a company lead by people who do not like people. The upper management, consisting of 5 to 6 people, have no interest or understanding of the products involved in the funds they manage. This is left to the middle management. Little to no support is provided to the staff to perform their job tasks. When something goes wrong the staff is fingered with harsh consequences. Staff turnover rate very high. Commuting is very tough for those who live in the suburbs (not really the firm's fault bug rather the state's).

    Advice to ManagementAdvice

    If the current CEO has any interest in carrying on Bob Dow's legacy maybe try to revert to some of his standards. Also, consider speaking to your top management. Otherwise, you will lose the talent, you have acquired,
    time and time again.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  9. 5 people found this helpful  

    Sad

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Lord Abbett & Co. full-time (more than 3 years)

    Pros

    Fancy feel, good starting salary. Cafeteria. Seems like a good setup if you already are married with three kids to feed and need a low stress unchallenging gig with a mundane routine. Work loads are light.

    Cons

    Stuffy. Employee culture seems unwelcoming and clique-y. Intelligent employees given little motivation or direction on what to shoot for, poor management examples to follow. Unspoken nepotism. Bored employees aren't motivated to take on new opportunities. Outdated technology. Lots of Grumps.

    Advice to ManagementAdvice

    Give those who show potential something worth striving for. Half the team I worked with barely had a grasp on what the company did.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  10.  

    Project Lead

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

    I have been working at Lord Abbett & Co.

    Pros

    Good work life balance , good health insurance

    Cons

    No work from home policy, Technologies used were a bit outdated

  11. 1 person found this helpful  

    Regional Consultant Review

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Regional Consultant in Jersey City, NJ
    Current Employee - Regional Consultant in Jersey City, NJ

    I have been working at Lord Abbett & Co. full-time (more than 3 years)

    Pros

    One of the best sales forces in the industry. Highly regarded throughout the industry and puts you through a strong training program. Good work life balance.

    Cons

    Lower compensation compared to the rest of the industry (for internals). Minimum opportunity to move elsewhere in the firm besides seeking the external wholesaling role

    Advice to ManagementAdvice

    More training in regards to selling. Better call metrics standards.

    Recommends
    Positive Outlook
    Approves of CEO

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