Janney Montgomery Scott "high turnover" Reviews | Glassdoor

Janney Montgomery Scott Employee Reviews about "high turnover"

Updated Jan 17, 2019

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3.9
74%
Recommend to a Friend
92%
Approve of CEO
Janney Montgomery Scott President and CEO Tim Scheve (no image)
Tim Scheve
82 Ratings
Pros
Cons
  • "I have never seen such high turnover in my career, but it is easily explained given that Janney doesn't conduct exit interviews(in 6 reviews)

  • "Sometimes there is a lack of formal training(in 3 reviews)

More Pros and Cons

Reviews about "high turnover"

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  1. Helpful (3)

    "Horrid middle management, very high turnover, archaic technology"

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

    I worked at Janney Montgomery Scott full-time for more than a year

    Pros

    Beautiful office in Center City Friendly coworkers Not much else

    Cons

    I have never seen such high turnover in my career, but it is easily explained given that Janney doesn't conduct exit interviews. Nor do they invest in performance reviews (you will never be given the chance to give feedback on your manager.) So the same position will turnover 3 times in fewer than 18 months. Managers/VP's become managers only because they are the only people not saavy or qualified enough to leave,... not because they are good managers. Systems are poor, data management is archaic (I have spreadsheets that were 750k rows (and I was not in data analytics!) Processes are extremely manual, you focus less on analysis and more on data extraction and manipulation (again, I didn't work on IT or Operations.) Leadership is truly pathetic at the Manager and VP levels, I had better managers working at a diner and Starbucks. Men leave jobs in Wealth Management , and women are hired into them at half the pay. Entire departments quit at the same time, leaving management desperate and scrambling, thus perpetuating the same cycle. You will be miserable if you work here, don't do it. Benefits are extremely expensive, I basically paid for all of my own healthcare because my deductible was $1,500, and I had the most expensive plan. Sick days are limited to 7 PTO days, though you'll still have to do most of your work here upon you return.

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    Advice to Management

    Train your managers - and yourselves. Invest in exit interviews, unless you really don't care what happens to Janney. Invest in technology. Offer more affordable health plans.

    Janney Montgomery Scott2019-01-18
  2. Helpful (8)

    "Janney? Are you sure?"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Undisclosed Associate in Philadelphia, PA
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at Janney Montgomery Scott full-time for more than 3 years

    Pros

    Great location in Center City

    Cons

    Janney has very little to offer in terms of diversity and competitive pay. 80% of the people you work with will be white. 70% will be men. Women coming into Janney will most likely be filling a position that a man walked away from or was fired from, and there’s a good chance that these women will be paid significantly less for that same job. Many departments within Janney have high turnover rates, mostly because of... the poor pay. Janney has trouble holding onto talented people because jobs are available elsewhere with better benefits, a more diverse workforce, better pay, and a more relaxed company culture. If Janney does not work to resolve these issues they will eventually run every capable person out of their company. The fact of the matter is, you can find something better.

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    Advice to Management

    Pay competitively and fairly. Hire with diversity in mind.

    Janney Montgomery Scott2017-03-01
  3. "Investment Banking Analyst"

    StarStarStarStarStar
     

    I have been working at Janney Montgomery Scott

    Pros

    work-life balance and good location in Center City

    Cons

    low pay, high turnover, etc.

    Janney Montgomery Scott2016-07-19
  4. Helpful (3)

    "Corporate office"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Corporate in Philadelphia, PA
    Neutral Outlook
    Approves of CEO

    I have been working at Janney Montgomery Scott for more than 3 years

    Pros

    Overall, the people are nice, appreciative and willing to work with others.

    Cons

    High turnover in some departments, usually do to burn out or higher salaries offered elsewhere.

    Advice to Management

    We have talented, hard working people who believe the only way to grow or take the next step in their careers is by leaving the firm. I think there should be a better effort and more wiggle room to keep talent.

    Janney Montgomery Scott2015-12-19
  5. Helpful (1)

    "IT management is a joke"

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

    I have been working at Janney Montgomery Scott full-time for more than 3 years

    Pros

    Very well established and old company. Good name in the Street and reputation.

    Cons

    Pay and benefits is not competitive. IT end user support management is run by incompetent individuals who are not qualified for their role. High turnover rate for individual contributors. Give credit when credit is due. Management seems to steal credit from individual contributors.

    Advice to Management

    Reshape and train management in IT, pay well to keep top talents.

    Janney Montgomery Scott2015-05-05
  6. Helpful (1)

    "Weigh Your Options Carefully Before Applying"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Corporate Services in Philadelphia, PA
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Janney Montgomery Scott full-time for less than a year

    Pros

    The firm has a pretty "clean" reputation in terms of how they do business. Very polished atmosphere. The people are also very nice and friendly.

    Cons

    The hours are very long. Not suitable for moms with young children. The pay, perks (which are none), and overall benefits are not attractive and makes it much worse since they seem to demand a lot. Quite a few departments have a very high turnover rate so proceed with caution when applying. Don't just look on the surface. Do your research and weigh your options carefully. If I had done this I would not have bothered... to waste my time and would have simply went to work for another company.

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    Advice to Management

    Stop being scared to rock the boat. Do more to make your employees happy. Take some risks. In order to keep people on board, you have to "do more" for the people.

    Janney Montgomery Scott2014-05-29
Found 6 reviews