T. Rowe Price

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T. Rowe Price Reviews

Updated Jul 22, 2014
All Employees Current Employees Only

3.3 261 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)

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

    1 person found this helpful  

    Over worked and under paid

    Financial Representative (Former Employee) Owings Mills, MD

    ProsStable company with very few lay offs and they do a lot of work with the community and ask for volunteers for a variety of things.

    ConsNo balance between family life and work, the pay is very low compared to other mutual fund companies, and its hard to advance to other positions.

    No, I would not recommend this company to a friend

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

    4 people found this helpful  

    More Cons than Pros

    Supervisor (Former Employee) Owings Mills, MD

    ProsGreat culture, great looking campus, good place for building a financial education foundation.

    ConsWhere do I begin......is anyone really expected to believe a review written where everything is wonderful and the writer's only Cons are "location, heat, and traffic cops???" Really? I had friends in HR who would tell me that HR would go in and instead of reviewing the cons to see what they could fix they would put these bogus positive reviews. There's your first problem.

    Second, dont hold forums to ask associates and management what upper management can do to help improve the department just to appease them then not act on their ideas. Your associates are not idiots and know that is all you do. You guys think you're sneaky but you're not. Next, hire more people. You wonder why you have tons of OT in every department all of the time.......well its because the company is growing. When you have 1,000 plans in 2008 and now have over 1,400 plans in 2013 yet you have the same number of associates servicing that number of customers you're going to have tons of OT. Its basic business management. I understand that there are budgets you need to stick to but if you're client base is growing that rapidly you should be able to afford hiring more people, unless you promise these clients the world with custom plan features that the company cant follow through on making it hard on the associates who perform these functions and who have to work tons of OT to make these promises happen, yet get a 0.49% increase and $500 bonus. Finally the pay is horrible. Quit saying that the benefits are great and they offset the lower pay cause it doesnt.

    Benefits are mediocre, at best. Make the pay competitive and the bonuses and merit raises something to strive for. If you have everyone working well above the department average and they get their year end rating as a "Solid Performer" with a minimal raise and bonus dont wonder why they slow their production down the following year. If you worked your butt off and didnt get recognized for it wouldnt you work less???

    Advice to Senior ManagementHire mid and upper management based on what they know, not cause their nice. I've seen too many seniors doing supervisor jobs and supervisors doing group manager jobs because their bosses dont know what their doing. Its not rocket science, promote cause they can make a difference not because they're a "yes" man/woman.

    Also, if there are issues dont go to the DM or GM of the department - go to the root of the problem and ask the associates, seniors and supervisors and most of all dont hold these meetings with said DMs and GMs in the room or you're not going to get all of the facts. Do a skip level every once in a while. The mid level management is going to do nothing but try to hide it and the supervisors dont want to say anything bad in front of their bosses.

    Finally PAY YOUR EMPLOYEES!!!! I cant tell you how many employees have left to go on to make $15-30k more per year doing less work in their same role at another company. Review the salary structure and ask can we really keep expecting more without compensating for it? With salary so low employees are not inclined to stay for increased stress with not enough money to offset it. This give your competitors a unique edge and ability to easily poach your talent away from you.

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

    • Culture & Values
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    • No Opinion of CEO

    3 people found this helpful  

    Depends on where you work...

    Retirement Specialist (Former Employee) Owings Mills, MD

    ProsFriendly co-workers for the most part, that's the best part. Decent place to start off your career and get ground level experience in finance.

    ConsThe entire department of Retirement Plan Services (RPS). I would highly recommend you AVOID this part of the company at all costs. They will advertise "room for advancement", but your pay never gets much better and the so-called advancement is just them circulating you through the departments. And unless you know someone, every "promotion" is preceded by an entire interview process, which is the sole deciding factor in you getting your new position. Its entirely conceivable to be crushing all of your departments rating metrics and be loved by your manager, but if the current 'leadership' happen to like someone else, then so sorry, try again next time.

    In the end, even if you get the promotion, new managers working there for 5+ years will barely hit $50k, with no over-time pay. In my almost 6 years there, I never even broke the $45k mark.

    This is the part where they will point out that if you're not salaried, then your income will be supplemented by overtime. Boy, will it ever. In the course of about 5 years, RPS went from occasional overtime and the ability to "flex" overtime and leave early some days, to constant overtime and no flexing allowed whatsoever. In some departments, they even have mandatory early start times and shortened lunches every week. Most weeks, you will know you have 2-3 hours of overtime coming, before you even start the week. Add on the additional overtime, and you're looking at a lot of 9-10 hour days, more the rule than an exception. Don't expect a personal life unless you have a family. If you have a family, you can cop out and claim you need to leave early or come in late and its usually universally acceptable. Anybody else, you're screwed, as you have to pick up the slack for those lucky few.

    The final nail in the coffin is the stigma attached to RPS. Other departments won't hire you. They know that RPS hires, literally, uneducated people, and people with zero experience. So when you apply outside of RPS, your resume is often times ignored. Being internal is a liability more than a boon from within RPS. You might as well leave and work somewhere else, then in 6 months to a year, apply to that same position and you'll get an interview at the very least, probably even hired. Crazy.

    Advice to Senior ManagementPriority number one is to PAY YOUR PEOPLE. I realize you hire a lot of under-experienced and uneducated people, but once you find good talent, pay those people more to keep them. I watched countless reps get hired, cycle through the departments, and then leave once they realized they wouldn't make any money. There is a constant ongoing training and coaching system that never stops, because once someone gets trained, they're off to greener pastures. There is literally no incentive to stay at TRP in RPS. The pay is sub par, the bonuses are laughable, and there is zero respect for a person's talent and experience. Shape up RPS.

    No, I would not recommend this company to a friend

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    • Culture & Values
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    3 people found this helpful  

    Disappointing

    Anonymous Employee (Former Employee) Colorado Springs, CO

    ProsExcellent pay
    Some upward mobility opportunities
    Friendly and intelligent coworkers
    Fun, semi-frequent corporate events
    Frequent and interesting training
    Willing to hire and train people with no experience
    Good vacation time after a few years
    Fairly good insurance

    ConsInconsistent rule enforcement
    Inconsistent management competence
    Inconsistent management support
    Inconsistent mobility opportunities
    Low flexibility on shifts
    Huge workload
    Lots of overtime, especially during the end of the year through the tax filing deadline
    High stress

    Advice to Senior ManagementOverall, I think the company has just gotten a little too focused on cutting corners. When I first started, it was fun and enjoyable, but as more time went on, I started to feel that I was being squeezed for every ounce of work I could put out. If more time was devoted to processing or researching it would have been much less stressful. There was no time for anything off the phones, even outside of tax season, and it made for a very isolated and stressful work environment, especially when time off the phones was consistently cancelled. Maybe it would also end up being cheaper to just hire more people, rather than paying overtime and increasing the stress of the people already there.

    Some managers were excellent at helping to relieve stress, while others fostered it. Perhaps a more consistent approach to letting the supervisors and seniors focus on helping the phone reps would help, rather than constantly having them attend higher-up meetings.

    I would still recommend this job to friends who need something to learn about finances or how to talk to people, to make money for a little while, or to just get an entrance into the financial industry, but I would not recommend it as a career anymore.

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

    • Culture & Values
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    • Senior Management
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    • Career Opportunities
    • Approves of CEO

    1 person found this helpful  

    no opportunity for quick growth

    Service Associate (Current Employee) Baltimore, MD

    Pros401k match, employee stock, good 1st job

    Consno effort made to recognize or cultivate talent among young employees

    Advice to Senior Managementdevelop programs to help young associates further their careers

    No, I would not recommend this company to a friend

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

     

    Not the company of "integrity" they claim to be

    Investment Specialist (Former Employee) Colorado Springs, CO

    ProsGreat benefits for the low pay.

    ConsManagement is a lot of group think. They have extremely sneaky and vindictive Group Managers. I would recommend looking around for new work if you're employed there.

    Advice to Senior ManagementDeal with the fact that the people who make the job work are the ones who take the calls, not the robots in middle management who are glorified 'Yes men". You may know how to make money, but you do it on the backs of the phone reps, whom you do not value. Talking points formulas don't work well with some people. Get rid of the spreadsheets that tell your employees everything that's wrong with them. Integrity is more of a verbalism than a reality there.

    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
    • No Opinion of CEO

    5 people found this helpful  

    Get your licenses and get out!

    Investment Counselor (Current Employee) Tampa, FL

    Pros-Stability
    -Simplicity of work
    Great place to work while pursuing additional credentials (CFA, CFP, MBA/MS)
    -Pay for any licenses that are required for your role
    -99% of the associates are easy to get along with and are generally down to earth people
    -If you do your job there is the potential for a bonus at the associate level (3-8%) and you do have the opportunity to receive a salary increase at the beginning of every calendar year
    -This company does A LOT to help you save for your retirement, more than any other company I've ever worked for plus the stock purchase program is basically an additional 2%

    ConsIts a call center, never forget that. Regardless of the department or your position title including management. If volumes are projected to be high, you have to work overtime and no it is not optional. The company expects you to accommodate every one of their requests to be flexible, but don't even try to ask for the company to be flexible because its nothing short of a waste of breath.

    The company tries to fluff up how different departments operate but when it comes down to it, it is a service based company. Management is good for the most part, but its all one big game of perception. You may do next to nothing but if the higher-ups like you or think youre trying hard to improve they eat it up. It's a big game of who can get to Raymond James next in the sales and upper level Retirement sales departments and if you're not trying to get to Raymond James, you're probably sitting for the CFA/CFP or are going to grad school at night.

    Scheduling is a nightmare and they have a program that micro-manages associates up the minute. It tells you where you are suppose to be and reminds you 10 minutes before. If youre not where you're suppose to for more than 5 minutes, you get yelled at.

    I've never worked in a more depressing work atmosphere. No one is looking forward to doing their job, and this depressed vibe has spread across the site.

    The current manner in which employees are rates and bonuses determined is nothing short of a popularity contest.

    Advice to Senior ManagementAsk more associate feedback about their superiors. Increase incentives for associates to participate in activities and contests. Develop a clear cut way to evaluate employee performance.

    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  

    Used to be a lot better than it is now

    Retirement Plan Coordinator (Current Employee)

    ProsThey are pretty flexible when it comes to time off and the 401k program is good.

    ConsThere is little to no opportunity for advancement. They say that one of their focuses is on "attracting and retaining the best talent" but take few to no steps to do so. You are severely overworked and underpaid for the amount of work you do in this role. Our department has lost over 30 people in the last 6 months, and nearly all of them left for better opportunities elsewhere, like Aon or Fidelity. The caliber of new hire we see now is a lot worse than it used to be. Management needs to take some fairly significant steps to improve this job.

    No, I would not recommend this company to a friend

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

     

    Less than ideal

    Anonymous Employee (Former Employee)

    ProsBenefits, area discounts, good retirement program

    ConsToo much change, too little progress

    Advice to Senior ManagementValue your employees

    No, I would not recommend this company to a friend

    • Work/Life Balance
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    Not a long term career

    Business Analyst (Current Employee)

    ProsReasonable benefits and vacation, but that's not uncommon amongst most employers. Culture is good overall; however, egos are promenant in investment related areas.

    ConsThis is not a company to work for long term and particularly if you want to climb the "corporate latter" to make a decent living. Politics are increasing evident as you move up in the ranks, and salaries are far from standard if you take that path. Get the experience and move on after 3 or 4 years. Otherwise, expect big promotions if you play your cards right....with little compensation to justify the role. Turn a position down, and you'll likely end up in Siberia. Company over-elaborates the fact that they provide benefits. Sure you get healthcare, etc... but all companies offer those perks. For the extra few days of vacation and additional retirement benefits (based on a percentage of your already pathetic salary) it's definitely not worth the sacrafice.

    Advice to Senior ManagementThis is difficult to provide as it is largely dependent upon your area. Overall, management is accomodating; however, the growth of the company and "penny pincing" mentality often leads to understaffing or delayed re-staffing. Management has minimal control over compensation, so don't expect them to step up for you when comp time comes around.

    No, I would not recommend this company to a friend

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