Putnam Investments Reviews

Updated August 20, 2014
Updated August 20, 2014
107 Reviews

3.1
107 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Putnam Investments President, CEO and Trustee Robert L. (Bob) Reynolds
Robert L. (Bob) Reynolds
42 Ratings

Review Highlights

Pros
  • The benefits are great from the start (in 6 reviews)

  • The work life balance is really good, or was for me (in 5 reviews)


Cons
  • They pulled tuition reimbursement across the board, with no notice (in 6 reviews)

  • A lot of infighting among senior management and turf wars (in 4 reviews)

More Highlights

Employee Reviews

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  1. 1 person found this helpful  

    Bad and getting worse......

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Operations Manager  in  North Andover, MA
    Current Employee - Operations Manager in North Andover, MA

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

    Pros

    Still 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.

    Cons

    Work 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 ManagementAdvice

    Go 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.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2.  

    Good Work Environment

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Developer  in  Boston, MA
    Current Employee - Developer in Boston, MA

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

    Pros

    Benefits 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.

    Cons

    Unstable 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 ManagementAdvice

    Secure your talent, the job market is not as poor as it used to be.

    Recommends
    Positive Outlook
    Approves of CEO
  3.  

    Great work environment, great benefits, poor salaries.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Operations Manager  in  Andover, MA
    Current Employee - Operations Manager in Andover, MA

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

    Pros

    The 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.

    Cons

    The 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 ManagementAdvice

    Despite 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.

    Recommends
    Neutral Outlook
    Approves of CEO
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  5. 1 person found this helpful  

    The worst place for smart people, the best place for junkies

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Systems Consultant  in  Boston, MA
    Former Employee - Senior Systems Consultant in Boston, MA

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

    Pros

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

    Cons

    I 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 ManagementAdvice

    This company should not exist.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  6.  

    Great learning experience in a professional environment.

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

    I have been working at Putnam Investments

    Pros

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

    Cons

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

    Recommends
    Approves of CEO
  7.  

    A shadow of its former self

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Anonymous Employee  in  Andover, MA
    Former Employee - Anonymous Employee in Andover, MA

    I worked at Putnam Investments

    Pros

    The 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.

    Cons

    Putnam 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 ManagementAdvice

    Develop internal talent as well as getting new managers that will breath life into the organization.

    Doesn't Recommend
    Disapproves of CEO
  8.  

    Not the company it use to be

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

    I have been working at Putnam Investments

    Pros

    Hours of operation
    People
    Decent health benefits
    Internal helpdesk
    Parking

    Cons

    Lack 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 ManagementAdvice

    Stop 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".

    Doesn't Recommend
    Approves of CEO
  9.  

    Politics politics politics

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Regional Marketing Assistant  in  Andover, MA
    Current Employee - Regional Marketing Assistant in Andover, MA

    I have been working at Putnam Investments

    Pros

    - EXCELLENT training program. Known within the community that you are building a solid sales foundation.
    - Great health benefits
    - Energetic sales force

    Cons

    - Politics dominate who gets promoted and when it happens... females are VERY rarely given the opportunity for better territories or wholesaling promotions.
    - They pulled tuition reimbursement across the board, with no notice.
    - Pay scale has been changed several times from what promised in the initial interview. Some levels of pay were not even mentioned as a possibility in the interview.
    - Not all management is practiced in the field, lack of experience.

    Advice to ManagementAdvice

    Recognize and reward the hardest workers and not those purely playing a game of ass kissing... or the guys that "look the part".

    Doesn't Recommend
    Approves of CEO
  10. 1 person found this helpful  

    For the most part my experience was positive.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Technical Coordinator  in  Andover, MA
    Former Employee - Technical Coordinator in Andover, MA

    I worked at Putnam Investments

    Pros

    Great benefits, though they seem to be disappearing as the years go by. Good people to work with.

    Cons

    Some management do not treat everyone fairly. There is to much favoritism, sometimes it is undeserved. The atmosphere has turned away from the customer to towards internal competition. It makes employees step on others to make themselves look good.

    Advice to ManagementAdvice

    Change the competition atmosphere as it no longer focuses on the shareholders, brokers and the good of Putnam overall.

    Disapproves of CEO
  11.  

    Handle inquiries from 401K participants

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Participant Service Representative  in  Andover, MA
    Former Employee - Participant Service Representative in Andover, MA

    I worked at Putnam Investments

    Pros

    Great Benefits and good time off

    Cons

    Low Pay. Hard to break into new level positions

    Advice to ManagementAdvice

    Lose a tier of middle managers. COMPENSATE good work

    No opinion of CEO

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