Vanguard

www.vanguard.com
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  1. 4 people found this helpful  

    Not For Everyone

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Processing Associate in Malvern, PA
    Former Employee - Processing Associate in Malvern, PA

    I worked at Vanguard full-time (more than 3 years)

    Pros

    This is honestly tough.

    -I met some great supervisors and managers who truly looked out for their subordinates' best interests, even if it was relaying the honest truth that Vanguard isn't a suitable company for everyone.
    -Partnership day.
    -Ability to peruse available jobs and apply from within the company through their internal bulletin.
    -Almost a month of PTO after "buying" an additional 5 days - in your first year!
    -Once you get past the entry-level jobs a crew member will most often have more independence and more intellectually stimulating job responsibilities.

    Cons

    I'll start by saying that this job wasn't for me.

    After 2 and half years in a technical role where we were pretty much tied to our desks, it was difficult to stay "engaged". These things may describe a typical office atmosphere, and maybe I am too sensitive regarding office politics, but nonetheless this should prove useful to prospects...

    -The job's pay grade was similar to entry level phones, but involved demanding and higher complexity work.
    -3 months of training in a job that should require a minimum of 6 months with on the job training and labs.
    -You will spend literal years learning the processes only to find that this knowledge is almost exclusively useful in this job and this job only.
    -Being off of main campus - unhealthy people, no respect for the dress code, entitled and generally spiteful colleagues who have no interest in working in a team atmosphere.
    -Rising sophistication of technology lead to more specialized and technical work, without a raise in pay.
    -Despite constant patches and updates, internal systems and technology were well behind the technical prowess of rival firms resulting in daily crashes, sometimes effecting the entire department (which would lead to lunch cuts and mandatory OT).
    -Vanguard will not "lay off" employees in times of hardship, but they will manipulate any situation in order to justify a termination. This happened to many.
    -Many of my close friends were high performers, who in their first year were given strong reviews, raises, and a pay grade bump. In the second year, after 3 department head rotations and multiple manager transitions and replacements, these high performers were met with increased criticism, sandbagging, and general mind games which lead to decreased motivation, higher stress, and decreased productivity, while leaving them basically helpless to build upon themselves professionally.
    -Multiple restrictions to employee schedules over time (from 6 available shifts to a dismal 2). Better hire that babysitter you can't afford.
    -Forced OT (I heard about this after I left) for remaining staff due to attrition and numerous terminations.
    -Constant pressure from management to do more work than you can actually do.
    -Despite some truly amazing supervisors and managers, there are always the people who can ruin your experience with a company. Not much accountability for supervisors. Walk in at 9:30, leave by 11:30 to shop at KOP, return at 2, absent from desk until 4, never returning an email. I honestly have never seen people get paid so much to do so little.

    This is basically scratching the surface. I have read the rules and this is not a rant. This is intended to warn those who seek entry level employment within Vanguard's processing departments. If you truly love the markets and financial services in general, you will most likely be able to look past most of these issues and find something that truly drives you beyond this role. If you are a creative person, if you like to have an impact on the company you work for and expect your opinion to be valued, this is NOT the place for you. If you respect your own humanity and believe that people should be treated as people and not as a unit or a number, this is NOT the job for you. This is a big company who is pretty well known for being old fashioned and "at-cost" (cheap). Compensation is low, Partnership is nothing like it used to be, and office politics will drown you. Do yourself a favor and consider other options before accepting $34,000 a year in hourly salary in the suburbs of Philadelphia. Good luck with that right out of college with student loan debt.

    Advice to ManagementAdvice

    Watch more TED Talks on the mismatch between science and business in regards to incentives. Create a more accepting and less prejudice office culture. Be better to your employees, they are starting to desert you.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  2. 1 person found this helpful  

    I'm constantly learning and growing.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Crew Member in Philadelphia, PA
    Current Employee - Crew Member in Philadelphia, PA

    I have been working at Vanguard full-time (more than 10 years)

    Pros

    Excellent retirement plan and benefits, life resources, and an ethical company in which to invest.

    Cons

    The commute, the culture is not conducive for creativity, who you report to can make or break you.

    Advice to ManagementAdvice

    Opportunities for growth are increasingly limited within some areas, and not every one is treated equally.

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

    Great place to invest, not great to work

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

    I have been working at Vanguard full-time (more than 3 years)

    Pros

    Highly unlikely to ever get fired unless you are just beyond bad at your job. Great investment methodology and does do the right things for the clients. There are a few great leaders. Benefits & PTO are great.

    Cons

    Salary. x1000. Vanguard pays 20-50% less for the same roles than other companies. They seemingly do this to keep costs down, but fail to realize that this causes them to consisently lose high performers and it creates no incentive for good performance. That has its own cost. As does never firing bad performers. Being personal friends with senior leaders, having good credentials (though not the job performance) and being fake/cutthroat will get you far here if you want to be a "leader".

    Advice to ManagementAdvice

    Pay better. Trim layers of management to fund it.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
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  5.  

    It pays....

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Contractor - Financial Processing Associate in Wayne, PA
    Current Contractor - Financial Processing Associate in Wayne, PA

    I have been working at Vanguard as a contractor (less than a year)

    Pros

    I am a contractor with Randstad, so I don't reap the benefits of a full-time Vanguard employee. My pros would be working around young people, friendly office environment, some what of a "work-life-balance", and a decent first job out of college to build upon my skills

    Cons

    The job itself is mind numbing. I feel like a hamster spinning on a wheel, doing the same thing all day everyday. I also work extremely long hours, but get 3 days off a week. The amount of time I'm physically in the office (11 hours) makes it feel like I have no time off, and working every other Saturday is kind of a drag. They also micro manage a bit here, but that's to be expected for a bunch of low paid entry level workers. By micro manage-- they listen to every conversation amongst coworkers intently, and will hold it against you. They also keep track of how often you go to the bathroom and how much/how fast you get done work everyday. It feels like a factory line.

    Advice to ManagementAdvice

    Interactions with management is generally pleasant, but a lot of those in management positions are under 30 and don't know what they're doing/use intimidation to scare you into getting work done.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  6.  

    Good company

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

    I have been working at Vanguard

    Pros

    Great corporate organization, with a variety of career options.

    Cons

    Too much focus on process, rather than innovation and effectiveness. Not a bad thing, however, but limits growth to those who are best at managing process.

    Recommends
    Positive Outlook
    Approves of CEO
  7.  

    Good place to start

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - High Net Worth Client Relationship Administrator in Charlotte, NC
    Current Employee - High Net Worth Client Relationship Administrator in Charlotte, NC

    I have been working at Vanguard full-time (more than 5 years)

    Pros

    People willing to help, paid training

    Cons

    lack of opportunities and promotion not based on performance

    Advice to ManagementAdvice

    promote people to leadership who are able to do the job themselves

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  8.  

    Good to start

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Vanguard

    Pros

    Learning opportunities, training, learn the ropes

    Cons

    very regimented, very little flexibility

    Advice to ManagementAdvice

    company culture

  9.  

    Great place for entry level

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Investment Professional in Charlotte, NC
    Current Employee - Investment Professional in Charlotte, NC

    I have been working at Vanguard full-time (more than a year)

    Pros

    Great work life balance, great benefits

    Cons

    Monotonous, call center environment can get boring

    Advice to ManagementAdvice

    Higher pay

    Recommends
    Positive Outlook
  10.  

    Former Employer

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Client Service Representative in Charlotte, NC
    Current Employee - Client Service Representative in Charlotte, NC

    I have been working at Vanguard full-time (less than a year)

    Pros

    Great training for license and resources for self development.

    Cons

    constant phone calls, and micromanagement to the minute. Very undervalued

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
  11.  

    Not so good anymore

    • Senior Management
    • Culture & Values
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Vanguard

    Pros

    Good place for entry level.

    Cons

    Not good for long term anymore.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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