AllianceBernstein Private Client Associate Reviews | Glassdoor

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AllianceBernstein Private Client Associate Reviews

Updated Apr 10, 2019

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Found 24 reviews

1.9
StarStarStarStarStar
Rating TrendsRating Trends
5%
Recommend to a Friend
30%
Approve of CEO
Seth Bernstein
2 Ratings
  1. "Associate"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Private Client Associate 
    Recommends

    I have been working at AllianceBernstein full-time for more than 5 years

    Pros

    great people and a lot of camaraderie

    Cons

    pay is not competitive and limited upward mobility

    Advice to Management

    add production bonuses back

    AllianceBernstein2016-09-08
  2. Helpful (1)

    "Terrible"

    StarStarStarStarStar
      Former Employee - Private Client Associate 

      I worked at AllianceBernstein full-time

      Pros

      Good education, sponsors your licenses

      Cons

      No work life balance, toxic people, politics, can't move up without a network.

      AllianceBernstein2019-04-11
    • Helpful (9)

      "Underpaid, under appreciated and over worked. You will only succeed if you play office politics"

      StarStarStarStarStar
      • Work/Life Balance
      • Culture & Values
      • Career Opportunities
      • Compensation and Benefits
      • Senior Management
      Former Employee - Private Client Associate in New York, NY
      Doesn't Recommend
      Negative Outlook
      No opinion of CEO

      I worked at AllianceBernstein full-time for more than a year

      Pros

      Training. If you’re right out of college and don’t know anything about the industry, Bernstein is a good place to get a “prestigious” firm name on your resume and to get licensed.

      Cons

      Underpaid, compensation is about 20k below street value, overworked, turnover. The turnover is so high due to being mistreated and underpaid. No one wants to work over 80 hour weeks and receive only 60-70k a year in NYC. Other firms for the same exact role offer a 80-100k salary plus a minimum bonus of 25%-1x salary. Why would anyone want to work at Bernstein? Management creates hostile work environments. If they don’t...

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      Advice to Management

      Compensate your workers, stop taking the bonuses just for yourselves. Appreciate your employees by compensating them and actually giving feedback and developing them. Versus giving negative feedback and literally driving employees out. Stop creating favorites and only allowing certain employees to be recognized as others are working just as hard.

      AllianceBernstein2018-08-10
    • "Private client associate"

      StarStarStarStarStar
      • Work/Life Balance
      • Culture & Values
      • Career Opportunities
      • Compensation and Benefits
      • Senior Management
      Current Employee - Private Client Associate in Minneapolis, MN
      Doesn't Recommend
      Neutral Outlook
      Disapproves of CEO

      I have been working at AllianceBernstein full-time for more than a year

      Pros

      Training opportunities and great co-workers. There are multiple career paths you could reach for. Unfortunately, some may require relocation. There is a robust training program for entry level employees.

      Cons

      Level of complexity and hours per week do not line up with level of pay. Management doesn’t always step in to support lower level employees, but rather, blame falls on the shoulders of the low person on the totem pole. Office politics are key to success.

      Advice to Management

      Expectations of associates and pay level do not match expectations of the job. Should offer more, and raise experience requirements to meet level of job demands

      AllianceBernstein2018-03-25
    • Helpful (6)

      "Private Wealth Management has a sexism problem"

      StarStarStarStarStar
      • Work/Life Balance
      • Culture & Values
      • Career Opportunities
      • Compensation and Benefits
      • Senior Management
      Former Employee - Private Client Associate in New York, NY

      I worked at AllianceBernstein full-time for more than 3 years

      Pros

      Good company overall, decent benefits, good reputation, good experience straight out of college.

      Cons

      Your experience at AB greatly depends on what department you're in. I was in Private Wealth Management in New York City, and I can say with absolute certainty that the location and department has a sexism problem. Qualified, registered, passionate women are frequently held back and not promoted over their less experienced/less qualified male counterparts. I'm not sure if this sexism is rooted in an issue with the financial...

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      Advice to Management

      Please acknowledge the problem and create a system to rectify the issue. It's 2018, women should be allowed the same opportunities as men. Please also create easier internal/department mobility options, the company is losing top talent.

      AllianceBernstein2018-02-20
    • Helpful (3)

      "Associate"

      StarStarStarStarStar
      • Work/Life Balance
      • Culture & Values
      • Career Opportunities
      • Compensation and Benefits
      • Senior Management
      Former Employee - Private Client Associate 
      Doesn't Recommend
      Neutral Outlook
      Approves of CEO

      I worked at AllianceBernstein full-time for less than a year

      Pros

      Thorough, intensive training and development curriculum. Good company for someone getting started in the industry. Most advisors and associates are intelligent, kind, honest people that are enjoyable to work with. Culture varies by office.

      Cons

      Employee morale is extremely low. Every single Associate/Senior Associate in my office is looking for outside opportunities. Senior leadership knows high turnover is a problem, but a fix doesn't seem to be coming anytime soon. Don't expect to get time off at the holidays. Plan on taking personal days for doctor appointments as you are not allowed to leave during the day, aside from a few minutes at lunch. End of the road...

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      Advice to Management

      Give associates more flexibility/work-life balance. Treat your employees like adults, and humans for that matter.

      AllianceBernstein2017-11-13
    • Helpful (3)

      "Associate"

      StarStarStarStarStar
      • Work/Life Balance
      • Culture & Values
      • Career Opportunities
      • Compensation and Benefits
      • Senior Management
      Current Employee - Private Client Associate in New York, NY
      Doesn't Recommend
      Negative Outlook
      No opinion of CEO

      I have been working at AllianceBernstein full-time for more than a year

      Pros

      Excellent place to get a financial career off the ground. Decent training program. If you are on a good team with advisors that invest in you then you can get a lot of practical experience to use at the next firm you go to. This is a great opportunity to get a solid name on your resume and build credibility.

      Cons

      Very limited mobility. To get ahead you need to give up on work life balance. Comp is pretty low versus competition even though management will say it's on par. The associate role has a lot of pressure. There is a lot of stress and work volume and not enough support from tenured associates or management. The associate turn over rate is pretty high and that makes keeping a steady work flow pace pretty hard. New associates...

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      Advice to Management

      Increase comp to make the giving up of work life balance worth while. Make an effort to keep good associates. The high turnover kills productivity.

      AllianceBernstein2017-08-19
    • Helpful (11)

      "Private Client Associate"

      StarStarStarStarStar
      • Work/Life Balance
      • Culture & Values
      • Career Opportunities
      • Compensation and Benefits
      • Senior Management
      Former Employee - Private Client Associate in Denver, CO
      Doesn't Recommend
      Neutral Outlook
      No opinion of CEO

      I worked at AllianceBernstein full-time

      Pros

      Some of the other Associates I worked with were the best, but all left within a year because of management over-promises, being completely overworked without proper compensation, and no work/life balance.

      Cons

      Management will tell you that the Associate role is "what you make it," but please DO NOT be fooled. You will only be promoted if you fit the mold management has created. If you question anything, you will be ostracized. If you have any outside industry experience, do not work at Bernstein. As an Associate you will be tasked with mostly administrative duties (account opening, prefilling documents, and processing wire...

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      Advice to Management

      It would behoove the higher-ups to look at the abundance of turnover (9 support staff members in a calendar year) and evaluate why Associates continue to leave the Denver office. Clearly there is a bigger problem at play than the excuse that “former Associates just couldn’t get along with the Financial Advisors in the Denver office.” A great place to start would be the Senior Manager that was placed in the office earlier...

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      AllianceBernstein2016-12-12
    • Helpful (6)

      "Avoid Denver Office"

      StarStarStarStarStar
      • Work/Life Balance
      • Culture & Values
      • Career Opportunities
      • Compensation and Benefits
      • Senior Management
      Former Employee - Private Client Associate in Denver, CO
      Doesn't Recommend
      Neutral Outlook
      No opinion of CEO

      I worked at AllianceBernstein

      Pros

      If you have no industry experience, it is a great place to get some exposure. The training program is great for someone straight out of college (just be prepared to drink the koolaid).

      Cons

      Best place to start is to state the fact that there have been a total of 9 people who have quit over the past year alone. To put that into perspective this is in an office that has 7-8 total support staff. Do not let management trick you and say that the associate role is "what you make it". You are an admin who will spend your days doing things such as prefilling documents, opening accounts, scanning and inputting...

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      AllianceBernstein2016-12-10
    • Helpful (5)

      "Avoid the Chicago office"

      StarStarStarStarStar
      • Work/Life Balance
      • Culture & Values
      • Career Opportunities
      • Compensation and Benefits
      • Senior Management
      Former Employee - Private Client Associate in Chicago, IL
      Doesn't Recommend
      Negative Outlook
      No opinion of CEO

      I worked at AllianceBernstein full-time for more than a year

      Pros

      Nice co-workers. Occasional work happy hours. Good office location and view. Standard vacation time/sick policy. You get to interact with clients which is enjoyable.

      Cons

      The office is structured so that your fate is totally dependent on what advisors you end up with. Their job is to sell and then all the work that's created from that falls 100% on the associates. Some are grateful/understanding, others are a nightmare. Poor work/life balance. Micromanagement at all levels creates a stressful workplace. Little room for growth, the firm gives opportunities that always "add to" your...

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      Advice to Management

      The advisors have to understand that they are on a team. The associates don't work directly for them. Make people feel valued. No one has to work there, it's a choice.

      AllianceBernstein2016-12-01
    Found 24 reviews