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Beautiful Santa Monica, CA. A great location, which is one of the best areas of the country.
Imagine a great working environment where you have the opportunity to learn, get paid and promoted fairly, and feel like you're part of a winning team, while you grow with the company and prosper as the company gains market share. Wilshire Associates is the EXACT OPPOSITE of this. It was absolutely incredible to see this collection of beaten down, unchallenged, unequipped, and unmotivated people in a setting so beautiful. Somehow, Wilshire has managed to cultivate an entire company of individuals which service the financial services industry who are unbelievably oblivious to the exact industry they are supposed to serve. Analytics CEO refuses to talk to clients and has had 1 job his/her entire life. Client service even refuses to talk to clients! Today's economy is dynamic and challenging, but do not be that person who joins Wilshire and stays for 10, 20, 30 years (the company will not be around that long, so that's not possible). It will be your career deathbed, and you will begin talking like the CEO when Wilshire really screws up and says "well, they should be paying us more anyway". This company embodies everything that is wrong with American corporate culture, and they are suffering, thankfully. Give me some market data feeds and 10 competent programmers from any top financial engineering school and I could single handedly put this company to bed in a year - forever. Oh, and the perks - there is no 401K match, no pension, and expect to pay $1,000 per month per health insurance and pay hundreds of dollars a month for parking. Dennis Tito has been trying to sell the analytics unit for ages, since FinTech has been pretty hot, but there have been no buyers since even the most capable PE firms couldn't find ANY FAT TO TRIM since the company is so ill equipped - both on the personnel and technology side (it is not uncommon for Wilshire's services to be literally down for 3-4 business days). How about that for disaster recovery? One might ask - what about the goodwill associated with the company name? It's probably negative on the balance sheet at this point because: 1) clients are extremely upset and leaving in droves, and the company has literally collapsed in recent years, and 2) nobody in their right mind benchmarks against the Wilshire 5000 index and nobody even cares about this "market sentiment indicator". Given the state of despair the company is in, I'd be highly suspect of the accuracy of this "index" information anyway. So next time you read on LinkedIn that the "Wilshire 500 has dropped/gained $50 billion", realize that this means absolutely nothing to you and your investment process. Also, this is the first and last workplace I will engage in where adult mid-executives swear and threaten each other in a conference room. *Take note, college grads...
Advice to Management
There are 3 camps: 1) OLD CAMP - You've been there for 30+ years and somehow share profits, even though this is your first and only job. You have no idea what the outside world is like and I'd do the same as you - collect your unjustified paycheck and chill until you get canned or your health fails. 2) NEW CAMP - You're a late career executive and you've been tasked with cleaning up / optimizing operations. My advice to you is to ride out these last few years that analytics survives. Please realize, however, that with your experience you could be mentoring and coaching young leaders as opposed to the very dark duties you have today. I'm confused as to why you are here. 3) NOT POLITICALLY SAAVY or EVIL - You can make $250-$300k with your PhD elsewhere and there is no reason whatsoever for you to stay. In fact, you're likely the only one left with a PhD, anyhow. Go work for RAND or Capital Group. Be happy.