T. Rowe Price Reviews

Updated August 14, 2014
Updated August 14, 2014
282 Reviews

3.5
282 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
T. Rowe Price President, CEO, and Director James A. C. Kennedy
James A. C. Kennedy
201 Ratings

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
  • Career opportunities in Colorado Springs were limited to call center management (in 14 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  

    You get what you pay for!

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at T. Rowe Price

    Pros

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

    Cons

    Poor, 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 ManagementAdvice

    Hire 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.

  2. 3 people found this helpful  

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

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

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

    Pros

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

    Cons

    I 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 ManagementAdvice

    Listen 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!

  3. 6 people found this helpful  

    Moving on

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

    I have been working at T. Rowe Price full-time for more than 5 years

    Pros

    401k Match and Investment Choices
    Gain a better understanding of the financial industry.
    Time off

    Cons

    Salary 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 ManagementAdvice

    Take 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.

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
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  5. 1 person found this helpful  

    Wonderful company for investors, terrible for employees

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

    I have been working at T. Rowe Price full-time for more than a year

    Pros

    Good benefits
    good pay
    flexible time off

    Cons

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

    Advice to ManagementAdvice

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

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  6. 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 for 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
  7. 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 for 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
  8. 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 for 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
  9. 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 for 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
  10. 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 for 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
  11. 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 for more than a 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

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