T. Rowe Price

  www.troweprice.com
  www.troweprice.com

T. Rowe Price Reviews

Updated December 13, 2014
Updated December 13, 2014
287 Reviews
3.6
287 Reviews
Rating Trends

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

Review Highlights

Pros
  • The company offers great work life balance, benefits, stock purchasing, etc (in 25 reviews)

  • Great benefits and comfortable work environment (in 38 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. 1 person found this helpful  

    Great starter company

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

    I have been working at T. Rowe Price full-time (more than 3 years)

    Pros

    Benefits, extracurricular activities (league softball, basketball),

    Cons

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

    Advice to ManagementAdvice

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

    Recommends
    Negative Outlook
    Approves of CEO
  2. 1 person found this helpful  

    Over worked and under paid

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

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

    Pros

    Stable 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.

    Cons

    No 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.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  3. 4 people found this helpful  

    More Cons than Pros

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

    I worked at T. Rowe Price full-time (more than 5 years)

    Pros

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

    Cons

    Where 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 ManagementAdvice

    Hire 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.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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  5. 3 people found this helpful  

    Depends on where you work...

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

    I worked at T. Rowe Price full-time (more than 5 years)

    Pros

    Friendly 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.

    Cons

    The 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 ManagementAdvice

    Priority 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.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  6. 3 people found this helpful  

    Disappointing

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

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

    Pros

    Excellent 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

    Cons

    Inconsistent 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 ManagementAdvice

    Overall, 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.

    Recommends
    Negative Outlook
    Approves of CEO
  7. 1 person found this helpful  

    no opportunity for quick growth

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

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

    Pros

    401k match, employee stock, good 1st job

    Cons

    no effort made to recognize or cultivate talent among young employees

    Advice to ManagementAdvice

    develop programs to help young associates further their careers

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  8.  

    Not the company of "integrity" they claim to be

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

    Pros

    Great benefits for the low pay.

    Cons

    Management 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 ManagementAdvice

    Deal 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.

    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO
  9. 5 people found this helpful  

    Get your licenses and get out!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Investment Counselor in Tampa, FL
    Current Employee - Investment Counselor in Tampa, FL

    I have been working at T. Rowe Price full-time

    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%

    Cons

    Its 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 ManagementAdvice

    Ask 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.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  10. 1 person found this helpful  

    Used to be a lot better than it is now

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Retirement Plan Coordinator
    Current Employee - Retirement Plan Coordinator

    I have been working at T. Rowe Price

    Pros

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

    Cons

    There 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.

    Doesn't Recommend
    No opinion of CEO
  11.  

    Less than ideal

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

    I worked at T. Rowe Price

    Pros

    Benefits, area discounts, good retirement program

    Cons

    Too much change, too little progress

    Advice to ManagementAdvice

    Value your employees

    Doesn't Recommend
    No opinion of CEO

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