First Data "401k match" Reviews | Glassdoor

First Data Employee Reviews about "401k match"

Updated Apr 22, 2019

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3.0
45%
Recommend to a Friend
50%
Approve of CEO
First Data Chairman and Chief Executive Officer Frank Bisignano
Frank Bisignano
1,220 Ratings
Pros
  • "Great people to co-work and they all are professional(in 132 reviews)

  • "Work with good people, good equipment(in 91 reviews)

Cons
  • "It used to be a great company, the benefits were great, the retirement plan was awesome (401K match), I wasn't worried about getting laid off(in 167 reviews)

  • "No 401k match, although there is an employee stock purchase plan that is reasonably attractive(in 115 reviews)

More Pros and Cons

Reviews about "401k match"

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  1. "Review"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
     
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at First Data

    Pros

    People and products and pay

    Cons

    No 401k match any more

    Advice to Management

    Listen to your people please

    First Data2016-12-08
  2. Helpful (6)

    "It's changed so much that I don't recognize it anymore."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Corporate Communications in Omaha, NE
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at First Data full-time for more than 8 years

    Pros

    The people I worked with (of course, that's a given from company to company). Management was great to work with.

    Cons

    It used to be a great company, the benefits were great, the retirement plan was awesome (401K match), I wasn't worried about getting laid off. I came back briefly thinking it was still a great place to work; not anymore. I left and haven't looked back since.

    Advice to Management

    Remember who made First Data a great place to work (spoiler alert, it's the employees). If it weren't for the employees, there wouldn't be a First Data. Bring back the 401K match and quit laying off the best and brightest. Treat your employees as you would treat your paycheck; after all, they do make that paycheck happen.

    First Data2019-04-23
  3. Helpful (352)

    "Anonymous former employee"

    StarStarStarStarStar
     

    I worked at First Data

    Pros

    The people at First Data are great! That's it, nothing else. Don't come to FD. Everyone is trying to get out.

    Cons

    Everything. Stay far away. They bring you here and then do everything to screw their employees. Cut all benefits, misrepresented stock opportunity to new hires - blatantly lied. No 401k match. No regard for employees - viewed as easily replaceable. Wouldn't know talent if it hit them in the face - and don't know how to develop and engage their talent. Lie to employees about everything and put a 'spin' on everything. No integrity, 0 ethics. The worst company I have ever worked for. Would never refer an enemy here. CEO is constantly devising new ways to take money from employees. What company pays more stock than cash to the majority of employees? First Data. CEO may have been good at Chase but why wasn't he next in line for CEO? He has no people skills and just doesn't give a hoot about employees. Too much more to list. Stay away.

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    Advice to Management

    Your 'owner-associates' are not stupid - they see right through you. Do some research - if you want to increase the stock price, focus on your employees - there is a direct linkage there. Stop thinking you know everything and listen to the ideas of others. This isn't the 1980s... Your management skills need to progress and change with the times. FD is a good company, but you are bringing it down.

    First Data2016-01-26
  4. Helpful (11)

    "Benefits were very bad"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Recruiter in Coral Springs, FL
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at First Data full-time for more than a year

    Pros

    Coworkers. Some amazing people I had the chance to work with while there.

    Cons

    Horrible Benefits, no 401k matching, CEO was the absolute worst, Senior Management was horrible.

    Advice to Management

    Get rid of Frank.

    First Data2019-03-20
  5. Helpful (12)

    "First Data is where innovation goes to die"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee 
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    It's a job. I'm hoping Fiserv comes in and cleans house.

    Cons

    There is so much micro-management that most things have to LITERALLY be approved by Frank. He has NO trust in any of his direct reports. Getting anything approved is a ton of paperwork, waiting, more waiting, getting other groups involved to explain what you want to do, track down the necessary approvals, then wait for Frank to approve. The more money you make the less benefit help and 401k matching you receive. Frank needs to make his millions somehow.

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    Advice to Management

    Get rid of Frank. He's killing the company

    First Data2019-02-08
  6. Helpful (66)

    "CEO publicly attacked employees due to results of employee feedback survey"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Manager in Atlanta, GA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at First Data full-time for more than a year

    Pros

    There's pockets of good people around the company that genuinely care and are trying to do things the RIGHT way; these folks becomes friends quickly. Because they can't retain people, they'll pay you well and promote you fast. You'll also get first-hand experience on what a failing corporate culture looks and feels like. If you're job hunting in the Atlanta market, recruiters and hiring managers will work extra hard to help you leave First Data, as the company's reputation is now quite literally in the garbage.

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    Cons

    In my opinion, I believe most 1-2 star reviews hit the mark on the problems FD is facing, and you should pay attention to the fact that the poor conditions are not isolated to one team or location. For my review, I'm going to focus on something I'm surprised none of the reviews have mentioned this yet - about 2-3 months ago, the senior leadership team held a company-wide, televised town hall where they reviewed the results of the employee feedback survey that was conducted. Overall, the story was that employees weren't happy with senior leadership's direction with the company and were more interested in having a 401k match instead of receiving deferred stock rewards as part of your (small) year-end bonus. Frank took this personally, and delivered what was one of the most offensive and disgraceful speeches to the employee base I'd ever encountered. Employees were told we didn't understand how to value stock grants properly, but he would "let us make bad financial decisions" and give us a 401k match. We were childishly mocked for scoring our direct managers higher than senior leadership - Frank threw his hands in the air, pantomiming insanity, and said "ohhh, I just think my manager is my BEST friend" in a high tone. When it was brought up that employees generally don't feel rewarded or valued, Frank said it was our manager's fault and he's gonna come down on them hard and send them to "boss school" to "learn to do their job better." I left the town hall session before it was over because I was so angry, and almost turned in my badge that very moment. That was the tipping point for me; I decided at that moment that I wouldn't continue to perform a function that helped put money in Frank's pocket. I left about a month later.

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    Advice to Management

    You better guard the recording of that town hall closely. If that ever goes public, you'll never be able to hire key talent again. In this day and age, when business philosophy has moved toward valuing the employee as an individual contributor, and not a "resource," you are at a severe competitive disadvantage.

    First Data2018-12-13
  7. Helpful (15)

    "Project Manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Project Manager in Omaha, NE
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at First Data full-time for more than 5 years

    Pros

    Opportunity to learn and meet some good people.

    Cons

    Long hours, great lack of caring from management, FREQUENT layoffs that make no sense. Company is behind the time w technology. Top managment obvioulsy completely disconnected and doesnt care about employees. No 401k match.

    Advice to Management

    If you are trying to pull out of Omaha, be honest about it. Stop slowly bleeding it to death.

    First Data2018-11-24
  8. Helpful (19)

    "Zero Loyalty Zero Job Safety"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Manager 
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at First Data full-time for more than 10 years

    Pros

    The people, excluding Executive Mgmt.

    Cons

    CONSTANT LAYOFFS!!!! For literally years they have been laying huge masses of people off and closing offices left and right. They got rid of people that had tremendous amounts of knowledge. Those with families and those who had hoped to retire from there one day, back when it used to be a great place to work. They get ahead at the expense of their employees. Took away 401k match and replaced it with stock that takes 3 years to vest so they can lay you off and not give you anything, reduced vacation time, no work from home, expect late hours without additional compensation. After they lay people off they then sponsor Nascar cars, buy stadiums, etc.,while Frank makes his $51MM. They move jobs from one part of the country to another then back again. It’s pathetic. The morale is terrible because you are in constant fear of losing your job. The employees are the sacrificial lambs that Frank uses to create artificial growth and profit by performing layoffs. What will he do when he runs out of offices to close and people to lay off? He will leave and move on somewhere else because there will be no more moves he can make to make himself look good. The medical benefits are a joke too. $3,000 deductible for family benefits, but don’t you worry, they will give you a WHOPPING $300 to help offset it. I resigned because I just can’t stand the way they view or treat their employees. We are just expense liabilities and completely expendable. Zero loyalty...

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    Advice to Management

    Treat your people better and stop managing through fear.

    First Data2018-09-04
  9. Helpful (18)

    "Don't Fall for the Planted Reviews with this Company!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Vice President - Technology in Omaha, NE
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at First Data full-time for more than 10 years

    Pros

    Great people who've been with the company a very long time.

    Cons

    All new upper management in the past 5 years are from the good ole boys club. Terrible promotion opportunities, Stock that takes 3 years before you get 60% off the full value. No 401K matching. You are self insured with regards to Health Insurance, in my 20 years of working here I witnessed several people let go who had medical conditions.

    Advice to Management

    Why do all the good reviews come from either NY or NJ? Seems fishy to not just me, but everyone else who knows what's really up!

    First Data2018-06-13
  10. Helpful (4)

    "Relationship Manager"

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

    I worked at First Data full-time

    Pros

    Flexible Some great people Great assets

    Cons

    No 401k matching Poor financials that impact employees and customers

    Advice to Management

    Don’t hire from the New York “ol boys club”. Diversify! It look mob like at the top.

    First Data2018-05-11
Found 167 reviews