Vanguard - Not the best company | Glassdoor
There are newer employer reviews for Vanguard
There are newer employer reviews for Vanguard

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Helpful (10)

"Not the best company"

Star Star Star Star Star
  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Current Employee - Line Manager in Scottsdale, AZ
Current Employee - Line Manager in Scottsdale, AZ
Doesn't Recommend
Neutral Outlook
Disapproves of CEO

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

Pros

Great benefits
Great perks
A lot of resources

Cons

Low Pay
Health insurance has been downgraded

Advice to Management

Listen to employees

Other Employee Reviews for Vanguard

  1. Helpful (12)

    "Vanguard’s core investing business is top notch; otherwise, it is a highly fragmented organization."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Malvern, PA
    Former Employee - Anonymous Employee in Malvern, PA
    Recommends
    Neutral Outlook
    Approves of CEO

    I worked at Vanguard full-time

    Pros

    A stable, respected, conservative company that offers job security, excellent 401k match, very good retirement plan, good benefits (medical, education, vacation, etc.), and employee services (gym, on-site dining, minor medical on-site, etc.). A corporate culture of mentoring, volunteerism, charity, and responsibility. A good work/life balance, flexible time, available telecommuting, reasonable compensation, and advancement opportunities, while available, are highly dependent on the department and/or manager. My time at Vanguard spanned all three of the CEOs. The company has changed (and continues to change) from an idealistic, iconoclastic company to a much more mainstream, growth-oriented American corporation. You will succeed and be very happy at Vanguard if: You buy into the culture, you’re politically adept (and politically correct), you get satisfaction from tooting your own horn, and you believe that process trumps product.

    Cons

    It never felt like Vanguard was a single company. Cross-departmental / cross-divisional projects often felt adversarial. Lots of little fiefdoms protecting turf rather than collaborating for the good of the company as a whole. Very bureaucratic. Management’s general avoidance about taking ownership and actually addressing the issues. Best to push things onto subordinates (the lower the better) without clear expectations or the appropriate resources and maintain plausible deniability. Little evidence of a cohesive (company-wide), long-term strategy or vision. A strong focus on fixing the small immediate problem in a way that frequently resulted in more work / re-work later as well as squandered resources. The recent changes to compensation and profit-sharing reward job performance over tenure. While necessary, these changes have had a negative impact on morale. There are a fair number of employees that are netting less annually than they did 5 or 6 years ago. All incentives to stay with the company for any length of time have been removed. Performance standards and expectations can vary substantially from one manager to another, even within the same department. Some of the methods used by Vanguard to maintain the “never had layoffs” stability are: 1) Creating attrition by using a series of poorly-defined, impracticable negative ratings on annual reviews that will negate any possibility of a bonus, merit increase or finding another job within the company. 2) Changing the description and/or expectations for an employee’s current job or rank resulting in those same poorly-defined, impracticable negative ratings. 3) Forcing employees to re-apply for their own jobs and then rejecting them. Vanguard touts its diversity and employee feedback efforts. My experience was that diversity meant “don’t offend anyone” rather than recognizing and accepting differences. Year after year employee feedback was solicited, responses were provided, teams were created, projects were launched, and, after a few months, everything faded away with no substantive changes.

    Advice to Management

    Don’t change doing what Vanguard does best: Investment Management. Find a way for management and all the employees, in all the divisions, to understand and believe that they are working for one company with common goals. Make the decision to be either the conservative “low cost provider” or the innovative technology and segment leader (and invest in whatever you choose). Reallocate the resources spent on image to things that enable the employees to do the best job possible.


  2. Helpful (2)

    "Highly Ethical Financial Services Company but......"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Client Relations Associate in Malvern, PA
    Former Employee - Client Relations Associate in Malvern, PA
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    Highly ethical corporation which is a refreshing rarity in today's financial industry.
    Comparatively speaking, most of their fund returns lag in bull markets, but the trade off is that
    your capital is well protected during bear markets.

    Cons

    Business practices, in terms of service provided to the client, tends to lean towards elitism.
    Employee reviews were critiqued more on a personal level as opposed to a professional level.

    Advice to Management

    Every client is entitled to quality client service.
    Vanguard is a corporation not a college campus. Employees should be evaluated on contributions, not popularity.

There are newer employer reviews for Vanguard
There are newer employer reviews for Vanguard

See Most Recent

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