FactSet Reviews | Glassdoor

FactSet Reviews

Updated April 27, 2017
929 reviews

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3.6
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Phil Snow
185 Ratings

929 Employee Reviews

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Pros
Cons
  • The career growth for some teams is not that great, sometimes a work-life balance might be tricky (in 25 reviews)

  • slow career growth we need to wait for our turn (in 22 reviews)

More Pros and Cons

  1. Helpful (1)

    "Very Political Environment"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Engineer in Norwalk, CT
    Former Employee - Engineer in Norwalk, CT
    Doesn't Recommend
    No opinion of CEO

    Pros

    If you are a college grad there are a lot of employees your own age and experience level. Folks there know how to have fun and it's a fun plac eto transition out of the college life

    Cons

    If you are a college grad there are a lot of managers your own age and experience level. Office politics are significant. While not stereotyping everyone, there is a definite sense that folks are there for their own good and team work is typically a barter of political capital rather than an immerse, fun experience

    Advice to Management

    Listen to all employees. Be involved with daily life, employees had little to no interaction with senior management, even at social gatherings when their "favorites" would just hover around them. This isn't grade school - getting a gold star from teacher isn't going to help us beat Bloomberg and others.


  2. Helpful (5)

    "No Career Path; Many Managers are simply "Sales People"."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Product Specialist in New York, NY
    Current Employee - Product Specialist in New York, NY
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Free soda (though the selection has slimmed down) and $8 a day at the deli (though the food gets old after a while).

    However the free lunch basically means instead of a lunch break you sell yourself for $8. Assuming you make 50k+, $8 a day for 4 days isn't worth it.

    Cons

    The real life at FactSet: Once hired out of college you are a "consultant". However for the first 6 months-a year you are on a help desk taking phone calls (till they decide to move this function to India). The next year you are actually a consultant. However you then have a choice.

    If you don't get poached by a client you career path could be "specialist". You then get a small bump in pay, still do help desk/consulting work for a particular product but then have the additional goal of doing sales. They will also stick you with existing accounts. If you are new you are likely to get some account that are about to have canceled. These numbers will count against you raise/bonus time your first year. You will then be told, oh well, we had that too, just sell more to prevent it. However you will need to depend on the sales generalist to sell. If you have a complex product you are then basically doing the sales job as well. Make a sale and the generalist will take credit. Don't make it, and it was your fault.

    Your other career path is "Account Executive". Here you are a Jr Sales person working on existing companies rather than new business for a Sales Generalist. Again you will be given accounts in bad shape. Eventually you move to Sales Generalist where you just become another sales person till you have a bad year or two and then slowly pushed out.

    The people who get treated decent are the Engineers and Development. The only issue in these roles is that your promotion is a little extra money and a nicer title. Real promotions take a long time and before you realize it you will be middle-aged and replacable by a 20-something year old. After-all for the first few years, you could be more senior, but you will have the same title as them.

    The people telling you need to stay 5 years or so to get promoted want you to work cheaply and not move up for the next 5 years. At FactSet the rule is you can apply for a promotion after a year. However each time my particular manager would tell me how my position wasn't short-term and needed to be a long term 5-7 year position. They would tell me how they can't evaluate a potential promotion schedule until I'm in the position for 2 year. After 2 years of course, the promotion is in title, not really anything else.

    The 3 weeks vacation is decent, but you end up working lots of additional hours. You really should get comp time for those hours.

    There are other companies out there that treat their employees better.

    Advice to Management

    Many product groups have managers which is unfortunately made up of sales people with little experience with the product. They get put there because they sold general FactSet. This is the wrong structure.

    Our competitors have experienced people in the management of the group. How can a manager who knows little about the product supervise a specialist who knows more than him/her? Worst they managers drive the enhancement/development agenda without knowing what's going on for the first year or two. Hire outside-experienced people to be manager of groups OR promote experienced specialists, not just the top-performing sales person of the year. Selling and Managing have little in common.


  3. Helpful (2)

    "Too many people disappearing these days...Replaced by recent college grads with little experience...."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Product Specialist in New York, NY
    Current Employee - Product Specialist in New York, NY
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Good people and fee soda (non-caffeine)

    Cons

    2 years ago FactSet was a great place to work. The problem with a young workforce is they never saw a recession. Now everyone is scared for their jobs and their is backstabbing left and right.

    With the Economy going bad, costs are being cut. People are disappearing left and right, but slowly, maybe one person a week. The problem seems to be some of these people were hard working, but made too much. A decent company gives people a severance package layoff. But by avoiding a " layoff" and doing something gradual, these people are not being given anything.

    Benefits are also being cut. I noticed managers of 10 yrs having their blackberry being taken away. The blackberry increases productivity. Home internet (since many people work from home after leaving) is also no longer reimbursed. Cutting costs is a good thing, but not when you are cutting productivity with it.

    Consulting and sales are being hit hard. Engineering and development are being spared.

    Another problem is the FactSet way is to promote internally (which is good in moderation). The problem is this does not hold for all positions which require education and skills. I have noticed people one year out of college being promoted to very analytical positions to replace people who made too much. In the past, a client used to ask the consultants/specialist (who were experienced) questions. Now it seems the consultants/specialist are so new they are the ones asking the questions. What's scary is after a few years these people will probably be replaced themselves.

    As the previous poster said, there's little of a career path. You may get a higher title and a little bit more money, but that's it. You are told to put in your time and be patient. But that's just to keep you there. When you are in your 30s and 40s and unemployed you better have done something during your time at FactSet (CFA, MBA?). Otherwise you will be wondering why you didn't take the job at Ernst & Young or Goldman Sachs like your friend out of college.

    Advice to Management

    Realize you need experienced people working at the company. Hiring college grads on the cheap is going to blow up when they can't probably troubleshoot issues with the analytic.


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  5. Helpful (8)

    "Bad Place to Work"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Product Specialist in New York, NY
    Current Employee - Product Specialist in New York, NY
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Free Soda though it's mostly with caffeine so you work harder.
    Free Lunch though it's done for you to work during lunch. You work during your 1 hr lunch break for $8/hr.

    Cons

    **Phil Hadley is clueless about a number of products. He only knows what he told by others. Most of the upper-mgmt just tell him what he wants to hear, hoping to keep on working till their screw ups get discovered. If he actually visited with the consultants and specialists, he would actually see what needs to be done to grow FactSet.

    **It's all about selling. They will hire/promote you as a consultant or specialist and tell you your job is account management. If you work on a hard product, you will then become the de-facto sales person. The sales generalist won't want to understand your product, so you will be doing cold calls rather than just building and strengthening existing clients/doing demos/trainings/support.. what you were hired for. Say you do get a lead by a cold call. Then you need to bring the generalist who has done very little. If it goes good, they get the credit. If it goes bad, you get the blame.

    **The company isn't good for a resume. If you put JP Morgan or Bloomberg on your resume it's gold. Putting FactSet on your resume doesn't do much.

    **Not many promotion opportunities. In consulting you either become a mid-level consulting mgr or a sales person and eventually a sales mgr. Only engineering really has a career path but that is mostly by nicer titles.

    **They will now nickle and dime you. Blackberries are being taken away. Reimbursement for internet when you need to work from home is no longer done.
    To get your graduate class paid for, you need to pass the CFA (3 yr + test). To take the CFA, you need to work there 2 years. So 5 yrs of working there just to get a class paid for.

    Advice to Management

    Have Phil actually visit the consultants and specialists for every product. Something simple like one product a week. Go on a client visit or two to see current needs vs needs when he did it back in the 90s.


  6. Helpful (6)

    "Work elsewhere"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Consultant in San Mateo, CA
    Former Employee - Consultant in San Mateo, CA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    This use to be a great office to work in about eighteen months ago. Since then management has changed and I would recommend working at CapIQ, ThompsonReuters, or Bloomberg.

    Cons

    *People are not given time off for their own weddings or honeymoons
    *Watched people with medical disabilities face discrimination
    *Horrible management within the San Mateo office on all levels
    *Low office morale, high turnover
    *One of the managers has a history of dating clients, awkward if one of those clients becomes one of your clients
    *HR is not receptive, does not work with employees

    Advice to Management

    When consultants voice concerns or frustrations through HR please don't hold meetings and tell them they are unappreciative. It helps if you listen to what they have to say, consider some of the points, and swallow your pride.


  7. Helpful (4)

    "Find a better place to work"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Decent benefits and free lunch and soft drinks. If you are in Norwalk you get snacks.
    Most employees get a notebook which they can bring home/use as their own

    Cons

    No promotion potential. If you work hard your best bet is to work harder sending your resumes to other companies

    Raises and bonuses are much smaller the last few years even when the company was doing good

    Getting time off for family or sickness just doesn't happen like it used to.

    Senior management is in the midst of turn-over. New senior management hasn't done much except promote people they are close with (not necessarily the best performers/hardest workers).

    Advice to Management

    Change the culture so the hardest workers/best performers can move up not just get a new title.


  8. "No Leadership - Non-accountable Management"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Norwalk, CT
    Current Employee - Anonymous Employee in Norwalk, CT
    Doesn't Recommend
    No opinion of CEO

    Pros

    Free Lunch
    Being exposed to over 200 different products redistributed through FactSet
    Learning what engineering can do

    Cons

    Majority of managers have no prior industry experience, a requirement of the FactSet 360 review

    Managers have outdated skill set and do not possess the skills that are now required to manage new restructured positions and new positions they are hiring for

    Advice to Management

    Stop accepting new hire slots haphazardly when there is no real career path intended for the role. Discontinue the backtracking and covering up of management mistakes by hiring new people to obtain theknowledge that you could easily discover yourself..it's not only wasteful but it's the reason you earn bonuses and have progressed so well at the firm in the first place

    Put in more time, most higher managers work 9-5 or come in early and leave at 5pm

    Just because the company has done well and just because you have been there since it's pre-IPO days, does not give you the license to not work hard today.

    Stop looking down at staff who haven't been there from inception or who have not been recruited from select schools. Continue to work hard in these down economic times....and give bonuses and compensation carefully, not just to those people who do the majority of the 360 reviews = oftentimes it's political.


  9. Helpful (4)

    "Great for work hours, terrible if you care about your career"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Software Engineer in Norwalk, CT
    Former Employee - Software Engineer in Norwalk, CT
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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

    Pros

    Work/life balance, snacks, free lunch.
    Some very smart people work here.

    Cons

    The compensation is sub-standard. You should not expect to get significant year-over-year raises. It makes no difference if you put extra effort and/or hours. You have no career opportunities. Incompetent managers thrive. There are quite a lot of incompetent people working here.

    Advice to Management

    Focus more on the competency of the new hires and mid-management.


  10. Helpful (7)

    "Clowns.. stay away"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Software Engineering in Norwalk, CT
    Former Employee - Software Engineering in Norwalk, CT
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at FactSet full-time

    Pros

    Free lunch, you barely have to do any real work , great if you can't bear giving up the frat house atmosphere of college, no drug testing

    Cons

    Talentless hacks, political infighting, lazy engineers , working on outdated systems, you won't learn anything relevant to the real world

    Advice to Management

    Give up. Nice stock price. Can you do anything right?


  11. Helpful (3)

    "Research Analyst"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Research Analyst in New York, NY
    Former Employee - Research Analyst in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Interesting work, free lunch, nice offices with strong employees

    Cons

    Extremely slow in improving the product. They moved my group over seas and were extremely disinterested in improvements before the move. Seemed like they knew it was coming for years but wanted to have people quit.

    Advice to Management

    Get out of the research group.


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