T. Rowe Price Reviews

Updated July 5, 2015
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324 Employee Reviews

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  1. Helpful (3)

    What's wrong with me now is absolutely correct

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

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

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    recession proof employment, unless the market were to dive like in 2008 you'll pretty much always have this job as long as you can tolerate it

    Cons

    EVERYTHING - the writer who posted "what's wrong with me now" got it spot on ! ....In PSC we are constantly micromanaged!. There are only two types of employees at TRowe; those who are under the bus, and those who are constantly throwing you under it. The only incentive to hit numbers and meet metrics is so you can stay out of trouble, but given that all mistakes are blamed on the front line customer facing phone reps that's pretty next to impossible. Supervisors are a special kind of absent, when they are around they are too busy to help you, but instead will sit at their computers and stalk your online activity. The only thing that matters to anyone with a title is answering as many calls as possible, not that they would actually log in and assist with that effort. This is all they know. When it comes to solving problems you will dismissed and told to ask someone else. It''s bad. General managers - another very elusive bunch. Not accessbile, not accountable, not concerned with the welfare or morale of the workforce that takes the brunt of all the stress both externally from clients or the ridiculous demands forced upon us. If you like "don't question a thing" dictatorship style management you've found the place. If you want to be valued for your work and compensated fairly seriously reconsider working here. You will regret it.

    Advice to Management

    What can really be said that you'll actually do anything about ? How about hiring Gallup to anonymously poll your employees in the participant service center - now there's some advice ! I dare you --- while you're at it,, enough with mandatory overtime no one wants - stop it. We're worn out, burned out, exhausted !


  2. Helpful (5)

    What's wrong with me, now?

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

    I worked at T. Rowe Price full-time (More than 10 years)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Good benefits, but not as good as they used to be.

    Cons

    STRESS factory. The place, literally, made me sick!

    Advice to Management

    Get some training, middle managers, on how to avoid group-think. Also, tell your GMs not to lie about policies when questioned by floor reps, thus throwing them under the bus with DMs I'd love to name names, but T Rowe would probably file suit. It's gotten worse, from what other former employees tell me. I'd never recommend T Rowe to anyone as an employer--except as a stepping stone to better things. I'd advise newbies to let T Rowe pay for their licenses, and then JUMP SHIP!


  3. Helpful (3)

    Couldn't leave fast enough

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Investment Specialist
    Former Employee - Investment Specialist

    I worked at T. Rowe Price full-time (More than 3 years)

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    Co-workers, You learn a lot about personal finance

    Cons

    Working in a call center is hard no matter where you are but the environment that this company has created has contributed to more than 20% of the Sales department leaving in the last 6 months. You are over worked and under valued. The micro management is so extreme I've heard someone coached to sit up straighter. You clock in and clock out and every single minute of your day is monitored. There is NO work/life balance. You will have to work weekends and don't even think about getting time off unless you ask 2/3 months in advance. I worked there through 3 holiday seasons and never once got off Christmas Eve or Black Friday off through their "lottery" system. Middle management is rampant with some of the most incompetent people I've met in the industry and like stated in previous posts is very political. Bonus' are not competitive and don't expect a pay increase of more than 2%. There is very little opportunity for advancement outside of a call center position if that is where you started. It doesn't help that they just closed almost all of their branches. Overall I would not recommend staying at this company for my longer than a year.

    Advice to Management

    This is to the GMs and the DMs. You NEED to value your employees more. You're losing your most talented employees and hiring less qualified less intelligent people to talk on the phones. Do you see the problem, especially since you decided to have this be the only venue for investors? Your hiring people that can't even obtain their licenses. Focus more on retention of EMPLOYEES not just investors. Also if you really expect USM to work you better start loosening your pockets. How can you honestly expect an employee to do 4x the work for a $1000 pay increase?


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  5. Helpful (3)

    Associate

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

    I have been working at T. Rowe Price (More than 3 years)

    Doesn't Recommend
    Doesn't Recommend

    Pros

    very good benefits, good foundation for understanding the financial world

    Cons

    Extremely long hours and your salary is horrible. When you have overtime everyday of the week plus coming in early a couple times a week it demoralizes you and kills the morale of an already understaffed team. Associates aren't valued and are seen as interchangeable parts. We've had 5 people from our team leave the company in the last five months. Extremely micro-managed as well.

    Advice to Management

    Pay your employees more money. You can't say your salary is "competetive" when other companies are paying their employees 10k plus for similiar work. Examine why people are leaving the company and see what they can do to prevent that happening in the future. If you pay your employees more and cut down on the overtime, I can guarentee you the morale would be much better on the floor. Don't also send out emails saying how appreciative you are of everyone's hard work and as a reward you can have a jeans day on such and such day. It's beyond embarrasing. We're not in fifth grade.


  6. Helpful (4)

    State Government but without the frills

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

    I have been working at T. Rowe Price full-time (More than 8 years)

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    Pros

    Plenty of nice hard working people in the production roles.
    You can depend on the people you work with, because if they couldn't produce they would have been forced out a long time ago.
    Free Folgers in the break room.

    Cons

    Way too many layers of management.
    Limited people in production roles with supervisors, managers, business unit heads over them contributing little.
    Spends millions on consultants that provide no value, only suggestions for the future initiatives that never happen.
    Limited room for growth, very conservative with adding new positions.
    Very big on watered down job descriptions that immediately expand once you start, though which are never updated to reflect the new work.
    You can work your way from the bottom to the middle, but any position above that they are going to look to hire from the outside. If you are coming from the outside, look to make 20-30% more then your peers in the same roles (good for you though).

    Advice to Management

    I have seen countless smart and hardworking people leave because the comp is so lacking compared to industry peers. You would rather have a person spend 1-2 years learning a new role then pay somebody who knows it inside and out the 2-3k to stay.
    You used to fire back the "great benefits pitch" but now you have taken all of them away.


  7. Grueling and stressfull

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

    Doesn't Recommend
    Neutral Outlook
    Doesn't Recommend
    Neutral Outlook

    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 Management

    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


  8. Horrible to work for unless on inside track.

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

    I worked at T. Rowe Price

    Doesn't Recommend
    Doesn't Recommend

    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 Management

    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.


  9. Helpful (3)

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

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

    I worked at T. Rowe Price

    Doesn't Recommend
    No opinion of CEO
    Doesn't Recommend
    No opinion of CEO

    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 Management

    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.


  10. Helpful (2)

    Terrible Place to Work

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

    I worked at T. Rowe Price

    Doesn't Recommend
    Disapproves of CEO
    Doesn't Recommend
    Disapproves of CEO

    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 Management

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


  11. They work you hard and pay you dirt.

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

    Doesn't Recommend
    Disapproves of CEO
    Doesn't Recommend
    Disapproves of CEO

    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 Management

    Need to learn to manage.



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