Vanguard

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Vanguard Reviews in Phoenix, AZ

Updated Jul 15, 2014
All Employees Current Employees Only

3.1 128 reviews

72% Approve of the CEO

Vanguard Chairman and CEO William McNabb

William McNabb

(94 ratings)

59% of employees recommend this company to a friend

Review Highlights

Pros
  • They also strive to give you a work/life balance and are very liberal(in 101 reviews)

  • There are great benefits and opportunities to build your toolbox in your chosen career path(in 58 reviews)


Cons
  • site locations offer very little job growth opportunities outside of basic call center positions(in 43 reviews)

  • Good work/life balance for some people, but not if your on the phones(in 13 reviews)

128 Employee Reviews Back to all reviews
Relevance Date Rating
in
    • Approves of CEO

    2 people found this helpful  

    OK

    Manager (Current Employee) Phoenix, AZ

    ProsPeople are great and good culture

    ConsSalary are low and do not match market rate

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

    • Culture & Values
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    • Senior Management
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    • Disapproves of CEO

    20 people found this helpful  

    About what you would expect from the low cost provider

    Financial Advisory Services (Former Employee) Scottsdale, AZ

    ProsThis company started out as a relatively pleasant call center environment. When I was hired, I was new to the area and simply looking for work. The first few years were as enjoyable as anyone would expect from a call center. The benefits offered were above average at first, and the company provided me with great educational opportunities. I picked up both my MBA and CFP designation while working for the company.

    ConsOver the years, I've read many of the comments here on Glassdoor that referred to Vanguard. As you may notice, the complaints are often well written, lengthy affairs. The positive ones trend towards short and simple. My fellow co-workers would laugh at the ones obviously written by the HR and recruitment staff, but the honest one were the most disturbing about the company. You see, Vanguard is the low cost provider, and this attracts the sort that cannot find more lucrative pay.

    I realized early on that Vanguard pay was not on par with its competitors. I thought loyalty to the company would eventually pay off, though it never did over the eight years I worked there. The main issue is that the low pay had created a race toward the bottom mentality. Anyone with any aptitude, skill, or promise was blacklisted. Since the ignorant and uneducated had entrenched themselves into positions of power, they fiercely fought against those who would rise to the top elsewhere.

    The low pay led to low morale, and this company is the epitome of a job, not a career. Most people were simply cogs in the machine, though nepotism could get you far. For several year, I worked under the dimmest witted of managers I have ever experienced in a professional position. The manager was put in the role by a spouse who had a fairly high position in the company. While this can be common, having a manager remain in a position of power when 30,000 trade corrections valued at over $141 million seems a bit much.

    Most financial companies tend to frown on this sort of irresponsibility, but not Vanguard. Indeed, I had a coworker under the same manager simply walk away from work for over nine months before the above mentioned manager took action. Of course, he made sure to play the game rather than do the work… but this is how you succeed in a company like this. In the end, I grew tired of doing all the work with nothing to show from it. Vanguard was a dead end job filled with dead end people.

    Advice to Senior ManagementI often tell my clients about my experience with Vanguard. As a financial advisor, I cannot recommend this company for investments. Vanguard is the Wal-Mart of the industry. My biggest concern, beyond the incompetence of the staff, has to do with the future of the company. Years ago, the workers really cared about their company. This ended around a decade ago. When the economy tanked, two kinds of people remained… those that had to, and those that were stuck.

    My advice to management is this… the economy is recovering and you’re about to sow the seeds of your mismanagement. I’m hoping that you’ll realize that putting a bunch of 25 year old cheerleaders in charge of multimillion departments isn’t a sustainable plan in the long term.

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

    • Culture & Values
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    • No Opinion of CEO

    15 people found this helpful  

    My last day at Vanguard was the best day of my life

    Flagship Representative (Former Employee) Scottsdale, AZ

    ProsIt is a almost impossible to get fired. If you can reserve a table for happy hour at Four Peaks the sky is the limit for your career. Clean bathrooms. Tuition assistance to help you land a job somewhere else.

    ConsYou can't afford the seasonal ales at Four Peaks. Anyone who is interested in a real finance job gets their licensing, a little experience, and leaves. Very high turnover. Pay is laughable. IT IS A CALL CENTER which is fine but the company sells the jobs as a financial services position which you will be able to have a book of business and help people - this is not true. Everyone is miserable. I would sit in the parking lot in my car for ten minutes and cry everyday before going in. The level of incompetence of people working there (especially management) is disturbing.

    Advice to Senior ManagementLet a company that actually pays for talent and is taking your market share (they have a lot of commercials with green arrows) buy you out.

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

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    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
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    • Approves of CEO

    3 people found this helpful  

    People Are DYING To Work Here

    Brokerage Associate (Current Employee) Scottsdale, AZ

    ProsAmple parking especially early and late. You can even sleep undisturbed for up to 12 hours and sleep like a dead man if you are planning on "checking out" the next morning.

    Life insurance benefits.

    Expense ratios continue to fall for clients.

    ConsMonotonous nature of the job and lack of opportunity can lead to disillusionment soon after the recruiting process.

    Lack of opportunity for anyone over 30 (no matter how experienced) can sometimes lead to resentment of unqualified CYA middle managers.

    Advice to Senior ManagementNothing you haven't heard thousands of times from crew past and present.

    At the end of the day, management is directly responsible for the efficacy of their crew.

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

    • Culture & Values
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    • Approves of CEO

    2 people found this helpful  

    Cubicle city

    Client Relationship Specialist (Current Employee) Scottsdale, AZ

    ProsGreat benefits, laid back atmosphere

    ConsHard to move up unless you have a good team leader / manager

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

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    • Senior Management
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    • Approves of CEO

     

    The internship was a professional development and enhanced my skills in a very broad tone.

    CRS (Current Employee) Scottsdale, AZ

    ProsThe people. They're nice, but not fake nice. They genuinely like working there and it rubs off.

    ConsHourly caps for wages is 37.5.

    Advice to Senior ManagementManagement really is doing great.

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

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    • Disapproves of CEO

     

    A good resume builder

    CRA (Current Employee) Scottsdale, AZ

    ProsIn the entry level positions there is a decent work life balance. If you work in a profit center and you hit your numbers you have a lot of freedom to do your job as you see fit. They are well known in the industry and their mutual fund focus makes them efficient in what they do.

    ConsIf you move to an exempt position you may actually work more hours for less money than you earned in a non-exempt role when you received overtime. The retail side of the business makes money and the institutional side tends to lose money, so if given a choice you may want to stick with the retail side of the company.

    Advice to Senior ManagementIt has already been said in prior postings, but management could do a better job of listening to employees. Changes are made in the name of employee feedback, but many wonder if they are opinion shopping for suggestions that only back what they plan to do anyway.

    Yes, I would recommend this company to a friend

    • Culture & Values
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    • Disapproves of CEO

    21 people found this helpful  

    Don't drink the kool aid!

    Problem Resolution Associate (Current Employee) Scottsdale, AZ

    ProsThe redeeming qualities of Vanguard continue to disappear. The only thing I cling to these days is that I can get 5 weeks off each year. It is nice not to have to sell or compromise integrity just to make money for the company, but I'm pretty well spent.

    ConsVanguard is not the lead ship, but a siren leading your personal ship to the rocks. I implore you not to let this happen to you. They have all kinds of postings for Problem Resolution Associates because we desperately need more, but I beg of you DO NOT DO IT. The entire department (all of Operations, really) is so poorly managed that employees are on the verge of mutiny. Resolution Services in particular is quite hostile. Our management in PA has been made WELL aware of how much distrust, disengagement, and outright resentment there is amongst our department. Upper management has made it clear they do not care, openly laughing and joking about our departments low approval and engagement scores to our faces.

    As an associate who has been with the company for a number of years now, I recently came to learn that I make a full $6,000 less than brand new hires to Vanguard. This is unique to Resolution Services, as other departments have been given raises for the same licensing that we are now required to get, but our department has decided not to provide us those same raises. They have told us for over a year now that they would reevaluate the pay scale, but I think I am more likely to see a dinosaur than a re-scaling of pay.To their credit, our direct supervisors are miserable too. They seem to understand how much we hate our jobs, but their bosses are so inept and self-important that no change can ever be made.

    This department is the Hotel California. Don't pull over.

    Advice to Senior ManagementUnderstand that we are actually people. We have terrible service levels due to factors beyond the control of the department. Having one 30 minute lunch a week did nothing to help our service levels, but reinstating two is not going to have and effect either. All that does is make us more disgruntled. Also, try talking to us sometime. We're smarter than you think. You can't hide the fact that other people are getting paid more than we are for WAY less work. We work in the most connected department possible, you can't hide info from us. We will continue to go to HR, post negative reviews and actively dissuade other crew from working in our department, regardless of how much we need them. At some point, you are not going to be able to keep this up, I just hope I'm not here when the house of cards falls in on itself.

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

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    • Approves of CEO

     

    Good Job

    Financial Analyst (Current Employee) Scottsdale, AZ

    ProsYou get a great work-life balance and you get tons of paid time-off. They will pay up to 9K a year in tuition reembersument which is nice

    ConsIts on the phones you go. It really sucks to be on the phones all day every day, dealing with clients and junk.

    Advice to Senior ManagementKeep up the good work

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

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

    1 person found this helpful  

    Good place to start

    Client Relationship Associate (Current Employee) Scottsdale, AZ

    Prosvery nice people to work with, client driven

    Consthe company is very conservative, few opportunities in AZ unless you want to move to PA

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