Putnam Investments
2.9 of 5 100 reviews
www.putnam.com Boston, MA 1000 to 5000 Employees

Putnam Investments Reviews

Updated Apr 2, 2014

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2.9 100 reviews

                             

53% Approve of the CEO

Putnam Investments President, CEO and Trustee Robert L. (Bob) Reynolds

Robert L. (Bob) Reynolds

(38 ratings)

50% of employees recommend this company to a friend
100 Employee Reviews
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Review Highlights

Pros:
  • "The benefits are great from the start"
    in 6 reviews
  • "Good benefits package, especially for those here for a long time"
    in 8 reviews
Cons:
  • "Had to pay for tuition out of pocket when they discontinued tuition reimbursement"
    in 6 reviews
  • "A lot of infighting among senior management and turf wars"
    in 4 reviews
  • Show more review highlights

Reviews

  • Culture & Values
         
  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • Approves of CEO

 

A great group of people working in a company that has it's problems

Technical Coordinator (Current Employee)
Andover, MA

I have been working at Putnam Investments full-time for more than a year

ProsGreat people to work with
Genuinely assist shareholders

ConsQuestionable management decisions
Past issues haunt the firm
No tuition reimbursement

Advice to Senior ManagementKeep moving forward. Work to reduce turnover. Compensate employees with pay raises and bonuses.

Yes, I would recommend this company to a friend

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  • Culture & Values
         
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  • Disapproves of CEO

 

Use to be a good place to work.

Project Manager (Current Employee)
Boston, MA

I have been working at Putnam Investments full-time for more than 10 years

ProsGreat 401K contributions.
Excellent family leave for new mothers and fathers.
Vacation time is earned quickly
Some good managers, some bad managers 50% chance of either.

ConsPutnam use to treat everyone with respect.
Putnam has now returned to the mentality of the 1990’s of “Do you know who I am”.
Most management is only looking out for themselves these days.
The ship is sinking.

Advice to Senior ManagementYou should bring back Ed Halderman, before your assets under management are bought out by another company and you are all out of a job.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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  • No Opinion of CEO

 

Intern

Anonymous Employee (Former Employee)
Andover, MA

I worked at Putnam Investments as an intern for less than a year

ProsFlexible Time which was great being a student with a full course load at the time.

ConsHuge Company, worked in a remote location within building.

Yes, I would recommend this company to a friend

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  • Culture & Values
         
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Bad and getting worse......

Operations Manager (Current Employee)
North Andover, MA

I have been working at Putnam Investments full-time for more than 10 years

ProsStill some good benefits. Health and Dental are reasonably priced and there are good option offerings. Profit sharing is fairly consistent each year. Vacation accrual is good if you can stay on long enough. Maternity & Paternity leave available.

ConsWork week used to be 35 hours, but changed to 37.5 randomly without augmenting salary or bonus in 2010. Layoffs always looming. Over the past several years it's turned into a "Survivor Island" environment. No room for collaboration since everyone is worried about their own fate. Fund performance still not very good. Communication is poor at all levels. Culture is still in a state of flux as it's moved from the Lasser - Halderman - Reynolds phases. Three different Senior Leaders with 3 diferent styles in less than 10 years. You can do better elsewhere within the fund industry. Especially in MA.

Advice to Senior ManagementGo back to treating the people in the organizaton like your best performing investment vehicle. It will yield you a great return in a short time.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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  • Culture & Values
         
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Good Work Environment

Developer (Current Employee)
Boston, MA

I have been working at Putnam Investments full-time for more than 8 years

ProsBenefits have historically been extremely good. They often will make up a 10k difference depending on your base salary over other employers. The work environment is not super high stress for the field but that will vary on division. Partial work at home available depending on division and job.

ConsUnstable outlook Merit raises, Bonuses, and benefits. Alot of ground has been lost in the last few years. Generally underpaid for the work that you do.

Advice to Senior ManagementSecure your talent, the job market is not as poor as it used to be.

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

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Great work environment, great benefits, poor salaries.

Operations Manager (Current Employee)
Andover, MA

I have been working at Putnam Investments full-time for more than 5 years

ProsThe work environment is fantastic, the people are great, and it's fairly easy to progress if your talented and driven. Despite a down couple of years, the management tries to keep the atmosphere positive with a winning mentality.

ConsThe largest downside is that the salaries are very out of whack with the rest of the state and industry. They pay well under the average for the amount of responsibility you are given.

Advice to Senior ManagementDespite rough times, you need to pay the talent you'd like to retain in areas other than the fund managers. Your slowly losing all the most driven employees that have been bringing the best ideas in the last 5 years.

Yes, I would recommend this company to a friend

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  • Culture & Values
         
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The worst place for smart people, the best place for junkies

Senior Systems Consultant (Former Employee)
Boston, MA

I worked at Putnam Investments full-time for more than 3 years

ProsIf you are good at fooling around and kissing ass, this is a place for you. Otherwise, stay away from it.

ConsI worked at IT department. There are so many incompetent employees, high school drop-outs, housewives who don't know **** about computers. Almost everything was controlled by a few "consultant" who like parasites sucking blood from the company. No way for new employee to learn anything. I was pushed into the company by a staffing company. The management is in constant struggles for power. Whoever gets upper hands will fire the people not hired by them.
The worst experience ever.

Advice to Senior ManagementThis company should not exist.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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Great learning experience in a professional environment.

Anonymous Employee (Current Employee)
Andover, MA

I have been working at Putnam Investments

ProsBenefits package is better than any other company I have worked at.

ConsSalary is much lower than desired, between 30-35,000/yr

Yes, I would recommend this company to a friend

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A shadow of its former self

Anonymous Employee (Former Employee)
Andover, MA

I worked at Putnam Investments

ProsThe people you work with are lovely and you really become part of a family within your group or team. Work/life balance is also great, especially if you have a family.

ConsPutnam has moved far away from their motto of One Putnam and it shows in the programs that they have chosen to stop. It is very discouraging to work for an investment firm that does not invest in their people. Morale is low and Putnam is just a paycheck for most people there.

Advice to Senior ManagementDevelop internal talent as well as getting new managers that will breath life into the organization.

No, I would not recommend this company to a friend

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  • Work/Life Balance
         
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Not the company it use to be

Anonymous Employee (Current Employee)
Andover, MA

I have been working at Putnam Investments

ProsHours of operation
People
Decent health benefits
Internal helpdesk
Parking

ConsLack of advancement
No raises
Pay not in line with industry
Perks such as tuition reimbursement, gift matching gone
Computer systems are falling apart

Advice to Senior ManagementStop operating in crisis management, if you want to build the company back to where it was in the 90s you have to act like that's the plan, not take the stance of "be happy you have a job".

No, I would not recommend this company to a friend

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