T. Rowe Price

  www.troweprice.com
  www.troweprice.com

T. Rowe Price Reviews

Updated October 18, 2014
Updated October 18, 2014
277 Reviews
3.6
277 Reviews
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T. Rowe Price President, CEO, and Director James A. C. Kennedy
James A. C. Kennedy
191 Ratings

Review Highlights

Pros
  • The company offers great work life balance, benefits, stock purchasing, etc (in 23 reviews)

  • Great benefits and comfortable work environment (in 37 reviews)


Cons
  • headset policy is cumbersome, even for a call center) (in 15 reviews)

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

More Highlights

Employee Reviews

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  1.  

    Grueling and stressfull

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - PSC in Owings Mills, MD
    Current Employee - PSC in Owings Mills, MD

    I have been working at T. Rowe Price full-time (less than an year)

    Pros

    No weekends, but only because the stock market is closed. Be sure if it wasn't they'd force mandatory weekends

    Cons

    Exceedingly low salary for the industry.

    No accountability amoung departments, forced mandatory overtime, no regard for the employees personal needs, incompetant supervisors that shirk responsibility when convenient and micro manage you down to the nano second of your day

    Steeped and motivated only by the good ole "Not what you know, but who you know" politics so typical of call centers, but even more so at this company

    Only way to get out is to quit or transfer, but transfers unlikely if you don't have a direct manager that loves you and for that be prepared to be a major brown nose!

    Advice to ManagementAdvice

    Bring starting salaries up to something inline with the 21st century so staff can at least justify the misery when cashing their paychecks

    Hold supervisors accountable to their roles

    Hire more people to relieve the overtime burden on those that are forced to shoulder it simply because the overtime pay equates to more head count anyway if you do the math finacially

    Doesn't Recommend
    Neutral Outlook
  2.  

    Horrible to work for unless on inside track.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Anonymous Employee in Colorado Springs, CO
    Former Employee - Anonymous Employee in Colorado Springs, CO

    I worked at T. Rowe Price

    Pros

    Benefits and overtime compensation are similar to other corporate benefits; however, rewards will be in the form of cards or gifts.

    Cons

    Horrible management and supervisors who do not know the job, are too inexperienced and raises will be given to only those people who cheat the system to get ahead of their coworkers.

    Advice to ManagementAdvice

    Top down management style does not meet bottom up management style except headon for numerous conflcts. Suggest periodic hands on involvement instead of showing up a few times per year for group meetings and working with each department to provide world class customer service.

    Doesn't Recommend
  3. 3 people found this helpful  

    Will hire right out of college - just don't stick around too long

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Senior In PSC in Owings Mills, MD
    Former Employee - Senior In PSC in Owings Mills, MD

    I worked at T. Rowe Price

    Pros

    T. Rowe will hire someone as soon as they graduate college, without any experience required. You get decent training to learn what you need to know. In this position, you will also get a fair amount of industry knowledge that will be helpful in future jobs.

    Cons

    The pay is terrible. Most associates still live at home with their parents due to the lack of compensation. Promotions are based on who management likes best, rather than the strongest workers. The job itself is completely mundane and repetitive. You do the same thing all day, every day. You are required to request days off months ahead of time and will be turned down often. Each one of your colleagues also hates their job, so the morale is terrible. Your schedule is set so if you are even a minute late, you get a "warning" and eventually get "written up." They are so afraid to fire anyone that many of your colleagues are completely inadequate at his/her job and you spend most days cleaning up their mistakes. Additionally, management tells you how great your benefits are, but as soon as you go to another company you realize that they weren't good at all.

    Lesson learned: Work there for a year, get your licenses... apply to other competitors in the area. You'll make way more money and actually like your job.

    Advice to ManagementAdvice

    1. Pay your associates more and you will stop seeing such high turnover. 2. Promote based on performance rather than who your friends with and who you want to go to happy hour with and you'll have managers who can actually do their job. 3. You'd be better off sending your call center to another country and letting the talented college graduates do something that doesn't make them hate coming to work every day.

    "It's what's best for the company..." is never what's best for your employees. The more bad decisions you make, the more employees you will see leave.

    Doesn't Recommend
    No opinion of CEO
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  5. 2 people found this helpful  

    Terrible Place to Work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Investment Operations Associate
    Former Employee - Investment Operations Associate

    I worked at T. Rowe Price

    Pros

    Employee Stock Purchase Plan, Health Benefits

    Cons

    Terrible Management, Minimal Graduate Degree Funding, Low Starting Salaries, Redundant Work, No Growth Opportunities Internally, Operations Layoffs Will Continue

    Advice to ManagementAdvice

    Fire the entire management staff in Operations, especially the manager of the Fund of Funds group

    Doesn't Recommend
    Disapproves of CEO
  6.  

    They work you hard and pay you dirt.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Retail Sales Associate in Owings Mills, MD
    Current Employee - Retail Sales Associate in Owings Mills, MD

    I have been working at T. Rowe Price

    Pros

    Very nice people to work with. Easy to make friends with co-workers. 401k benefits are great.

    Cons

    They do not paid fairly. It is who you know here, not what you know. There is a ton of overtime and make sure you keep track because they will rip you off. Like others say, it is like working in a sweat shop. Do not try and work here unless you are trying to get a job right out of college.

    Advice to ManagementAdvice

    Need to learn to manage.

    Doesn't Recommend
    Disapproves of CEO
  7. 1 person found this helpful  

    Hidden agendas

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Service Specialist in Colorado Springs, CO
    Former Employee - Service Specialist in Colorado Springs, CO

    I worked at T. Rowe Price

    Pros

    The benefits were really great but they have been eliminating some. Can join health insurance, 401k, etc within a month if not sooner. Peers are amazing people.

    Cons

    Peers scolded regularly, many in tears daily. Expectations conflict, not possible for the honest associate to meet expectations, therefore bypassed for raises. Dishonesty encouraged, rewarded. Associates disrespected and lied to. Every computer keystroke recorded but mgmt lacks ability to properly analyze. Reports generated, associates harassed, time wasted trying to determine why odd data appeared on a report instead of concentrating on job, creates more errors and more stress. No opportunity to learn or advance. Associates encouraged to make up stories (lies) for internal behaviorial inteviews. Quality and customer service no longer treated as desirable attributes.

    Advice to ManagementAdvice

    Year end road show - in reality the customer is treated the opposite of stated goals. Local mgmt: Stop hiding the truth. Let people know what you want, don't pretend the situation is the opposite of reality. You have good intelligent employees, quit treating them like ignorant children. Learn how to read the Big Brother reports instead of harassing associates with outrageous assumptions about how they spend their day. Remember, the associate is not the only party to the Code of Ethics.

    Doesn't Recommend
    Disapproves of CEO
  8. 1 person found this helpful  

    2 1/2 Years in Hell

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Investment Specialist in Colorado Springs, CO
    Former Employee - Investment Specialist in Colorado Springs, CO

    I worked at T. Rowe Price

    Pros

    If you're fresh out of college and want to get into the financial industry this would be a great place to start. They will cover the cost of your licensing teach you about mutual funds and annuities. They will help you obtain your series 7, 63 and 65 or 66 (combo 63/65). The benefits are great, and they pick up a lot of the cost of your health insurance premiums.

    Cons

    If you are over 45 years of age, forget advancement. It's a 20 -30 something company if you're re-inventing yourself. Lower and middle management is immature and inexperienced. Last week's process was A, this week's is B. Communication is so poor, you'll only find out about B because you're getting written up about still performing A. Innovation on the bottom ranks is not rewarded, and sometimes presented to upper management with the lower supervisor's name as the originator.

    Advice to ManagementAdvice

    They asked me this question when I resigned and my answer was, "If you really cared, you would have listened to me while I was there." OK, so here's my answer: Hire Michael Gerber of E-Myth to repair and integrate your broken systems. Hire Jack Welch to teach your middle and lower management how to get your employees to grasp your vision, take ownership and run with it. Let your employees take calculated risks. Reward, don't punish innovation and you'll find your turn over greatly reduced and employee morale up.

    Doesn't Recommend
    Disapproves of CEO
  9. 3 people found this helpful  

    Avoid working at T. Rowe Price as all costs!!!

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

    I have been working at T. Rowe Price

    Pros

    Very good benefit package
    Many good people work for this company
    I believe Jim Kennedy is a good man who doesn't know how people are being treated
    I'm sure the company started out actually caring about its employees, but somewhere along the line that has been lost.

    Cons

    HORRIBLE PLACE TO WORK: Torturous workload, gruelling hours, sweatshop environment, not enough people to process work. Impossible to please managers because parameters of job change daily. Managers are hired from other departments and most don't have a clue what those under them do. Horrible work-life balance because of the hours of overtime that are expected, especially during tax season. The expectations management has for the processors to meet productivity and quality numbers is unrealistic and the pressure they place on their employees is inhumane. People are literally killing themselves to escape the nightmare that is their job.

    Advice to ManagementAdvice

    The company claims to value their employees, but their words are empty. Why is it acceptable for you to destroy the confidence and sense of mental well-being of those who are in your employ? The productivity and quality metrics are obviously set by those that do not process, because they are impossible to meet. A processor can break his back doing his very best for the customer and for the good of the company, but no matter how hard he tries, he will never succeed. Employees don't dare speak out against the horrible way they are treated because they cannot afford to lose their job.

    Doesn't Recommend
    Approves of CEO
  10. 3 people found this helpful  

    A lot of Smoke and Mirrors

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - High Enough to Know Enough
    Former Employee - High Enough to Know Enough

    I worked at T. Rowe Price

    Pros

    Great history and reputation.Great, if not the best, at managing the message internally and externally, you will never know the truth about anything.

    Cons

    Lost the heritage of the company since the change in executive management. The message is not being delivered down through the company as it is intended. Beware of smiling assassins. Moved to 'management by fear' in some organizations.

    Advice to ManagementAdvice

    Executive management need to make sure that their message is being conveyed and executed in the spirit it is given as opposed to being for middle/senior management's own self fulfillment.

    Doesn't Recommend
    Disapproves of CEO
  11. 1 person found this helpful  

    Conservative Investing, conservative corporate culture

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Senior Associate
    Current Employee - Senior Associate

    I have been working at T. Rowe Price

    Pros

    If your fresh out of school or looking to change careers, T. Rowe Price is a great place to start. Great name, responsible/conservative money management, great 401k choices and a reasonable number of hours in the work week round out my experience here. TROW is in a great position in the industry to capitalize on the current market condition and is poised for growth in the future.

    Cons

    The company is conservative in nature and is very slow to adapt to changes. For instance, the majority of the workforce here is grossly underpaid and certain groups are overworked. Not a great model considering all employees are compensated based on the same scale and the fact that promotional and annual merit raises are non-negotiable. Adding insult to injury is the small raise dollar amount of these increases due to the miniscule base salary. Bonuses are paid yearly, however in order to realize the full benefit of them you would have to stay with the company 5 years as a portion of the bonus goes straight to your 401k.

    Advice to ManagementAdvice

    Listen more. Even if you've been at the company 10+ years be open to less tenured associates ideas/opinions.

    Doesn't Recommend
    Approves of CEO

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