T. Rowe Price

  www.troweprice.com
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T. Rowe Price Reviews

Updated Jul 21, 2014
All Employees Current Employees Only

3.3 260 reviews

87% Approve of the CEO

T. Rowe Price President, CEO, and Director James A. C. Kennedy

James A. C. Kennedy

(184 ratings)

68% of employees recommend this company to a friend

Review Highlights

Pros
  • Very people friendly company, with good work/life balance(in 19 reviews)

  • Great benefits and comfortable work environment(in 36 reviews)


Cons
  • headset policy is cumbersome, even for a call center)(in 14 reviews)

  • Impact to ability to have appropriate work life balance(in 6 reviews)

260 Employee Reviews
in
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    slow death

    Phone Monkey (Former Employee) Tampa, FL

    Prosnone benefits and a stock match if you can make it a year..advancement is poor, manegement dosen't care about your family or health and they lie for a living.good luck!

    Consno recognition poor interaction and feedback of advance opps

    Advice to Senior Managementdont work there

    No, I would not recommend this company to a friend

    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

    1 person found this helpful  

    TRPIT can be a cut-throat culture.

    Business Analyst (Former Employee) Baltimore, MD

    ProsReasonable Pay, Great Benefits. Good work-life balance, if not on call.

    ConsCulture in TRPIT can be cut-throat. Inter-departmental coordination can be difficult.

    Advice to Senior ManagementMake better hiring decisions when filling senior positions from the outside.

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

    1 person found this helpful  

    Management talks the talk but doesn't walk the walk

    Manager (Former Employee) Owings Mills, MD

    ProsOwings Mills campus is pretty but in a dull area. Benefits are good but not the best.

    ConsNew executive team wants you to "challenge the status quo," and "take risks" but the minute you do you're an outsider. To succeed, you need to keep your head down and follow orders. Managers who sit in their office and only manage people are rewarded, managers that contribute are viewed as too tactical. "You're too tactical, you need to be more strategic." Strategic = meet all day, talk and accomplish nothing.

    Advice to Senior ManagementThe leadership team (GR 47+) should be more visible and do skip level meetings. I left my manager, not T. Rowe Price.

    No, I would not recommend this company to a friend

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    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

    4 people found this helpful  

    Lowered Expectations

    Brokerage Representative (Former Employee) Tampa, FL

    ProsThe people you'll work with at T.Rowe Price are for the most part the best people you'll meet at any job you'll ever have. Enough Said. You will be able to get your licenses and they let you study while you're at work now. This has changed since when I started. Back in the day, you studied at home.The company will go above and beyond NOT to lay folks off. Even in 2008, when layoffs were done, they were done more as a reduction in force = they let go the low performers. We're talking less than one out of 10 people.

    ConsIf you're in Tampa, believe me when I say - Baltimore/Owings Mills forgets you exist - until it's really windy or there is an inch of snow. You will then be forced to do mandatory overtime. Thanks for cooperating and here is a box of SnoCaps for your troubles. Seriously, they gave us SnoCaps (candy). This would be funny if it didn't happen EVERY year. You'll have to help out the Colorado office too when it snows. That's right...when it snows. It's odd that snow in Colorado would close down an office isn't it? Surely they've seen snow before. The best open secret is when they close down the office - that site isn't charged a vacation day. This is a highly kept secret that management acts like doesn't exist when talking to the Tampa office.

    The other great problem of being in the Tampa office has to do with opportunities. You've got a chance to basically be promoted two or three times before you'll top out. There's no where else to go....unless you want to go to Baltimore. Most folks in Tampa aren't interested in going to Baltimore for obvious reasons. So, T. Rowe Price then has their good employees who aren't just "collecting a paycheck" leave to other opportunities in the Tampa Bay area. This is an epidemic that is getting worse and worse day by day.

    Diversity and Inclusion is brought up all the time. That is all well and good, but to be inclusive or diverse just to check off a box or pat ourselves on the back is INSANE. Hire THE BEST people for the job not because of their skin color or their chromosomes or their sexual preference or their religion or etc... This has been mentioned in other reviews as well and there's been a big push towards these hiring practices. These practices have become more apparent since the company hasn't required a college education to be hired. I'm pretty sure this is done so they don't hire a high flyer who get their licenses and the just leaves the company, but they have someone who's content in having a job and won't leave.

    Also, having Brokerage reps do Tradelink 401k calls is comical. They're doing that no in addition to taking orders for the following: Non-TRP Mutual Funds, Precious Metals, Options (Spreads & Straddles), Treasuries, Corporates, Munis, UITs, Agencies, Equities, ETFs, Reorgs, Splits, Mergers, Tax Research, etc... Brokerage has kept getting more put on it's plate as other departments dump things on us. It's very frustrating as a Brokerage rep to have someone in PSG who is paid at a higher pay when they've shown they can't or don't want to do our job - even though 64% of PSG clients have BROKERAGE accounts!

    Advice to Senior ManagementDoing more with less since 2008. This has become worse and worse the longer I've been with it. I know every company has done this since 2008, but it just seems quite extreme. I'm doing more work with more responsibilities and not being paid more or more importantly appreciated. Please, please, please, let people have a work/life balance. That's hard to do with people on the phones, but it is possible - I know other companies do it. Also, don't be so reactive and be more proactive. We're always buying umbrellas AFTER it rains it seems. Hire some more people please! One more thing...please train people in a timely manner. It makes ZERO sense to give someone a pay increase before they can actually facilitate the role. After you get the pay increase, what's the incentive in being trained for your new role and passing all those FINRA exams?? If you change this - you'll see the go-getters rise to the top.

    No, I would not recommend this company to a friend

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

     

    Good place to start career, but not a lasting move though

    Investment Guidance Specialist (Former Employee) Colorado Springs, CO

    ProsSteady work
    Learn a lot about investing
    Great investments

    ConsReward seniority, not aptitude.
    "Brain-shackles" (i.e., headset policy is cumbersome, even for a call center)
    Limited upward mobility.
    Ruled by the clock

    Yes, I would recommend this company to a friend

    1 person found this helpful  

    You get what you pay for!

    Anonymous Employee (Current Employee)

    ProsGreat 401k, downtown office is nice, learned a lot about office politics and the types of people to avoid in my career.

    ConsPoor, detached, unengaged and ignorant leadership. Most managers remind me of children that are playing "Office," just like children would play "House" or "Doctor." I believe the low low salaries attract weak and insecure talent. Beware of competitive leaders who will back stab you for a few hundred more dollars in their already tiny bonuses. This reminds me of hungry dogs fighting over a single bone. The desperation and uncertainty of income and advancement adds to the low employee morale. The skills that are taught are non-transferable. They are only relevant to specific tasks. If you are young you will be expected to perform basic Excel tasks for upper management because they are not trained on modern technology. Oh, by the way, they still use Excel for everything! It's 2013! If you are smart and talented - stay away - this company does not know how to foster your growth.

    Advice to Senior ManagementHire and promote, smart educated people. And pay them a competitive salary! Base that salary on the skills they are bringing to the organization and not the cost of living adjustment you gave them the year before.

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

    3 people found this helpful  

    It is somewhere to get started in your financial career, but move on ASAP.

    Anonymous Employee (Current Employee) Tampa, FL

    ProsThey pay for you to get licensed, and they offer benefits.

    ConsI have worked for the company going on 3 years now, and I have seen many things deteriorate on a quickening pace. First, when I started, TRP was known to have good benefits packages. They have gotten MUCH worse. The entire call center is consistently understaffed, under paid, and over worked. OT is required almost every week, and they will switch your schedule on a moments notice. Over the years, the job opportunities to move up in the company have diminished to almost nothing. Management has consistently increased workloads on employees, without offering proper compensation for the increase. And finally, the management does NOT take employees concerns and opinions into serious consideration.

    Advice to Senior ManagementListen to your employees. They bring in multi millions of dollars into the company for you, and happy employees equal increased sales. If you try something, and it doesnt seem to work, dont continue down the bad path!

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

    6 people found this helpful  

    Moving on

    Supervisor (Current Employee) Colorado Springs, CO

    Pros401k Match and Investment Choices
    Gain a better understanding of the financial industry.
    Time off

    ConsSalary is horrible and does not keep pace. For instance if you are starting as a Supervisor you will receive around $51k and a Supervisor that has been in the role for lets say 4-5 years will make $53k. To make things worse a few associates with overtime may make as much or more than you. Year after year we are told that it is being reviewed, but it always remains the same. A lot of great talent is lost to other companies once a ceiling is met.

    The management tends to focus on the low performing associates more than the associates that are meeting or exceeding expectations.

    At one point (6 years ago) T. Rowe Price only hired people with a college degree, now it hires anyone that has some sort of customer service and can answer a behavioral question on the interview right.

    If an associate discusses something with HR it is quickly spread to the management team. I have told multiple associates to not discuss certain things with HR as it may harm them with how they are perceived by the management team.

    The current health care package is a joke.

    Advice to Senior ManagementTake a look at your current Management structure as you have people in a leadership role that only know how to gossip behind closed doors and bring personal problems to work.

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

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

    1 person found this helpful  

    Wonderful company for investors, terrible for employees

    Investment Specialist (Current Employee) Colorado Springs, CO

    ProsGood benefits
    good pay
    flexible time off

    Conseverything is disorganized
    supervisors are out of touch
    there is no support

    Advice to Senior Managementget together and make a plan to be there for your employees and then stick to it. Everything is so chaotic all the time

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

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

    1 person found this helpful  

    Great starter company

    PArticipant Service Center (Current Employee)

    ProsBenefits, extracurricular activities (league softball, basketball),

    ConsSalary, Disorganized, a lot of changes in management, Departments do not work together but against eachother.

    Advice to Senior ManagementPay your PSC Reps more, stop mandatory OT. See how to develop employees throughout the company and not just for your department

    Yes, I would recommend this company to a friend – I'm not optimistic about the outlook for this company

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