The Vanguard Group Reviews

Former Employee – worked at The Vanguard Group full-time for more than 10 years

Pros – Company is built upon a platform of core ethics, and are committed to those values. Great people in the company. The drive for quality is impressive

Cons – Work life balance is only a concern at upper management levels, at middle manager levels, they throw it out the window
Low cost provider means they regularly retract and downgrade benefits. In the 15 years I was there, they got worse EVERY SINGLE YEAR.
Vanguard actively tries to get rid of senior level non principal employees to reduce costs. As such, knowledge erosion is a horrible problem there. Many systems are barely supported thanks to reduction of staff and senior level knowledge/skill holders. Pay is below average in the industry, and they actively work to reduce it even more

Advice to Senior Management – There needs to be solid leadership. 95% of projects there feel completely out of control, and without clear guidance and direction.

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

Current Employee – been working at The Vanguard Group full-time for more than 10 years

Pros – The people you work with are great, some managers are amazing.

Cons – Upper management rotations are a mystery to me, they come from an area completely different and often have no idea what they are doing. It's said to be for the benefit of the company but when you move somebody as they are getting the hang of the job or don't put somebody that's more deserving because of politics, it disrupts the company as a whole.

There are no 'promotions' unless a spot opens up. This means that someone needs to get fired, retire or move out of the group for you to advance. Lateral moves within the same pay grade into a completely unrelated field is often required to be in a group where someone is about to retire so that you can have a chance at taking their spot and that obviously requires you to be competent in the new position which requires more years. This company at times feels like a complete dead end with no advancement opportunities. After 20+ years at this company I've seen enough people get screwed over and so many good people leave that it makes me sick. New people are great but not at the cost of all of the experience.

It blows my mind that this company would rather have an experienced person move and become a completely inexperienced worker to have a chance at a promotion. The groups lose valuable experience and causes extreme discontent and instability within the company.

Advice to Senior Management – Rethink your management policies. The instability you see in all the groups is not because of the workers.

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

Current Employee – been working at The Vanguard Group full-time for more than 3 years

Pros – Great resume builder. The name goes a LONG way in the industry. The concept of stewardship is not lost to Vanguard. Pay is alright IF YOU WORK. If you are not getting a professional designation (CIMA, CFA, CFP, CPA) or a grad degree (MBA, MS Finance, PhD Econ, or DBA), don't complain about not being paid enough. You will see there is a minimum threshold to weed out the "complainers" internally it's in the E-F range. I work with some of the smartest minds in the industry.

Cons – Management in PA has more resources to develop crew (can develop them to advanced investment groups on-site). AZ and NC develop structural attrition due to lack of Investment Management jobs. Phone-group management gives pushback when someone attempts to get a CFA (as they have nowhere to promote you to). After passing level 2 or 3, these reps or traders are hired away at a hefty premium. There is an Acceleration to Finance Professional program in PA, and a Vanguard Accelerated Development Program for Investment Management. No such program exists in Arizona or North Carolina. I know of 4 people in phone groups who left Vanguard after passing Level 3 of the CFA because they could not get the 48 month work experience in their phone roles. There was no push to place them, and not positions to fill.

Advice to Senior Management – Bring IM jobs to the other 2 sites. Plenty of competent and exceptional people. It's the 21st century. Not like oversight is difficult with immediate access to videoconferencing, movi cameras, chat, and Lotus Notes. Also, just because someone comes in at a Level A,B, or C. Does not remove them from eligibility to jump to an F. Don't just fill spots. Identify skills! A representative in Arizona has 25+ years of experience in the industry, was Executive Director of mutual funds sales at a competitor firm, holds an MBA from a top 15 school, is a CPA, CFP, and Enrolled Agent. And he's a C level at Vanguard who was told by his manager that posting for a Financial advisor posting was premature because "people don't skip." Ouch.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

Former Employee – worked at The Vanguard Group full-time for more than 7 years

Pros – Excellent compensation, professional, supportive work environment, an industry leader, unique ownership structure

Cons – Limited opportunities for professional development, unclear career paths

Advice to Senior Management – Maintain leadership in the financial industry, grow your loyal crew members better

Yes, I would recommend this company to a friend

Former Employee – worked at The Vanguard Group full-time for more than a year

Pros – This was the best company I ever worked for! Management always complimented you on your work and made you feel appreciated in such a large company.

Cons – Security and large campus in the middle of nowhere

Advice to Senior Management – Keep up the good work! You guys are awesome!

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

Former Employee – worked at The Vanguard Group full-time for more than a year

Pros – Great work-life balance. Great 401(k) and health benefits. Company is very organized and well positioned in the market. Most managers care about their workers a great deal

Cons – Limited upward mobility is difficult for younger workers. At-cost mindset is great for clients but hard for employees that are motivated by financial reward. Never fires anyone, even under-performers who hold the team back.

Advice to Senior Management – Find out how to drive greater job satisfaction , innovation, and growth in your employees careers. And get some better coffee!

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

Current Employee – been working at The Vanguard Group full-time for more than 10 years

Pros – Vanguard is great for someone coming right out of college. Decent benefits and fair pay. They are highly regarded in the financial industry. The company stands by it's investors and always tries to keep costs at a minimum for the client. There is a bonus program called Partnership where if the company does well, you get a bonus. You start out with 2 weeks vacation but you can buy a week to get 3.

Cons – With 3 Trillion under management they need to pay their employees more. Total benefits is always nice, but you have to make ends meet and the paycheck could use an overall boost for most people there. You'd have to be a Manager with a few years under your belt to break the $100K mark, if even that.

Advice to Senior Management – Management is pretty good actually. They are approachable and ready to listen and help if need be. Of course it always depends on your immediate supervisor to whether you'll be happy or not. Some are militant and others allow you to be an adult and work as an adult and don't monitor you too closely. I've had both great (current) and terrible over the time I've been there.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

Current Employee – been working at The Vanguard Group full-time

Pros – Vanguard is a really good company to work for provided you know what you are getting yourself into. If you have a family and want a place that will challenge you but not break you, work between 40-50 hours, Vanguard is the perfect place. Their health care is amazing and they really do care for you as an employee with a family.

Cons – Climbing up after the initial first couple promotions is nearly impossible. Its understandable that with any company that is true but the feeling is that with Vanguard it is more prevalent. So many promotions are political moves vs. deserved moves. Additionally, compensation is a bit below market value but honestly being a family man, its well worth it since you get extra vacation to spend time with your family.

Advice to Senior Management – Make more deserved promotions vs. political ones. Other than that keep up the good work!

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

Current Employee – been working at The Vanguard Group full-time for more than 7 years

Pros – Strong business model, job security, good benefits, nice people, doing the right thing for clients.

Cons – Company continues to cut investor costs at the expense of employees. Poor technology platform. Company promotes individuals who often lack technical experience. The brown nosing makes me puke!

Advice to Senior Management – Share the wealth. Did Bill McNabb take a pay cut when he was promoted? Instead of cutting expenses give the employees a raise.

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

Current Employee – been working at The Vanguard Group full-time for more than 7 years

Pros – Nice people, culture and campus

Cons – Management pushes the low cost approach which has transitioned to low service to the client. Has recently tried to maximize every cent for the better of the "owner" expense ratio however, to the defeat of lower client services, lower compensation, and lower morale.

Advice to Senior Management – Crewmembers cringe when they hear that Vanguard has lowered the expense ratio... again!!! Lower pay, bonuses and benefits.

No, I would not recommend this company to a friend